GBPAUD rates continue to show improvements for the AUD holders. Sterling seems to have continued to slide as data continues to simply be ok. Traditionally this would not be the case but following the last few weeks of positive data for the Pound most future forecasts have been priced into the market. This results in anything other than fantastic data from the UK makes the pound less expensive, simply data missing expectations that are priced into the market. It is making it a difficult market to predict with swings and spikes present on almost a daily case. Daily movement is now upwards of a cent and weekly movement closer to 3 cents. Meaning timing a trade remains important in getting the best price.
The next few days are expected to be the same with key Australian data due overnight including interest rate decisions. UK data on Wednesday and then the Bank of England release their interest rate decision for August on Thursday. Generally I expect AUD sellers to get the best price probably tomorrow with a slight Pound recovery on Wednesday. If you would like more information on what to expect and how to maximise the market feel free to get in contact for an informal chat about your options. If you are a regular reader and are yet to get in contact please feel free to do so. Along with these daily updates we are keeping clients aware of opportunities with SPIKE NOTIFICATION emails.
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