Exchange Rate Forecasts

The downtrend in the Pound to Dollar exchange rate (GBPUSD) is not complete, according to a new technical analysis conducted by Société Générale.

Foreign exchange tacticians at HSBC are looking for another leg lower in the Euro to Dollar exchange rate (EURUSD) as the Dollar is yet to peak.

According to a new economic research update from Wells Fargo, the Bank of England will cut interest rates ahead of the U.S. Federal Reserve in a move that should propel the Pound to Dollar exchange rate firmly below 1.20.

GBPCAD has recovered enough to invalidate the recent downtrend but it remains too soon to call an outright rally given the risks associated with this week's Bank of England decision and the next GDP figures from Canada.

GBPNZD rebound is put on ice, but too soon to predict an outright decline.

The Australian Dollar's domestic agenda is dominated by the midweek Reserve Bank of Australia (RBA) decision, where another interest rate hike is now expected, but the Bank of England and Federal Reserve are also due to deliver interest rate decisions in what will be a busy week for global markets.

EURUSD remains supported from technical perspective, Eurozone inflation is key Eurozone risk event.

The Pound could remain supported against the Dollar over the coming days as technical indicators suggest the selloff of recent weeks is becoming exhausted, but the Federal Reserve, Bank of England and U.S. labour market statistics form the major hurdles to any significant recovery.

GBPEUR retains bearish setup near-term, but also well supported in the low 1.14s.

GBPEUR is destined for lower levels according to new research from a leading Scandinavian bank that envisages a world in which the Eurozone economy outperforms that of the UK.

In the coming week, the Canadian Dollar's main focus is the Bank of Canada (BoC) decision midweek, where the market favours an announcement for the policy rate to be maintained at 5.0%.

GBPNZD short-term outlook is constructive, but NZD could benefit on any global sentiment improvement.

GBPAUD mildly bullish, 1.9330 a potential upside target.

EURUSD technical increasingly constructive, Eurozone PMIs could offer a boost Tuesday, the ECB eyed on Thursday.

GBPUSD technical outlook is improved, but key test comes on Tuesday with PMI release.

GBPEUR nursing wounds following another weekly loss, but starting to look oversold says ING.

The Pound's upside momentum against the Canadian Dollar has stalled, leading an analyst at one of Canada's primary banks to warn a reversal could soon occur.

GBPUSD has flipped short-term bearish, 2023 lows a target for the near-term.

GBPEUR chart reveals pressures building, retest of 1.15 now back on cards.

The Canadian Dollar is expected to undergo "more Weakness Before a Revival in 2024" according to economists at CIBC, one of Canada's largest lenders and investment banks.