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GBP EUR Pound Sterling Euro Exchange Rate Forecast Turns Negative on Technicals

January 14, 2016 - Written by John Cameron

Positive Australian Labour Market Data Limited AUD/GBP Losses Today



Significantly better than expected Australian jobs data, published during the overnight Asian session, has helped limit the losses for the Australian Dollar (currency : AUD) against the Pound Sterling (currency : GBP) today.

The risk-driven Aussie was already under pressure thanks to a widespread shift out of risk from Asian equities traders by the time the latest Australian unemployment numbers were published at 0030hrs this morning; however, a better than anticipated showing from the December Australian overall joblessness figure helped the Aussie Dollar to hold its ground against the other major global currencies.

Analysts had been forecasting a showing of 5.9% from the final unemployment rate figure of last year, so the print of 5.8% favoured the local unit.

GBP/AUD saw Best Rate of over 2.0800 Today



The Aussie was further propped up by the December Employment Change figure which revealed a net loss of 1,000 jobs when a decrease of 10,000 was anticipated.

The Pound Sterling Australian Dollar exchange rate was trading at above the 2.0800 GBP AUD threshold during the lead-up to the release of the Aussie jobs numbers, but by the time European equities traders were back at their desks, the pair had tumbled to trade back down in the 2.0600s.

Pound to Euro Exchange Rate Plunged to New Near-Term Lows after Positive German GDP Data



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Elsewhere, the Pound Sterling has plunged to new near-term lows against the euro (currency : EUR) during this morning’s trading session.

Confirmation that Germany’s year-on-year Gross Domestic Product for 2015 had been upwardly revised from initial estimates of 1.6% to a distinctly healthier 1.7% helped the shared currency perk up and the Pound euro exchange rate slid to a fresh 11-month low of 1.3152 GBP EUR as a consequence.

Analysts forecast that this break through this key level of resistance may prove significant for the pair – the next historical support moving forward comes at the 1.2500 threshold which the pair diced with during the period from June until November 2014.


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