GBPAUD rates remain volatile after yesterday action in Europe and the UK. Eyes are now on what the reactions will be as it is traded globally. The impacts on both the value of the Pound with its close ties to the Europeans and how the Europeans cutting interest rates will impact the risk appetite of trades and therefore their demand for the AUD.
Yesterday again went to highlight how important timing a trade can be as levels swung by over 1% within 30 minutes and evaporated within 2 hours. Giving clients that were quick moving a very healthy gain.
This afternoon eyes will be on the US with what many call the most powerful economic event of the month. This is the US non farm payroll. It is liked to the growth prospects and future borrowing costs of the world largest economy, the US and therefore has a large impact on demand the AUD. People looking at trading may want to move before this release and get in contact shortly.
Next week watch out for China Trade figures, Aud home loans + Business confidence figures and UK Industrial + Productivity figures. All could impact levels.
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