Saturday, October 22, 2011

Latest Forex Forecast and Rate Predictions

Nowadays markets are little stable but not 100% stable because the strikes against street wall general and against other market of the world.Any how see here Forex forecast and rates predictions.
POUND STERLING

Today was a good news/bad news day for the Pound. On the credit side, this morning’s UK Public Sector Net Borrowing figure for September came in at a lower-than-anticipated level. However, the Nationwide Consumer Confidence survey showed that British consumer confidence contracted for the fourth month in succession. The net result has been a broadly Sterling-neutral session. NEAR -TERM OUTLOOK – NEUTRAL.


US DOLLAR – The Pound Dollar exchange rate (GBP/USD) is 1.5936

The Greenback has come under pronounced selling pressure against most of the other majors during today’s session. The move has been driven by a positive session by European equities in anticipation of positive news regarding a Eurozone debt bail-out over the next few days. NEAR-TERM OUTLOOK – NEUTRAL.


EURO – The Pound Euro exchange rate (GBP/EUR) is 1.1484

A stronger than expected German IFO sentiment survey helped the Euro in early trading today, however Europe’s single currency came under selling pressure in the middle part of the European session as investors reacted poorly to the news that the Eurozone debt summit which was pencilled-in for Sunday has been put back to next Wednesday due to the lack of agreement by policy-makers on the structure of the proposed bail-out plan. The Euro has since steadied, however the situation remains febrile. NEAR-TERM OUTLOOK – NEUTRAL TO NEGATIVE.


AUSTRALIAN DOLLAR – The Pound Australian Dollar exchange rate (GBP/AUD) is 1.5391

The Australian Dollar has ridden the wave of improved risk sentiment on the day to strengthen against the majority of the other major currencies. However, next week is likely to be key for investors holding Aussie-denominated assets; if Wednesday’s Eurozone debt crisis summit fails to yield a positive result, then the Australian Dollar is almost certain to weaken once more. NEAR-TERM OUTLOOK – NEUTRAL TO NEGATIVE.


SOUTH AFRICAN RAND – The Pound South African Rand exchange rate (GBP/ZAR) is 12.8880

The last 24 hours has seen the GBP ZAR exchange rate has pushed through the key 13.00 level which it last visited during the sharp dip in global appetite for risk on 22nd September. The South African economy has higher interest rates than almost any of the world’s other developed economies, making the Rand particularly susceptible to any further bad news emerging regarding Eurozone debts. NEAR-TERM OUTLOOK – NEGATIVE.



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