GBPAUD rates have remained steady recently this week however I can see this being the calm before the storm. Generally the AUD has strengthened against the pound over the last 2 weeks however the trend has levelled off recently to around 1.78 from the 1.82 levels seen two weeks ago. This is down to a number of factors but as this current period is a quiet time with little economic data I expect these levels to hold for the next few days. The new month starting Monday will bring with it a fresh round of economic data reporting on the production levels of all the area in the economy’s on both sides of the world. This in turn will bring the volatility back to the market and with it give you the potential opportunity to get better levels.
Timing a trade remains ever important to truly get the best price so being informed makes a large difference and this is hopefully why you found this website and find it valuable.
Next week there is a host of data and the largest will probably be at the end of the week when the central banks report. The Bank of England is now unlikely to increase interest levels which were once forecasted for before Christmas. The Reserve bank of Australia continues to be a more difficult bank to follow as the governor continues to change views and forecasts for the market and therefore the value of the AUD. His last stance was one that levels did not need to change however any deviation to this will fundamentally change forecasts and therefore prices once more.
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