Weak Manufacturing PMI Brings Sterling Down With A Bump Versus The Aussie (Colm Gilhooly)

A Good Start to the Week for AUDGBP

UK Manufacturing PMI came out a good bit below expectations this morning and saw sterling slide against most of the majors.  The news is a reminder that the UK still has a lot to do in certain sectors of the economy as markets may have got a bit carried away with the recent GDP figures.  The service sector data comes out on Tuesday so if this is similar it could cause sterling to struggle a bit.

US jobs figures were good today and backed up the positive US GDP on Wednesday so this has given global confidence a boost (which is usually good news for the Aussie as well).

With the RBA rate decision and Aussie jobs figures both due out next week it could be a busy one for anyone looking to buy or sell Australian Dollars, and as previously mentioned I still expect GBP AUD to bounce around in the early 1.80’s so buy on the spikes and sell on the dips!

If you would like help transferring money to Australia (or back the other way), and want to get the best exchange rate, then feel free to email Colm at cmg@currencies.co.uk and I would be happy to explain how our services work.