Buying Australian Dollar rates, as with most of Sterling’s major currency pairings, will face heavy risk next week of potential falls.
The Pound has recovered marginally against most of its currency pairings since the flash crash 13 days ago. With most of the major political announcements expected over the next few months concerning the Brexit having already been released, markets are beginning to re-focus back towards the economic side what makes the currency markets tick.
Given that the main piece of political news this weekend was that there was a row over which language the negotiations over Britains exit from the EU will take place, it’s unlikely we can expect much news of substance in the short-term. This inconsequential, pedantic news wont be affecting anyones plans to buy or sell currency anytime soon.
In normal times, economic performance information for each country normally takes centre stage when governing the value of each currency. With the positive or negative natures of the news normally mirroring a parallel movement in the currency’s value.
The key data sets to watch out for next week for Australian Dollar buyers are:
On Wednesday inflation data for the Australian economy will be released overnight, and is set to show a healthy improvement compared to the concerns a few months ago. A positive result will suggest that the Australian economy is continuing to perform well and will continue to quieten calls for a further interest rate cut. A stronger and more expensive AUD is the natural result should this occur as expected.
On Thursday, the most important data release the UK has seen arguably since the leave vote will be released. Growth figures for quarter three of this year. This is the first full quarter since the Referendum vote, and as such, will be the first opportunity for the UK to gauge how close we are to a recession in its aftermath.
Currently expectations are that we will stave off recession, but growth this quarter will be more than halved down to 0.3%. Should this figure come in any lower, then frankly the Pound could see similar tumbles to the flash crash a couple of weeks before.
Seemingly without any opportunity for the Pound to improve this week, and with plenty of downside risk. Anyone with an Australian Dollar buying requirement in the short term may be wise to consider moving sooner rather than later to avoid facing some painful buying rates towards the end of this month.
You can contact me directly over the weekend whilst markets are closed on [email protected] to discuss a strategy for your transfer to safeguard it from any potential downswings and to maximise your currency return from this current marketplace.
I have never had an issue beating the rates of exchange on offer elsewhere, and these current levels can be fixed in place -essentially pre-booking your currency- for a future transfer.
Australian Dollar sellers can also get in contact with me to discuss how to make the most of the expected movements in your favour within the timeframe you have to complete your transfer. A brief conversation could save you thousands.
You can also fill out the form below and I will be in contact as soon as I am able.
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