GBP/AUD Weekly Currency Update - Week ending 24th July
Here’s an update on what’s been happening in the currency markets over the last week.
The Ozzie Dollar found support last week from the release of the minutes from the RBA’s MPC meeting earlier this month which painted a cautiously optimistic picture of the Australian economy.
Meanwhile, the CPI data painted a mixed picture with the headline number showing prices rising at a decade low 1.5%y/y however the core figure (+3.6%y/y) remains stubbornly above the RBA’s 2- 3% target band and this could prevent the RBA cutting rates further in the months ahead.
This week, attention turns to the NAB Quarterly Business Confidence Survey (Tues), New Home Sales (Wed) and Building Approvals (Thurs) for further signs of stabilisation in the economy.
AUD Movement – High’s & Low’s of last week (20th – 24th July)
A movement of 1.9%
Difference on £200,000
High: 407,980 AUD
Low: 400,380 AUD
Difference of: 7,600 AUD
Whilst FX certainly isn't the most thrilling of subjects, the sooner you begin to think about your money transfers, the more likely you are to make your money go further.