GBPAUD remains range bound…

AUD GBP Lower Ahead of PMI Data for the UK Economy

GBPAUD exchange rates have been range bound this week despite a huge amount of shifts and changes in market sentiments over the pound and Australian dollar. The main news was from the RBA (Reserve Bank of Australia) which has seen them remaining in a no-mans land in terms of their attitude to looking to raise or lower interest rates.

If there was to be any bias it would be towards the hiking of interest rates, this was potentially something on the cards in 2018 but actually we have seen it becoming more likely to happen in 2019. Economic condition are according to the RBA not warranting any hike, since the market was widely expecting this the Australian dollar has not reacted significantly.

The next big news will be overnight with the Chinese releasing a series of Import and Export data which will see us understanding the market much better. The Chinese data is very important for the future which will be closely monitored since China is one of the biggest markets Australia sells its raw materials into.

For more information on the upcoming news and events you can contact myself Jonathan Watson directly by emailing [email protected]. For clients concerned with GBAUD exchanges many clients are tracking the 1.80 mark which we have so far been unable to hit. I do expect this could happen, it might well be in the next couple of weeks as we get some further important UK data.

If you need to buy or sell Australian dollars against any currency please feel free to get in touch to discuss further the market and your options.

Thank you for reading and I hope to hear from you soon.