GBPAUD uncertainty remains in the build-up to the all-important FED meeting this evening. This is when the FED is expected to confirm a finish to their QE program which they started over 6 years ago. What will be very interesting will be the commentary and therefore the impact on the forecast when they may start changing their interest rate. This will have a huge impact on the market I would expect if it changes significant from the current view. Demand and therefore value of safe havens and export lead currencies will change including that of the Australian Dollar. We have already seen the dollar get more valuable in the build-up and this could be accelerated if confirmed within the next 6 hours. If you are in the market buying or selling the AUD then today could be key for the next 6 months potentially.
Recently the head of the FED has suggested that interest rate hikes will not climb as quickly as they had previously thought, putting this down to the USD strength and global economic health. I personally think that this fluffy answer will be given again this evening but any change could have a 2 cent impact on the value of the AUD within a few minutes. Are you willing to take that risk, are you willing to wake up with an additional bill on your currency transfer? Many are not and are therefore utilising the tools here to safeguard their position; this includes Limit orders, Stop loss orders, rate alerts and spike notifications.
For more information on any of the above or to talk through your situation with a personal broker please get in contact. You can deal directly with myself if you would like; email me at email@example.com and I am available to speak up until 18:00 GMT.
Look forward to being of assistance.