Pound sterling to eur usd nzd exchange rates forecast to hold gains _ currency news uk 30 in binary
Last week was a positive one for Pound Sterling (GBP) exchange rates, with the British currency gaining on the Euro (GBP/EUR), US Dollar (USD) and New Zealand Dollar (NZD).
The POUND STERLING (currency : GBP) recorded strong gains against the other sixteen most actively traded global currencies during the latter part of last week thanks to stronger than anticipated surveys of the domestic Construction and Manufacturing sectors. Euro to pound sterling exchange rate However, analysts were quick to point out that one swallow does not a summer make, and a report from recruitment giant Hayes suggesting that the British labour market weakened ‘significantly’ at the time of June’s EU Referendum is forecast to anchor support for the Pound; the UK unit is expected to trade on a NEUTRAL TO NEGATIVE footing moving forward.
That being said,
if UK data continues exceeding forecasts, the Pound could rally to new highs against rivals like the Euro and US Dollar. Yahoo news canada Reduced bets of a September interest rate hike from the Federal Reserve could also aid the Pound’s advance against the US Dollar.
Euro (EUR) exchange rates performed less positively last week, with the Pound Euro (GBP/EUR) exchange rate managing to climb to some of its highest levels since the UK’s decision to Brexit from the European Union.
The EURO (currency : EUR) struggled to assert itself in the markets last week and slipped back into the 1.1100s against the Greenback during late trading on Friday in spite of a soft Dollar. Hex editor windows Wednesday’s lower than expected inflation numbers from the euroland set the tone for the week and stoked fears that European Central Bank President Mario Draghi’s ‘by any means necessary’ monetary policy is starting to lose its shock and awe effect. Usd euro converter Concerns over Italy’s banking sector mean that the shared currency is forecast to trade on a NEUTRAL TO NEGATIVE footing moving forward and the GBP EUR exchange rate sits at 1.1910.
Meanwhile, demand for the US Dollar declined at the end of last week, with the Pound to US Dollar (GBP/USD) and Euro to US Dollar (EUR/USD) exchange rates advancing following the publication of disappointing jobs data.
A tame set of American jobs numbers on Friday afternoon are likely to hold back the US DOLLAR (currency : USD) during this week’s trading session. Dollar to pound chart An unexpected increase in the overall level of joblessness stateside, coupled with below par rate of job creation last month, have combined to cause investors to push back their forecast for the next US interest rate hike. Decimal division calculator Futures markets now price-in a 79% likelihood that the Federal Reserve will keep rates on hold this month and the outlook for the Buck is NEUTRAL TO NEGATIVE. Euro pound exchange rate forecast The GBP USD exchange rate stands at 1.3284.
Thursday’s PMI survey of China’s vast manufacturing sector was expected to reveal that it continued to contract last month; the revelation that it had returned to expansion provided the NEW ZEALAND DOLLAR (currency : NZD) with a boon and there could be more good news to come for holders of the Kiwi Dollar if tomorrow’s GlobalDairyTrade auction results point to an increase in the hammer price of Whole Milk Powder (WMP). Stock meaning in tagalog In the meantime, the outlook for the New Zealand tender is NEUTRAL TO POSITIVE and the Pound Kiwi exchange rate stands at 1.8220 GBP NZD.