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Anthony from Moneycorp

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About Anthony from Moneycorp

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    Foreign Exchange Expert
  1. Anthony from Moneycorp

    The Pound vs Australian dollar

    The GBP/AUD exchange rate has today hit close to 1.81, the highest level since 1st January. The Australian economy has it’s own concerns. The ongoing trade war between China and the US is having a knock on effect on the Australian Dollar due to Australia’s heavy reliance on China purchasing it’s goods and services.
  2. Anthony from Moneycorp

    The Pound vs Australian dollar

    Pound Sterling is trading marginally softer against the Australian Dollar at the start of the new week with the GBP/AUD exchange rate quoted at 1.7937, having opened at 1.7959. The Australian Dollar is bid thanks to Chinese GDP data that met expectation after the world's second largest economy and Australia's number-one export destination reported growth of 6.4% year-on-year. However, gains were tempered by some disappointing domestic data after the HIA New Home Sales showed a month-on-month decline in prices of 6.7% in December. The data will keep alive concerns for the trajectory of Australia's housing market which remains the pre-eminent domestic headwind for the Aussie Dollar. The technical picture for GBP/AUD meanwhile remains neutral given the mixed signals the charts are giving on different timeframes.
  3. Anthony from Moneycorp

    The Pound vs Australian dollar

    The Pound-to-Australian-Dollar exchange rate has remained slightly elevated from the spot open of $1.78 on Sunday, quoted at $1.7883 at the time of writing. This "tentative" advance in GBP/AUD comes despite speculation that the US and China will reach a deal, something widely tipped to see a rise in risk-sensitive currencies such as the Aussie dollar. The the AUD, among other commodity currencies, is lower following the weaker Chinese trade data which have also weighed modestly on the CNY. PREVIOUSLY: The start of last week’s session saw the Pound to Australian dollar exchange rates buoyed on currency markets, however as the week progressed, the British currency fell to a low of AU$1.76. The Australian Dollar was weighed down by the release of the AiG Performance of Manufacturing Index for December, which showed the manufacturing sector contracted from 51.3 to 49.5. The week also saw a decrease in global economic risk sentiment as the US and China engaged in trade talks that included a third, unscheduled day of discussions, enabling risk-sensitive currencies such as the ‘Aussie’ to benefit. Parliament returned from recess to continue Brexit discussions, with the debate over Theresa May’s Withdrawal Act weighing down the Pound.
  4. Anthony from Moneycorp

    The Pound vs Australian dollar

    Pound to Australian Dollar Exchange Rate Gains despite Anticipation for Tuesday Brexit Vote Despite market fears that Tuesday’s highly anticipated UK Parliament Brexit vote will fail, the Pound Sterling to Australian Dollar (GBP/AUD) exchange rate rebounded slightly when markets opened on Monday morning. Last week, Brexit uncertainties and higher risk-sentiment left GBP/AUD tumbling for most of the week. GBP/AUD opened the week at the level of 1.7875, before sliding and briefly hitting a low of 1.7620 on Friday morning. However, GBP/AUD recovered on Friday and closed the week nearer the level of 1.7788. At the time of writing GBP/AUD had recovered some of last week’s losses already and trends closer to the level of 1.7838.
  5. Anthony from Moneycorp

    The Pound vs Australian dollar

    The Australian Dollar (AUD) struck higher against the Pound (GBP) on Thursday morning as a sell-off of the US Dollar (USD) on Wednesday evening helped to bolster demand for risk-sensitive currencies. This sell-off in USD came in the wake of a raft of dovish signals from the Federal Reserve, indicating the US central bank may purse a less aggressive path for monetary policy in 2019 than previously indicated. The minutes from the Fed’s December policy meeting, releases on Wednesday evening revealed that the bank was split last month, with some members of the Federal Open Market Committee (FOMC) arguing against a rate hike. These members pointed to weak inflation readings as well as suggestions of a global slowdown as reasons for the Fed to adopt a ‘wait and see’ approach until there is greater clarity on how economic conditions are likely to develop.
  6. Anthony from Moneycorp

    The Pound vs Australian dollar

    The Australian Dollar advanced against most rivals Tuesday even after official data revealed a steep fall in the nation's trade surplus for November, and is likely to remain on its front foot over the coming weeks according to Westpac. Australia's goods trade surplus fell from a downwardly-revised $2.01 billion to $1.93 billion during November when economists had looked for a surplus of around $2.18 billion. "This was largely due to strong rises in the volatile civil aircraft component and an increase in automobiles. The latter is unlikely to continue, given the consistent falls seen in car sales. The monthly rise in export values was largely attributable to the volatile non-monetary gold segment," says Jack Chambers, an economist at Australia & New Zealand Banking Group (ANZ).
  7. Anthony from Moneycorp

    The Pound vs Australian dollar

    GBP to AUD Forecast: The pound to Australian dollar exchange rates has been very volatile as we begin 2019, rising and falling on various changing sentiments towards both the Brexit and the Trade Wars. The latest news was surrounding the US Non-Farm Payroll data from last week which showed that the US economy is performing much better than expected. This triggered a rise in the Australian dollar which as a commodity currency, will benefit in times of good news for global trade. The Aussie rose on Friday and has continued to perform well coming into this week, particularly against a weaker pound. Any good news for sterling is often short-lived with the uncertainties of Brexit hanging over the Pound.
  8. Anthony from Moneycorp

    The Pound vs Australian dollar

    GBP/AUD Exchange Rate Lower Despite Boost in UK Business Optimism The Pound Sterling Australian Dollar (GBP/AUD) exchange rate briefly spiked late last night before sliding over the course of this morning, with the currency pair currently trading at a rate of AU$1.8055. This morning the UK’s December construction PMI was released, falling to a lower-than-expected 52.8 and keeping the Pound under pressure. Despite the data showing the weakest expansion in business activity in three months, and that the rise in commercial work was its softest since May 2018, there was a boost in business optimism, as a result of hope for an infrastructure boost in 2019. Economics associate director at IHS Markit Tim Moore emphasised that ‘construction firms remained resilient as optimism for the future rose to an eight-month high.’
  9. Anthony from Moneycorp

    The Pound vs Australian dollar

    he Pound Australian Dollar (GBP/AUD) exchange rate trended higher on Thursday, following the release of some stronger-than-expected UK retail data. At the time of writing the GBP/AUD exchange rate has risen 0.3% this morning, lifting the pairing to a new one-month high. The Pound (GBP) was buoyed against many of its peers on Thursday morning as markets reacted to the release of the UK’s latest retail sales figures. According to data published by the Office for National Statistics (ONS), UK retail sales growth rebounded from -0.4% to 1.4% in November, sailing past forecasts of a more modest 0.3% expansion, thanks to Black Friday offers. At the same time the Australian Dollar (AUD) found itself on the defensive overnight on Wednesday following the release of Australia’s latest labour report. November’s data saw the Australian Bureau of Statistics (ABS) report that unemployment unexpected rose from 5% to 5.1% after a rise in the participation rate.
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