Tag Archives: GBP/AUD forecast

GBP/AUD Forecast (Matthew Vassallo)

GBP/AUD rates continue to trade above 1.80 on the exchange, providing good buying opportunities for those holding GBP. It’s been a volatile few days for the Pound with losses against the AUD last week, following the latest UK quarterly inflation report. It now seems as though UK interest rates are unlikely to be raised until the last quarter of next year, news which knocked investor confidence in the Pound.

This morning we had the latest set of UK Retail Sales figures and with an improvement from 0.3% to 0.8% the Pound found support after a difficult few days, with GBP/AUD moving back above 1.82.

It will be interesting to note how any improvements in China’s economy will effect the AUD, as generally growth in China’s economy is considered a positive for the Australian economy due to their trade links and can often help strengthen the AUD’s market position.

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 Spike Over 4 Cents (Matthew Vassallo)

It’s been a volatile few days for GBP/AUD exchange rates, with the Pound gaining unexpected ground yesterday. The pair moved over four cents during Wednesday’s trading, with the Pound moving through 1.86 at the high. This move was for the most part attributed to a 0.7% decline in Brent oil futures, which caused a major selloff of commodity based currencies, such as the AUD.

We have seen the start of a recovery during Thursday morning trading, with better than expected Australian employment data released overnight helping to move GBP/AUD back towards 1.85 on the exchange.

With a host of key data releases for the UK alter today, including the latest Bank of England (BoE) interest rate decision and monetary policy statement. We also have the NIESR’s Gross Domestic Product (GDP) estimate and then overnight the latest Reserve Bank of Australia (RBA) monetary policy statement. All of these are considered key market movers and I anticipate further spikes on GBP/AUD throughout the day.

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

Are GBP/AUD Rates Heading Back to 1.85? (Matthew Vassallo)

GBP/AUD rates have spiked during Wednesday morning’s trading, with the pair moving back through 1.84 on the exchange. It’s been a volatile few days for the currency pair, with positive moves early this week for the Pound, followed by a realignment for the AUD yesterday. Sterling benefitted from positive UK Manufacturing data on Monday, which helped push the Pound’s levels up.

The question now is whether this positive trend will continue and push GBP/AUD rates up through 1.85? Personally I still feel we will need to see a positive stance from the Bank of England (BoE) in terms of a prospective interest rate hike and we also need to consider That they will not want Sterling’s value to soar for fear of alienating our trade partners.

With a host of economic data releases for the UK tomorrow, along with Australian employment data being released overnight, we could see a defining move on GBP/AUD if data comes outside of expectations.

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 Dips During Wednesday’s Trading (Matthew Vassallo)

GBP/AUD rates have dipped during Wednesday morning’s trading, as the markets ready themselves for the US FED interest rate decision and monetary policy statements this evening. It is widely anticipated that the FED will put an end to their Quantitative Easing (QE) programme, a decision which is likely to have huge knock on effects for the global market.

It is likely the markets are currently factoring this decision in to any rate movements, so if this decision is not made as predicted expect further volatility for GBP over the coming days. The reason the AUD is strengthening is that any decision by the FED to end their QE programme will be seen as a positive for the US economy. This in turn is likely to give investors more risk appetite and they will start buying some of the more riskier currencies, including the AUD.

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

Will GBP/AUD Rates Head Back Under 1.80? (Matthew Vassallo)

GBP/AUD rates have dipped during Wednesday’s trading, with the pair heading back under 1.83 on the exchange. GBP/AUD rates have remained range bound recently, fluctuating between 1.80-1.85. Improved Chinese economic data helped to steady any further AUD loses against GBP, following a very poor run which saw rates move from 1.70, right up to 1.83-1.84 in a short space of time.

This move was a clear reminder of how aggressive and quickly the currency markets can move and whilst I don’t expect Sterling’s momentum to continue at that pace, the AUD may struggle to make any significant inroads, unless there is a shift in market conditions.

It will be interesting to see the market reaction to tonight’s speech by Reserve Bank of Australia (RBA) governor Glen Stevens, along with Australian Business Confidence figures released overnight.

Personally I would be very tempted to take advantage of the current levels as any dip in the UK recovery, or indication that the Bank of England (BoE) may hold back an interest rate hike, we aere likely to see the AUD realign towards 1.75.

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 Dip During Tuesday’s Trading (Matthew Vassallo)

GBP/AUD rates have dipped again during Tuesday’s trading, with rates now floating between 1.82-1.83 on the exchange. This move is a continuation of yesterday’s spike and it does seem as if the AUD has started to realign itself after a poor recent run against GBP. This was to be expected following the aggressive move witnessed a couple of weeks ago when the Pound gained almost 15 cents against the AUD.

However, following the Reserve Bank of Australia (RBA) decision to keep their base interest rate on hold at 2.5% and their subsequent comments, we could find that today’s AUD strength does not last for long. Whilst rates were expected to be kept as they were, it was their accompanying statement that for me was key. RBA members indicated that they still felt the AUD was too strong against the major currencies, including the Pound. To me this is a key as its very rare that a central bank will divulge this information unless they anticipate it will help to counter their concerns and as such I would expect the AUD to weaken again because of it.

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 Thursday’s Trading (Matthew Vassallo)

GBP has struggled during Thursday’s trading, with losses against all the major currencies. These losses are particularly apparent against the AUD, with the negative trend pushing GBP/AUD rates down to 1.8344 at today’s low. Looking at today’s economic data releases and there is nothing which indicated Sterling should have dropped, so it may be the markets realigning after the aggressive Sterling spike we’ve witnessed over the past couple of weeks.

GBP rates have performed well against the AUD of late with a dramatic 15 cents swing over the past few weeks, before today’s correction. Whilst the Reserve Bank of Australia have been keen to see the AUD lose value in order to boost exports, I doubt they anticipated the major drop we saw following the recent poor Chinese data, which helped to push GBP/AUD rates back above 1.85 at the recent high. It is likely the markets have now realigned after an over correction, although I do not anticipate this trend to continue for long.

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 Remain Volatile (Matthew Vassallo)

It’s been a volatile few weeks for GBP/AUD exchange rates but the main theme has being continued weakness in the value of the AUD against GBP. The pair have moved over 13 cents in the past couple of weeks, a huge swing which would equate to the difference of over 22,500 AUD on a 200,000 GBP/AUD currency transfer. This is a key example of why it is essential to stay in close contact with your currency broker, to ensure opportunities like these are not missed.

The reasons for this aggressive move are varied but a key component are the recent Reserve Bank of Australia (RBA) minutes, coupled with poor economic data from China. The RBA still feel the AUD is too strong, which is negatively affecting their export industry and as soon as a central bank admits this, it is likely the prospective currency will weaken as a result. Add to this concern over a slowdown in Chinese economic growth and it has conspired to push GBP/AUD back to the current levels. I do not expect this trend to continue back to the four year highs witnessed last year but similarly the AUD may struggle to gain any serious momentum until there is another shift in market conditions and a change of stance by the RBA.

Looking ahead and we have a Financial Stability review overnight, followed by the RBA annual report and RBA governor Glen Stevens speech tomorrow. These are likely to be key market movers and if there is any change in stance by the RBA we could see the AUD start to recover some of the ground it’s lost against GBP over the past couple of weeks.

If you have an upcoming currency requirement and would like to be kept up to date with all the latest market movers, 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

AUD still weakening but is more settled. (Ben Amrany)

The Australian Dollar has been extremely volatile of late with declines against a host of the majors but most notably against the pound. We have seen over a thirteen cent high to low movement in the last 2 weeks with the pound now at the high point representing good buying opportunities.

The Scottish referendum result has given the pound a boost but recent comments by the Reserve Bank of Australia and the lower than expected economic data from China has contributed to the Aussies declines. The close trading ties between the two countries mean that when there is a slowdown in economic growth for China the AUD tends to weaken as it can hurt their exports.

Looking ahead the Financial stability report over night followed by the RBA Glenn Stevens speech the day after is likely to keep the AUD fairly volatile. Any change in stance by Glenn Stevens with regards to interest rates could assist the AUD to recover but I feel the pound will remain healthy and try and push another 1% out of the Dollar this week.

If you require assistance to buy or sell the AUD over the coming weeks or months why not contact myself Ben Amrany at bma@currencies.co.uk. I can explain all the options available to you to try and help you minimise your risk to the currency markets and help you beat teh rates your bank will offer you here in the UK and in Australia.

Thank you for reading.

Ben Amrany

bma@currencies.co.uk

GBP/AUD Rates Move Back Towards 1.80 (Matthew Vassallo)

It’s been a volatile few days for GBP/AUD exchange rates, with the general theme being a weakness in the value of the AUD against GBP. GBP/AUD rates have moved over 7 cents from last week and at yesterday’s low had moved back above 1.80 against Sterling.

The recent Reserve Bank of Australia (RBA) minutes, coupled with poor data from China has hit the AUD hard just as it seemed it was gaining some momentum after a difficult 12 months against most of the other major currencies. The RBA still felt the AUD was too strong which was negatively affecting their once affluent export industry. Add to this concerns over a slowdown in Chinese economic growth and it has conspired to push GBP/AUD back to the current levels. In fact we have even seen a positive move for the AUD today due to mixed inflation data for the UK, which has helped push the currency pair back under 1.80 on the exchange.

With all eyes now focused on Thursday’s Scottish referendum we could see further volatility on GBP/AUD as Sterling is likely to be heavily affected by the result. We also have the latest RBA report and annual bulletin overnight on Thursday so expect further movement following these releases.

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