Following the Brexit vote Sterling has plummeted in value against all major currencies. The general consensus from top economists was that the pound would continue to fall in value as UK post brexit data filtered through. It seems the British are keeping calm and carrying on as we have seen some very impressive data releases following the EU referendum. Last week saw manufacturing and construction data come in above expectations and Sterling rallied against the Aussie as a result. This was followed by Services PMI this morning coming in at better than expected 52.9 ( anything above 50 indicates growth). The pound continued to gain value and GBP/AUD now sits in the 1.75s.
Data Releases of Consequence this Week
Tomorrow (All times GMT) Australian Interest Rate decision 04.30 – (Change unlikely)
Wednesday 01.30 Australian GDP
Friday 08.30 UK Trade Balance & Consumer Expectations
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 an experienced broker on board he/she can keep you up to date with what is happening 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 inform me of the the currency pair you are trading, volume and time scale and I will provide a free trading strategy to suit your needs. I work for one of the top brokerages in the country and as such I am in a position to beat nearly every competitors rate of exchange. You would be looking at around a 4% saving in comparison to high street banks. Please do get in touch by contacting me at [email protected]. Thank you for reading my blog. The quickest method to get in touch is by filling in the form below and we will be in touch ASAP.
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