The Australian dollar has been clawing back some of the losses seen late 2016 against the US dollar and Sterling this week. Australian economic data has been limited however the US meeting minutes showed the central bank are concerned about the the potential changes in policy when President-Elect Donald Trump enters the White House.
It seems that speculators have sold off US dollars and flocked to the Australian dollar as interest rates in Australian remain high at 1.5%.
Economic data is thin for the Australian dollar next week however the key economic release to keep your eyes on is Retail Sales numbers released in the early hours of Tuesday morning.
Another reason for the fall in GBPAUD exchange rates comes from the upcoming Supreme Court decision. Jitters are running through the UK in anticipation the Supreme Court could overturn the High Court and therefore an exit from the single market could materialise as early as March this year.
If an overturn occurs I wouldn’t be surprised to see GBPAUD fall back to levels we become accustom to in October. However my personal opinion is that the Supreme Court will confirm UK Prime Minister Theresa May needs Parliamentary approval before she invokes Article50.
If you are buying or selling Australian dollar in the upcoming weeks, months or years feel free to email me with the reason for your conversion (company invoice, buying a property) and the timescales you are working to and I will email you with my forecast and the process of using our company [email protected].
** If you are already using a brokerage and would like to know if you are receiving the best rates possible email me with the exact figures and I will reply with our live price. This will take you minutes and in the past I have saved clients thousands! **