GBP – AUD Forecast for week commencing 8-7-2013
This week has a fair amount of GBP AUD data, primarily ‘Employment Change’ and ‘Unemployment Rate’. Today’s trading opened close to the high of the day (1.6454) and was pegged back slightly as the day drew out. I believe that as Sterling has manufacturing data out tomorrow, we may see some Sterling strength against Australian Dollar shortly after. The UK has posted strong Manufacturing data over the last couple of months, and should we see a repeat, I believe GBP will move in to the 1.66 region and strengthen further in the coming weeks.
This week also has the following releases…
Westpac consumer confidence
Consumer Inflation Expectation
Full Time & Part time Employment
Should you have a transaction in mind GBP AUD or vice versa, please feel free to call on 01494 787 478.