Pound Sterling FX Currency Forecast vs EUR USD NZD - GDP Results Limit Sterling's Potential

April 26, 2016 - Written by John Cameron

STORY LINK Pound Sterling FX Currency Forecast vs EUR USD NZD - GDP Results Limit Sterling's Potential

The Pound has been extremely uncertain against peers recently, with falling GDP contributing to this condition.

Pound Sterling (GBP) Exchange Rate Outlook Neutral to Positive

The POUND STERLING (currency : GBP) outperformed all of the other sixteen major global currencies, with the exception of the safe haven Japanese Yen (currency : JPY), yesterday.

The Pound was supported on the day by the widespread view that the wheels are falling off the pro-Brexit ‘Vote Leave’ campaign, making a ‘Remain’ vote in the upcoming European Union In / Out referendum more likely.

The Pound is forecast to trade on a NEUTRAL TO POSITIVE footing moving forward.

Euro (EUR) Exchange Rate Outlook Neutral to Negative

A disappointing German IFO Business Climate survey, published yesterday morning, suppressed support for the EURO (currency : EUR) on the session.

The continued poor performance from the euroland’s banks in the global equities markets suggests that the selling pressure on the shared currency may persist.

The outlook for the euro is now NEUTRAL TO NEGATIVE and the GBP EUR exchange rate stands at 1.2858.

US Dollar (USD) Exchange Rate Outlook Neutral to Negative

The US DOLLAR (currency : USD) was hit by a disappointing set of March New Home Sales data yesterday afternoon.

The evidence of an apparent slowdown in America’s housing market caused investors to downgrade their forecasts for the timing of the next US Federal Reserve interest rate increase.

In the meantime, this afternoon’s US Durable Goods Orders data and Consumer Confidence survey are predicted to be market-moving.

The GBP USD exchange rate stands at 1.4488.

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

This evening’s Kiwi Trade Balance numbers are forecast to prove market-moving for the NEW ZEALAND DOLLAR (currency : NZD).

A slight increase in the March level of exports out of New Zealand is expected, while the level of imports into NZ is also forecast to have increased.

If, as anticipated, New Zealand’s overall Trade Balance has increased from NZD339m to 401m, then the local currency is forecast to improve.

The outlook for the kiwi Dollar is NEUTRAL TO POSITIVE and the GBP NZD exchange rate stands at 2.1148.

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TAGS: American Dollar Forecasts Euro Forecasts New Zealand Dollar Forecasts Pound D Forecasts