Last week’s high: AU$1.7394
Last week’s low: AU$1.7275
Pound Volatile on UK Inflation and Sales Stats
Movement in the GBP/AUD exchange rate was primarily the result of UK data, with traders responding negatively to falling inflation and slowing retail sales.
Primary concerns were that lower consumer price pressures could reduce the odds of a Bank of England (BoE) interest rate hike this year.
The Australian Dollar, meanwhile, fluctuated in reaction to mixed jobs data. The report detailed a higher unemployment rate, but also showed that more positions were added than forecast.
AUD Outlook: Westpac Leading Index Ahead
The Pound to Australian Dollar exchange rate could rise this week if UK earnings growth accelerates on Wednesday.
As this is a quiet week for Australian economic news, general risk appetite and US news are more likely to impact demand for the Australian Dollar.
The only Australian data to note includes Monday’s weekly consumer confidence index and Tuesday’s leading index from Westpac.
22:30 AU Weekly Consumer Confidence Index
09:30 UK Claimant Count Change in Non-Farm Payrolls
09:30 UK Unemployment Rate
09:30 UK Average Earnings
09:30 UK GDP Growth (Q4)
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