Exchange Rate Forecasts

The Australian Dollar struggled for much of 2024 as China's post-COVID economic recovery failed to impress, and the Reserve Bank of Australia proved a reluctant hiker regarding interest rates.

The consensus sees 2024 as a year when the Dollar will gradually ease as a slowing economy and falling inflation allow the Federal Reserve to reverse some of the recent interest rate hikes it delivered.

Your outlook on the Euro in 2024, therefore, depends on where you place the ECB on the rate cutting spectrum.

The Pound to Australian Dollar exchange rate's ongoing selloff has legs to run, according to a leading currency strategist.

Foreign exchange strategists at investment bank Morgan Stanley say they are "most negative" on Pound Sterling in the G10 space for 2024.

"Upside ahead," says an Australian banking and capital markets giant laying out its predictions for the Australian Dollar.

According to a year-ahead outlook briefing from one of Scandinavia's biggest banks, the Euro to Dollar exchange rate can rise to 1.11 before a multi-month decline sets in.

The New Zealand Dollar is set to embark on a recovery against the U.S. Dollar in 2024 according to research from one of New Zealand's biggest financial institutions.

The consensus expects the Australian Dollar to rally in 2024, but analysts at one of Scandinavia's biggest banks and capital markets firms are rowing against the flow and are sellers in 2024.

It's a counter-consensus call for U.S. Dollar strength in 2024 from one of the world's banking giants, resulting in the Euro to Dollar exchange rate ending the year closer to parity than 1.10.

Recent events have overtaken Goldman Sachs's base-case assumptions for 2024, and economists at the Wall Street bank have announced adjustments to their dollar forecasts before the new year begins.

The British Pound will fall to levels last seen against the Euro during the crisis sparked by former Prime Minister Liz Truss when she introduced her controversial budget in September 2022.

Big support zones hint at limited downside for GBPCAD, but inflation figures on either side of the Atlantic will have the final say.

Downside momentum is building and threatens to take the Pound to New Zealand Dollar exchange rate to its lowest level since May over the coming week.

The Pound to Australian Dollar exchange rate has fallen to its lowest levels since September and appears to have entered a downtrend, which opens the door to a test of the June lows next.

EURUSD respects overhead resistance, but setup still supportive.

The British pound enters the new week with some positive technical momentum that leaves it looking constructive against both the Euro and Dollar, but the release of inflation figures midweek could challenge recent moves.

Dollar weakness is a conviction call for 2024 at Amundi, Europe's largest asset manager.

The Pound to Australian Dollar exchange rate can expect further volatility over the coming days because of some key central bank announcements, according to a note from Commonwealth Bank of Australia (CBA).

The Canadian Dollar's recent run of strength is not built on a strong economic bedrock and a dovish tilt from the Bank of Canada will put the currency under pressure during 2024.