In just over an hour’s time the UK will publish its first quarter GDP figures. The expectation is for a growth of 0.1% meaning the UK would avoid a triple dip recession and if the figures stay positive we could see a sharp rally for Sterling shortly after the announcement. However, the figures are still concerning for the UK economy as a whole. This is probably the most important data release of the year so far.
Since the beginning of the credit crunch in 2008 we have seen the Aussie Dollar strengthen by over 30% when the Aussie was trading well above the levels of 2 to the Pound. The Australian economy has continued to go from strength to strength and has gone hand in hand with Chinese growth so as long as the Chinese economy grows this could keep the AUD very strong.
If you have a requirement to buy Australian Dollars and you are worried about what may happen later today with GDP figures and want to receive a free quotation please get in contact via email Tom Holian [email protected]
Let me know your thoughts about what you think will happen with GDP figures this morning or feel free to see what our poll of analysts think by visiting www.poundsterlingforecast.com