The Brexit vote has caused Sterling to drop substantially against the Aussie. 2.00 now seems like a distant memory. We have seen a minor pound recovery of late with GBP/AUD currently sat in the mid 1.74s, some of the best levels in the last month. Yesterday saw UK mortgage approvals and consumer credit come in below par and I feel as post-brexit data begins to filter through we will see a decline in Sterling. Thursday will see the release of UK manufacturing PMI and Friday is construction PMI. It may be too soon to see the true damage caused by a Brexit vote in this data so I don’t think there will be any significant movement on GBP/AUD.
On the Aussie side we have Retail Sales coming in during the early hours of tomorrow, it is a key indicator as to the health of economy and there is expected to be a rise so expect some Australian Dollar Strength. If you are an Aussie buyer it may be wise to take advantage of current levels.
if you have a currency requirement it is crucial to be in touch with an experienced broker. The timing of your trade is vital during such a volatile times, If you have a broker by your side he can keep you up to date with any movements in the market to help you make an informed decision. If you would like me to assist with your trade I will be happy to help. If you let me know the currency pair you are trading, volume and time scale and I will provide a free individual trading strategy. I work for one of the top brokerages in the country and by doing so I am in a position to beat nearly every competitors rate of exchange. You would be looking at around a 3-4% saving in comparison to high street banks. Please do get in touch by contacting me at [email protected]. Another method is by filling in the the form below, once received I will try and get back to you within thirty minutes. Thank you for reading my blog and I look forward to being of assistance.
[contact-form to=’[email protected]’ subject=’Australian Dollar Forecast 31st Aug’][contact-field label=’Name’ type=’name’ required=’1’/][contact-field label=’Email’ type=’email’ required=’1’/][contact-field label=’Contact Number’ type=’text’ required=’1’/][contact-field label=’Comment’ type=’text’ required=’1’/][/contact-form]