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Pound Exchange Rate Forecast: GBP/AUD, GBP/CAD, GBP/NZD Week Ahead

November 11, 2018 7:00 am | Modified November 9, 2018 6:48 pm
AUD, Brexit, CAD, GBP, NZD | BY Ashleigh Fox

The Pound Australian Dollar (GBPAUD), Sterling Canadian Dollar (GBPCAD) and Pound New Zealand Dollar (GBP/NZD) exchange rates could all be in for some market movement in the week ahead with a raft of economic data due to reach markets. 

For the UK, Average Weekly Earnings and Employment Change numbers will be in focus on Tuesday, followed by Consumer Price Index (CPI) figures on Wednesday. A rise in inflation could help the Pound regain some ground. However, Brexit has struck again and Sterling witnessed some losses in recent trading as optimism over a deal ebbed. With the resignation of UK Transport Minister Jo Johnson and calls for another referendum, there may be some Brexit-inspired twists and turns in the week ahead for GBP/AUD, GBP/NZD and GBP/CAD.

Pound Australian Dollar (GBPAUD) Exchange Rate Forecast

Tuesday will see the release of both Australian Business Confidence and Consumer Confidence which could give the AUDGBP exchange rate a moderate opportunity to move. Meanwhile, Thursday’s Australian Unemployment Rate and Employment Change stats could give the Aussie Dollar a significant nudge.

Sterling New Zealand Dollar (GBPNZD) Exchange Rate Predictions

It’s not a hugely influential week for the New Zealand Dollar in terms of economic data, but Thursday’s Manufacturing Purchasing Managers’ Index (PMI) could give the Kiwi currency some encouragement to fluctuate. The New Zealand Dollar has been able to claw back some ground versus the Pound (GBPNZD) in recent sessions as Brexit optimism dimmed, but a boost to manufacturing might allow the NZDGBP exchange rate to climb a little higher.

Pound Canadian Dollar GBPCAD Exchange Rate Forecast

It’s a quiet week for the Canadian Dollar in terms of domestic data, but investors in CAD will be looking at the October Existing Home Sales number. the September reading printed at -0.4% and so a rise out of contraction territory would be helpful for the Loonie to gain some ground. Oil prices have pressured the Canadian Dollar lower of late, and the Canadian Dollar US Dollar CADUSD currency pair has experienced some weakness when the US Federal Reserve indicated interest rate rises would continue in coming months.

Interbank Exchange Rates

On Friday, the GBP/NZD exchange rate was trading at levels of 1.9261. The GBP/AUD exchange rate was at levels of 1.7959. The GBP/CAD exchange rate was at levels of 1.7147.

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