Sterling Australian Dollar exchange rates are waiting to see what happens with tomorrow’s UK Quarterly Inflation Report due in the morning.
Governor Mark Carney will be discussing monetary policy and potential suggestions for how the BoE may move in the future following the report.
Any mention of an interest rate hike prior to the end of this year may see Sterling benefit against the Ausssie Dollar so keep a close watch out in the morning for its impact on GBPAUD exchange rates.
Also due in the morning is the release of UK unemployment data at 930am. UK unemployment figures last month saw the best release in over ten years so if the data tomorrow is 6.4% or better than expected we could see Sterling strengthen.
GBPAUD rates have been relatively stable recently moving within a close range against each other so my prediction is for quite a large amount of movement on the currency pair during tomorrow’s trading session.
Finally, the Westpac consumer confidence survey is due out overnight as well as Chinese Retail Sales so we could see quite a big move overnight.
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