GBP AUD Presses Recent Highs on GDP, Risk Woes

GBP AUD Presses Recent Highs on GDP, Risk Woes

The GBP AUD exchange rate was 0.83% higher on Thursday after UK GDP came in close to expectations for the recent quarter. Risk assets have been hit hard this week and the Australian dollar is suffering as a consequence. The GBP to AUD trades at 1.7790 with the pair now pressing against the most recent highs near 1.7900. A move above that level will target 1.8100 in the weeks ahead. UK economy shrinks in first quarter growth but still saw growth The pound sterling outperformed the Aussie...
GBP AUD Lower on Strong Aussie Retail Sales

GBP AUD Lower on Strong Aussie Retail Sales

The GBP AUD exchange rate was -0.80% lower after another rise in Chinese inflation figures. Gains in the Australian dollar defied weaker consumer sentiment figures this week, but retail sales were better. Political tensions continue to weigh on the pound sterling with Prime Minister Boris Johnson adding to fears over the Northern Ireland protocol. The GBP to AUD trades at 1.7615 with the 1.7700 level putting a headwind on recent pound sterling gains. Inflation and interest rates have hurt consumer sentiment The Westpac-Melbourne Institute Index of Consumer...
GBP AUD Higher After Retail Sales Releases

GBP AUD Higher After Retail Sales Releases

The GBP AUD exchange rate was 0.17% despite pressure on retail sales in the UK.  The cost-of-living squeeze was taking its toll on UK households with “crushed consumer confidence,” according to the latest BRC retail monitor. However, the Chancellor helped the pound with hints of tax cuts. The GBP to AUD trades at 1.7626 with the pound sterling looking for support at the April lows near the 1.7700 level. Independents looking to upset the Australian political setup The Australian election could hand more power to independent candidates...
GBP AUD Looks for Support at the April Lows

GBP AUD Looks for Support at the April Lows

The GBP AUD exchange rate was 1.0% higher on Monday as the pound sterling and Aussie dollar wait for retail sales updates from both economies. The GBP to AUD trades at 1.7626 with the pound sterling looking for support at the April lows near the 1.7700 level. Brexit Could see the UK become a “clear European leader” Brexit could boost the UK economy now that it has left the EU, with one forecast touting Britain as a "clear European leader". Eurozone growth slowed in the first quarter of...
GBP AUD Looks to Recover from Latest Headwind

GBP AUD Looks to Recover from Latest Headwind

The GBP AUD exchange rate was lower last week after the Bank of England (BoE) raised interest rates and offered a gloomy assessment of the UK economy moving forward. Australian retail sales will be released ahead of Tuesday’s session, while the UK will also get retail feedback from the BRC. Westpac consumer confidence is also released on Tuesday for Australia. The GBP to AUD traded near the recent April lows of 1.7175 and opens the week at 1.7438. Aussie leaders clash again in heated election debate The...
GBP AUD Tests April Lows After BoE Rate Hike

GBP AUD Tests April Lows After BoE Rate Hike

The GBP AUD exchange rate was sharply lower by -0.75% as the Bank of England (BoE) raised interest rates to 1%. That was expected by many analysts, but the warning of 10% inflation and steeper energy bills put a dent in the growth outlook for the UK. The UK is now set to go into reverse in the fourth quarter of the year and be negative for 2023. The GBP to AUD traded at the April lows of 1.7175 and sterling is looking weaker as...
GBP AUD Dips Again Ahead of BoE Rate Decision

GBP AUD Dips Again Ahead of BoE Rate Decision

The GBP AUD exchange rate was -0.33% lower as the Aussie dollar gained further from the RBA’s higher-than-expected interest rate hike. The hawkish move surprised markets and hinted at more to come from the bank. In the UK, the housing market remains supported. The GBP to AUD traded at 1.17550 with supports heading down to 1.7200. Australian central bank got the rate hike ‘right’ George Washington University’s Assistant Professor of Economics Steven Hamilton said he doesn’t think there was “any doubt” that the Reserve Bank was going...
GBP AUD Drops After Surprise RBA Rate Hike

GBP AUD Drops After Surprise RBA Rate Hike

The GBP AUD exchange rate was sharply lower after the Reserve Bank raised rates higher than expected in their May meeting. The expectation was for a hike to 0.25%, but many thought they would wait until after the upcoming election before taking action. The GBP to AUD touched the 1.17648 figure ahead of the RBA decision. Australian central bank shocks markets with hawkish turn Australia’s central bank shocked markets with a bigger-than-expected hike of interest rates in the middle of an election campaign. Having abandoned patient rhetoric two...
GBP AUD Looks for a Push Higher from RBA

GBP AUD Looks for a Push Higher from RBA

The GBP AUD exchange rate was looking for another push as the pair awaits an RBA interest rate decision. The RBA has been urged to drop politics and raise rates during the election campaign, rather than after it, but may disappoint the hawks. Manufacturing data was strong down under as the country bucks the worst of the Ukraine war. Attention now turns to the interest rate outlook which will be clearer for the pair after the RBA update. The GBP to AUD touched the 1.1800...
GBP AUD Lower with Inflation at 20-Year High

GBP AUD Lower with Inflation at 20-Year High

The GBP AUD exchange rate was -0.36% lower on Wednesday after the release of Australian inflation figures. The latest data saw the inflation rate soaring to a 20-yr high of 5.1% and will stoke the fire of RBA rate hike expectations. The GBP to AUD was trading at 1.7570 with the pound sterling on the back foot again. Australian inflation soars to 5.1% on fuel and home building costs Headline inflation surged to 5.1 per cent in the first three months of the year in Australia, the...