Chinese economic data causing global distortion (Joshua Privett)

AUDGBP Looks for a Low with PMI Data Ahead

Worsening news and data coming out of China has sparked a mass sell off of shares on the global stock-markets at the start of trading this morning. Last week the AUD lost significant value for this reason, alongside other commodity based currencies.

The mass sell off of shares has also hurt financial centres such as London, so luckily those looking to sell AUD for Sterling have only lost a Cent or so, much less than the overall devaluation of the Australian Dollar, now that global growth forecasts have been revised downwards for a longer period than previously expected.

Those with AUD to buy have just seen fresh 7 year highs to purchase on the markets, and I would be inclined to take advantage of this movement, as GBP/AUD has already corrected this morning from 2.17 to 2.15 in the space of 30 minutes.

Call me on 01494 787 478 and ask for Joshua for a free quote on your transfer. Alternatively email me on [email protected] for tailored advise on your situation, particularly if you have Dollars to sell in the next few months.