Forex Rate Forecasts: August 01, 2016 - September 01, 2016
Evgeny Ilyukhin | Aug 08, 2016 01:59PM ET
This article aims to provide price forecasts for currency exchange rates for September 01, 2016. Thirteen major currency pairs have been selected for forecasting. The table below shows the monthly currency exchange rates over the period from April 2016 to August 2016 (currency exchange data) and forecasted period - August 2016 (author’s calculations).
Forecasted values: increase in green; decrease in red. Forecasts are projected with an Autoregressive Integrated Moving Average (ARIMA) model based on monthly historical data. It is advised to use forecasted values for identifying the short-term trends over the period firstly.
The notable positive changes are expected for EUR/GBP (2.54%). GBP/USD (-2.66%), GBP/JPY (-2.08%) and CHF/JPY (-2.07%) will likely drop in price by the end of the month.
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