Aussie Gains Versus Euro After Rate Cut (Colm Gilhooly)

AUDGBP Tests 0.5600 Once More as BoE Cuts QE

Stronger than expected Aussie GDP data earlier in the week has helped push the AUD up noticeably against the pound and the Euro, and has even made headway versus the US Dollar again.  With little UK data out, trading on Friday will likely be dominated by US non farm payroll data, and the continued fallout of the ECB decision to cut interest rates to a record low.

If US jobs are stronger than expected we will likely see movement based on markets pricing in a change of tome by the US Federal Reserve.  The RBA made it clear they are sticking to their guns on interest rates, and UK rates are still a long way off changing, so as previously mentioned I think the rate will yo-yo based on positive data coming out either here or Down Under.  However I cant see things moving too far from the 1.80 pivot.

I can see the Aussie making further gains versus the Euro which looks to be on a weakening trend.  Therefore if you are transferring Euro to Aussie Dollars I would be cutting losses after today’s decision.  If you would like help making a transfer and getting the best exchange rate then email Colm at [email protected] and I would be happy to help.