Australian Economy Set to Take a Few Years to Recover

Australian Dollar Support Emerges at Previous Resistance Levels as EU Trade Talks Begin

The AUDGBP story was mixed today as the British pound rallied through a previous resistance level but then pulled back to show a small gain for the Aussie. The GBPAUD interbank exchange rate traded higher through 1.9730, a level which forced a previous sell-off in early-February. The pound saw a high of 1.9756 before almost 100 pips to dip below 1.9670, for a small loss of 0.07% on the day. With nothing on the economic calendar today, buyers are testing the appetite of sellers at...
Australian Dollar to Pound Forecast: Why is the Australian Dollar Strengthening?

Pound Pushes Higher Against the Australian Dollar on Recent Economic Divergence

The GBP v AUD exchange rate was higher again on Tuesday as traders absorbed recent data trends in a quiet calendar week. The pound was 0.6% higher versus the Australian dollar and trading near 1.9700, whilst global stock markets tried to bounce from yesterday’s heavy selling over the coronavirus fears. Pound Strength Continues Post-Brexit and Election The strength of the British pound recently has been driven by sluggish growth prospects in Australia and an end to the Brexit confusion for business and investors. Recent manufacturing and...
Increase in Risk Appetite Helps Support the Australian Dollar

Pound Trading Higher but Markets on Alert as Fears of a Virus Pandemic Grows

The GBP v AUD exchange rate was edging higher in Monday trading as a light economic calendar left traders to continue the recent trend of pound strength after data releases in the U.K. and Australia showed some weakness down under. The pound was trading as high as 1.9650 overnight but had slipped under the 1.9500 figure. Markets are on alert on Monday after stocks plunged over fears that the Coronavirus was spreading outside of China. Currency Markets Pause After Virus Fears Spook Stocks Global stock markets were...
AUD to GBP Slower but Brexit Could Accelerate Rates Again

Pound Rallies Against the Australian Dollar After PMI Data Release

The GBP v AUD exchange rate rallied another 0.65% after PMI data from both countries told a different story. The Australian manufacturing and services indices showed a contraction again as similar data from the UK showed a strengthening economy. The data led to further gains in the British pound and saw the pair trading at 1.9600 on Friday afternoon. PMI Data Release Shows UK Strength and Aussie Weakness Australia saw the release of the CBA PMI index for the manufacturing and services sectors of the economy....
Increase in Risk Appetite Helps Support the Australian Dollar

Australian Dollar down against the Pound as Unemployment Edges Higher Down Under

In a reversal of December’s trend, Australian unemployment edged higher to 5.3% in January, whilst employment showed a small rise. The release helped the GBP v AUD exchange rate to tick higher on the day to a high just shy of 1.9500. The market has since pulled back slightly to trade 0.35% higher around the 1.9450 level. Employment Trend Goes Against RBA Desires The Reserve Bank of Australia has been vocal in recent weeks that it would only consider additional stimulus measures if the economy worsened and...
AUD Exchange Rates Fall Against USD, GBP and EUR

UK Inflation Jumps to a Six-Month High but Fails to Push the Pound Higher...

Inflation figures from the UK in January rose at the fastest pace in six months, according to the latest release from the Office for National Statistics (ONS). Despite reaching a high around 1.9450, the GBP v AUD exchange rate slipped on the day to settle near 1.9400. Consumer Prices Give Central Bankers a Boost The ONS inflation figures for January were expected to show a rise in consumer prices from last month’s 1.3%, to 1.6%. The actual number was 1.8% and will come as a welcome...
Will the Australian Dollar Continue its Trend Against GBP?

Pound Rallies Against the Australian Dollar After Strong Employment Numbers

The British pound rallied through the 1.9500 figure yesterday after strong employment numbers from the UK gave the economy another post-Brexit boost. UK Employment at a Record High The 180,000 gain in employment was stronger than the 170,000 estimate and the unemployment rate stayed at the forecast 3.8% level. The surge in jobs resulted in the highest figure on record and saw a strong rise in women in full-time work. One downside to the release was a continued stall in wage growth, slowing from 3.2% in December...
Australian Dollar to Pound Forecast: Risk Sensitive AUD Likely to Remain Under Pressure

Australian Dollar Gains Against the Pound as Chinese Stocks Roar Higher on Monday

The caution surrounding the Chinese Coronavirus issue disappeared in Monday’s trading as the Shanghai Composite index of Chinese shares moved higher by 2.3% to close back above the level of its recent mini-crash. The gains also helped the Australian stock index to a 0.24% gain as the spread of the virus did not worsen over the weekend and the People’s Bank of China (PBoC) cut the rate on medium-term lending to 10 basis points in a move to further stimulate the economy after the...
Australian Dollar Forecast: AUDGBP & AUDUSD to Keep Rising?

Pound Testing Higher Levels Against the Australian Dollar Into the Weekend

Ahead of the U.K. economic growth figures on Tuesday, we noted that the levels to watch were 1.9200 and 1.9400 in the GBP v AUD exchange rate. The pair now has a low of 1.9211 since then and following a rally yesterday, is now trading at the 1.9400 level. The support shown this week from buyers will give the Pound a chance to test higher levels if it can sustain the move. There are no significant data releases in the next few days that will...