Australian Dollar holds at pivotal point of 1.70 (Daniel Wright)

Australian Dollar Forecast – Unemployment Weighs on Sentiment

The Australian Dollar has had another fairly solid week against the Pound, and as I write this the GBP/AUD exchange rate remains stable.

We have not had a huge amount of economic data for either Australia or the U.K this week and looking at next weeks economic calender we may have a similar situation next week.

This is where market sentiment and attitude to risk can come into play which can sometimes make the market a little unpredictable. I have helped lots of clients bring back Australian Dollars recently as rates have hit multi year highs.

The Australian Dollar is notably strong as it stands due to a better yield from interest rates which the RBA as struggling to work out how best to play. House prices in Australia are going through the roof which is stopping the ability of the RBA to go too big on cutting interest rates as this will make money cheaper to borrow and merely fuel the fire of the housing price problem.

I personally feel that the issue with Chinese stocks and banks has far from gone away so there is room for Australian Dollar weakness at any time that we need to be aware of.

If you have Australian Dollars to buy or sell then it is well worth having an experienced broker on your side. I have been helping clients for 10 years and the company I work for has been in operation for 17. We have access to extremely competitive exchange rates and pride ourselves on keeping clients fully up to date with market movements. If you would like me to assist you with any pending transfer then feel free to contact me (Daniel Wright) on [email protected] and I will be more than happy to contact you personally.