The British Pound (GBP), Australian Dollar (AUD) traded in a tight range over the week in thin liquidity pivoting around the 0.5235 (1.9100) area for the most. UK Manufacturing was the only highlight this week printing better than markets were predicting overnight at 46.7 vs 45.0 for October up on September’s 44.8 on the index. Although the data was positive, new orders have decreased 3 months running as the manufacturing sector slows. The news sent the Pound higher from 1.9060 (0.5250) to 1.9135 (0.5225) post the news. Australian monthly y/y CPI Wednesday is our focus with a small drop expected.
The current interbank midrate is: AUDGBP 0.5230 GBPAUD 1.9120
The interbank range this week has been: AUDGBP 0.5214- 0.5259 GBPAUD 1.9015- 1.9179