Australian dollar exchange rates are becoming increasingly more volatile and difficult to forecast. Following the dramatic losses the dollar experienced falling in excess of 20 cents in an 8 week period, we have then seen a recovery of just shy of 4% bringing GBP/AUD levels back down from 1.68 to 1.62 in a little over a week. This volatility appears to be continuing with the dollar weakening by just shy of 1% today against the pound and 0.7% against the Euro. As we head into the second part of the week I have outlined below the data sets to look out for should you have an interest in the Aussie.
– FED FOMC 19:00 BST – Federal Open Market Committee minutes from the FED’s meeting earlier this month. Will give further clues as to future policies for the FED and in particular the ‘tapering’ down of QE. This could have in impact on risk apetite and hence the value of the Aussie could take a hit.
– Unemployment rate 02:30 BST – expected to show a slight drop from 5.5% to 5.6% which would fall in line with some of the weaker data of late from Australia. Any deviation and expect further volatility tomorrow morning.
Should you have an upcoming exchange to arrange and you would like to run through the market in more detail then please contact the office on 01494 787478 or email [email protected]
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