STORY LINK Forex Forecast : Rate Predictions For GBP, USD, EUR, AUD, SGD
Forex Forecast : Rate Predictions For GBP, USD, EUR, AUD, SGD
POUND STERLING
The FTSE 100 has once again shown gains today, following its heavy losses of the early part of the week. This has propped the Pound up, but fears remain over the state of Britain?s real economy following Chancellor George Osborne?s warning yesterday that the UK faces a ?hard recovery?. NEAR-TERM OUTLOOK ? NEUTRAL.
US DOLLAR ? The Pound Dollar exchange rate (GBP/USD) is 1.6297
This afternoon?s US Retail Sales figure for July showed an improvement on June?s figure, however with the Federal Reserve asserting earlier in the week that it would keep interest rates ultra-low until at least 2013, the positive American shop sales figure has no effect on investors? US interest rate expectations. With stock markets improving, the Dollar could lose support in coming sessions. NEAR-TERM OUTLOOK ? NEUTRAL TO NEGATIVE.
EURO ? The Pound Euro exchange rate (GBP/EUR) is 1.1418
Concerns over the state of France?s economy grew this morning with the release of provisional French Q2 GDP data, which showed that economic activity grew had not grown since the start of the year. Greek GDP data released at the same time showed that the debt-addled Hellenic state?s economy shrank by an annualised 6.9%. NEAR-TERM OUTLOOK ? NEUTRAL TO NEGATIVE.
AUSTRALIAN DOLLAR ? The Pound Australian Dollar exchange rate (GBP/AUD) is 1.5755
The Aussie?s relative strength continues to be determined by global appetite for risk. With stock markets once again marching forward over the last 24 hours, the picture looks considerably brighter for investors holding Australian Dollar-denominated assets, however further downside is possible for stocks next week if concerns over European retail banks intensify. NEAR-TERM OUTLOOK ? NEUTRAL.
SINGAPORE DOLLAR ? The Pound Singapore Dollar exchange rate (GBP/SGD) is 1.9756
The Singapore Dollar lost significant ground in the currency markets as the week?s session drew to a close, seeing the GBP SGD rate trade up by almost 0.75% on Friday?s session. With some Asian stock indices registering moderate gains last night and others closing down again, the pervading air of uncertainty has hindered the risk-sensitive Singy; with the only certainty in global markets that further uncertainty is to come, the SGD may come under further pressure. 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 Singapore Dollar Forecasts Pound Sterling Forecasts Singapore Dollar Forecasts
Source: http://www.currencynews.co.uk/forecast/20110812-677_forex-predictions-gbp-usd-eur-aud-sgd.html
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