Forecast - Will Pound to Euro Rise?

September 1, 2015 - Written by David Woodsmith

STORY LINK Forecast - Will Pound to Euro Rise?

During the early stages of Wednesday’s European session, the Pound to euro exchange rate was trending within a limited range.

The Euro has lost a little ground against its British counterpart amid improving market sentiment, but the UK asset is holding relatively steady as traders await British construction data.

German Employment Data to Impact Pound Sterling to Euro Exchange Rate Trading: Will EUR Rise against USD, GBP Today?

Today’s session marks the beginning of a foreshortened week in the global FX markets, as far as UK investors are concerned, but there’s by no means a lack of tier one data releases. Today’s session is particularly release-heavy and analysts forecast significant changes in the relative value of the Pound Sterling (currency : GBP) against the other sixteen most actively traded global currencies as a consequence.

August’s edition of Germany’s headline unemployment figures lead the way today and if economists’ predictions are correct, then the euro (currency :EUR) could come under renewed selling pressure. The July rate of joblessness in the Teutonic powerhouse economy stood at a relatively high 6.4% and analysts forecast that this morning’s seasonally-adjusted data will show no reduction. The Pound Sterling euro exchange rate briefly dipped into the 1.3500s during Friday trade before ending the week’s session lodged in the 1.3700s.

A relatively poor showing from the German jobs numbers could send GBP EUR back up towards the 1.4000 threshold once more.

FX Forecast Canadian GDP Could Push GBP-CAD Conversion Rate to Best Levels Today

Investors’ focus swings to North America this afternoon with key numbers from the US and Canada. The Canadian Dollar (currency : CAD) took a hammering in the markets a week ago as the price of a barrel of crude oil and appetite for risk in the markets both plummeted. This afternoon’s statistics are expected to reveal that the annualised pace of GDP growth in Canada’s economy slipped to a lowly -0.8% last quarter. Such a result could send the Pound Sterling Canadian Dollar exchange rate close to the 2.1000 GBP CAD threshold which the pair made a run at a week ago.

Foreign Exchange Rate Forecast: GBP-USD Trending at 2-Month Low, Manufacturing PMI Ahead

The final data publication of note today comes in the US in the form of the keynote ISM Manufacturing survey for August. A marginal improvement from July’s showing of 52.7 is anticipated – if the result comes out any better than this, then analysts forecast that the Pound Sterling US Dollar exchange rate may peel back down towards the psychologically key 1.5000 GBP USD level sooner rather than later.

Updated Euro Exchange Rates as of 2nd September 2015

The Euro to Australian Dollar exchange rate is -0.05 pct lower with a conversion rate of 1 EUR equals 1.61043 AUD.
The Euro to Canadian Dollar exchange rate today is converting -0.21 per cent lower at 1.49402 EUR/CAD.
The Euro to Swiss Franc conversion rate is +0.17 pct higher at 1.08644 EUR/CHF.
The Euro to Chinese Yuan exchange rate is -0.43 pct lower with a conversion rate of 1 EUR equals 7.15862 CNY.
The Euro to Czech Koruna exchange rate today is converting -0.02 per cent lower at 27.02432 EUR/CZK.
The Euro to Pound Sterling exchange rate today is converting -0.11 per cent lower at 0.73740 EUR/GBP.
The Euro to Hong Kong Dollar exchange rate is -0.29 pct lower with a conversion rate of 1 EUR equals 8.72884 HKD.
The Euro to Israeli Sheqel exchange rate today is converting -0.15 per cent lower at 4.42842 EUR/ILS.
The Euro to Japanese Yen conversion rate is -0.04 pct lower at 135.17962 EUR/JPY.
The Euro to Mexican Peso exchange rate converts -0.44 per cent lower at 1 EUR is 19.07145 MXN.
The Euro to Norwegian Krone conversion rate is -0.35 pct lower at 9.34252 EUR/NOK.
The Euro to New Zealand Dollar exchange rate converts -0.44 per cent lower at 1 EUR is 1.77970 NZD.
The Euro to Polish Zloty exchange rate converts -0.16 per cent lower at 1 EUR is 4.24380 PLN.
The Euro to Swedish Krona exchange rate today is converting -0.15 per cent lower at 9.51076 EUR/SEK.
The Euro to Singapore Dollar exchange rate today is converting +0.04 per cent higher at 1.59710 EUR/SGD.
The Euro to Turkish Lira exchange rate is +0.27 pct higher with a conversion rate of 1 EUR equals 3.32120 TRY.
The Euro to US Dollar exchange rate is -0.29 pct lower with a conversion rate of 1 EUR equals 1.12630 USD.
The Euro to South African Rand exchange rate converts +0.15 per cent higher at 1 EUR is 15.18543 ZAR.

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