A big week ahead next week for the Australian Dollar (Daniel Wright)

AUDGBP: Australian Dollar Weakens in Worst COVID-19 Day Yet

Next week we have the potential of an interest rate cut over in Australia which may lead to a drop in value for the Australian Dollar should this happen. What will also be very important is what is mentioned in the rate statement at the same time as should there be positive comments in that then the AUD weakness may be extremely short lived.

Currency markets move on speculation as well as fact so if there is a generally good sentiment for things going forward for the Australian economy then the AUD may not move too much and if the outlook isn’t great then we may easily see the Australian Dollar have a tough week.

The decision is released on Tuesday morning Australian time and for those of our readers in the U.K this will be overnight on Monday night so it is important to speak with us before close of business on Monday if you would like to put some protection in place or to secure a deal.

The Sterling to Australian Dollar rate of exchange has been hanging around the 1.75 level for a little while now and I feel that next week will be the time that it finally breaks away, the trouble is working out which way that is.

With both an interest rate decision for Australia and the U.K out next week it is extremely key that you use a currency broker that will react to the action quickly and that offers market orders.

Should you be in the process of buying a property, sending money overseas for your business or exchanging currency for any other reason then it is well worth getting in contact with me (Daniel Wright) the creator of this site directly. You can email me on [email protected] with a brief description of your requirements and a contact number and I will be more than happy to deal with you personally.