Sterling Australian Dollar exchange rates have seen a drop during the course of the week and hit their lowest level since August.
This is good news for Australian Dollar sellers and with Chinese manufacturing data coming out better than expected this morning this has seen gains for the Aussie Dollar.
Retail Sales are due out in the morning for Australia with the predictions for 0.4% month on month.
Personally, I think although the Aussie Dollar has had a good run recently vs the Pound I think the economy down under is in trouble.
This could be evidenced with tomorrow’s data release and I think we could see the AUD weaken against the Pound.
Tomorrow afternoon the US releases non-farm payroll data and any signs of growth could put pressure on the Federal Reserve bank to raise interest rates before the end of the year and again this could weaken the Aussie Dollar as global investors will likely sell off the AUD in favour of the USD.
If you have a currency transfer to make and want to save money on exchange rates compared to using your own bank then contact me directly for a free quote. Tom Holian [email protected]