Theresa May survives confidence vote and vows to continue with Brexit – Chinese growth figures early next week

Australian Economy Likely to be Worst Hit But to Bounce Back Strongest

Sterling has remained fairly range bound against the Australian Dollar so far this week, even with all of the goings on in U.K Parliament.

Last night Prime Minister Theresa May survived a vote of no confidence by 325 to 306 which for now has held off a potential general election in the U.K.

Brexit is well and truly the number one market mover when it comes to Sterling exchange rates against all major currencies and at present anything could come out of the woodwork at any time. If you have a large currency exchange to carry out in the coming weeks or months then you need to make sure you have a close eye on the markets at all times. If you are extremely busy and do not have the time to watch rates all day, then we can do this for you.

You can set a rate alert on this site and one of our currency brokers will be in touch should your desired rate become available. If you wish to take this a step further then we have the ability to set you an official market order, so your currency is bought out automatically on your behalf should there be a spike in the market at any point 24 hours a day.

View on Brexit – What happens next?

My view remains the same at present, I feel that there is now very little chance that an acceptable Brexit deal will be negotiated in the coming weeks and also that leaving with no deal has a very slim chance of happening.

With this in mind, it would not surprise me to see article 50 delayed, which would give the Government more time to try and negotiate a better deal. Should this happen the Pound may receive a boost in value, and this would also open the door for Brexit potentially not happening at all in the long run. The reason Sterling exchange rates dropped drastically in 2016 was due to the original referendum result so if there is a sniff of this happening then the Pound may surge.

Chinese growth figures – Sunday night

We must not forget that economic data will still have an impact on the markets, and key Chinese growth figures are due out at 2:00am on Sunday night, so the markets will have experienced volatility before we arrive on the trading floor on Monday morning.

Chinese data is key to the performance of the Australian Dollar, and expectations are for a slight drop off in growth for China, so the Australian Dollar may weaken off a little to start of the trading week if these expectations are correct.

Currency exchange – Make sure you get the most for your money

If you have the need to buy or sell Pounds or Australian Dollars then you need to ensure you get both the very best rate of exchange but just as importantly the highest level of customer service.

I have personally been a currency broker for over 11 years now and have helped thousands of clients move money internationally. If you would like to compare the rate of your current broker or your bank, or to have a brief no obligation chat about the services we offer then feel free to fill in the form below and we will be in touch by phone or email to help tailor a plan for your specific situation. In this current climate every penny counts, so for the sake of taking 2 minutes to get in touch it could have you hundreds if not thousands of pounds, we look forward to speaking with you.