The GBPAUD rates have been falling for some time now as we have seen GBPAUD rates from 2.20 all the way down to almost 2.02. Over the most recent trading sessions we have however seen the AUD weaken resulting in a multi cent movement in the right direct for AUD buyers. The moment yesterday makes almost a 2% improvement only compared to Monday. As a result if you are looking at buying AUD in the short term and want to take advantage of these recent gains please feel free to contact me ASAP for live pricing. Email myself HSE@Currencies.co.uk or call now on +0044(0)1494 787 478 and ask for myself STEVE EAKINS.
Moving forward there is plenty to ‘play for’ we have a large amount of data due from the UK this afternoon and the US, both of which could have a significant impact on the cost of buying or selling Australian Dollars. The UK GDP figures are anticipated to show a weakening in the UK economy and therefore the gains we are currently enjoying could be very short lived. Trade balance figures from the UK yesterday are the warning light really as with such a high valued Pound through the end of 2015 it makes exporting so much more difficult. This information is due at 15.00 GMT and I really do expect GBPAUD rates to fall as a result on this news.
The US news this evening could also have a long standing impact on the strength of the AUD. Currently there has been a sell off from risky investments including the AUD hence the gains we are enjoying now from yesterday into the USD. This evenings news is from the FED with the latest update from Janet Yellen, focus here will be commentary around the next potential interest rate hike in the US. Only 2 months ago it was expected there were going to be 4 hikes through 2016 but the world is very different now and many only expect maybe one at the end of the year. Janet Yellen could confirm this later, or at least suggest there will be no rate hike at their march meeting and if confirmed expect rates to change once more.
There is a lot driving these markets at the moment and we have to take opportunities when they arise. If you would like a full breakdown of the market situation and forecast, live prices or further information please feel free to contact myself STEVE EAKINS via email at firstname.lastname@example.org or call and ask for me on +0044(0)1494 787 478