Tag Archives: GBP/AUD forecast

GBP/AUD Levels Drop Ahead of Tomorrow’s BoE Minutes (Matthew Vassallo)

GBP/AUD levels have continued to drop during Tuesday’s trading, moving the currency pair back below 1.79 on the exchange. As discussed in today’s earlier post the Pound has found life tough going today, following worse than expected UK inflation figures. This data stalled the Pound’s momentum from yesterday and the AUD benefitted from it. There was confidence in the AUD overnight following the latest Reserve Bank of Australia (RBA) minutes, which indicated that the Australian economy was seeing a steady improvement, news which should help protect the AUD from any further major losses.

I expect further volatility on the pair over the coming days, with a number of key economic data releases to note. Tomorrow see’s the release of the latest Bank of England (BoE) minutes, which give us a key insight into our central bank’s latest policy meeting. It will be interesting to see whether any of its members voted for an interest hike, considering the mixed messages BoE governor Mark Carney has delivered on the subject of late. With further AUD data out overnight on Wednesday and then UK Retail Sales figures on Thursday, expect further volatility on GBP/AUD before the end of the trading week.

If you have an upcoming currency requirement and would like to be kept up to date with all the latest market movements, or simply wish to compare our award winning exchange rates with your current provider, then please feel free to contact me directly on mtv@currencies.co.uk

The Aussie has strengthened – AUD selling opportunity

The Aussie has strengthened against a much weaker pound this week. The outlook would appear to favour the Aussie over the pound in the short term and if you need to sell Australian dollars for sterling, this is a very good time and close to some of the best rates we have had in recent years. The Aussie has a strong habit of strengthening against other currencies owing to its prominence as a high yielding currency. That means it offers a higher return to investors who invest there than other currencies. This means when investor sentiment is strong (as now) the currency performs well.

If you need to buy or sell Australian dollars this is well worth being aware of, for more information please email me Jonathan on jmw@currencies.co.uk

Will Aussie Weakness persist?

The Aussie dollar has fallen down to lower levels due to the Unemployment data Thursday showing a surprise increase in Unemployment down under. The expectation had been for levels to remain firm at 6.0% but the release showed 6.4% which makes a big difference. The expectations have now changed on the Australian dollar as we had previously expected an accommodating stance by the RBA (Reserve Bank of Australia) but if Unemployment is spiking like this it will put pressure on the RBA to take some action, possibly some easing measures including cutting interest rates.

For more information on the AUD forecast please contact me directly on jmw@currencies.co.uk

GBP/AUD Rises Following UK PMI Data (Matthew Vassallo)

GBP/AUD rates have spiked back up during Tuesday’s trading, following positive UK PMI Services data this morning. The figure released of 59.1 came in above the expected 57.9 and immediately gave Sterling a boost against the AUD.

The markets had been poised overnight for the release of the latest Reserve Bank of Australia (RBA) interest rate decision and subsequent statement. Interest rates were kept on hold at 2.5% as expected but RBA governor Glen Stevens alluded to the fact they would remain on hold for the foreseeable future, which is likely to handicap any AUD spikes in the short-term. With GBP/AUD rates moving back through 1.81 on the exchange today, it seems to have diluted any hope that last week’s positive momentum for the AUD was going to move it below 1.80 against Sterling anytime soon.

Looking ahead to the rest of the week and the key day is likely to be Thursday. Overnight we have the release of the latest Australian unemployment figures and then the Bank of England (BoE) interest rate decision and monetary policy statement. These are usually key market and are likely to cause additional market volatility.

If you have an upcoming currency requirement and would like to be kept up to date with all the latest market movements, or simply wish to compare our exchange rates with your current provider, then please feel free to contact me directly on mtv@currencies.co.uk

Where Next for GBP/AUD Exchange Rates? (Matthew Vassallo)

GBP/AUD rates remained flat during Thursday’s trading ahead of key economic data releases overnight. We have Australian inflation data, which if positive could help push the AUD back towards 1.80. It did seem as if the AUD was building momentum earlier this week and if Chinese PMI data early tomorrow morning is positive, it is highly likely the AUD will benefit from this.

Australia relies heavily on its export trade and with China being its largest trade partner, the Australian economy is extremely reliant on positive, continued growth in the Chinese economy. It was no coincidence that when Chinese economy stagnated, the AUD lost value against most of the major currencies. Of course there are other variables to consider but it is one of the key reasons the RBA were keen for Australia to expand their trade arms (as proven with their recent trade agreement with Japan).

Personally I feel that GBP will struggle to move back to the four year high witnessed against the AUD at the turn of the year but current levels still offer some fantastic buying opportunities. It may be prudent to consider a forward contract, in order to protect yourself against future market losses.

If you have an upcoming currency requirement and would like to be kept up to date with all the latest market movements, or simply wish to compare our award winning exchange rates with your current provider, then please feel free to contact me directly on mtv@currencies.co.uk

GBP/AUD Rates Drop During Tuesday Trading (Matthew Vassallo)

GBP/AUD rates have dropped during Tuesday’s trading, which is a likely market reaction to RBA governor Glen Stevens speech last night, in which he was very positive regarding the Australian economic recovery. He stated he was happy with the current monetary policy and despite confirming he would act again if necessary, the markets have reacted positively to his statement.

This positive spike is likely to push GBP/AUD rates back toward 1.80 on the exchange, so if you have a short-term AUD requirement it may be worth looking at our forward contract options. This allows you to lock in an attractive exchange rate for a set period of time, without being concerned if the exchange rates get worse during this period.

The AUD has struggled against most of the major currencies recently, in particular the Pound. Although it has moved away from the lows witnessed at the turn of the year, the AUD has lost over 40 cents from the highs of 2013. This has allowed the Australian economy to kick start its export industry again and we are now potentially seeing the start of a recovery. Whilst I do not anticipate a move back to 1.40 we could see GBP/AUD rates breach 1.75 before the end of the year, if the improvement seen in the Australian and Chinese (Australia’s largest trading partner) economies continue.

If you have an upcoming currency requirement and would like to be kept up to date with all the latest market movements, or simply wish to compare our award winning exchange rates with your current provider, the please feel free to contact me directly at mtv@currencies.co.uk

GBP/AUD Levels Drop Following Positive Chinese Data (Matthw Vassallo)

GBP/AUD rates have dropped slightly over the past 24 hours, following the release of the latest Chinese GDP figures. Rates were sitting close to a 3 month high but despite the positivity surrounding the UK economy, Sterling was struggling to make any serious moves towards the four year highs we witnessed at the start of 2014. If we are going to see rates put pressure on 1.90 again, then another shift in market conditions is certainly required. Whether this is an interest rate hike by the BoE, or further cuts by the RBA, it needs to be significant enough to drive Sterling up by roughly another 7 cents.

Personally I feel this is unlikely in the current climate and even more so following the release of the latest Chinese data, which has boosted the AUD. The Australian economy relies so heavily on positive growth in China (they are Australia’s largest trade partners), which means that the AUD is likely to find market support in the short-term following the release and a move back towards 1.80 is now a strong possibility.

The current levels still offer some excellent buying opportunities and if you do have an AUD purchase over the coming months it may be prudent to consider a forward contract around the current levels; in order to protect yourself against any potential market losses.

If you have an upcoming currency requirement and would like to be kept up to date with all the latest market movements, or simply wish to compare our award winning exchange rates with your current provider, then please feel free to contact me directly at mtv@currencies.co.uk

GBP/AUD Rates Drop During Tuesday Trading (Matthew Vassallo)

GBP/AUD rates have dropped during Tuesday’s trading, following worse than expected UK economic data this morning. Industrial and Manufacturing Production data came out below market expectation and this caused the Pound to fall against most of the major currencies. GBP/AUD dipped below 1.82 at the low, although has recovered above this level by close of European trading.

Key data for the rest of this week includes Australian consumer confidence figures, which are release overnight and unemployment data out overnight on Thursday. The latest unemployment figures are expected to get worse and if this prediction is accurate, we could see GBP/AUD rates move back above 1.83 on the exchange. On the UK’s side all eyes on the Bank of England’s (BoE), which are released on Thursday. Although interest rates are expected to remain unchanged at 0.5%, any mention of prospective hike is likely to benefit the Pound.

If you do have an upcoming currency requirement and would like to be kept up to date with all the latest market movements, or simply wish to compare our award winning exchange rates with your current provider, then please feel free to contact me directly on mtv@currnecies.co.uk

GBP/AUD Rates Edging Towards 1.82 (Matthew Vassallo)

GBP/AUD rates are back through 1.81 following a positive move for the Pound today. The AUD had started to creep back and it seemed as if a move back under 1.80 was on the cards but once again negative news from Australia, coupled with the positive UK data already discussed, pushed GBP/AUD back above 1.81. By close of European trading rates were edging ever closer to 1.82 on the exchange and I wouldn’t be surprised if tomorrow’s data pushed the currency pair through this level.

Looking forward and overnight Reserve Bank of Australia (RBA) governor Glen Stevens is talking and we will also wake up to the latest set of Retail Sales figures, which if positive could help to support the AUD around its current level.

If you have an upcoming currency requirement and would like to be kept up to date with all the latest market movements, or simply wish to compare our award winning exchange rates with your current provider, then please feel free to contact me directly on mtv@currencies.co.uk

GBP/AUD spikes to 1.8177 representing an attractive buying AUD rate.

The Australian Dollar has been weakening against a host of the majors after the Reserve Bank of Australia kept interest rates on hold a couple of days ago and last night their latest trade balance figures tipped GBP/AUD up into the late 1.81′s spiking at 1.8177. There was a severe weakening in the trade deficit and recent comments by the RBA Governor Glenn Stevens stating that it is unlikely we will see any further movement in the base rate of interest in the near term has caused the AUD to slide.

Looking forward it still seems unlikely we will see the pound rise to the highs of the year which spiked over 1.90 but I do not expect to see the rate fall below 1.80. If you are looking at buying or selling the AUD and would like to make a saving on your currency exchange by achieving a better rate than what the banks in the UK and Australia would offer then please feel free to contact myself Ben Amrany at bma@currencies.co.uk I will explain the service we can provide and all teh options available to you in securing an attractive rate of exchange.

Thank you for reading

Ben Amrany

bma@currencies.co.uk