Wednesday sees the release of GDP figures in Australia with expectations of a fairly good jump in month on month figures and a slight improvement in year on year levels.
GDP (Gross Domestic Product) figures essentially measure the growth of an economy over a specific period of time, and should these figures come out as positive like they are expected to then we may see another bout of Australian Dollar strength overnight.
It does appear that the Australian economy is heading in the right direction once again following a fairly average run of form, and with Australian interest rates still remaining extremely favourable compared to many other economies within the world, the Australian Dollar is still a key candidate for carry trading.
Carry trading is where an investor borrows money from a currency with a very low interest rate and shifts it over to a currency with a much higher one, making their return on the difference. When the AUD is used a lot for carry trading it can strengthen due to the age old rule of supply and demand, so I feel the Australian Dollar will continue to remain fairly strong as long as the economic data backs it up and interest rates around the world do not change too much.
If you have Australian Dollars to either buy or indeed sell in the coming days, week and months then it is well worth having an experienced and proactive currency broker on your side, that not only offers you competitive rates of exchange but that can help you every step of the way in this challenging market too.
If you feel that you would like some assistance of this nature and you would like this kind of help then feel free to email me (Daniel Wright) directly on [email protected] and I will be more than happy to call you personally to discuss the various options available to you. You can also call our trading floor on 0044 1494 725353 (ask for Daniel Wright) we are U.K based but can help you no matter where you are in the world on sums from £5000 to multi-million Dollar transactions.