This morning the Pound has dropped over a cent against the Australian dollar due to poor UK public net borrowing numbers. Net Borrowing numbers are released by the National Statistics and the figure shows the amount of new debt held by the UK.
The previous figure was £6.748B and the consensus was a rise to £11B. However the deficit increased further than first thought and rose to £13.55B. The next data release which will impact GBPAUD exchange rates is UK GDP figures tomorrow morning.
There is an argument to suggest retail sales numbers in December were positive which could lead to positive GDP figures. However on the other hand UK manufacturing and Industrial figures have slowed which could have a negative impact on GDP.
Trading on the back of this data release in my opinion as a complete gamble!
If you are buying or selling AUD this week we have different contract options available to you which will protect you from market fluctuations. Therefore 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. Dayle Littlejohn [email protected].
If you want further information in regards to a specific currency pair that I have not covered (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. [email protected] Dayle Littlejohn. Alternatively call 0044 1494 787 478 and ask the reception team to be put through to Dayle Littlejohn.