Pound Sterling Exchange Rate Forecast against EUR CAD NZD This Week, 'Brexit' News

April 14, 2016 - Written by John Cameron

STORY LINK Pound Sterling Exchange Rate Forecast against EUR CAD NZD This Week, 'Brexit' News

The Pound has risen against peers recently, due to the UK Referendum campaign starting up properly.

The Pound has fallen against almost all of its peers today, as a consequence of the Bank of England (BoE) leaving the UK interest rate unchanged at 0.50%.

Pound Sterling (GBP) Exchange Rate Outlook Neutral to Negative

The POUND STERLING (currency : GBP) continued to outperform the majority of the other sixteen most actively traded global tenders yesterday.

The UK unit once again basked in the glory of Tuesday’s domestic inflation figures which printed at their highest level for some 15 months.

However, many analysts forecast that this renaissance may be temporary given the fact that the EU In / Out Referendum remains a lengthy 10 weeks away.

The outlook for the British unit is NEUTRAL TO NEGATIVE.

Euro (EUR) Exchange Rate Outlook Neutral to Negative

The EURO (currency : EUR) was weighed down during yesterday’s trading day thanks to a below-expectations set of whole of February eurozone Industrial Production data.

Analysts had been anticipating a year-on-year print of 1.3%, so the result of 0.8% hurt the shared currency.

This morning’s inflation data from the euroland looks likely to prove seminal – euro-holders will be looking for an uptick in the pace of eurozone price rises as evidence that the ECB’s Quantitative Easing programme is working.

The euro is forecast to trade on a NEUTRAL TO NEGATIVE footing moving forward and the GBP EUR exchange rate stands at 1.2598.

Canadian Dollar (CAD) Exchange Rate Outlook Positive

The CANADIAN DOLLAR (currency : CAD) was supported by yesterday afternoon’s announcement from the Bank of Canada (BoC) had decided to maintain its headline interest rate at its current level of 0.5%.

The BoC’s accompanying statement contained news of an upward revision to its domestic 2016 GDP growth forecast, providing further good news for the Loonie.

The uplift in global oil prices over the past 48hrs increases the go-ahead mood enveloping the Canadian unit, which is now forecast to trade on a POSTIVE footing in the near-term.

The GBP CAD exchange rate stands at 1.8194.

New Zealand Dollar (NZD) Exchange Rate Outlook Neutral to Positive

The NEW ZEALAND DOLLAR (currency : NZD) gained significant ground against the Pound during yesterday’s session following the release of a go-ahead set of Chinese trade data during the early hours of Wednesday morning.

The news that imports into China had shown a much lower than expected year-on-year decrease spelled good news for New Zealand’s exporters and bodes well for the Kiwi during the second half of 2016.

With global commodity prices showing signs of a sustained revival, the New Zealand unit is forecast to trade with a NEUTRAL TO POSITIVE bias during coming sessions.

The GBP NZD exchange rate stands at 2.0528.

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TAGS: Canadian Dollar Forecasts Euro Forecasts New Zealand Dollar Forecasts Pound S Forecasts