Pound Australian Dollar forecast page 23 - GBP AUD

POUND STERLING UK Q2 current account data released earlier showed that the gap between British imports and exports is narrowing. The data was far better than anticipated, taking the Pound higher against almost all of the other major currencies on the day. Bank of England Governor Mervyn King’s comments which questioned the efficacy of...

POUND STERLING This week is an extremely quiet week for UK data, with no significant releases due today. This means that investors are likely to concentrate on the UK’s relative yields versus other economies, which is likely to spell bad news for investors holding Sterling-denominated investments. NEAR-TERM OUTLOOK – NEUTRAL TO...

POUND STERLING Today was a good news/bad news day for the Pound. On the credit side, this morning’s UK Public Sector Net Borrowing figure for September came in at a lower-than-anticipated level. However, the Nationwide Consumer Confidence survey showed that British consumer confidence contracted for the fourth month in succession. The...

POUND STERLING UK Retail Sales figures for September, released earlier today, significantly bettered analysts expectations, both on a monthly and an annualised basis. However, Sterling has lost ground on the day against almost all of the other majors. The old market adage states that, ‘what should go up and doesn’t go up can only come...

POUND STERLING This morning’s UK CPI Inflation data for September showed that British prices are rising at an annualised 5.2% versus the government’s target of 2%. Ordinarily a release of this nature would see the economy in question’s currency come in for strong support, however the Pound has struggled to make gains on the day,...

POUND STERLING The Pound has performed reasonably on the day against all of the majors, with the exception of the low-yielding Yen and US Dollar. This has been in spite of a report by the Ernst & Young’s widely-respected Item Club, predicting a slowdown in British economic activity and the release of the latest Rightmove House Price...

The Pound Euro exchange rate (GBP EUR) is 1.1390. The Pound Dollar exchange rate (GBP USD) is 1.5826. The Pound Australian Dollar exchange rate (GBP AUD) is 1.5304. Last week ended with a better-than-anticipated US data release for the second week in succession, with Friday’s US Retail Sales data for September, (the week before saw the...

POUND STERLING The Pound has once again performed weakly during today’s session in the currency markets, in spite of this morning’s release of data which showed that the UK’s trade deficit narrowed to £1.9bn in August, thanks to record monthly export figures. With no further UK data of note due for release for the remainder of the...

POUND STERLING Figures from the UK’s Office of National Statistics released this morning showed that British unemployment reached a 17-year high of 2.57m last month. The data also showed that almost 1m 16-24 year olds in the UK are without a job. These depressing numbers have held back Sterling on the day. NEAR -TERM OUTLOOK – NEUTRAL...

POUND STERLING This morning’s UK Manufacturing Production data showed a monthly contraction of 0.3% in British manufacturing output between July and August, providing more bad news for the UK economy. If tomorrow’s UK Jobless Claims Change figure provides further evidence that the slowdown in the UK economy is picking up pace, then it...