July 6, 2015 - Written by Tim Boyer
STORY LINK Pound Sterling Foreign Currency Exchange Rate Forecast: Euro EUR/GBP, US Dollar EUR/USD, Australian Dollar EUR/AUD
UK Data Sees GBP/EUR Stronger, GBP/USD Decline
Mixed UK ecostats had a mixed impact on Pound Sterling to Euro (GBP/EUR) and Pound Sterling to US Dollar (GBP/USD) exchange rate trading today, with GBP/EUR consolidating earlier gains and GBP/USD holding previous losses. Manufacturing production was shown to have fallen in May while industrial production climbed. Today's UK GDP data could prompt further Pound movement.
Pound Sterling (GBP) Exchange Rate Outlook Neutral-Positive Today
The POUND STERLING (currency:GBP) will not be immune to events in the euroland during coming sessions in the global currency markets – UK Chancellor of the Exchequer George Osborne stated as much yesterday. However, the Bank of England is unlikely to be tempted into a kneejerk reaction on Thursday when it makes its latest monetary policy announcement. The outlook for the British unit is NEUTRAL TO POSITIVE.
Greek Referendum Forecast to Leave the Euro EUR/USD, EUR/GBP Exchange Rates Trending on a Negative Footing
A convincing victory for the ‘No’ campaign in yesterday’s Greek referendum piled the pressure on the EURO (currency:EUR) when the global currency markets re-opened for business last night. The immediate response from the German Finance Minister placed the ball firmly in Greece’s court, stating that the next move will have to come from Athens. In the meantime, the shared currency is forecast to trade on a NEGATIVE footing. The GBP EUR exchange rate stands at 1.4165.
Forex Forecast: Risk Aversion Predicted to Push USD/EUR, USD/GBP Exchange Rates Higher
The US DOLLAR (currency:USD) has shown signs that it has turned a corner over the past two weeks and last night’s firm rejection of austerity by the people of Greece is likely to provide further fuel for this move. Wednesday night’s publication of the minutes of the latest Federal Reserve monetary policy meeting are likely to be seminal for the Buck in the medium term. Most analysts believe that the Fed will hike its key interest rate before the end of the year – any confirmation of this will see the Greenback trade on a NEUTRAL TO POSITIVE footing. The Pound Sterling Dollar exchange rate stands at 1.5559.
GBP to AUD Exchange Rate Gains Today as Greece Drives AUD, NZD, ZAR Exchange Rates Lower
The AUSTRALIAN DOLLAR (currency:AUD) has started this week’s session firmly on the back foot as investors scramble for safe haven assets following yesterday’s ‘No’ vote to austerity from the Greeks. ‘Risk off’ trading is likely to be the order of the day for at least the next week, piling the pressure on the Aussie. Look out for Thursday morning’s domestic employment market numbers are the primary risk even of note for the Aussie – in the meantime, expect the Dollar from Down Under to perform on a NEUTRAL TO NEGATIVE bias. The GBP AUD exchange rate stands at 2.0852.
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: Dollar Pound Forecasts Euro Pound Forecasts Pound Australian Dollar Forecasts