The Australian Dollar will probably continue to be volatile this week meaning timing a trade could make a significant difference on the amount that you secure. This week my view is that the trend will stay with people selling AUD, for people looking to buy the dollar I think things will get more expensive.
markets this morning are AUD strong following the election of a new government over the weekend. The certainty of having a government in place gives the dollar some strength. This week we have a number of key reports coming from China who is Australians biggest export destination. This China data is expected to be good which is why many believe the Australian Dollar will continue to become more expensive to buy. On Wednesday the UK Unemployment Figures could be the only potential upset, these are expected to be good which may give GBPAUD traders some relief.
The other story hanging over the fate of the AUD is any military operations in Syria. The vote takes place in the US this week which could change the fate of millions in the region. China have also sent a battleship to the region along with over 1000 marines, so all the powerhouses are in play. Any moves towards military operations will have an impact on global risk appetite meaning people will probably sell the AUD and move their assets to safe havens like the USD and CHF.
Looking at the above you can see how much data is due this week and as a result how valuable it will be to keep your broker up to date on your progress. We have a number of tools available here to help you get the best price including SPIKE NOTIFICATIONS, RATE ALERTS, FORWARD CONTRACTS, and LIMIT ORDERS. For any more information and our live prices please feel free to get in contact via email [email protected]