British Pound Sterling FX Exchange Rate Forecast against EUR USD NZD

October 6, 2015 - Written by Tim Boyer

STORY LINK British Pound Sterling FX Exchange Rate Forecast against EUR USD NZD

Pound Sterling Conversion Rate News: GBP Trends Lower after UK Services PMI

A highly disappointing showing from September’s UK PMI Services survey, published yesterday morning, held back the POUND STERLING (currency : GBP) on the day. Given that the combined tertiary industries make up over three quarters of total domestic economic activity is likely to pile the pressure on the UK unit. The outlook for Sterling is now NEUTRAL TO NEGATIVE and investors holding the Pound are now anxiously anticipating Q3 UK GDP figures.

Euro Trending Higher: EUR Forecast Neutral-Positive Now

The EURO (currency : EUR) had a decent session against the Pound and the other major global tenders yesterday. A stronger than anticipated set of whole of eurozone Retail Sales figures for August helped the single currency on the session, but the single currency will need a strong showing from tomorrow morning’s German Industrial Production data in order to sustain its near-term improvement.

The euro is forecast to trade on a NEUTRAL TO POSITIVE footing moving forward and the Pound euro exchange rate stands at 1.3520 GBP EUR.

Foreign Exchange Forecast: US Dollar Struggling after NFP Report

The progress of the US DOLLAR (currency : USD) has been hampered during early trading this week thanks to last Friday’s tame American jobs numbers. Futures markets were betting on a December interest rate hike in the States prior to the Non-Farm Payrolls data, but this has been pushed back to March followed the weak job generation figure. Thursday’s Federal Reserve minutes will now be closely-watched by holders of the Buck.

The outlook for the Greenback is NEUTRAL and the GBP USD exchange rate stands at 1.5170.

Commodity Currency ALERT: NZD Gains, Stronger Kiwi Forecast

The NEW ZEALAND DOLLAR (currency : NZD) has continued to improve against the Pound Sterling during the past 24hrs. The Kiwi benefitted from a generalised improvement in global risk sentiment yesterday and, in particular, the sharp move higher for commodity prices on the day. If Thursday’s minutes of the most recent Federal Reserve monetary policy meeting hint that US interest rates may remain at their current record low levels into next year, then there could be further gains to come for the New Zealand tender.

The Kiwi is forecast to perform on a NEUTRAL TO POSITIVE footing against the other major currencies in the near-term and the GBP NZD exchange rate sits at 2.3330.

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TAGS: Currency Predictions Daily Currency Updates Poun Forecasts