Australian Unemployment Figures Due Tomorrow (Tom Holian)

AUDGBP Bounces as Australia Deals with Floods

Sterling Australian Dollar exchange rates have been moving between 1.80-1.8150 during this week and it seems as if the market is indecisive as to which way it will move.

Tomorrow we have the announcement of unemployment data for Australia which will be key for the  economy in the short term. With the Reserve Bank of New Zealand increasing their own interest rate recently this may put pressure on the RBA to do something in the future if the economy picks up down under.

The expectation is for 6% which is lower than the UK currently at 6.5% and this has encouraged global investors to keep their funds in Australian Dollars which has kept the currency strong over the last few months.

The Bank of England is due to meet tomorrow afternoon and all eyes will be on the vote as to how many members may be in a favour of a rate change. If the figures are anything different from 9-0 we could see Sterling pick up in the run up to the decision which is announced at 12pm tomorrow.

Friday is also a big day for the Aussie Dollar as we will see Chinese data in the form of exports. The expectation is for 7.2% so any different could cause volatility for GBPAUD exchange rates.

If you have a currency transfer to make and want to save money on exchange rates compared to using your bank then contact me directly for a free quote and further information. Tom Holian [email protected]