GBPAUD rates hit by FED commentary (STEVE EAKINS)

AUD to GBP Moves Lower from Highs on Virus

Many will know that the AUD is impacted by the FED and the economic updates from China along with their own output.  Last night we had the latest update from the FED in the US on their economic health and in deed forecasts. The highlights were that they would not be raising interest rates again, after their history rise in December, any time soon. As a result we saw the AUD strengthen making it more expensive to buy.  This has resulted in the worst time for AUD buyers this year to date, however sellers have quite an opportunity.  If you are a AUD seller this is the best time in a long time and I don’t expect these levels ho hold around.

As a result if you want to take advantage of these current levels or discuss forecasts please call me today. Email me directly on [email protected] or I can be contacted on 01494 787 478 and ask for STEVE EAKINS

Moving forward this morning we have the latest updates form the UK economy in the form of GDP figures. These are expected to show a slight improvement however with the recent bad form in the UK I would not be too surprised if we see rates improve further for you sellers within the next 2 hours.

This will probably set the trend for the day and markets will most likely set the continual direction through this afternoons session when the US market opens.

Next week we start the next month and with it the next cycle of economic data. If you have more time to wait into February please contact me for a full update and forecast on what could impact your market position. Personally I expect GBPAUD rates to be range bound within the next 14 days between 1.99-2.06.

As a result if you want to take advantage of these current levels or discuss forecasts please call me today. Email me directly on [email protected] or I can be contacted on 01494 787 478 and ask for STEVE EAKINS