GBPAUD increases due to poor Chinese economic data (Dayle Littlejohn)

A Good Start to the Week for AUDGBP

In the early hours of this morning China released their latest trade figures. Trade balance continued to slide and fell to 54.10B with exports fell to 6.8%. The Australian dollar has weakened off the back of the news and GBPAUD has risen back above 2.08.

The next data release to look out for is Consumer and Producer Price Index figures tomorrow morning (1.30am). Further to this Australia are set to release their latest set of employment numbers Thursday morning. The consensus is for unemployment to rise by 0.1% which could have a negative impact on AUD exchange rates.

If we do see a rise in unemployment I wouldn’t be surprised to see GBPAUD break through 2.10 by the end of the week.

If you have an upcoming currency transfer and want further information in regards to a currency pair (AUD/USD, AUD/EUR, etc) then feel free to email me with the currency pair and your individual requirement (buying a property abroad, paying a company invoice) and I will personally respond to you with a forecast and the buying process. drl@currencies.co.uk Dayle Littlejohn. Alternatively call 0044 1494 787 478 and ask the reception team to be put through to Dayle Littlejohn.