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Pound Sterling Edges Lower vs Euro, Dollar Ahead of UK Budget

28 Oct 2024 at 2 PM - Written by Tim Boyer

STORY LINK Pound Sterling Edges Lower vs Euro, Dollar Ahead of UK Budget

The Pound to Euro (GBP/EUR) exchange rate has drifted just below the 1.2000 level. Oil prices slumped on Monday as the Israeli strike on Iran avoided oil infrastructure, and this provided net Euro support in global markets. Domestically, markets will be focussing on the crucial UK budget. Rabobank is wary over near-term fiscal risks, but still expecting net longer-term Pound gains; “our central view remains that...

CATEGORIES: Pound Sterling Forecasts

Pound US Dollar Exchange Rate Subdued

28 Oct 2024 at 2 PM - Written by Frank Davies

STORY LINK Pound US Dollar Exchange Rate Subdued

The Pound US Dollar exchange rate treaded water on Monday following the publication of some below forecast UK data. At the time of writing, GBP/USD was trading at approximately $1.2978, virtually unchanged from the start of Monday’s session. The Pound (GBP) faced difficulties attracting investors on Monday after the release of some disappointing UK data. The UK's latest CBI distributive trades survey fell short of...

CATEGORIES: Pound Dollar Forecasts

Pound Euro Exchange Rate News: GBP/EUR Choppy ahead of UK Autumn Budget

28 Oct 2024 at 2 PM - Written by David Woodsmith

STORY LINK Pound Euro Exchange Rate News: GBP/EUR Choppy ahead of UK Autumn Budget

The Pound Euro (GBP/EUR) exchange rate was mixed on Monday as investors braced for the UK Autumn Budget and some high-impact Eurozone data. At the time of writing, GBP/EUR traded at €1.2000, having wavered in a narrow range. The Pound (GBP) fluctuated on Monday as markets prepared for the imminent UK Autumn Budget. The Labour government’s highly anticipated budget has kept GBP investors on edge for weeks, with...

CATEGORIES: Pound Euro Forecasts

Pound to Dollar Week Ahead Forecast: For GBP/USD Reeves and Trump to Dominate

27 Oct 2024 at 3 PM - Written by Tim Boyer

STORY LINK Pound to Dollar Week Ahead Forecast: For GBP/USD Reeves and Trump to Dominate

HSBC expects the Pound to Dollar (GBP/USD) exchange rate will weaken to at least 1.25 over the next few months. The bank is broadly bearish on the Pound and net dollar gains to drive Cable lower. Danske Bank considers that GBP/USD can hold above 1.30 on a 6-month view. GBP/USD dipped to 10-week lows near 1.2900 before a recovery to 1.2980. According to ING, GBP/USD will remain vulnerable on a near-term view; “For...

CATEGORIES: Pound Dollar Forecasts

Pound to Euro Rate Week Ahead Forecast: Possible 8-Year Best say Analysts

27 Oct 2024 at 3 PM - Written by David Woodsmith

STORY LINK Pound to Euro Rate Week Ahead Forecast: Possible 8-Year Best say Analysts

Danske Bank forecasts that the Pound to Euro (GBP/EUR) exchange rate will strengthen to 1.2350 on a 6-month view as UK yields remain attractive. In contrast, ING expects that GBP/EUR will weaken to 1.1630 by the second quarter of 2025. During the week, the Pound to Euro (GBP/EUR) exchange rate strengthened to 1.2050 before settling just below 1.2000 as the Euro attempted to pare wider losses. UK business confidence...

CATEGORIES: Pound Euro Forecasts

Pound Sterling: UK Data Damages GBP/USD Rally Attempt from 10-Week Lows

25 Oct 2024 at 1 PM - Written by Frank Davies

STORY LINK Pound Sterling: UK Data Damages GBP/USD Rally Attempt from 10-Week Lows

The Pound to Dollar (GBP/USD) exchange rate dipped sharply to 10-week lows just above 1.2900 on Wednesday before a tentative recovery to 1.2955. Weaker than expected UK business confidence data hampered the Pound, but the dollar retreated from 10-week highs amid a decline in US yields which provided some GBP/USD respite. UK yields also moved higher as markets contemplated a shift in UK fiscal rules which is likely to...

CATEGORIES: Pound Dollar Forecasts

Pound US Dollar Exchange Rate Climbs

25 Oct 2024 at 1 PM - Written by Frank Davies

STORY LINK Pound US Dollar Exchange Rate Climbs

The Pound US Dollar exchange firmed on Thursday following the publication of the latest US and UK PMI indices. At the time of writing, GBP/USD was trading at approximately $1.2972, up roughly 0.4% from the start of Thursday’s session. The Pound (GBP) gained ground against most currencies on Thursday despite the release of some below forecast UK preliminary PMI data. Both the manufacturing and services indices fell...

CATEGORIES: American Dollar Forecasts Pound Sterling Forecasts

GBP/EUR Exchange Rate Strengthens as Eurozone PMIs Disappoint

25 Oct 2024 at 1 PM - Written by Tim Boyer

STORY LINK GBP/EUR Exchange Rate Strengthens as Eurozone PMIs Disappoint

The Pound to Euro (GBP/EUR) exchange rate traded with modest gains on Thursday morning, as markets digested the latest PMI releases from both the UK and Eurozone. At the time of writing, GBP/EUR was trading around €1.1999, up approximately 0.2% from Thursday’s opening levels. The Euro (EUR) came under pressure on Thursday, in response to the Eurozone’s latest PMIs. October’s preliminary figures...

CATEGORIES: Pound Euro Forecasts

EUR/GBP Forecast: Euro Woes Continue to Support the Pound

24 Oct 2024 at 8 AM - Written by Frank Davies

STORY LINK EUR/GBP Forecast: Euro Woes Continue to Support the Pound

The Pound to Euro (GBP/EUR) exchange rate found support below 1.2000 on Tuesday and strengthened to 1.2030 on Wednesday, close to 30-month highs. The Pound has been relatively quiet in global markets while the Euro has remained under pressure amid expectations of faster interest rate cuts. According to Danske Bank; “GBP continues to benefit from UK growth outperformance relative to the Eurozone. The bank sees the...

CATEGORIES: Euro Pound Forecasts

Canadian Dollar Today: Bank of Canada Deliver a 50bps Cut Amid Growth Concerns

24 Oct 2024 at 8 AM - Written by David Woodsmith

STORY LINK Canadian Dollar Today: Bank of Canada Deliver a 50bps Cut Amid Growth Concerns

After three 25bps cuts, the BoC decided to accelerate the easing cycle and deliver a 50bps cut. With disinflation overshooting the 2% target to 1.6%, the bank is now clearly focused on supporting the economy. Another cut is likely in December, although it is not clear whether it will be 25bps or 50bps. Stock markets rolled over on Wednesday as jitters over the US election finally came to the fore. Betting markets...

CATEGORIES: Canadian Dollar Forecasts

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