Pound Australian Dollar forecast page 30 - GBP USD

POUND STERLING The Pound has traded sideways against the other majors on the day, with no data of significance released in the UK. Tomorrow sees the release of the closely-watched NIESR GDP Growth Estimate figure for last month; if it suggests that Britain’s economy is slowly grinding towards a standstill again, then the Pound may give...

The Pound Euro exchange rate (GBP EUR) is 1.1445. The Pound Dollar exchange rate (GBP USD) is 1.6412. The Pound Australian Dollar exchange rate (GBP AUD) is 1.5917. In a major development, which came on Friday night, Standard and Poors, the leading ratings agency, downgraded the US’s credit rating from the maximum AAA status to AA+ for...

POUND STERLING This morning’s UK Producer Price Index figure showed that factory gate prices are rising at a slightly higher rate than had anticipated. By rights, this should have caused support for the Pound as investors upwardly revise their projections for UK interest rates. However, the Pound failed to make any headway against the...

The Pound Euro exchange rate (GBP EUR) is 1.1541. The Pound Dollar exchange rate (GBP USD) is 1.6254. The Pound Australian Dollar exchange rate (GBP AUD) is 1.5570. All-out panic has taken a hold of investors over the last twenty four hours, with market participants fearing the worst about the Eurozone debt situation and the prospects for...

POUND STERLING As expected, the Bank of England announced earlier today that it would be maintaining UK interest rates at 0.50% and that it would not extend the £200bn of assets currently committed to it quantitative easing scheme. The market’s response to the news was subdued, to say the least. NEAR-TERM OUTLOOK – NEUTRAL. US...

The Pound Euro exchange rate (GBP EUR) is 1.1460. The Pound Dollar exchange rate (GBP USD) is 1.6357. The Pound Australian Dollar exchange rate (GBP AUD) is 1.5348. Yesterday saw the release of the latest in a string of disappointing data, with the US Institute of Supply Management issuing figures which showed that America’s service...

POUND STERLING The majority of the UK’s economic activity takes place in the services sector, so this morning’s PMI services survey for July, which showed that this key sector is expanding at its fastest rate since March, was very good news for the Pound. Tomorrow’s Bank of England monetary policy announcement is likely to be less...

POUND STERLING A better set of PMI data, this time in the construction sector, have helped prop up the Pound today. Yesterday’s PMI manufacturing numbers seriously disappointed and if tomorrow’s PMI figures for the UK’s key services sector also come in below expectations, then Sterling will come under selling pressure. NEAR-TERM...

The Pound Euro exchange rate (GBP EUR) is 1.1456. The Pound Dollar exchange rate (GBP USD) is 1.6305. The Pound Australian Dollar exchange rate (GBP AUD) is 1.4951. As expected, the US House of Representatives yesterday voted by 269 votes to 161 in favour of a Bill to raise the US debt ceiling, whilst introducing measures to cut...

POUND STERLING This morning’s UK Purchasing Managers Index Manufacturing survey showed that the number of respondents who are negative about the prospects for the UK manufacturing sector outweighed those who are positive, causing selling pressure on Sterling. If tomorrow’s PMI construction figure also disappoints, the Pound may trend...