Australian Dollar has a good week against the majors (Daniel Wright)

Australian Dollar Forecast Set for Bleak End to 2020

The Australian Dollar has finished off the week up against most major currencies following a fairly solid run of economic data.

Consumer confidence figures provided the latest boost with the release coming out at a level of  98.5 compared to 94.9 that was seen previously. This also helped the Australian Dollar avoid any weakness following data from China coming out a little worse than expected.

The GBP/AUD rate of exchange finished the week off comfortably below the pivotal point of 1.80 which should be a little converning for anyone looking to purchase Australian Dollars in the near future with the Pound as they have become much more expensive to buy not only due to good data from Australia but also due to comments from Bank of England Governor Mark Carney  that he felt the strength of the Pound was starting to weigh heavilly on exports.

All eyes will now turn towards the RBA meeting minutes from their last interest rate decision which may give signs on how they plan to deal with the economy going forward and and signs of futute economic policy changes may well lead to a volatile period for the Australian Dollar. This comes out at 02:30 am GMT.

If you have a pending currency transaction to carry out involving wither buying or selling the Australian Dollar and you would like to secure an award winning exchange rate alongside exceptional customer service then feel free to contact me (Daniel Wright) directly on djw@currencies.co.uk with a brief description of what you are looking to do and I will be more than happy to get in touch personally.

I look forward to hearing from you and have a great weekend!