Australian Interest Rates – AUD
It was confirmed early this morning that Australian interest rates were kept on hold again at 2.5% however the Reserve Bank of Australia (RBA) Governor Glenn Stevens commented that the AUD was “uncomfortably high” highlighting that there is an outside possibility in the future the RBA will cut interest rates in order to weaken the Australian Dollar. As a result for those clients looking to sell AUD there may now be only limited opportunities before the RBA intervene, while Australian buyers may be interested to watch the reaction to this mornings comments over the coming days.
So, if you need to buy or sell Australian Dollars speak to one of our experienced currency brokers today who will be more than happy to keep you informed of all the latest currency news and discuss the different options available to you. Call us for free on 0800 328 5884.
UK Gross Domestic Product (GDP) Tomorrow – GBP
Tomorrow at 3pm we have a key economic data release due in the form of GDP. This is the National Institute for Economic and Social Research (NIESR) rolling 3 month estimate which currently stands at 0.8% and any increase in this figure could result in Sterling strength as the prospect of strong economic growth would back up the recent plethora of positive UK economic data. With the UK having gone through some very testing times the Pound has been very volatile and so should UK GDP continue to improve we may see Sterling strengthen against the major currencies.
So, if you would like to be kept informed of tomorrows GDP release and the impact it has on Sterling call us on 0044 1494 725353 or alternatively email me directly on firstname.lastname@example.org