dollar to euro exchange rate forecast 2011

dollar to euro exchange rate forecast 2011 : The Euro has come under significant selling pressure in the early part of today’s European session, following the release of February’s whole-of-Eurozone Retail Sales figures. These figures showed that prices unexpected contracted by 0.1% in February, against analysts’ expectations of a slight increase.

The levels that investors saw on GBP/EUR and EUR/USD as of close of business last night, were pricing in a 100% chance of a 25bps rate hike by the ECB on Thursday and an outside chance of the ECB electing to raise rates by 50bps. This morning’s sales figures will have dampened concerns over inflationary pressures in the European economy, causing interest rate projections to be downwardly revised.

Yen Declines as Gain in Stocks, U.S. Retail Sales Supports Demand for Risk
The euro matched its 15-month high against the dollar and rebounded from yesterday’s one-week low against the yen as regional industrial output rose for a fifth month in February, stoking bets the European Central Bank will boost borrowing costs further. Sweden’s krona was the best performer among major currencies as the government raised its economic forecasts. Read More...

Foreign Exchange Rates – GBP EUR Gains on Negative Eurozone Sales Figures
Meanwhile, this morning’s UK PMI Services data far outstripped expectations when it showed at 57.1. Analysts had predicted that the survey would show that confidence over future demand for services in the UK had remained steady at the February level of 52.6. The significantly higher March reading will provide encouragement that the service sector, which makes up the majority of UK GDP, will be able to drag the economy back into growth again as 2011 progresses. Read More...

Economy Ministry Sees Ruble Stable in 2012-2014, Vedomosti Says
The exchange rate may reach 28.4 rubles to the dollar by the end of this year from the current 28.1, the newspaper said. The average exchange rate is forecast to be 27.9 rubles per dollar in 2012, 2013 and at 28 rubles in 2014; the forecast is based on the assumption of a stable average exchange rate between the dollar and the euro, which the ministry estimated would be $1.40 dollar per euro in 2012-2014, Vedomosti reported. Read More...

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