GBP AUD Moves Higher with a UK GDP Boost 

GBP AUD Moves Higher with a UK GDP Boost 

The GBP AUD exchange rate was 0.07% higher after the latest figures for UK GDP showed a surprise increase in growth. Analysts expected a 0% monthly number, with the economy lurching towards a recession. A 0.5% gain for the month allayed those fears. Australia is now dealing with a winter surge of covid cases, which could see the dollar pressured if health officials urge further lockdowns.  The GBP to AUD rate trades at 1.7600. It is still not out of the woods against the Aussie...
GBP AUD Gains After Australian Inflation Numbers 

GBP AUD Drops Despite Weaker Westpac Consumer Data 

The GBP AUD exchange rate was -0.38% lower despite weaker Westpac consumer confidence data. The consumer data could hurt the Reserve Bank of Australia’s rate hike plans if consumers rein in spending.  The GBP to AUD rate trades at 1.7590. It looks for a catalyst to break from consolidation.  Confidence drops among Australian consumers again According to survey data from Westpac on Tuesday, Australian consumer confidence dropped again to new lows in July due to surging inflation and interest rate hikes.  The Westpac-Melbourne Institute Index of Consumer Sentiment...
GBP AUD Slips After Australian Retail Sales Rise 

GBP AUD Lower Ahead of BRC Retail Sales 

The GBP AUD exchange rate opened slightly lower this week as traders await BRC retail sales for the UK. The Aussie dollar has Westpac consumer confidence later in the week. The UK’s leadership race is underway for the Prime Minister’s job, but the pound may struggle as no new policies will be introduced before Boris Johnson leaves. Rishi Sunak is said to be among the frontrunners.  The GBP to AUD rate trades at 1.7540 after trading in a range since early-April.  Beijing blames coalition government for...
GBP AUD in a Familiar Range Despite Leadership Change

GBP AUD in a Familiar Range Despite Leadership Change

The GBP AUD exchange rate was lower last week and trades in the familiar range that has held up since early April. The resignation of Boris Johnson started a leadership race with nine Conservative ministers. Australian pension funds will still need to rely on mining firms for returns despite the pivot to renewables.  The GBP to AUD rate trades at 1.7544 as the week commences.  UK leadership race underway with nine runners  Nine Conservatives are already in the race for the chance to replace Boris Johnson as...
GBP EUR Exchange Rate: Weekly Review July 9th

GBP AUD Mixed After Boris Johnson Resigns

The GBP AUD exchange rate recovered earlier losses to post a slight gain after UK Prime Minister Boris Johnson announced his resignation. Johnson tried to cling to the post but stepped down after meeting Sir Graham Brady. The pound will benefit from the end of a messy few months for the British leader. In Australia, stronger trade balance figures lifted the dollar, driven by higher coal exports.  The GBP to AUD rate trades at 1.1760 and pauses to absorb the impact of a new Prime...
GBP AUD Slumps After UK Cabinet Resignations 

GBP AUD Slumps After UK Cabinet Resignations 

The GBP AUD exchange rate was sharply lower by -0.67% after the resignation of two senior cabinet members from Boris Johnson’s government. That puts the Prime Minister’s future in doubt again, adding pressure to the pound sterling.  The GBP to AUD rate trades at 1.17460 and the failure to top the 1.7800 resistance for the pound in recent months risked a further sell-off.  Boris Johnson reeling from double resignation  British Prime Minister Boris Johnson saw his fortunes go from bad to worse with the resignation of two...
GBP AUD Gains After Australian Inflation Numbers 

GBP AUD Higher After RBA 50 bps Rate Hike 

The GBP AUD exchange rate was 0.44% higher on Tuesday after the Reserve Bank of Australia hiked interest rates by 50bps as expected. The Aussie dollar softened after a weaker than expected PMI services number. The RBA also said that they would be guided by data for future rate hikes  The GBP to AUD rate was higher but is not troubling the overhead resistance at 1.7800.  RBA lifts interest rates by 50 basis points to 1.35%  The Reserve Bank of Australia raised interest rates to 1.35% in...
GBP AUD Surges After RBA Hikes Rates Again 

GBP AUD Lower After Aussie Home Loans Data 

The GBP AUD exchange rate was -0.33% lower on Monday after stable home loans data soothed fears of a housing market slump. Rising interest rates made analysts worry that prices could drop for homes. Tuesday brings retail sales for the Aussie dollar and PMI for both the Australian and UK economies.  The GBP to AUD rate failed to get above the key 1.7800 level and now trades at 1.7680.  Australian home loans rise despite big bank rate hikes  Home loans in Australia increased by 2.1 per cent...
GBP EUR Exchange Rate: Weekly Review July 16  

GBP AUD Starts the Week on a Strong Note 

The GBP AUD exchange rate was 0.63% higher on Friday and starts the week with resistance. Iron ore prices weigh on the Aussie dollar and commodities across the board slipped from recent highs.  The GBP to AUD rate traded near the 1.7800 level which capped gains in the pair since the end of April. The pound sterling needs to push beyond that level for a sustained rally.  The Australian mining sector continues to provide the fuel for growth  According to forecasts, Australia's mining and energy exports will...
GBP AUD Surges After RBA Hikes Rates Again 

GBP AUD Higher Despite Strong Aussie Retail Sales 

The GBP AUD exchange rate was 0.22% higher on Thursday as the pound sterling retains a bid against the Australian dollar. The pound was boosted by steady housing prices, although slowdown fears persist. The UK’s FTSE share index also shrugged off deeper losses in global stocks due to oil and mining stocks.  The GBP to AUD rate vaulted above the 1.7660 but the pair looks like it is waiting for a larger price catalyst.  Australia’s Volt bank collapses with customers urged to remove funds  An Australian online...