GBPAUD rates have remained negative this week making AUD holders the only ones smiling. It has been a real change in value this last 10 days for the AUD as the value of the Pound has fallen significantly. There seems to be little “safe haven” status left in the Pound which has resulted in a majority of the fall that we have seen. Plus the Australian Dollar has taken some strength and added demand following better than expected economic data over the last 7 days.
We now enter the last full week of the month meaning there are less data releases due which is normally the largest impact on the value of currency. Saving that however there is still some data to watch out for if you are trading the GBPAUD pairing. The UK release Production Price Index on Tuesday, GDP updates on the Wednesday and Retail figures at the end of the week. Australia have both New Home Sales and Business Confident figures at the end of the week. As a result I expect rates to move in Sterling’s favour at the beginning of the week, sellers to see gains at the end of the week. So people looking at buying AUD before the end of the month may be wise to move earlier next week and AUD sellers either this week or at the end of the month.
In either situation timing your trade within each trading session is key to achieve the best price. This can be done by deploying technical tools including LIMIT ORDERS, SPIKE NOTIFICATIONS and RATE ALERTS. All of which are free tools to help maximise your trading price and secure your trade against negative movements. All of which we offer here along with a personal approach to your exposure and access to award winning exchange rates. For more information or access to live prices feel free to contact me directly, STEVE EAKINS at [email protected] or via the normal telephone number ++0044 (0) 1494 787478