The Australian Dollar has gone from strength to strength recently vs the Pound as the economic and political uncertainty caused by the Brexit continues to put the Pound under pressure.
Next week there are a number of data releases that could have a big impact on GBPAUD exchange rates. The biggest day of the week will come on Wednesday when the Reserve Bank of Australia publishes Australian inflation data.
Inflation is a key factor in a central bank’s decision when it comes to moving interest rates so this could be a big influence as to what direction the RBA moves in when it comes to moving interest rates in the future.
After inflation data the UK releases second quarter GDP data. This will cover the period of the general election as well as when the Brexit talks were officially started so I think this data will be lower than the expectation of 1.7% year on year which in my opinion could lead to the Pound falling against the Australian Dollar.
We end the day with arguably one of the biggest events of the month when the US Federal Reserve publish their latest interest rate decision. The US economy has been very strong recently and typically when the US performs well this encourages global investors to increase their attitude to risk.
The value of the Australian Dollar is often improved when the data is positive in the US so we could see a very positive day for the Australian Dollar vs the Pound during Wednesday so make sure you’re prepared if you want to take advantage of the movements for GBPAUD exchange rates.
I work for one of the UK’s longest established currency brokers and I’m able to offer you bank beating exchange rates so if you would like further information or a free quote when buying or selling Australian Dollars then contact me directly and I look forward to hearing from you.
Tom Holian [email protected]