AUD standing Firm, but for how Long? (Daniel Johnson)

AUDGBP Looks for a Low with PMI Data Ahead

The RBA has stated recently they will be holding off on a rate cut. There has been of late several data releases from down under that have provided a vale of stability. I think although current interest rates will stay unchanged for the next quarter, there definitely could be some movement later next year.

There are underlying problems with the Australian economy. The inflation in house prices due to the mass influx of those trying to take advantage of the more favorable wages in Melbourne and Sydney. And also the economies heavy reliance on raw material exports to China. China’s economy is shrouded in Shadow Banking and false data figures as they try to compete to be the largest economy in the World, I think this could well have serious implications for both China’s and Australia’s economy further down the road.

If you are an AUD seller it may be wise not too hang on to long and have realistic expectations around the GBP/AUD 2.10 mark.

If you are in a position where you have to move short term and you are an AUD buyer, current buoyancy levels are between 2.13-2.15. So look to move if it breaches 2.15.

I have consistent large GBP/AUD trades going through and I will be happy to tag new clients on to the trades no matter how big or small to help them achieve a very preferable rate of exchange.  If this is of interest please do get in touch on 01494 787 478 or alternatively I can be contacted on e-mail at [email protected] .