Sterling exchange rates have fallen below the 1.50 level against the Australian dollar for the first time in a number of weeks, is this a good time to sell dollars? What data is likely to affect the Australian dollar this week? As my colleague Tom mentioned, we have the ECB and UK releasing their respective interest rate decisions at 12:00 and 12:45 – these should be closely monitored as they can have a big impact upon market conditions. Other data sets to keep an eye on include UK house price data from Nationwide at 07:00 on Wednesday (the UK is heavily dependent on the housing market and this data can impact GBP exchange rates heavily, and from Australia we have retail sales figures overnight also on Wednesday, any improvement and the AUD could continue its recent surge (we have seen the rates rally nearly 9% in less than three months).
As with any financial product it is imperative to look around and compare rates to make sure you are getting the best price. Through using a specialist currency broker it ensures your are getting the best market knowledge and price, something that is key to getting the very best deal on your exchange. With saving upwards of 2-3% when compared to the banks thousands of clients have benefitted from our bespoke currency service, should you wish to discuss the market in more detail and what data may affect your currency requirement then please contact Mike directly on [email protected] and I will happily give you my professional view to help you make a right decision with your exchange.