In the early hours of this morning it was no surprise the Reserve Bank of Australia decided to keep Interest Rates on hold at 1.75%. At the last meet, the RBA cut interest rates by 0.25% to 1.75% which significantly weakened the Australian Dollar.
For the remainder of the week there is two Chinese data releases to look out for. Trade figures are released early tomorrow morning and Producer Price Index numbers are released Thursday morning.
For people that are reading this website for the first time in order to get an understanding of future trends for the Australian Dollar, its important to understand the Australian economy heavily relies on China. When China releases poor data the Australia Dollar tends to lose value where as strong Chinese data improves the value of the Dollar.
As for GBPAUD I expect exchange rates to continue to fall for the next 2 weeks in the run up to the EU referendum.
If you are buying or selling Australian Dollars in the foreseeable future I can help. The company I work for enables me to achieve clients up to 5% better exchange rates than high street banks and other brokerages.
I specialise in the property market, therefore if you are buying or selling a property this year and want to save money by achieving the best possible exchange rates but also want help in timing your transfer, get in touch by emailing me on [email protected].
** If you are already using a brokerage and quite want to compare exchange rates, email me with the amounts and the reference QUOTE and I will respond with our live buy price **