Next week there is a big range of Australian economic data due out which easily has the propensity to move the currency exchange rate. It is impossible to say exactly what is going to happen but we strive to ensure our readers are well informed to capitalise on any improvements or deterioration in the exchange rates. The overall picture remains very favourable for those buying AUD with the pound since the UK economy is doing well and this is keeping the rates very high based on where we were last year.
Next week is as I say a very important week with a range of mediocre data releases kicking things off before the all important Reserve Bank of Australia (RBA) Interest Rate decision. We would not expect any major movements on the interest rate decision itself but would expect perhaps some new information in the statement released at the same time. More often than not it is these decisions which set the pace on the Aussie so anyone with an upcoming or pending currency requirement would do well to take note.
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