Forex Exchange Rate Forecasts For Pound Sterling (GBP), Euro (EUR), US Dollar (USD) + Canadian Dollar (CAD)

November 10, 2014 - Written by John Cameron

STORY LINK Forex Exchange Rate Forecasts For Pound Sterling (GBP), Euro (EUR), US Dollar (USD) + Canadian Dollar (CAD)

Currency News UK presents our latest foreign currency exchange rate predictions for the Pound Sterling (currency:GBP) and our future currency forecast for the US Dollar (currency:USD) and Canadian Dollar (currency:CAD).

The POUND STERLING (currency:GBP) was outperformed by nearly all of the other sixteen most actively traded global currencies during thursday’s session after the latest Halifax UK House Price survey was published.

The closely-monitored gauge of activity revealed that the annual pace of British property price increases had slowed to below 9.0% - a move which some economists feel may cause domestic households to cut back on spending.

As long as Bank of England Governor Mark Carney stayed from any Sterling-negative commentary in his Paris speech on Friday morning, the Pound is expected to trade with a NEUTRAL bias moving forward.

The current key market rates are as follows:

The Pound to Australian Dollar exchange rate (GBP/AUD) is -0.23 pct lower with a conversion of 1.83317.
The Pound to Canadian Dollar exchange rate (GBP/CAD) is 1.79933.
The Pound to Euro exchange rate converts -0.07 per cent lower at 1 GBP is 1.27370 EUR.
The Pound to US Dollar exchange rate is +0.11 pct higher with a conversion rate of 1 GBP equals 1.59000 USD.

Please note: rates correct at time of publish/update.

Euro Exchange Rate Forecast: EUR Flounders

The EURO (currency:EUR) endured another tough day at the office on Thursday following another dovish press conference from European Central Bank (ECB) President Mario Draghi.

The ECB Chief stressed during his latest Questions and Answers session that his Bank retains further options for loosening its monetary policy, and with regional price rises forecast to remain at rock bottom levels, the outlook for the single currency remains NEGATIVE.

US Dollar Exchange Rate Forecast: Support For USD Slumps

The near-term prospects of the US DOLLAR (currency:USD) hinged on Friday afternoon’s domestic labour market numbers.

Levels of optimism were high, with another 200,000+ jobs expected to have been added to the American payroll last month.

For this reason, the Buck may have been riding for a fall, particularly given its strong recent run.

The forecast for the Greenback is now NEUTRAL.

Canadian Dollar (CAD) Exchange Rate Improves

Support for the CANADIAN DOLLAR (currency:CAD) surged during Thursday’s afternoon session in the global currency markets.

The shift back into Loonie-denominated assets followed the release of a far better than expected set of Canadian Building Permits data for September, which suggested that the Bank of Canada may need to raise interest rates sooner than had previously been expected.

The Canadian tender is forecast to perform on a NEUTRAL TO POSITIVE footing providing this afternoon’s US jobs figures don’t provide any nasty shocks.

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TAGS: American Dollar Forecasts Canadian Dollar Forecasts Currency Predict Forecasts