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Pound Sterling FX Forecast for EUR USD NZD Exchange Rates Today

July 24, 2015 - Written by Toni Johnson

Pound Sterling to Euro (GBP/EUR), US Dollar (GBP/USD), Aussie (GBP/AUD) Lower after Retail Sales



The POUND STERLING (currency:GBP) suffered a short sharp bout of selling pressure during yesterday’s session as investors priced-in a disappointing set of domestic Retail Sales data. The June statistics were expected to show a month-on-month increase on May’s result, so when the figures pointed to a fall, Sterling shipped support. However, analysts expect this to be a minor blip and with UK interest rates likely to be on the rise sooner rather than later.

The outlook for the UK unit is NEUTRAL TO POSITIVE.

Greek Reforms Approved, Euro (EUR) Conversion Rate Advances



The EURO (currency:EUR) picked up a little support against the majority of the other major global currencies yesterday. The single currency was helped on the day by the news that Greece’s parliament had passed the second set of economic reforms required for the debt-addled Hellenic state to qualify for a third bailout. Negotiations on a new €86bn tranche of emergency funding can now begin between Athens and the Brussels Group, but these are by no means guaranteed to go well.

The forecast for the single currency remains NEGATIVE and the Pound Sterling euro exchange rate stands at 1.4155.

Currency Market Movement for the US Dollar Dictated by US Housing Data



US DOLLAR (currency:USD) watchers will be closely monitoring this afternoon’s American New Home Sales data to provide further near-term direction for the Buck. Analysts are anticipating a slight drop in the measure of transactions during the month of June; with this set up, a result into positive territory would help the Dollar.

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The forecast for the US unit is NEUTRAL TO NEGATIVE and the GBP USD exchange rate stands at 1.5533.

FX Outlook - RBNZ Decision Supports New Zealand Dollar, GBP/NZD, USD/NZD Fall



The NEW ZEALAND DOLLAR (currency:NZD) performed in a counter-intuitive fashion during yesterday’s trading session – it climbed against the Pound Sterling in spite of the previous evening’s announcement from the Reserve Bank of New Zealand (RBNZ) that it was cutting its Official Cash Rate by 0.25%. Comments from RBNZ Governor Graeme Wheeler in the accompanying statement observing that Auckland property prices continued to spiral were taken by investors as a signal that this might be it for Kiwi rate cuts. The NZD badly needs dairy prices to stabilise – in the meantime, look it to perform in a NEUTRAL fashion.

The GBP NZD exchange rate stands at 2.3362.
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TAGS: Dollar Pound Forecasts Euro Forecasts Euro Pound Forecasts Pound Sterling Forecasts

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