The Australian dollar continues its losing streak against the GBP this week. It has been a general and prolonged trend now for the GBPAUD pairing as the AUD losses nearly 6 percent over the last month. This can be put down to a number of reasons including UK strength, AUD weakness, China weakness and AUD strength. All of which are generally expected to continue so it seems likely that this trend in turn could continue putting a smile on anyone’s face that is looking to complete a GBPAUD transfer. Saying that however markets never move in a straight line and there will be better days than others for buyers and sellers meaning timing a trade remains incredibly important when going in to the currency market.
Later this week we have a host of US data which will have an impact on the GBPAUD pairing. This is due to the US being the largest economy in the world, its economic performance is seen as a barometer for global growth. So when they improve it increases the appetite for risk by traders making the AUD stronger. The key day is really Friday when we have UK unemployment data due mid-afternoon BST.
Here we offer a pro-active service helping people time their trades. Plus with access to award winning exchange rates you can feel comfortable that you will see a saving. For more information about timing your trade and getting the most out of the market feel free to contact one of the brokers here. You can contact myself directly via email at [email protected] when I can get back to you personally.
Look forward to hearing from you.