US Dollar Advances Ahead of Dominant Week for US Data

Last week’s forex markets saw the British pound to dollar exchange rate steadily declining, after the news of a public finances deficit, controversial spending decisions in the Autumn Statement and Friday’s GDP disappointment.

The USD to GBP exchange rate’s advance was slowed as investors paused before each data glut, with the final big slew of releases arriving on Wednesday, just before the Thanksgiving holiday on Thursday which saw US Dollar rates sluggish in spite of mostly positive economic news.

A quick foreign exchange snapshot:

The Pound to British Pound exchange rate: GBP/GBP converts at 1 (0 change from yesterday)
The Pound to Pound exchange rate: GBP/GBP conversion is 1.
The Pound to Euro exchange rate: GBP/EUR conversion is 1.42.
The Pound to Canadian Dollar exchange rate today is converting at 2.011 GBP/CAD.

NB: the forex rates mentioned above, revised as of 30th Nov 2015, 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. Speak to a recommended FX provider to lock in an exchange rate for your currency transfer.

Next week will be dominated by US data, with speeches by several members of the Fed likely to cause significant movement in the GBP-USD exchange rate.

Pound to Dollar Exchange Rate Forecast: Experts Warn Osbourne Has Few Options if Economy Underperforms

The Pound Dollar exchange rate was softened by warnings from various experts which highlighted the fact that George Osborne left himself little room for manoeuvre should the economy fail to perform as expected, which could lead to greater austerity or result in him having to abandon his 2019 budget targets.

The latest warnings came from credit ratings agency Fitch, who raised concerns regarding George Osborne using an unexpected improvement in public finances to cover the cost of leaving the police budget untouched, as well as supplementing the missed savings opportunity caused by his tax credits cut U-turn.

According to Fitch: ‘Debt reduction is increasingly being driven by underlying growth and revenue trends, which could reverse. Using better-than-expected revenue forecasts to scale back previously announced expenditure cuts suggests that this may pose downside risks to fiscal targets.’

US Dollar Makes Slower Advance Than Expected

The http://www.exchangerates.org.uk/news/14290/eur-exchange-rate-forecasts–euro-to-dollar-falls-on-ecb-deposit-rate-speculation.html”US Dollar started the week sluggishly, with traders holding back after news of an unscheduled Fed meeting to discuss advance and discount interest rates, with many believing a decision here could be indicative of the FOMC’s intentions at the December meeting.

An outstanding rise in US Durable Goods Orders, jumping from -0.8% to 3.0% helped the USD to advance, although the news came before the Thanksgiving holiday, which saw trade subdued.

The US Dollar ended the week bullish against many of the major currencies, advancing 0.6% against the Swiss Franc (CHF) and the New Zealand Dollar (NZD), 0.5% on the Canadian Dollar (CAD) and 0.4% on the Australian Dollar (AUD).
USD was 0.3% up against GBP on Friday.

GBP to USD Exchange Rate Outlook: All Eyes on US Non-Farm Payrolls

The last round of US Non-Farm Payroll figures have been hugely influential for the GBP USD exchange rate, with a stellar 271k jobs created.

Friday sees the release of the next round of figures, predicted to show 198k new jobs, while unemployment is forecast to remain steady at 5.0%.

A better-than-expected result for the Non-Farm Payrolls again could see the US Dollar bullish once more, resulting in significant gains against a Pound still suffering from this week’s economic news.

The pound sterling to US dollar conversion was trending around 1.5049 on Friday.

US Dollar started the week sluggishly, with traders holding back after news of an unscheduled Fed meeting to discuss advance and discount interest rates, with many believing a decision here could be indicative of the FOMC’s intentions at the December meeting.An outstanding rise in US Durable Goods Orders, jumping from -0.8% to 3.0% helped the USD to advance, although the news came before the Thanksgiving holiday, which saw trade subdued.The US Dollar ended the week bullish against many of the major currencies, advancing 0.6% against the Swiss Franc (CHF) and the New Zealand Dollar (NZD), 0.5% on the Canadian Dollar (CAD) and 0.4% on the Australian Dollar (AUD).USD was 0.3% up against GBP on Friday. GBP to USD Exchange Rate Outlook: All Eyes on US Non-Farm PayrollsThe last round of US Non-Farm Payroll figures have been hugely influential for the GBP USD exchange rate, with a stellar 271k jobs created.Friday sees the release of the next round of figures, predicted to show 198k new jobs, while unemployment is forecast to remain steady at 5.0%.A better-than-expected result for the Non-Farm Payrolls again could see the US Dollar bullish once more, resulting in significant gains against a Pound still suffering from this week’s economic news.The pound sterling to US dollar conversion was trending around 1.5049 on Friday.”

US Dollar started the week sluggishly, with traders holding back after news of an unscheduled Fed meeting to discuss advance and discount interest rates, with many believing a decision here could be indicative of the FOMC’s intentions at the December meeting.An outstanding rise in US Durable Goods Orders, jumping from -0.8% to 3.0% helped the USD to advance, although the news came before the Thanksgiving holiday, which saw trade subdued.The US Dollar ended the week bullish against many of the major currencies, advancing 0.6% against the Swiss Franc (CHF) and the New Zealand Dollar (NZD), 0.5% on the Canadian Dollar (CAD) and 0.4% on the Australian Dollar (AUD).USD was 0.3% up against GBP on Friday. GBP to USD Exchange Rate Outlook: All Eyes on US Non-Farm PayrollsThe last round of US Non-Farm Payroll figures have been hugely influential for the GBP USD exchange rate, with a stellar 271k jobs created.Friday sees the release of the next round of figures, predicted to show 198k new jobs, while unemployment is forecast to remain steady at 5.0%.A better-than-expected result for the Non-Farm Payrolls again could see the US Dollar bullish once more, resulting in significant gains against a Pound still suffering from this week’s economic news.The pound sterling to US dollar conversion was trending around 1.5049 on Friday.”

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