STORY LINK Foreign Exchange Rates : Currency Predictions - GBP, USD, EUR, AUD, ZAR
Foreign Exchange Rates : Currency Predictions - GBP, USD, EUR, AUD, ZAR
POUND STERLING
Once again, there are no data releases of note in the UK penned in for today. In the absence of any compelling reasons to buy the Pound, the GBP EUR and GBP USD rates have drifted down on the day. Investors holding Sterling-denominated assets will be willing Friday?s UK Q2 GDP figure to be positive. NEAR-TERM OUTLOOK ? NEUTRAL TO NEGATIVE.
US DOLLAR ? The Pound Dollar exchange rate (GBP/USD) is 1.6445
All bets appear to be off for the US Dollar ahead of Fed Chairman Ben Bernanke?s set piece speech at Friday?s economic symposium at Jackson Hole. This afternoon?s US Durable Goods Orders figure for July came out much higher than expectations, providing a much-needed boost following a recent run of poor US data. This has seen the Dollar strengthen this afternoon. NEAR-TERM OUTLOOK ? NEUTRAL TO POSITIVE.
EURO ? The Pound Euro exchange rate (GBP/EUR) is 1.1371
For the second day in succession, German data has come in far below expectations; this time it was the IFO Business Climate Survey, following on the heels of yesterday?s disappointing German ZEW survey. In spite of signs of weakness in the Eurozone?s powerhouse economy, the Euro has proved its resilience by holding its own against the Pound and the Dollar on the day. NEAR-TERM OUTLOOK ? NEUTRAL TO NEGATIVE.
AUSTRALIAN DOLLAR ? The Pound Australian Dollar exchange rate (GBP/AUD) is 1.5643
The GBP AUD rate has tested lower during the early part of today?s Asian session. However, the gains were given up as the session progressed, partly due to some poor Australian Leading Indicator data, which came out much worse than had been expected. The negative close for Asian equities illustrated anaemic appetite for risk, causing further weakness for the Aussie. NEAR-TERM OUTLOOK ? NEUTRAL .
SOUTH AFRICAN RAND ? The Pound South African Rand exchange rate (GBP/ZAR) is 11.8260
The Rand has struggled to move into positive territory against the majors during today?s session following its highly negative performance of the past month. World equities markets have enjoyed a reasonable week on hopes of an expedient resolution to the Libyan crisis, but have found the going heavy today. The Rand badly needs an improvement in risk sentiment to claw back lost ground. NEAR-TERM OUTLOOK ? NEUTRAL TO NEGATIVE.
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 Rand Forecasts Pound Sterling Forecasts South African Rand Forecasts
Source: http://www.currencynews.co.uk/forecast/20110824-698_forex-predictions-gbp-usd-eur-aud-zar.html
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