RBA Monetary Policy Statement & Retail Sales (Daniel Johnson)

Australian Dollar to Pound Rate Continues to Remain in Monthly Range

At 00.30am we will see the release of Australian Retail Sales figures, I think there may be slight improvement but not enough fo GBP/AUD to breach 2.00 and stay below. The 2.00 figure is extremely attractive to AUD sellers and we usually see a mass sell off if we move into the 1.99s. This causes GBP strengthen and we then move above 2.00 again. The 2.00 mark is definitely proving a hard resistance level to break.

We also have the Reserve Bank of Australia’s Monetary Policy statement following on from Retail Sales. The Monetary Policy statement reviews economic and financial conditions and determines the appropriate stance for policy moving forward. It is a clear indication as to interest rate policy.

A drop in Aussie interest rates seems to be the only chance for significant Sterling rally.

If you would like a more in detail forecast for your individual currency requirement, taking into account time scale and edging. I will be happy to assit. Please do not hesitate to get in touch. I can guarantee to beat any competitors rate of exchange. You can contact me at dcj@currencies.co.uk .