Chinese Data set to influence the Australian Dollar exchange rate (Tom Holian)

AUDGBP Drops as Aussie Borders Close Until 2022

Sterling Australian Dollar exchange rates had a varied week with rates moving within a 3 cent range following the US GDP figures and Eurozone inflation which impacted the currency markets.

On early Monday morning Chinese manufacturing PMI data is out and the expectations are for 50.2 so anything lower could see the AUD weakening against Sterling. Indeed, any score below 50 represents lack of growth.

Tuesday sees the release of Australian Retail Sales closely followed by the RBA’s interest rate decision. With the RBA having announced an end to their interest rate cutting back in February I think we will see no change. Particularly as the US and UK have put an interest rate hike back into late 2015 it would not make sense for the RBA to change the status quo.

Australian unemployment data is due on Thursday which will likely have an effect on GBPAUD exchange rates. Expectation is for 21,600 new jobs so anything worse could lead to Australian Dollar weakness.

If you have a currency transfer and want to save money on exchange rates compared to using your bank then contact me directly for a free quote. Tom Holian [email protected]