As England and Australia prepare to go head to head in The Ashes, GBP AUS pairing is currently weighted in favour of the Aussie Dollar.
I believe that there is a strong chance that tomorrows employment data (listed below) could be poor, and therefore provide a good buying opportunity closer to the 1.64 mark.
Should you be selling AUD, it may be wise to move sooner rather than later. The next Reserve Bank of Australia meet is at the beginning of August, and there is strong speculation that a further interest rate cut is on the cards. I believe that should this situation occur then we may hit a ‘resistance mark’ of 1.70.
Tomorrows key data for the remainder of the week…
Employment Change (Full Time & Part time Employment)
Should you have an exchange in mind GBP AUD or vice versa, please feel free to call on 01494 787 478.