FX News

AUD/GBP Transfer

The Australian Dollar (AUD) closed slightly up on the British Pound (GBP) for the week at the 0.5130 (1.9500) area compared to 0.5100 (1.9620) last week as market moving economic data was non-existent. US employment data was down on expectations Friday helping to boost the Aussie into the close, however apart from this we had very few shifts. The UK economy still has upward pressures on inflation – the highest in the G10, a September 21 hike is not a given at this stage, but chances are the Bank of England may rise from 5.25%. Looking at this week’s docket we have the RBA tomorrow with no change from 4.1% expected.

Current Level: 0.5112
Support: 0.5000
Resistance: 0.5150
Last week’s range: 0.5088 – 0.5133

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