The Pound Sterling to Australian Dollar (GBP/AUD) exchange rate has declined significantly today, although in other pairings the UK currency has fared slightly better.
GBP/AUD Exchange Rate News: Fluctuating Water Levels Matched Sterling’s Performance This Week
The Pound Sterling (GBP) has largely been shifted in value by external factors this week, due to the fact that only one piece of domestic data has been released. This was Wednesday’s Nationwide House Price report for December, which rose above forecasts both on the month and the year.
The only other event to speak of has been the arrival of Storm Frank to the British Isles; this latest battering from the Atlantic has already made its mark, with the cumulative damage costs from the most recent three storms estimated by PwC to be in excess of £3bn.
The Pound Sterling has fallen by -0.4% against the Australian Dollar (GBP/AUD) today but has otherwise risen by 0.4% against the Euro (GBP/EUR), 0.5% against the Swiss Franc (GBP/CHF) and by 1.6% against the Russian Ruble (GBP/RUB). This represents a sizable improvement on yesterday’s GBP movement.
Australian Dollar (AUD) Rallies against Competition Today as Iron Ore Prices Remain Supportive
The Australian Dollar (AUD) has managed to achieve an uptrend status against all of its major peers today, with these gains coming primarily because of the currently beneficial price of iron ore. For the ninth session in a row, the price of the mining commodity has risen, thereby allowing the Australian currency to remain above water against its usual rivals.
The last Australian data of the year that was released today was less favourable, with Private Sector Credit falling on the month and the year in November. However, this has failed to prevent gains of 0.4% against the Pound Sterling (AUD/GBP), 0.5% against the Canadian Dollar (AUD/CAD) and 0.8% against the Euro (AUD/EUR).
GBP/AUD Exchange Rate Forecast: US Claims Data Out Today ahead of Chinese Manufacturing Results
As the next economic publications that are likely to affect the Pound Sterling (GBP) directly aren’t out until January 4th, the Australian Dollar (AUD) will have a relatively clean sweep on data releases in the remaining hours of the current year and in the immediate start of the New Year.
Today, announcements that are likely to cause movement for the ‘Aussie’ include the US Initial Jobless and Continuing Claims statistics for December; at the time of writing, forecasts had not been made for the latter result but an increase in the former field from 567k to 573k had been predicted.
Tomorrow, China’s Manufacturing PMI for December will be released and fortunately for the ‘Aussie’, current expectations are for a minor rise from the previous figure of 49.6 to a new high of 49.8.
One of the first UK releases to speak of in the New Year will be November Mortgage Approvals, which are forecast to rise fractionally from 69.63k to 70k.
Current GBP, AUD Exchange Rates
The Pound Sterling to Australian Dollar (GBP/AUD) exchange rate was trending in the region of 2.0258 and the Australian Dollar to Pound Sterling (AUD/GBP) exchange rate was trending in the region of 0.4938 today.
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