Tag Archives: GBP/AUD forecast
GBP has lost ground against the AUD over the past couple of days, moving back down towards 1.85 at the low. This move is in stark contrast to the recent trend, with Sterling having started the week putting pressure on 1.89. Sterling has continued to perform well against the AUD for some time but it does seem as if the recent spike may be nearing an end, with a lot of resistance being met on the exchange between 1.89-1.90.
Australian Gross Domestic Product (GDP) figures were released overnight and seemed to back up this theory, with figures coming in better than expected. This should help to build market confidence in the AUD, which has been clearly lacking for many months. However, despite this more positive news for the Australian economy I do not anticipate a major turnaround for the AUD in the short-term. There remains an on-going concern over the demand in China for Australia’s raw materials, a scenario that has allowed the Australian economy to flourish over recent years. There were also the comments made recently by the Reserve Bank of Australia (RBA), which confirmed they still felt the AUD ‘remained high by historical standards’. This would indicate they are happy for the AUD to lose further market value, with the hope this will improve and sustain their export industry.
If you have an upcoming AUD currency requirement and you would like to be kept up to date with all the latest market developments on this or any other currency pair, then please feel free to contact me directly at email@example.com. Alternatively, you can call our trading floor on 0044 1494 725 353 and ask for Matt and I will happily provide you with a live exchange rate.
Yesterday the RBA confirmed that they would be leaving the base
rate of interest at 2.5% The announcement was expected and caused some AUD
strength after the release but today we have seen the currency slightly weaken
against some of the majors.
This evening the we will hear what the latest revision of the
growth figures (GDP) for Q4 of last year will be. We are expecting reasonably
strong growth which may cause some AUD strength overnight.
At the moment the rates seem to be fairly range bound between
1.85/1.8650 for GBP/AUD. Unless there is a big change in the GDP
figures tonight I would expect this trend to continue. However tomorrow
the UK will have their inflation report hearings and I feel this may cause
sterling to weaken slight at some point tomorrow and could give AUD sellers
some relief and achieve slightly better levels than what is currently
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GBP has rallied once again against the AUD during Friday’s trading, with rates moving up through 1.87 on the exchange. Sterling is continuing to find market support, despite some mixed data for the UK this week. UK Gross Domestic Product (GDP) figures were released on Wednesday and came out slightly worse than expected. Despite some early loses, Sterling recovered against the major currencies and we are now trading close to a four year high on GBP/AUD, providing some excellent buying opportunities.
The AUD has been handicapped over recent months following poor growth forecasts and rising unemployment in the Australian economy. There has also been a slowdown in China’s demand for their raw materials and with Australia so reliant on their own affluent export industry to support a growing economy; this news has negatively impacted the AUD. With further talk recently regarding a slowdown in China’s economic growth, we may find the AUD will continue to be hampered over the coming weeks.
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 email@example.com. Alternatively, you can contact one of our experienced brokers on 0044 1494 787 478.
GBP/AUD rates dropped during Monday’s trading, with pressure being put back on 1.84, having started the day up around 1.86 on the exchange. Sterling has continued to perform well against the AUD of late and it would be no surprise to see today’s loses reversed over the coming days. Despite the fact that Sterling’s good run seems to be running out of steam against the other major currency pairs, I still believe that the AUD has further scope for market weakness. The Reserve Bank of Australia (RBA) seem unconcerned by the major market loses experienced and feel that a weaker AUD will help to enhance their flagging export industry. The Australian economy is heavily reliant on the export of their raw materials and in particular the demand in China for these. China’s economy has continued to grow at such a pace that it has supported this demand in the past but now, as their demand slows, Australia’s exports have weakened and this is part of the reason their economy has stagnated over recent months.
Economic data to keep an eye on this week includes tomorrows UK Inflation report and Australian construction data. Inevitably though, the key data will be the release of Wednesday’s UK Gross Domestic Product (GDP) figures, which is likely to cause additional market volatility and could boost the Pound further if figures are positive.
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 firstname.lastname@example.org. Alternatively, you can call our trading floor on 0044 1494 787 474 and just ask for Matt.
GBP/AUD rates have continued to fall during Tuesday’s trading, providing some much needed respite to those looking at selling their AUD positions. Today’s move is a continuation of last week’s trend where we saw the AUD strengthen significantly, moving it away from the recent lows against GBP. We have now seen Sterling drop by almost 10 cents in only a couple of weeks and with positive data emanating from Australia, we could see the AUD put pressure back on 1.80 before long.
The AUD has struggled against most of the majors for much of last year, particularly against GBP. GBP/AUD rates were trading around 1.44 in early 2013, before a loss of over 40 cents pushed exchange rates back up around 1.90 and it seemed as if the trend was certain to continue on an upward curve. However, as often happens the currency markets have proved unpredictable and a change in market sentiment could now mean a change in fortunes for the AUD. With growth forecasts improving again and the demand in China for their raw materials starting to increase, there are reasons to be optimistic. When you consider the Reserve Bank of Australia’s (RBA) announcement that there will be no further interest rate cuts in the foreseeable future and a concern by the Bank of England (BoE) that the Pound was gaining too much value, I am of the opinion that GBP/AUD rates could struggle to make any significant inroads back toward 1.90, under the current market conditions.
If you have an upcoming currency requirement and you would like to be kept up to date with all the latest movements on GBP/AUD rates, or any other currency pair, please feel free to contact me directly at email@example.com. Alternatively, you can contact one of our experienced brokers on 0044 1494 787 478.
The AUD has made further inroads against the other major’s in early morning trading, following the release of their latest Retail Sales figures overnight. The figures of 0.5%came in better than expected and helped continue the AUD’s run against GBP, with rates putting pressure back on the 1.82 level. This run for the AUD started following the Reserve Bank of Australia’s (RBA) comments that there would be no further interest rates cuts, which eased market concern and moved the AUD away front the recent lows against GBP.
With positive moves against both the EUR and USD as well, it may be that the AUD can start to claw back some of its recent loses. Although I don’t anticipate major GBP loses, as the Pound is now being supported by a far healthier economy, it may be that we have seen the end of Sterling’s run and we will now need a shift in market sentiment if GBP/AUD rates are going to move back towards 1.90.
If you do have an upcoming AUD requirement and would like to be kept up to date with all the latest market movements, or simply wish to compare our exchange rates against your current provider, then please contact me directly at firstname.lastname@example.org. Alternatively, you can contact one of our experienced brokers on 0044 1494 787 478.