Australian Dollar Gains Against the Pound as Chinese Stocks Roar Higher on Monday

Australian Dollar Gains Against the Pound as Chinese Stocks Roar Higher on Monday

The caution surrounding the Chinese Coronavirus issue disappeared in Monday’s trading as the Shanghai Composite index of Chinese shares moved higher by 2.3% to close back above the level of its recent mini-crash. The gains also helped the Australian stock index to a 0.24% gain as the spread of the virus did not worsen over the weekend and the People’s Bank of China (PBoC) cut the rate on medium-term lending to 10 basis points in a move to further stimulate the economy after the...
Euro Stronger Versus the Aussie Dollar But Coronavirus Fears Could Reverse the Trend

Pound Testing Higher Levels Against the Australian Dollar Into the Weekend

Ahead of the U.K. economic growth figures on Tuesday, we noted that the levels to watch were 1.9200 and 1.9400 in the GBP v AUD exchange rate. The pair now has a low of 1.9211 since then and following a rally yesterday, is now trading at the 1.9400 level. The support shown this week from buyers will give the Pound a chance to test higher levels if it can sustain the move. There are no significant data releases in the next few days that will...
Pound Higher Against the Australian Dollar as Traders Digest Data and Asian Markets Slip

Pound Higher Against the Australian Dollar as Traders Digest Data and Asian Markets...

The Pound was up 0.32% early on Thursday as traders continued to digest the recent mix of data and world news flow. Without any fireworks in the U.K. growth data, volatility is measured and the GBP v AUD exchange is trading at the 1.9300 level. A strong close for the day would be a sign that the recent 1.92-9250 level has provided some support and there may some follow-through ahead. Coronavirus Still Lurks in the Background The Shanghai Composite index of Chinese stocks saw its first...
Pound Trading Higher but Markets on Alert as Fears of a Virus Pandemic Grows

Mixed U.K. Data Leads to Muted Activity for AUD/GBP Exchange Rate

The release of U.K. Gross Domestic Product (GDP) figures for the fourth quarter saw a mixed bag of data and led to muted volatility in the GBP v AUD exchange rate. The UK economy avoided contraction in the fourth quarter alongside an upwardly revised 0.5% expansion in Q3. The data saw annual growth figures matching market expectations, however an increase in government spending and weak household spending led to a cautious trading day. The market took the positives from the data and rallied to the...
Pound Pushes Higher Against the Australian Dollar on Recent Economic Divergence

UK Economic Growth Figures and Governor Speech to Guide the GBPAUD Forecast

Today sees the release of UK Gross Domestic Product (GDP) figures for Q4, alongside a speech by Bank of England (BoE) Governor Mark Carney later in the day. Both of these events should ensure for some volatility in the GBPAUD interbank exchange rate and analysts will be watching closely to adjust their forecasts for the pair. The GBPAUD rate was hovering near the 1.9200 level which provided support into the weekend. A Cyclical Dip or Continued Post-Election Bounce? Analysts are expecting an annual growth rate for...
Australian Dollar Still Sees Virus Risks but Pound Volatility Rests on Tuesday Growth Figures

Australian Dollar Still Sees Virus Risks but Pound Volatility Rests on Tuesday Growth Figures

The GBPAUD interbank exchange rate has been range-bound after Friday’s session, with the price bouncing from 1.9200 to trading as high as 1.9420 on the day. Stocks Still Uncertain Over Virus Risks as China Goes Back to Work Friday’s big economic release was the U.S. jobs release, and despite a stronger than expected number, Wall Street closed lower on the day. In Monday trading the Shanghai Composite saw it’s sixth-consecutive positive close as traders continue to shrug off the Coronavirus fears, despite the death toll exceeding...
Australian Currency Outlook to Be Driven by External Factors in Days Ahead

Australian Currency Outlook to Be Driven by External Factors in Days Ahead

Following the RBA Governor’s testimony yesterday, the Australian dollar will see its fortunes driven largely by external factors. The Chinese Coronavirus is still a concern and markets will remain quiet until the U.S. session as the key Non-Farm Payrolls (NFP) jobs figures are released in the States. Governor Lowe Warns of Virus Risks as Interest Rates Remain Held In his semi-annual Testimony to the House of Representatives economics committee, the Reverse Bank of Australia’s Governor Philip Lowe provided some insight to the Australian dollar prospects in...
Euro Stronger Versus the Aussie Dollar But Coronavirus Fears Could Reverse the Trend

Australian Dollar Strength Continues as Sentiment Improves

The pound to Australian dollar exchange rate dipped for a third day running as the negative sentiment, which has clouded the Aussie continues to improve. The GBP v AUD interbank rate fell from its Tuesday close above 1.9300 to touch lows beneath the 1.9200 level. Economic Data Moves to Other Nations The Australian dollar has continued to see strength following the Reserve Bank’s decision to keep interest rates locked at 0.75%, which was a positive sign for the AUD after the recent losses related to the...
Pound Trading Higher but Markets on Alert as Fears of a Virus Pandemic Grows

Australian Dollar Strength Continues as Chinese Stocks Bounce

The Australian Dollar continued its gains from Monday as the market priced-in the effects of a relaxed Reserve Bank of Australia (RBA), which had kept its Official Cash interest rate on hold at 0.75%. The GBP to AUD exchange rate dropped to close near 1.9330 after touching a low of 1.9254. Commodities Are Still Mixed Amid Coronavirus Uncertainty The Australian dollar can often show a positive correlation with the fortunes of gold and the precious metal has been on a rally since December of 2019, moving from...
Australian Dollar Gains Against the Pound as Chinese Stocks Roar Higher on Monday

Aussie Dollar Strengthens as RBA Keeps Interest Rates on Hold

The Australian Dollar was higher overnight as the Reserve Bank of Australia (RBA) kept its Official Cash interest rate on hold at 0.75%. The decision to keep rates on hold was widely expected by analysts, however recent developments made sure that policy makers had a wider set of criteria to consider when making the decision. Employment Figures Removed Some Bushfire Uncertainty The exchange rate has been rising since the late-December lows near 1.8600 at the onset of the bushfire crisis. Another reason for the drop was a...