GBP AUD at Pivotal Point as Tensions Rise between Australia and China 

GBP AUD: Sterling Trudges Higher Against the Aussie

The GBP AUD exchange rate was higher by 0.22% on Monday as sterling shook off earlier gains to remain in positive territory for a fifth-consecutive day. The price action climbed higher, but the pound could still be marking a bottom in the price for further gains. The Australian dollar supported PMI figures in the Asian session, but the UK also delivered on that metric in the European session, with the sterling rebounded. The GBP to AUD rate traded at 1.7458, looking to further data this week. Australian...
GBP AUD Awaits Australian Manufacturing Data 

GBP AUD Awaits Australian Manufacturing Data 

The GBP AUD exchange rate opened the week with manufacturing data for the Australian economy. The July Purchasing Managers Index will also have final figures for the UK economy. A new report said that Australia saw over 3,900 business liquidations last year. Meanwhile, Thursday’s Bank of England policy meeting will be the critical event. The GBP to AUD rate hovered at 1.7380, finding support at the 1.7200 level. Bank of England policy meeting in view for traders This week’s key economic event is Thursday’s Bank of England...
GBP AUD Pauses After a Recent Bounce Higher 

GBP AUD Pauses After a Recent Bounce Higher 

The GBP AUD exchange rate was flat on Thursday as traders paused the recent economic data. The pound sterling bounced for three days from recent lows, but some headwinds are forcing traders to scale back their bullish bets for now. The Australian government cut its growth expectations in the budget, but there are still promising signs for the Aussie economy.  The GBP to AUD rate was trading at 1.7380 after finding support at the 1.7200 level.  Australian retail sales momentum hits the buffers Australian retail sales slowed...
GBP AUD Gains After Australian Inflation Numbers 

GBP AUD Gains After Australian Inflation Numbers 

The GBP AUD exchange rate was slightly higher on Wednesday after the latest inflation numbers from the Australian economy. The numbers came in 0.1% lower than analysts expected and will not trouble the current interest rate outlook.  The GBP to AUD rate traded at 1.7360. However, there is still the potential for further Aussie dollar gains after a weak bounce from the lows.  Australian inflation dips in July to ease economic fears Australian inflation hit a 21-year high on Wednesday, with the annual rate hitting 6.1%.  The number...
GBP AUD Surges After RBA Hikes Rates Again 

GBP AUD: RBA May Have to ‘Go Large’ on Rate Hikes 

The GBP AUD exchange rate was flat on Monday as traders expect further data. Traders will watch the Australian inflation rate on Wednesday, which could move the pound sterling versus the Australian dollar. Analysts at ING said that the Reserve Bank of Australia might have to ‘go large’ on interest rate hikes due to inflation and tight employment levels.  The GBP to AUD rate opened the week at the 1.7340 level, trading at 1.7338 in Monday’s session. Anthony Albanese rules out fossil fuel mining ban Australian Prime...
GBP AUD: RBA May Have to ‘Go Large’ on Rate Hikes 

GBP AUD RBA May Have to ‘Go Large’ on Rate Hikes 

The GBP AUD exchange rate was flat on Monday as traders await further data. Analysts at ING said that the Reserve Bank of Australia might have to ‘go large’ on interest rate hikes due to inflation and tight employment levels. A former Goldman Sachs Chief economist urged the UK leadership candidates to develop a coherent strategy to boost the economy.   The GBP to AUD rate opened the week at the 1.7340 level, trading at 1.7338 in Monday’s session.  Former Goldman Sachs economist urges ‘coherent strategy’ for...
GBP AUD Surges After RBA Hikes Rates Again 

GBP AUD Bounce May Be Short-lived with RBA Headache 

The GBPAUD exchange rate bounced on Friday but traded at the lows of April. A bullish day sets the stage for a recovery. However, after recent failures at the 1.7800 level, it now wallows at the bottom of the range near 1.7200-7300. A break below those levels could damage the pound sterling.   The GBP to AUD rate opens the week at the 1.7340 level and awaits Australian inflation figures on Wednesday.  UK leadership race enters the final stages with Truss ahead The UK leadership race is now...
GBP AUD Heads for April Lows After UK Data

GBP AUD Heads for April Lows After UK Data

The GBP AUD exchange rate slumped over the last three weeks as the pound rally was extinguished. This week’s inflation and wages figures have the pound sterling on the back foot again, as the pair heads for April lows. That is despite a potential 50bps rate hike coming from the BoE. Meanwhile, Australia is on alert for a possible outbreak of foot and mouth disease, which appeared in Melbourne.  The GBP to AUD rate trades at 1.7379, with the 1.7200 lows from April in focus.  The...
GBP AUD Lower After the Latest UK Inflation Figures 

GBP AUD Lower After the Latest UK Inflation Figures 

The GBP AUD exchange rate slumped by another -0.30 per cent lower after the release of inflation figures for the UK. The latest print came in at 9.4 per cent, slightly higher than analysts expected. The pound sterling suffered against the Australian dollar as traders considered the headwinds to the UK economy.  UK house prices were also higher. After the latest data, the GBP to AUD rate trades at 1.7340.   UK inflation figures top analysts’ expectations again UK inflation again rose to 9.4 per cent, marking a...
GBP AUD Loses Ground After UK Employment Data Release

GBP AUD Loses Ground After UK Employment Data Release

The GBP AUD exchange rate was 0.70% lower after the release of RBA meeting minutes and UK employment. The figures were an improvement on forecasts, but the pace of real wages showed the fastest decline on record. The RBA took a bullish tone on rates, boosting the Australian dollar.  The GBP to AUD rate is trading at 1.7420. It moved closer to April lows of 1.7300.  Aussie dollar gains on hawkish rate tone from RBA The latest RBA meeting minutes showed a hawkish approach to interest rates, keeping a...