Tag Archives: westpac
As we start what is almost certain to be another busy and volatile day on the money markets what factors should you be watching out for today should you have an interest in the Australian Dollar? Overnight Westpac released its latest consumer confidence figures which were substantially down. Normally I would expect AUD weakness as a result, however we have actually seen some small gains against both the Pound and Euro indicating how out of favour these two currencies are currently. For me any gains from the pounds point of view will depend on whether the UK can avoid the triple dip recession. Indications from the NIESR (National Institute for Economic and Social Research) a well respected think tank, were certainly positive and suggest that the UK may just avoid recession by forecasting 0.1% growth for Q1 of 2013. It is certainly very finely balanced, however I am confident recession can be avoided and we may see a much needed boost for the pound as a result. Anyone with an interest in GBP/AUD should keep a keen eye on GDP released on the 25th April, a key day in my view.
Shorter term look out for Australian employment data overnight tonight, forecast to stay at 5.4% month on month, any deviation form the expected could cause volatility overnight. Also watch out for the FOMC (Federal Open Market Committee) equivalent of the MPC in the US, as they will release their minutes from the Federal Reserves last interest rate meeting. This can influence investors risk appetite depending on the rhetoric from the minutes and with the AUD a favourite for currency investors it may cause market fluctuation for the AUD following its release at 19:00 BST.
To discuss the market trends and current data that might affect your particular currency transfer then please contact the office on 01494 725353. I work for one of the UK’s longest standing independent brokers I am very confident I can undercut any price you have been offered. Should you wish to test the service or discuss the contracts we have available then please email me with a brief description of your current trade and I will happily provide you with a live quote. I can be reached by email on firstname.lastname@example.org