Australian Dollar Forecasts Vs UK Pound, NZ Dollar And Euro: CPI, ECB Speculation & Chinese Data

This is source I found from another site, main source you can find in last paragraph

The Sterling had suffered yet another day of losses on Tuesday and traded down against most major currencies as UK CPI data showed that inflation slowed from 1.9% to 1.6% in July, primarily driven down by the Retail sales sector.

The Office for National statistics (ONS) said a recent drop in clothing prices provided the largest contribution to the fall in the Inflation rate. The CPI however remains well above the average wage which grew by just 0.6% in the three months to June. Economists had expected the CPI inflation figure to fall to 1.8% in July.

The Pound Sterling to Australian Dollar exchange rate is trading down 0.01 per cent at 1.78741 GBP/AUD.

The Pound Sterling to Canadian Dollar exchange rate is trading up +0.11% at 1.82020 GBP/CAD.

The Pound Sterling to Euro exchange rate is trading up +0.33% at 1.25178 GBP/EUR.

The Pound Sterling to New Zealand Dollar exchange rate is trading up +0.46% at 1.98265 GBP/NZD.

The Pound Sterling to US Dollar exchange rate is trading down -0.14% at 1.65966 GBP/USD.

Tuesdays UK CPI data saw the Pound to Euro exchange rate slump from a high of 1.2543 to reach a daily low at 1.2511.

Tony Wilson, head of strategy at the foreign exchange specialists FEXCO, said the "surprisingly large" fall in CPI offered more concrete insight into the likely course of the Bank of England's monetary policy.

He added: "With CPI now comfortably below its 2% target, the Bank has no need to use interest rates to tame inflation. Despite the contradictory messages given by governor Carney, the doves clearly still rule the roost."

Following yesterday’s losses, Sterling has gained across the board today following the highly anticipated Bank of England minutes. The minutes for the month of August revealed that the Bank of England policy makers were split on an interest rate hike.

The interest rate vote of 7-2, showed two MPC members (Weale and McCafferty) voted for a 25 basis point rate hike in August. Markets reacted to the split decision and following the release the Pound gained across the board.

Pound to Euro and Dollar exchange rates reach new highs

The Pound to Euro exchange rate gained from a low of 1.2471 this morning, touching a high of 1.2543 following the release, before losing momentum and consolidating at 1.2517 GBP/EUR.

Ahead of the Minutes the Pound to US Dollar exchange rate dropped to a low of 1.6597 as traders took profit ahead of the release. Following the release of the Minutes, the GBP/USD surged over 40 pips to trade above the psychologically important 1.6650 level before dropping back to trade 0.09% up on the day at 1.65635.

Tomorrow Retail sales will headline the UK economic calendar. The figure is due at 09.30am and is expected to show sales have declined for the month of July. A positive figure above 3.1% is likely to be Sterling positive, whilst a figure below 3.1% for the Month of July is likely to be Sterling negative.

This is source I found from another site, main source you can find in last paragraph

Source : https://www.exchangerates.org.uk/news/10060/pound-exchange-rate-today-gbp-eur-usd-aud-nzd-inr-cad-split-vote.html

nation

Small

GBP To EUR, USD, AUD, NZD, INR And CAD - Exchange Rates Outlook And Analysis Today
Currencies: Dollar Gets The Benefit Of The Doubt, For Now.
Weekly Trading Forecast: How Long can the US Dollar Defy Gravity?
NZ Dollar Extends Gains After Dairy Prices Climb
Dollar Bulls Back in Control, GBP Crashes
NZ dollar falls vs euro as EU inflation, jobless data add to case for QE 'tapering'
Pound Gains After Latest Brexit Poll, US Dollar Eyeing PCE Data
FOREX-Euro rallies vs US dollar on data, risk appetite
GLOBAL OUTLOOK OCT 13: Risk Assets, Bank Call Options Up, USD Down
Euro latest: EUR/GBP holds 2017 LOWS after snap election announcement