FX News

AUD/GBP Transfer:

Late last week’s hawkish tone from the ECB seems to be losing its impact this week with the cross coming off the open at 0.6125 (1.6330) to 0.6165 (1.6220) in early trading Tuesday. The EU economy seems to be weathering the Ukraine war well with a diversification of gas supply and recent falls in prices. The economy continues to grow with GDP forecasts this year of a 1.1% gain in growth compared with 0.9% forecast back in February. Fears of a recession in the area are abating. Coming up we see Aussie employment data Thursday.

Current Level: 0.6165 (1.6220)
Resistance: 0.6200 (1.6800)
Support: 0.5950 (1.6120)
Last Weeks Range: 0.6117-0.6198 (1.6134-1.6346)

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