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    Thread: The Pound vs Australian dollar


    1. #211

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      The Reserve Bank of Australia (RBA) have cut interest rates to a record low 2%. This news was widely expected.

      This week could be a difficult one for the pound with much uncertainty over the UK Election on Thursday – for some time now, opinion polls have been showing a hung parliament is the most likely outcome.

    2. #212

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      The Australian dollar remains strong against the pound currently - the interest rate cut earlier this week was expected and the signs are there won't be any future cuts in the short/medium term in Australia.

    3. #213

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      It was a fairly busy week for the Australian dollar but not a spectacularly successful one. After covering four-cent ranges against the euro and the British pound it was, in the end, almost unchanged against both of them. The Aussie did manage to pick up one and a half US cents but only because the Greenback was the week's poorest major-currency performer.

      The handful of Australian economic statistics did not give investors much to go on. NAB's barometer of business confidence was unchanged in April, there was a rebound in mortgage lending and the wage price index rose by 2.3% in the year to March. On Tuesday the government unveiled its budget, which met with modest approval but did not move the currency.

      Next week's agenda is even more thinly-populated, with vehicle sales on Monday, consumer confidence on Wednesday and inflation expectations on Thursday. The Reserve Bank of Australia board minutes come out on Tuesday.

    4. #214

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      Exchange rate looking good today for those transferring money from the UK to Australia - GBP/AUD creeping towards $2.

    5. #215

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      It has been really good levels this week for those transferring money from the UK to Australia.

      Both of the antipodean dollars had a rough week, suffering in almost equal measure. For the Aussie it meant a loss of two and a half US cents and a two-and-a-quarter-cent loss to sterling. It was not quite a one-way-street but the downward pressure seemed fairly constant.

      The few Australian economic statistics were not a lot of help, with construction work falling in the first quarter and new home sales slowing. A sharp -4.4% quarterly fall in private sector capital expenditure was particularly damaging. The greatest cause for concern was the estimate that capital spending in 2015-16 will be 24.6% less than in 2014-15.

      Along the way the antipodeans suffered collateral damage from some punchy American ecostats which kept alive investor's belief that US interest rates will begin to head higher before the end of the year. Strong US payrolls numbers next Friday would reinforce that belief.

    6. #216

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      The interest rate decision, on Tuesday, from the RBA could have an impact on the GBP/AUD exchange rate.

      Additionally, there is other economic news coming out from Australia which could affect the Aussie dollar (GDP for the first quarter).

    7. #217

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      Poor retail sales figures have slightly weakened the Australian dollar against the pound.

    8. #218

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      Weekly review of the Aussie dollar below.

      The Aussie got off to a slow start, with no domestic economic data published last Friday and the Queen's birthday holiday on Monday.

      Tuesday's 1% monthly increase in mortgage lending had minimal impact on the currency. On Wednesday the Reserve Bank of Australia governor said in a speech that the RBA is still "open to the possibility" of further interest rate cuts. His comment sent the Australian dollar lower but not for long, because Thursday's employment figures were much better than expected: 42k people found new jobs in May and the rate of unemployment fell to 6.0%.

      With the RBA governor and the employment figures cancelling out one another the Aussie had only a mediocre week. It strengthened by half a cent against the euro and added third of a US cent but lost a cent to sterling.

    9. #219

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      GBP/AUD exchange rate at great levels today for those transferring money from the UK to Australia. News from the UK regarding inflation was positively received by the markets.

      If you are interested in transferring money and want to take advantage of the good GBP/AUD rate, visit here - http://www.pomsinadelaide.com/index.php?pageid=forex

    10. #220

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      Relatively quiet over the past day or so in relation to the exchange rate - with no data released having any impact.

     

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