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GBP/AUD Fluctuates on Mixed Data

Last week’s high: AU$1.7801

Last week’s low: AU$1.7579

Sterling Rocked by Lacklustre Retail Sales

The Pound against the Australian Dollar was hit by volatility last week following some mixed domestic data.

While Sterling was able to find some fleeting gains from a stronger-than-expected inflation report, GBP fell on Friday as the UK’s retail sales missed expectations.

Meanwhile the ‘Aussie’ suffered from its own mixed batch of data last week, with Thursday’s uninspiring employment figures pressuring the currency.

Nevertheless AUD was still able to find some underlying support from a fall in the US Dollar, as it prompted markets to flock to high-yield currencies.

AUD Outlook: AUD Investors Await Wage Data

Looking ahead to the coming week the GBP/AUD exchange rate may fall on Wednesday with the publication of Australia’s latest wage price index.

Economists forecast that wage growth will have risen from 0.5% to 0.7% in the fourth quarter, something that may keep the hope alive for a rate hike later in the year.

Meanwhile the UK will release its own wage figures this week alongside the latest domestic employment figures, with sterling likely to climb if average earnings prove to have edged higher in December.

Key Events

20th February

12:30 AU RBA Minutes

11:00 UK CBI Industrial Trends Feb

21st February

00:30 AU Wage Price Index

22nd February

09:30 UK CBI GDP Q4

11:00 UK CBI Distributive Trends Feb


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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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