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GBP/AUD Fails to Benefit from US News

Last week’s high: AU$1.6726

Last week’s low: AU$1.6425

Australian Dollar Holds GBP Back after NFP Report

The latest US non-farm payrolls report impressed, upping the odds of the Federal Reserve hiking interest rates for a third time in 2017, but the Australian Dollar remained higher against the Pound despite a general decline in risk sentiment.

So far this week Australia’s AiG performance of construction index has impressed, rising from 56 to 60.5.

AUD Outlook: Confidence Figures Ahead

For the early part of the week Australian confidence data is likely to be the main cause of AUD exchange rate movement. The NAB business conditions and business confidence indexes for July are both set for release tomorrow. An improvement in sentiment would be AUD positive.

As China is one of Australia’s main trading partners, China’s latest trade figures could also prove influential.

Key Events

7th August

02:30 Australia NAB Business Conditions

02:30 Australia NAB Business Confidence

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To keep up to date with the Australian Dollar, visit the AUD blog in our Currency News section.

James Baxter

Senior Currency Broker
T: 01442 892 062

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