GBP AUD Looks for Support at the April Lows

GBP AUD Higher but Still Under Pressure

The GBP AUD exchange rate was 0.14% higher on Thursday and still seeing a boost from recent data, but the Aussie dollar has still been in control. The focus in Australia is on the Federal election later next month. The Bank of England is under pressure to raise interest rates again after the latest inflation data and that will support sterling. The GBP to AUD is trading at 1.7620 and has resistance at 1.77 to 1.7800. Bank of England expected to raise interest rates again The Bank...
GBP AUD Presses Recent Highs on GDP, Risk Woes

GBP AUD Jumps with Higher Inflation Numbers

The GBP AUD exchange rate was almost 1% higher after the latest inflation reading from the UK. Analysts were expecting a reading of 6.7% but saw a 7% increase. The Bank of England may be pressured to act on rates if inflation keeps stretching beyond their 2% target. The day ahead has Australian employment figures for direction. The GBP to AUD is trading at 1.7600 and has resistance ahead as it tries to recover recent losses. UK inflation soars to 7% ahead of BoE interest rate...
GBP AUD Lower After Weak UK Employment Data

GBP AUD Lower After Weak UK Employment Data

The pound to Australian dollar exchange rate was -0.79% lower on Tuesday after weaker UK employment data. The economy saw jobs back at pre-pandemic levels, but the gain was less than expected and wages were lower due to inflation. Today will have another test for sterling as the latest inflation figures are released. The GBP to AUD is moving back into its recent bearish mood and will look to inflation for a change in direction. UK employment back to pre-pandemic levels, wages weaker The Office for National...
GBP AUD Tests April Lows After BoE Rate Hike

GBP AUD Higher Despite ‘Measly’ UK Economic Growth

The GBP AUD exchange rate opened the week with a gain of almost 0.50% despite disappointing UK growth figures. The pound sterling is on a four-day recovery after the collapse in price that followed the Russia and Ukraine war. The latest economic figures for the UK showed a flat performance before the rise in oil prices. The GBP to AUD rebounded and is trading at 1.7560 with resistance ahead at 1.7800. UK sees ‘measly’ growth before the Russian invasion UK economic growth lagged behind expectations in February,...
GBP AUD Consolidates with UK Employment Due

GBP AUD: Aussie PM Confirms May 21 Election Date

The GBP AUD exchange rate opens the week around the 1.7475 level with the Australian Prime Minister Scott Morrison confirming the 21st of May as the date for the upcoming election. The incumbent government will now have six weeks to overturn their loss in the polls. The week ahead will have trade and inflation data for China and that could impact the Australian dollar. The GBP to AUD rebounded from its recent collapse, but still has a long way to go to repair the damage. Scott...
GBP AUD Dips Again Ahead of BoE Rate Decision

GBP AUD Recovers to 1.7500

The Pound to Australian Dollar exchange rate was 0.40% higher on Thursday as sterling tries to hold that key level which was reached in January of 2021. The Australian dollar suffered from a lower-than-expected trade balance. Business groups in the UK have called for an energy price cap to protect investment in the country. The GBP to AUD was trading at 1.7460 after seeing new yearly lows on the week. Australian trade balance suffers with geopolitical scene The Australian trade balance came in much lower than expected...
GBP AUD Lower with Inflation at 20-Year High

GBP AUD Sees Mild Recovery from Rate Talk

The Pound to Australian Dollar exchange rate was 0.17% higher on Wednesday as the pound sterling recovered from the latest bout of selling. A more dovish tone from the RBA saw new lows for the year in sterling and continued the sharp downtrend from the late-January highs above 1.19100. The pound was helped by strong construction data in March. The GBP to AUD saw new lows for the year at the 1.7200 level. Construction remained strong in the UK for March British construction remained strong in March,...
GBP AUD Moves Lower After UK Inflation Report

GBP AUD Hurt After RBA Turns Hawkish on Rates

The Pound to Australian Dollar exchange rate was 1.0% lower on Tuesday after the Reserve Bank of Australia (RBA) finally adopted a more hawkish tone on interest rates. The move confirms traders’ expectations for rate hikes this year with a May or June lift-off expected by analysts. UK services firms were seen hiking prices to cope with inflationary pressures. The GBP to AUD saw new lows for the year at the 1.7200 level. Aussie dollar strong after hawkish RBA policy comments The Australian dollar was trading at...
GBP AUD Lower Ahead of Australian PMI Data  

GBP AUD Continues Downtrend Before RBA Meeting

The Pound to Australian Dollar exchange rate continued its downtrend ahead of the latest Reserve Bank of Australia interest rate meeting. The market expects the bank to hold off on any rate rise until after the election in May, but comments from the governor may affect the price for the exchange rate. The pound sterling is suffering from the latest move by Russia to curb energy supplies to Europe. The GBP to AUD is now trading at opens this week at 1.7385 after breaching the...
GBP AUD Lower on Strong Aussie Retail Sales

GBP AUD Higher Ahead of RBA Interest Rate Decision

The GBP AUD exchange rate opens the week to an interest rate decision from the Australian central bank. Markets are now looking to June for the first rate hike from the Reserve Bank of Australia (RBA). In the UK, energy fears still dominate after Russia cut off some gas supplies to the UK and Europe. That will hamper the pound sterling and the economic outlook for the UK and its trading partners. The GBP to AUD opens the week at 1.7470 which is near the...