Exchange Rate Forecasts for Pound (GBP), Euro (EUR), US Dollar (USD) & Aus Dollar (AUD)

Modified: Wednesday, 5 November 2014 10:05 BST - Written by John Cameron

STORY LINK Exchange Rate Forecasts for Pound (GBP), Euro (EUR), US Dollar (USD) & Aus Dollar (AUD)

Updated foreign currency exchange rate forecasts for the British Pound (currency:GBP) versus the euro (currency:EUR), US Dollar (currency:USD) and the Australian Dollar (currency:AUD) from our leading analyst below.

The POUND STERLING (currency:GBP) enjoyed a boost during early trading today when the latest Purchasing Manager Index of the British manufacturing sector showed at a significantly higher level than had been expected.

The next risk event of note for the Pound comes with tomorrow morning’s construction sector version of the same survey and another decent showing could see Sterling record renewed gains.

Thursday’s Halifax House Price survey will be closely-monitored for any suggestion that the domestic property market is slowing; in the meantime, the Pound is forecast to trade on a NEUTRAL TO POSITIVE footing.

Exchange Rates Today - 3rd November 2014

The Pound to Australian Dollar exchange rate today is converting +0.75 per cent higher at 1.83878 GBP/AUD.
The Pound to Canadian Dollar conversion rate is +0.67 pct higher at 1.81501 GBP/CAD.
The Pound to Euro exchange rate is +0.25 pct higher with a conversion rate of 1 GBP equals 1.28071 EUR.
The Pound to New Zealand Dollar conversion rate is +0.78 pct higher at 2.06997 GBP/NZD.
The Pound to Dollar exchange rate is +0.05 pct higher with a conversion rate of 1 GBP equals 1.59797 USD.

Euro Rate Forecast: European Commission Economic Forecasts Could Harm The EUR

This morning’s whole of eurozone data revealed that the pace of manufacturing growth in the region had slowed last month.

The keynote release, which came in at a lower than anticipated level, held back the EURO (currency:EUR) during today’s session, and tomorrow morning’s European Commission economic forecasts could heap further pressure on the single currency tomorrow.

Analysts forecast that the eurozone unit will trade with a NEGATIVE bias moving forward and the Pound Sterling euro exchange rate currently stands at 1.2790.

Dollar Rate Forecast: Strong ISM Survey Helps The USD

The US DOLLAR (currency:USD) has once again outperformed most of the other sixteen most actively traded global currencies on the day.

A much better than expected showing from this afternoon’s ISM Manufacturing survey in the states has assisted the USD on the day, but the main event of the week as far as Greenback-watchers are concerned, is still to come.

If Friday’s American jobs numbers once again beat expectations, then expect further gains for the Dollar.

Analysts predict that the USD will perform in a NEUTRAL TO POSITIVE fashion moving forward.

Aus Dollar Forecast: AUD-Holders Await RBA Policy Decision

The AUSTRALIAN DOLLAR (currency:AUD) has put in a poor performance on the day.

The weekend market shutdown did not help the Aussie, bringing the publication of another disappointing survey of the Chinese manufacturing sector.

A slowdown in activity levels in the ‘workshop of the world’ spells bad news for the export-driven Australian unit; however, things could be about to get significantly worse if tonight’s Reserve Bank of Australia policy announcement once again sees policymakers talk down their local currency.

The near-term forecast for the AUD is NEUTRAL TO NEGATIVE

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