British Pound Sterling Exchange Rate Forecast vs EUR USD CAD

November 10, 2015 - Written by John Cameron

STORY LINK British Pound Sterling Exchange Rate Forecast vs EUR USD CAD

Neutral Sterling (GBP) Outlook now Traders have Digested Dovish BoE

The POUND STERLING (currency : GBP) clawed back some of the losses it incurred against the other sixteen most actively traded global currencies yesterday.

Investors have recovered their nerve and are now more willing to hold Sterling-denominated assets following last Thursday’s downbeat message from the Bank of England. Tomorrow’s UK jobs data is the next risk event of note for Sterling – in the meantime, the British unit is forecast to perform on a NEUTRAL footing.

GBP to EUR Exchange Rate at 1.4033 Today

The EURO (currency : EUR) enjoyed steady support yesterday.

A stronger than expected showing from this month’s whole of eurozone Sentix Investor Confidence survey helped the shared unit and encouraging German trade numbers for October added to the euro’s positive lustre.

Whole of eurozone and German Gross Domestic Product data, due for publication on Friday, could impact upon market participants’ thoughts regarding the likely next step from the European Central Bank.

The outlook for the shared currency is NEUTRAL TO NEGATIVE and the GBP EUR exchange rate sits at 1.4033.

Pound Sterling to US Dollar Exchange Rate Trending around 1.5110 Today

The US DOLLAR (currency : USD) put in a strong showing during early trading yesterday as investors continued to factor-in a higher percentage chance that the US Federal Reserve will hike interest rates next month following Friday’s stellar American job creation statistics.

However, support for the Buck waned during late trading as futures market participants pared their bets on a December rate increase.

The outlook for the Greenback is NEUTRAL TO POSITIVE and the GBP USD exchange rate stands at 1.5110.

A weaker than anticipated set of Canadian Housing Starts data for October pressurised the CANADIAN DOLLAR (currency : CAD) during late trading yesterday.

Analysts had been expecting a showing of 200,000, so the result of 198,100 hit the Loonie, but there could be worse to come for the Canadian unit if the US Federal Reserve hikes interest rates before the end of the year.

The Pound Sterling Canadian Dollar exchange rate stands at 2.0044 and the outlook for the Loonie is NEUTRAL TO NEGATIVE.

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TAGS: American Dollar Forecasts Canadian Dollar Forecasts Euro Forecasts Pound Ster Forecasts