The AUD rate of exchange has remained strong today on what has been a rather quiet day across the currency market. Personally I expect this to be the calm before the storm as we have a host of data due within the next 24 hours. This includes key data from the UK, Australia and the US and all of which could and probably will have an impact on the cost of sending money internationally. My personal view is that rates will get better for AUD buyers however there are no guarantees.
Data published within the next 24 hours includes:
EUR Speech by the head of the European Central Bank
AUD New motor Sales
GBP Consumer Price index
GBP Production Price Index
GBP Retail Price Index
USD Retail Price Index
NZD Consumer Price Index
We grade economic releases 1 to 3, 3 being the most powerful and 1 being the least on the price of currency. Each of the above are over 2 with some 3’s making this a key day for the remainder of the week. Potentially GBPAUD rates could hit the top of the range expected for the next 14 days.
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