STORY LINK Foreign Exchange Rates : Currency Predictions - GBP, USD, EUR, AUD, CHF
Foreign Exchange Rates : Currency Predictions - GBP, USD, EUR, AUD, CHF
POUND STERLING
More disappointing UK data releases today have held back the Pound today; this morning?s CBI Reported Sales figure hinted at a future slowdown in British aggregate demand, while the Nationwide Consumer Confidence survey also showed a dip. Sterling badly needs tomorrow?s Q2 annualised GDP growth figure to beat expectations of 0.7% to arrest its recent downward move. NEAR-TERM OUTLOOK ? NEUTRAL TO NEGATIVE.
US DOLLAR ? The Pound Dollar exchange rate (GBP/USD) is 1.6374
The Greenback has held on to the gains that it made against the other majors in the middle part of this week during today?s European session. There is every chance that these gains will be reversed if Fed Chairman Ben Bernanke reveals plans for a third US tranche of Quantitative easing at tomorrow?s meeting of central bankers in Jackson Hole, Wyoming. NEAR-TERM OUTLOOK ? NEUTRAL TO NEGATIVE.
EURO ? The Pound Euro exchange rate (GBP/EUR) is 1.1352
Europe?s single currency has traded to a small gain against the Pound and the US Dollar so far today. Tomorrow morning?s German Retail Sales figure for July is the next risk event of note for the Euro ? if it prints at a lower than expected level, the Euro could experience downside pressure, especially in light of the two weak business confidence surveys of the past 48 hours. NEAR-TERM OUTLOOK ? NEUTRAL TO NEGATIVE.
AUSTRALIAN DOLLAR ? The Pound Australian Dollar exchange rate (GBP/AUD) is 1.5629
The Aussie has struggled to break into positive territory so far during today?s session as institutional investors avoid taking the plunge on high-yielding investments ahead of Fed Chairman Bernanke?s speech at Jackson Hole tomorrow. A Commonwealth Bank survey, released overnight, voicing fears that a strong Australian Dollar might lead to job cuts by domestic exporters has further hampered the Aussie?s progress. NEAR-TERM OUTLOOK ? NEUTRAL .
SWISS FRANC ? The Pound Swiss Franc exchange rate (GBP/CHF) is 1.3015
The Franc has come in for some support in the currency markets over the past 24 hours as investors trim their positions of risk ahead of tomorrow?s meeting of global central bankers at Jackson Hole. The Swiss currency has further benefitted from the quietening of market talk of a Franc/Euro peg, however the future for the Franc remains unpredictable and is largely dependent on the SNB?s actions. NEAR-TERM OUTLOOK ? NEUTRAL.
For other live currency exchange rates and a currency converter see the currency news website.
TAGS: American Dollar Forecasts Australian Dollar Forecasts Currency Predictions Euro Forecasts Pound Australian Dollar Forecasts Pound Dollar Forecasts Pound Euro Forecasts Pound Sterling Forecasts Pound Swiss Franc Forecasts Swiss Franc Forecasts
Source: http://www.currencynews.co.uk/forecast/20110825-701_forex-predictions-gbp-usd-eur-aud-chf.html
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