US GDP to impact on Sterling vs Australian Dollar Exchange Rates (Tom Holian)

Australian Dollar Forecast: Why is the AUDGBP Rate Falling?

Sterling Australian Dollar exchange rates have recently fallen as confidence in the Pound has dropped in recent weeks.

The Bank of England governor Mark Carney said last week that he’s worried about the value of the Pound as it has been so strong recently so we have seen Sterling fall across the board during the week.

Even with UK Retail Sales which were published this morning this did little to support Sterling.

The figures came out at 5.7% compared to 4.7% for year on year and 0.7% month on month compared to the expected 0.4%.

Tomorrow the US releases GDP and as the world’s largest economy anything that happens in America tends to have an impact on exchange rates across the globe. Therefore we expect a large amount of volatility during tomorrow afternoon’s trading session.

UK GDP data is due next Tuesday and this will likely give us big clues as to how GBPAUD rates will move during April.

If you have a currency transfer to make and want to save money on exchange rates compared to using your bank then contact me directly for a free quote. Tom Holian teh@currencies.co.uk