Euro, Dollar, Pound & Australian Dollar Predictions - Exchange Rate Forecasts For GBP EUR USD AUD

Modified: Tuesday, 7 October 2014 17:13 BST - Written by John Cameron

STORY LINK Euro, Dollar, Pound & Australian Dollar Predictions - Exchange Rate Forecasts For GBP EUR USD AUD

Currency News UK presents the latest Euro, US Dollar, UK Pound and Australian Dollar exchange rate Predictions and AUD Forecasts:

Last week brought the publication of a far stronger than expected set of US jobs numbers, leading analysts to forecast significant price action for the Pound Sterling (currency:GBP) against the other leading global currencies including the euro (currency:EUR) US Dollar (currency:USD) and the Australian Dollar (currency:AUD).

The POUND STERLING (currency:GBP) has lost ground against the Greenback and the minor Asian currencies which are linked to it on the day.

However, this was due to a renaissance for the Buck as opposed to Pound weakness and the Pound has crept ahead against the other sixteen most actively traded global currencies.

The latest forex conversions:

- The pound to australian dollar exchange rate is 1.84132.
- The pound to euro exchange rate is 1.27620.
- The pound to dollar exchange rate is 1.59727.

The moderately positive investor sentiment towards Sterling came in spite of a disappointing PMI services sector survey, published earlier.


However, the Pound benefitted on the day as investors shifted out of euro assets and it is expected to trade with a NEUTRAL TO POSITIVE bias in the near-term.

The EURO (currency:EUR) has once again given up ground against Sterling today, sending GBP EUR up to as high as 1.2783.

A below par whole of eurozone Composite PMI survey hurt the single currency, while the strong support for the Greenback this afternoon has caused the euro to give up ground against the other major tenders thanks to arbitrage trading from investors.

Looking ahead, the outlook for the single currency remains NEGATIVE in spite of the European Central Bank’s apparent reluctance to introduce a fully-blown Quantitative Easing programme.

The US DOLLAR (currency:USD) has stormed ahead during this afternoon’s trading session.

Yesterday afternoon’s highly positive US private sector jobs data had given investors a heads-up that today’s Non-Farm Payrolls figure might be positive.

The release did not disappoint, revealing that 248,000 new positions had been generated in the American economy last month.

The Pound to US Dollar exchange rate tumbled to 1.5949 GBP USD as a result and the outlook for the Buck remains NEUTRAL TO POSITIVE.

The AUSTRALIAN DOLLAR (currency:AUD) continued its near-term improvement during early trading, sending the Pound Sterling to Aus Dollar down to 1.8300 GBP AUD.

However, the start of the North American session sent the GBP AUD exchange rate higher once more following the revelation that the overall level of joblessness in the US economy had dropped below the 6.0% threshold for the first time since 2008.

Next Thursday’s domestic employment numbers are the next risk event of note for the Australian unit. In the meantime, expect the Aussie to trade on a NEUTRAL footing.

International Money Transfer? Ask our resident FX expert a money transfer question or try John's new, free, no-obligation personal service! ,where he helps every step of the way, ensuring you get the best exchange rates on your currency requirements.

TAGS: American Dollar Forecasts Australian Dollar Forecasts Currency Predi Forecasts