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Pound Sterling Foreign Currency Forecast against EUR USD NZD

April 12, 2016 - Written by Ben Hughes

The latest poll of polls, collating recent studies from ORB, BMG, TNS, Opnium, ICM and YouGov, suggests that the UK is split exactly 50 / 50 on whether to exit the European Union. While the polls remain this tight, the POUND STERLING (currency : GBP) is forecast to struggle in the markets. This morning’s domestic Consumer Price Index inflation data could prove to be market-moving. In the meantime, the UK unit is expected to continue to trade on a NEUTRAL TO NEGATIVE footing.

GBP/EUR Exchange Rate Gains, Rebounds from 2016 Worst Levels



The EURO (currency : EUR) gave up ground against the Pound yesterday, sending the GBP EUR exchange rate briefly back up above the 1.2500 threshold. Tomorrow morning’s whole of eurozone Industrial Production data is the next risk event of note as far as investors holding the shared currency are concerned. With the European Central Bank continuing to purchase assets totalling some €80bn on a monthly basis, the outlook for the euro is NEUTRAL TO NEGATIVE. The GBP EUR exchange rate currently sits at 1.2477.

US Dollar Predicted to Fluctuate on CPI Data



The US DOLLAR (currency : USD) put in a meek performance in the global currency markets, with the GBP USD exchange rate gaining 1% and the EUR USD exchange rate climbing by a third of a percentage point. If Thursday’s US Consumer Price Index inflation data points to an accelerated pace of price rises in the States, then the Buck could well stage a renaissance. However, a poor showing from Friday’s Michigan Confidence survey would have the reverse effect. The Greenback is expected to trade on a NEUTRAL footing; the GBP USD exchange rate stands at 1.4270.

GBP/NZD Exchange Rate Forecast: 'Kiwi' Has Neutral/Negative Outlook



The short to medium term performance of the NEW ZEALAND DOLLAR (currency : NZD) largely hinges on Friday’s hotly anticipated Chinese Q1 Gross Domestic Product data. China remains the number one destination for New Zealand exports, so if, as expected, the growth numbers point to further slowdown in China, the Kiwi is forecast to lose ground against most of the other sixteen most-actively traded currencies. The outlook for the Kiwi is NEUTRAL TO NEGATIVE and the GBP NZD exchange rate stands at 2.0768.
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