Pound Sterling (GBP) FX Outlook VS Euro, US Dollar & Canadian Dollar: Services Ahead

August 5, 2015 - Written by John Cameron

STORY LINK Pound Sterling (GBP) FX Outlook VS Euro, US Dollar & Canadian Dollar: Services Ahead

GBP to EUR, USD, CAD Exchange Rates Could Surge on Super Thursday

If today's minutes from the Bank of England's latest meeting show that one or more policymakers voted in favour of increasing interest rates we can expect the Pound to jump to new highs against the Euro, U S Dollar and Canadian Dollar in the hours ahead. The BoE inflation report is also expected to show positive revisions to the UK's growth forecasts.

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GBP Holding its own against EUR, USD, CAD before BOE Inflation Report

The POUND STERLING (currency : GBP) has more than held its own against the other sixteen most actively traded global currencies during recent sessions. Investors holding Sterling-denominated assets are eyeing tomorrow’s Bank of England monetary policy announcement with some hope; for the first time in history, the decision will be accompanied by the publication of the minutes of the policy meeting. A go-ahead message is anticipated from the Bank’s policymakers, so the outlook for the Pound is NEUTRAL TO POSITIVE.

Euro Conversion Rate Fluctuates against USD, GBP before Eurozone Retail Sales Today

The EURO (currency : EUR) continued to perform weakly against the other major tenders yesterday. Another lowly set of whole of Eurozone Producer Price Index data, pointing to falling factory gate prices, suppressed support for the single currency. Euro-holders will be looking for an improved set of whole of eurozone Retail Sales data, out later this morning, to support the shared currency. In the meantime, the euro area unit is expected to trade with a NEGATIVE bias.

The GBP EUR exchange rate stands at 1.4220.

Exchange Rate Newsflash: US Dollar Holds Steady: NFP Report Ahead

\r\n\r\nThe US DOLLAR (currency : USD) held steady on the day yesterday. The positive effect of an as-per-expectations showing from June’s US Factory Orders data was partly negated by a downward revision to May’s counterpart figure. Looking ahead, this afternoon’s ISM survey of the American services sector is the main event for today; a slight improvement on June’s showing of 56.0 is anticipated – anything less than this and the Greenback is forecast to trade on a NEUTRAL TO NEGATIVE footing for the remainder of the week.

The Pound Sterling US Dollar exchange rate stands at 1.5612 GBP USD.

GBP/CAD Remains at Best Conversion Rate as Oil Prices Fall

The CANADIAN DOLLAR (currency : CAD) continued to struggle to break into positive territory against any of the other major global tender yesterday. Another losing session for global oil prices meant that the price of Canada’s most significant export now stands at barely above its multi-year low. Another monthly drop in the RBC Canadian PMI survey of the nation’s manufacturing sector also weighed down the Loonie.

The outlook for the Canadian tender is NEGATIVE and the GBP CAD exchange rate stands at 2.0490.

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TAGS: Canadian Dollar Forecasts Daily Currency Updates Dollar Po Forecasts