Could the Australian Dollar benefit from the ECB’s decision on Thursday (Dayle Littlejohn)

Australian Dollar Forecast: AUD Holds Firm Against US Dollar

This Thursday Mario Draghi President of the European Central Bank is to give his opinion on the state of the European economy. A topic on the agenda, will no doubt be the Quantitative Easing program that started back in March 2015.

Inflation has dropped over the last 2 months, therefore economists are predicting Mr Draghi could increase the money supply entering into the Eurozone each month.

If this is the case Eurozone investors will be forced to sell off their Euro positions and invest in other currencies, which will pay higher returns on their investments. Safe havens such as the US dollar and Swiss Franc will benefit however I wouldn’t be surprised to see currencies with high interest rates such as the Australian Dollar benefit also.

Regardless of the European Central Banks decision, I still stand by my previous predictions that GBPAUD could have a sustained period in the 1.80s, as long as the Chinese stock market does not crash like we have seen in previous months.

If you are buying or selling Australian Dollars I would recommend getting in touch to put a strategy in place, which will maximise your returns. In order to protect you against market fluctuations we have different contract options available that will meet your needs and requirements.

In addition if you have a currency transfer that is immanent and you want to save money on exchange rates compared to using your own bank or the brokerage you already use then contact me directly for a free quote. Dayle Littlejohn drl@currencies.co.uk. Alternatively if you would prefer to call me +0044(0)1494 787 478 and ask for Dayle Littlejohn.