Exchange Rate Forecasts

The Euro looks set to remain under pressure against the Dollar over a multi-week basis now that it has broken below a key level on the charts, but in a week devoid of Eurozone data Wednesday's U.S. Federal Reserve decision could offer the single currency some relief.

"GBP/USD fell with the euro and has slipped below its 200-day average, which looks ominous" - Société Générale.

GBPEUR continues to respect a well-understood range, but the downside boundary is coming back into focus.

The Canadian Dollar is a sell with strategists at CIBC Bank who note market positioning is unsupportive and incoming Canadian economic data is likely to disappoint.

The New Zealand Dollar's decline could be done according to new forecasts from Westpac, the lender and investment bank.

Researchers at investment bank TD Securities have released a 'cheat sheet' that offers some insights into potential targets for the Euro-Dollar exchange rate (EURUSD) on the various outcomes likely to emerge from the European Central Bank's interest rate decision.

The Pound has fallen 2.30% from its 2023 highs against the New Zealand Dollar thanks to a recent cooling in Bank of England interest rate hike expectations and improved sentiment towards China.

GBPCAD has been edging lower through the August-September period and is now at a key support zone where failure could confirm the 2023 uptrend has likely ended.

Commodities, stocks and risk-sensitive currencies such as the Australian Dollar benefited at the start of a new week amidst a retreat in the Dollar and some positive data out of China.

EURUSD is forecast to extend over the coming days as analysts see few supportive scenarios on offer at the European Central Bank and the Dollar's bull run becomes increasingly entrenched.

The Pound to Dollar exchange rate is said to be at risk of further losses in the short-term and even a positive UK labour market report on Tuesday would unlikely be enough to resist the broader Dollar trend.

GBPEUR risks slipping towards the bottom of its recent range over the coming days if UK wage data comes in below expectations and the European Central Bank (ECB) hits the right notes on Thursday.

One of the most prominent banks on the U.S. Main Street has upgraded its stance for the U.S. Dollar over the remainder of 2023, although weakness is still expected to be a feature of 2024.

A new technical analysis of the Dollar to Yen exchange rate charts suggests the recent rally is just getting started.

The British Pound and Euro have reached the "end of the road" according to a new analysis from HSBC as analysts hail the return of the "king dollar".

The Euro to Dollar exchange rate (EURUSD) is on track to extend its current decline according to a new analysis that finds the market is mispricing the odds of another European Central Bank interest rate hike.

Barclays says in a new forecast revision it turns "less hopeful" on the British Pound's prospects, particularly against the Euro, Dollar and Swiss Franc.

The Pound to New Zealand Dollar exchange rate remains in a broad multi-month uptrend but short-term is subject to a pullback.

GBPAUD extends recent pullback from highs as upside momentum wanes.

The Euro appears to have lost the initiative against the Dollar with the coming week potentially resulting in further losses for the Eurozone's single currency according to new studies.