Quiet week to end the month as focus heads towards next Tuesday’s RBA interest meeting and statement (Mike Vaughan)

Australian Dollar to Pound Forecast: Risk Sensitive AUD Likely to Remain Under Pressure

As we head towards the end of the month data sets tend to get relatively thin and this week is no different with the major data of note being new home sales figures overnight tonight. Looking at UK data we have GFK consumer confidence figures scheduled for midnight tomorrow. These are expected to show a slight increase and could lend a boost to the pound come Friday morning.

For anyone looking at this pair over the course of the next week and the major data to look out for will be the RBA interest meeting and accompanying statement on Tuesday June 3rd –  this will be followed by UK PMI construction figures. The interest rate meeting will be the main focus, mainly to see what stance and monetary policy the RBA and governor Glenn Stevens may have in store. Recently the stance from the RBA has been somewhat confusing giving mixed indications as to whether they are comfortable with the current value of the Aussie or not.

To get further information on the currency service we provide or to get a live quote for your next transaction please email me with an overview of your requirement and I will happily come back with further insight into my views on the market and the contract that may suit your needs best. Email Mike on mgv@currencies.co.uk