Pound to Euro Forecast: Gains Predicted for GBP vs EUR Exchange Rate

Modified: Thursday, 29 January 2015 13:31 BST - Written by John Cameron

STORY LINK Pound to Euro Forecast: Gains Predicted for GBP vs EUR Exchange Rate

Latest Pound Sterling to Euro (GBP/EUR) Exchange Rate Forecasts and Forex Predictions for 2015

The POUND STERLING (currency:GBP) exchange rate held steady against the other major global currencies during yesterday’s trading.

The Pound showed its resilience by continuing to perform well even after the publication of a mildly disappointing set of domestic Q4 Gross Domestic Product figures during the morning session.

Analysts forecast that the Pound will benefit from flows out of the eurozone during coming months, so Sterling is expected to trade with a NEUTRAL TO POSITIVE bias moving forward.

Live Conversion Rates for the Euro (29/01/2015 13:00 GMT)

The Pound to Euro exchange rate today is converting -0.28 per cent lower at 1.33810 GBP/EUR.
The US Dollar to Euro exchange rate today is converting -0.17 per cent lower at 0.88480 USD/EUR.
The Swiss Franc to Euro exchange rate converts -1.46 per cent lower at 1 CHF is 0.96273 EUR.
The Canadian Dollar to Euro exchange rate converts -0.28 per cent lower at 1 CAD is 0.70562 EUR.
The Australian Dollar to Euro conversion rate is -1.62 pct lower at 0.68804 AUD/EUR.
The New Zealand Dollar to Euro conversion rate is -0.84 pct lower at 0.64346 NZD/EUR.

Euro Enjoys Temporary Respite

The EURO (currency:EUR) registered some limited against Sterling yesterday, sending the Pound Euro exchange rate down to an intraday low of 1.3310.

The move was generally viewed by analysts as being technical in nature, following the sharp forward move recorded by the pair at the start of this week.

The next risk event of note for the single currency comes in the form of tomorrow morning’s German labour market numbers; in the meantime, the euro is forecast to trade on a NEGATIVE footing. GBP EUR stands at 1.3365.

US Dollar Exchange Rate Today: USD Has a Wobble

Yesterday’s afternoon session brought dual data releases which painted conflicting pictures of the state of the US economy.

The net effect of a stronger than anticipated US Consumer Confidence survey and a disappointing Durable Goods Orders print say the US DOLLAR (currency:USD) give up ground against the other majors, but the outlook for the Buck remains NEUTRAL TO POSITIVE.

The GBP USD exchange rate stands at 1.5192.

Canadian Dollar Exchange Rate Outlook: CAD Under Pressure

The CANADIAN DOLLAR (currency:CAD) continues to be weighed down by the Bank of Canada’s surprise interest rate cut of last week.

The GBP CAD exchange rate edged up to close to the 1.8900 level yesterday as investors priced-in the ongoing low level of global oil prices.

Most analysts now forecast that GBP CAD will break through the 1.9000 threshold sooner rather than later.

Friday’s Canadian GDP data may prove the catalysts. In the lead-up to this key risk event, the Loonie is forecast to trade with a NEGATIVE bias. GBP CAD stands at 1.8856.

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TAGS: American Dollar Forecasts Canadian Dollar Forecasts Currency Predict Forecasts