JP Morgan’s EUR/USD forecast profile is unchanged this month and continues to show a slower decline for the rest of the year, after an unprecedented -11% drop in Q1. JPM’s Quarter-end targets are 1.07 in Q2, 1.06 in Q3 and 1.05 in Q4. FX markets today: EUR/USD exchange rate surges to 1.1280 Weak US Job report sparks USD fall JP Morgan think market getting carried away with Euro forecasts ECB unlikely to be enthused about. Morgan made a call on EUR/USD nine months ago, and they were correct. But, the extent of the Euro’s climb has caught analysts by surprise leading them to shift their year-end target for the. JP Morgan raises targets for EUR/USD. Investment bank sees a stable USD at best. CPI disappointment in the US continues to resonate in Dollar markets. JP Morgan forecast that, over the medium-term, the exchange rate will likely stabilise in the EGP 15-16 range as the backlog becomes reduced and the external deficit improves.
Pound Sterling to Euro, US Dollar Trend Higher after BoE Minutes
rnrnThe Pound fell back to 1.41 against the Euro and 1.55 against the US Dollar on Thursday as the UK's retail sales report fell short of forecasts. Today's UK loans for home purchase figures could affect Pound movement before the weekend.
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Both the GBP/EUR and GBP/USD exchange rates were able to advance following the publication of minutes from the latest Bank of England (BoE) meeting on Wednesday. The minutes revealed that the Monetary Policy Committee (MPC) was of one mind about leaving borrowing costs on hold and that the decision was clear cut for all members. However, it was also noted that the situation in Greece had had a big impact on the decision making process. With the odds of a Grexit taking place now considerably smaller than they were, investors now believe that policymakers are likely to push for higher borrowing costs at next month’s gathering. This speculation drove the Pound higher across the board. rnrnA quick foreign exchange market summary before we bring you the rest of the report:rnrnOn Friday the Euro to British Pound exchange rate (EUR/GBP) converts at 0.897
Today finds the pound to euro spot exchange rate priced at 1.115.
Zeppelin download for windows. FX markets see the pound vs new zealand dollar exchange rate converting at 2.042.
Download Free Eur Usd Forecast 2015 Jp Morgan For Mac
The pound conversion rate (against us dollar) is quoted at 1.235 USD/GBP. https://powerfulhope.weebly.com/ebook-the-amazing-photodeluxe-book-for-mac-download-online.html.
NB: the forex rates mentioned above, revised as of 13th Mar 2020, are inter-bank prices that will require a margin from your bank. Foreign exchange brokers can save up to 5% on international payments in comparison to the banks.rnrn
FX Outlook Now: Retail Sales Flop Triggers GBP to EUR, USD, NZD Exchange Rate Losses
rnrnHowever, Sterling’s uptrend didn’t last for long and the British currency quickly fell against both the Euro (GBP/EUR) and US Dollar (GBP/USD) following the publication of the UK’s retail sales report. The -0.2% drop in sales, month-on-month, disappointed hopes for a 0.4% gain and took the annual figure lower. Consumer spending fell in spite of soft inflation and declining average store prices and the Pound subsequently declined against peers like the Australian and New Zealand Dollars.rnJames Knightly of ING bank observed; ‘UK retail sales for June are surprisingly soft. Overall, it isn’t great news, but we feel that the trend for consumer spending remains strong. Indeed, retail sales are still growing 4% year-on-year and with consumer confidence at 15 year highs, real wages rising by around 3% year-on-year and employment continuing to move higher, the outlook remains positive for spending. We still look for a February Bank of England Rate Hike.’rnrnForeign Exchange Newsflash: GBP/USD Exchange Rate Drops to 1.5582 Today rnrn
Industry Expert Exchange Rate Forecasts: JP Morgan Analysts See GBP to USD Conversion Rate Trending in Narrow Range
rnrn‘Cable’ is currently trending on the cusp of 1.56 but analysts with JP Morgan have presented the following forecast for the pairing; rnrn’A failure to clear the upper barrier would leave the H & S topping pattern intact, which implies that the market is at least missing a stronger C-wave down into 1.4951/1.4887 (pivot/76.4 % on higher scale). Above 1.5815 though, we'd see 1.6052 (pivot) back in focus whereas a break below 1.5390 would hand over full control to the bears.’rnrnFX Rates Now: GBP/EUR Trending at 1.4206 Todayrnrn
Eurozone Consumer Confidence Data Could Impact GBP/EUR Exchange Rate Trading
rnrnThe GBP to EUR currency pair has moved from a high of 1.4304 to a low of 1.4173 today as investors responded to calming German concerns and the UK’s sub-par retail sales report. However, the Pound may be able to move away from the day’s low if the Eurozone’s Consumer Confidence index reveals the slide in sentiment anticipated by economists. The measure is forecast to fall to -5.8 from -5.6.rnrnAdvertisement
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