Good morning readers,
Well another day of the week just beginning or ending if you’re reading this in Australia so keep your eyes on the currency markets today if you are thinking of transferring Australian Dollars in the near future. With Sterling’s recent rise against the Australian Dollar the UK will publish both manufacturing and industrial data at 930am UK time. In October the numbers were the worst for over 6 years which caused Sterling to plummet against all major currencies costing those of you looking to buy Australian Dollars.
Expectations are for 1.8% and 0.7% so anything lower could send GBP vs AUD exchange rates down from current levels. With most UK data for the last few months rather positive this is part of the reason why Sterling has strengthened against the Aussie which has seen rates move by cents from the high to low during 2013. If the data is poor this morning this could again dent UK confidence and therefore be detrimental to the Pound.
The UK’s growth forecast has been increased by the NIESR and they have claimed that interest rates could be cut earlier than initially thought. This report earlier this week has also helped Sterling exchange rates improve marginally.
If you have a currency requirement and want to get in touch for a free quote please email me directly Tom Holian [email protected] For any transfer overs £5,000 I’m confident I can get you a better deal.