With limited data releases today GBPAUD has fluctuated under half a cent. Of late GBPAUD has been fluctuating anywhere between 2-4 cents a day and I expect we could see a volatile trading day tomorrow.
Governor of the Bank of England Mark Carney is set to give his latest speech in regard to the state of the UK economy. If he continues to take a doveish tone we could see GBPAUD drop back towards 2.Later in the week the UK release their latest revised Q4 GDP numbers. The prediction is for a slight rise therefore we could see sterling make back some of the potential losses.
As for Australian economic data releases its fairly quite this week. The next major announcement to look out for is the RBA’s Interest rates decision next Tuesday. I expect the RBA will continue to keep interest rates at 2.0% therefore next week I we could see AUD strengthen against the pound.
If you are buying or selling Australian Dollars this week, month or year I would recommend getting in touch to put a strategy in place to maximise your trade. In order to protect you against market fluctuations we have different contract options available that will meet your needs and requirements. 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.