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GBP/AUD Recovered from Lows on Friday

Friday’s high: AU$1.6356

Friday’s low: AU$1.6192

Australian Dollar Fluctuates

The Pound to Australian Dollar exchange rate saw wide fluctuations throughout the past week. Australia’s recent data has been too mixed to support the ‘Aussie’ and risk-sentiment has not been steady either.

Due to the volatile ‘Aussie’, the Pound was able to easily recover from its recent lows. Sterling became more appealing on Friday due to a few better-than-expected UK ecostats.

July’s UK manufacturing production report beat expectations in both yearly and monthly prints, while NIESR’s UK growth projection for Q3 came in at 0.4%.

AUD Outlook: Australian Employment Stats in Focus

The Pound to Australian Dollar exchange rate could see busy trade in the coming days, as vital UK and Australian ecostats are due this week.

Britain’s August inflation results will be published on Tuesday and the Bank of England (BoE) will hold its September policy decision on Thursday.

The Australian Dollar will mostly react to Thursday’s Australian employment results. Investors will be paying particular attention to wage growth data.

Key Events

12th September

02:30 Australian Business Confidence

09:30 UK Inflation Rate

13th September

01:30 Australian Consumer Confidence

09:30 UK Employment Report

14th September

02:20 Australian Employment Report

09:30 UK Retail Sales

12:00 Bank of England Policy Decision

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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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