August 28, 2015 - Written by John Cameron
STORY LINK Pound Sterling FX Outlook vs Euro, US Dollar & Swiss Franc
UK GDP Forecast to Impact Pound Sterling Exchange Rate Trading Today
Investors holding the POUND STERLING (currency : GBP) will be nervously eyeing this morning’s UK Gross Domestic Product data for Q2. Expectations are high, which is invariably a dangerous set up for any British economic statistic – anything below the anticipated year-on-year 2.6% will hurt the Pound.
The outlook for the UK unit is now NEUTRAL TO NEGATIVE. Euro Support Steadies before Inflation Data: EUR to GBP, USD, AUD Exchange Rate Gains
Support for the EURO (currency : EUR) has steadied over the past week as market participants holding the single currency breathed a collective sigh of relief at the agreement of a third bailout deal for Greece. This afternoon’s German inflation data will determine the direction of flight for the shared currency as we head towards the weekend market shutdown. In the meantime, the euro is forecast to trade on a NEUTRAL TO NEGATIVE bias.
The GBP EUR exchange rate stands at 1.3710. Neutral to Positive Conversion Rate Forecast for GBP-USD: USD Stronger after GDP
The US DOLLAR (currency : USD) continued to improve against the Pound during yesterday’s trading thanks to a higher than anticipated set of Q2 US Gross Domestic Product numbers. Annualised growth levels of close to 4% caused analysts to bring forward their expected date for the first Federal Reserve interest rate hike in a new policy tightening cycle. The outlook for the Buck is now NEUTRAL TO POSITIVE and the Pound Sterling US Dollar exchange rate stands at 1.5388.
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CHF Exchange Rate Forecast: Swiss Franc Trends Lower after Industrial Production Slump
The SWISS FRANC (currency : CHF) took a hit in the markets yesterday morning when the latest domestic Industrial Production figures shows an annualised slump of 2.4%. With global equities markets tracking sharply higher, the Franc suffered further losses as investors liquidated their CHF-denominated positions of safety. Another day of gains for global shares could see the Pound record further gains versus the Swissie; in the meantime, the Franc is expected to trade on a NEUTRAL TO NEGATIVE footing. The current GBP CHF exchange rate stands at 1.4883.
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TAGS: Daily Currency Updates Dollar Pound Forecasts Swiss Franc Forecasts