Exchange Rates Forecast: Pound Sterling, Euro, Dollar, Australian Dollar & New Zealand Dollar

Modified: Friday, 8 November 2013 14:54 BST - Written by David Woodsmith

STORY LINK Exchange Rates Forecast: Pound Sterling, Euro, Dollar, Australian Dollar & New Zealand Dollar

Curreny News brings you the end of week exchange rate forecasts covering Pound Sterling (GBP), Euro (EUR), Dollar (USD), Australian Dollar (AUD) & New Zealand Dollar (NZD).

Strong American jobs numbers, published earlier this afternoon, have sent the euro US Dollar exchange rate (EUR/USD) tumbling downwards. The surprise figures may trigger a downshift in global stock indices and the Australian and New Zealand Dollars as investors steer clear of risk-laden assets.

A stunning set of US job creation figures, published a short time ago, have sent the euro US Dollar exchange rate (EUR/USD) tumbling down towards the 1.3300 threshold. October’s US Non-Farm Payrolls figure massively outstripped expectations of 120,000 to show at 204,000. The figure provided the US Dollar with an instant boost, sending the Pound Dollar exchange rate (GBP/USD) down to close to 1.6000 in the few minutes after its release.

The positive US jobs number has added to the upbeat investor sentiment surrounding the American economy following yesterday’s highly encouraging US Gross Domestic Product data for Q3 which showed well ahead of the consensus of leading economists’ opinions. Analysts forecast that the combined effect of the better than anticipated releases from the States over the past 24hrs is likely to see the GBP USD and the EUR USD exchange rates both drop during coming weeks. The EUR USD exchange rate remains particularly susceptible to downside following the European Central Bank’s announcement that it was cutting its key lending rate to a new all-tim below of 0.25%.

The Pound US Dollar exchange rate (GBP/USD) is currently trading down by 0.16% at 1.6018 GBP/USD. The US Dollar Pound exchange rate is currently trading at 0.6243 USD/GBP.

Elsewhere, this afternoon’s US data is likely to cause global stock markets and the Commodity Dollars to lose ground thanks to its perceived effect on the probability that the US Federal Reserve will be cutting its Quantitative Easing scheme sooner rather than later. Many investors are now predicting that the GBP NZD and GBP AUD exchange rates will hurtle towards the 1.7400 and 2.00000 levels in response to this shift in risk appetite.

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