Pound Sterling Forecast 2015: Losses for GBP to USD, EUR, AUD and NZD

January 8, 2015 - Written by John Cameron

STORY LINK Pound Sterling Forecast 2015: Losses for GBP to USD, EUR, AUD and NZD

Analysts forecast further pronounced price action for the Pound Sterling (currency:GBP) against a raft of other global tenders during today’s session thanks to a heavy data schedule.

Euro to Pound Exchange Rate Forecast

The latest whole of eurozone Economic Confidence and Retail Sales data lead the way at 1000hrs this morning and the brace of stats will be closely-monitored following yesterday morning’s below par inflation numbers from the euroland. Investors’ expectations for the gauge of confidence are relatively – perhaps unrealistically – high; analysts believe that the December figure will show a slight increase on November’s showing of 100.8.

With an improvement expected, anything below the November showing would be detrimental to the single currency. Meanwhile, the November euroland Retail Sales figure is expected to show at just above zero. If both releases disappoint, then expect the Pound Sterling euro exchange rate to trend Northwards towards the psychologically significant 1.3000 GBP EUR threshold.

Pound to euro Exchange Rate Forecast

The afternoon session kicks off with the latest Bank of England monetary policy decision. As has been the case for the past few months, analysts anticipate that there will be no change in UK interest rates or to the £375bn currently allocated to the BoE’s asset purchase scheme. Anything other than a ‘no change’ decision would represent a massive surprise.

Pound to Dollar Exchange Rate Forecast

The UK central bank’s policy announcement is followed by weekly jobs numbers from the US. Yesterday’s ADP private sector job creation numbers showed at closer to 300,000 than 200,000, so it would appear unlikely that today’s American jobs stats will disappoint. The Pound Sterling US Dollar exchange rate briefly threatened to break down through the 1.5000 GBP USD threshold during yesterday’s afternoon session and analysts forecast that a relatively strong showing from this afternoon’s US labour market data could see GBP USD trade down into the 1.4000s for the first time since the first half of 2013.

Meanwhile, this evening’s Asian session brings the publication of the latest New Zealand Building Permits data. A better than anticipated showing will provide further fuel for the extant downward move for the Pound Sterling New Zealand Dollar exchange rate.

Pound Sterling Exchange Rates Today: (08/01/2015)

The Pound to Australian Dollar exchange rate is -0.71 pct lower with a conversion rate of 1 GBP equals 1.85738 AUD.
The Pound to Canadian Dollar exchange rate is -0.41 pct lower with a conversion rate of 1 GBP equals 1.77794 CAD.
The Pound to Euro exchange rate converts +0.26 per cent higher at 1 GBP is 1.27982 EUR.
The Pound to New Zealand Dollar conversion rate is -0.57 pct lower at 1.93310 GBP/NZD.
The Pound to US Dollar exchange rate is -0.26 pct lower with a conversion rate of 1 GBP equals 1.50664 USD.
The Pound to South African Rand conversion rate is -0.79 pct lower at 17.51946 GBP/ZAR.

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