The Pound Sterling (GBP) has trended narrowly in a positive range against the Australian Dollar (GBP/AUD) today, mainly on account of the strengthening US Dollar (USD) pushing the ‘Aussie’ (AUD) down.
Chinese Loans may Trigger further GBP/AUD Movement before Next Week Begins
The next direct data for the pairing isn’t due until Monday, but a Chinese announcement on Sunday has the potential to initiate movement before then. This is the Chinese New Yuan Loans result for October, which at the time of writing was forecast to decline from a previous figure of 1050bn to 800bn.
Earlier…
The Pound Sterling to Australian Dollar (GBP/AUD) exchange rate has fallen considerably today, although this is more due to a bull run from the ‘Aussie’ (AUD) than anything else.
GBP/AUD Exchange Rate News: RICS Forecasts UK House Price Crisis by 2020
The Pound Sterling (GBP) has declined by -1.2% against the Australian Dollar (GBP/AUD) today, while elsewhere Sterling has dropped by -0.2% against the Singapore Dollar (GBP/SGD) and -0.6% against the Israeli New Shekel (GBP/ILS). However, the Pound has also recorded rises of 0.2% against the Czech Koruna (GBP/CZK) and 0.6% against the Norwegian Krone (GBP/NOK).
The only UK data out today has been the Royal Institute of Chartered Surveyors (RICS) House Price Balance, which has risen above forecasts to come in at 49%. The previous result was 44% and a smaller rise to 45% had been expected. The RICS was not optimistic over the future of UK housing, however, as it predicted that due to a combination of too few houses and ballooning costs, the unaffordability of property will reach a critical state over the next 5 years.
Australian Dollar to Pound Sterling (AUD/GBP) Exchange Rate Soars on Better-than-Expected Employment Results
The Australian Dollar (AUD) has risen across the board today, with a 1.3% gain on the Pound Sterling (AUD/GBP) being just one of many rises. Other advances have been made up of 0.9% against the US Dollar (AUD/USD) and the New Zealand Dollar (AUD/NZD), 1.1% against the Canadian Dollar (AUD/CAD) and more than 1.2% against the Chinese Yuan (AUD/CNY) and the Euro (AUD/EUR).
The most supportive factor for the ‘Aussie’ today has been the outcome of October’s Employment figures; the Employment Change has risen from -0.8k persons to 58.6k, which has caused the Unemployment Rate to fall from 6.2% to 5.9%. Adding to the beneficial nature of these results, the Full Time Employment Change for the same month has printed a 40k rise.
GBP/AUD Exchange Rate Forecast: Fed Speeches have Potential to Unsettle Pairing in Near Future
Although no further UK or Australian economic releases are due for today, the pairing may still be shifted by the outcome of the afternoon’s speeches from key Federal Reserve officials, such as James Bullard, Jeffrey Lacker and Chair Janet Yellen. As with any Fed speech, a rise in value for the US Dollar (USD) is likely to come from hawkish statements, which in turn is probable to reduce the appeal of the Australian Dollar (AUD).
Looking further ahead, tomorrow will bring the UK September Construction Output figures, which have been forecast to rise by 1.5% from -4.3% on the month and remain negative from -1.3% to -0.4% on the year.
Current GBP, AUD Exchange Rates
The Pound Sterling to Australian Dollar (GBP/AUD) exchange rate was trending in the region of 2.1290 and the Australian Dollar to Pound Sterling (AUD/GBP) exchange rate was trending in the region of 0.4699 today.
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