GBPAUD rates have remained in a very tight range during today’s trading session following the release of Australian unemployment data that came out first thing this morning.
It appears that the lack of movement for GBPAUD exchange rates is that the data due out for tomorrow in the form of Eurozone inflation data could have a big impact on Sterling.
Although UK inflation is now below 0% the inflation levels for the Eurozone if worse than the expected -0.1% could help to strengthen the Pound across all major currencies.
Next Tuesday’s RBA minutes could affect the AUD in a negative way as my suspicion is that the RBA will cut interest rates at some stage in the near future and the minutes could reflect this opinion.
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