interbank midrate

FX News

AUD/GBP Transfer

The Australian Dollar (AUD) is setting up for the lowest weekly close against the British Pound (GBP) since August 2023 with price continuing to slip to 0.5040 (1.9840). Less than impressive UK Manufacturing and a slide in the Lloyds business barometer haven’t had much impact with overpowering sentiment towards risk off, a lot of this stemming from the upcoming US elections. Today’s Aussie CPI y/y should highlight drops in many consumer products with expectations the figure should fall to 2.9% from June quarters 3.8%. The Aussie may continue to weaken towards next week’s RBA.

Current Level: 0.5039
Support: 0.5000
Resistance: 0.5080
Last week’s range: 0.5090- 0.5165

FX News

AUD/USD Transfer

The RBA has remained ‘STET’ on their monetary policy, although the latest quarterly CPI number (set to be released this coming week), may influence the Central Bank and certainly drive speculation. The AUD has recently slipped below 0.6700, due to US Dollar strength and resurgent US Bond Yields. The RBA reaction to this coming weeks CPI inflation numbers may well determine the future of the AUD/USD.

Current Level: 0.6630
Resistance: 0.6800
Support: 0.6500
Last Weeks Range: 0.6612- 0.6716

 

FX News

AUD/GBP Transfer

The UK economy has been emerging from the recessionary economic conditions, under the guidance of the new Government, but things may be about to change. The UK Budget is next week and the rumours are that there will be tax hikes and budget cuts. The latest is a rumour of expanded deficits/debt, which can only mean that budget cuts will be more a re-prioritisation of spending, rather than cuts. The cross rate is likely to trade around current levels of 0.5100, save some major changes to UK Budget direction or RBA monetary policy.

Current Level: 0.5110
Support: 0.5000
Resistance: 0.5200
Last week’s range: 0.5080- 0.5120

FX News

AUD/GBP Transfer

The GBP has performed relatively strongly over the last couple of months, trading around 0.5200, in the cross rate with the AUD. This is likely due to, the better-than-expected string of positive economic data releases, out of the UK. The Bank of England is likely to recommence rate cuts, as the latest CPI numbers has confirmed the battle against inflation may well be over. There may be some more downward pressure on the cross rate.

The current interbank midrate is: AUDGBP 0.5145 GBPAUD 1.9436

The interbank range this week has been: AUDGBP 0.5106- 0.5169 GBPAUD 1.9344- 1.9584

FX News

AUD/USD Transfer

The AUD has been hit by a relentless rise in the US Dollar reserve, but has performed relatively well, compared to comparable currencies. The reason is the steadfast tight monetary position the RBA has held, in an attempt to stamp out stubbornly high inflation. The relatively good performance of the OZZY, has been due to monetary policy, and this is likely to continue until the RBA sees a creditable turn in the inflation trend line. The AUD trades around 0.6700.

The current interbank midrate is: AUDUSD 0.6695

The interbank range this week has been: AUDUSD 0.6656- 0.6744

FX News

AUD/USD Transfer

The Australian Dollar (AUD) has pushed off the early week low of 0.6700 against the US Dollar (USD) to 0.6725 this morning, consolidating around these levels after sliding from 0.6940 over the last fortnight. Its tough to know if we will see further declines amid this bear trend or see the Aussie recover losses. Improved sentiment out of China will be certainly helping as well as a pickup in US equities and recovering commodity prices. Fed’s Waller commented saying recent US inflation was disappointed with the Fed now needing to make critical decisions on the pace of cuts while maintaining caution. Waller said the economy is still on a solid footing and may not be slowing as much as they hope. Aussie unemployment prints Thursday is expected to come in at no change from 4.2%.

 

Current Level: 0.6726
Resistance: 0.6800
Support: 0.6700
Last Weeks Range: 0.6698- 0.6809

 

FX News

AUD/GBP Transfer

After closing the week on a high the Australian Dollar (AUD) has given back gains into Tuesday trading around the 0.5140 (1.9450) area against the British Pound (GBP). The Pound has had the help of Industrial Production and Manufacturing prints both releasing above expectation. UK GDP m/m for August also came in at 0.2% meeting predictions after two months of stagnation. Data this week comes in the form of UK inflation with markets expecting a 0.3% fall off 2.2% y/y. Anything north of this could spell trouble for the inflation cautious Bank of England. With stimulus measures in China looking better we believe the AUD could pick up points this week and retest 0.5170 (1.9340)

 

Current Level: 0.5148
Support: 0.5110
Resistance: 0.5180
Last week’s range: 0.5132- 0.5197

FX News

AUD/USD Transfer

The Australian Dollar (AUD) extended declines into Thursday to 0.6712 against the US Dollar (USD). The stronger greenback has been outperforming of late due to a “risk off” tone. Chinese stocks have tumbled over scepticism over Beijing’s stimulus measures, the biggest drop in 4 years falling over 7%. This has had an impact on the Aussie as it undermines the currency. RBA’s deputy governor Hauser said yesterday at the central bank minutes that the bank will act as soon as inflation stops being high and sticky. Currently the RBA’s inflation sits at 3.8% much higher than their 2-3% target range. We expect further momentum in the cross to the downside.

Current Level: 0.6718
Resistance: 0.6800
Support: 0.6640
Last Weeks Range: 0.6784- 0.6947

 

FX News

AUD/GBP Transfer

All upside moves by the Australian Dollar (AUD) last week have been reversed this week with the cross turning on a dime around 0.5220 (1.9170) clocking 0.5140 (1.9470) this morning. Most of the Aussie weakness coming from risk sentiment and Chinese stimulus measures. Chinese equities have plummeted overnight over 7% not helping the AUD suffering the biggest drop in 4 years. UK m/m GDP prints tomorrow evening and should be positive following a recent pickup in manufacturing. 0.5120 (1.9520) is the next target support.

Current Level: 0.5139
Support: 0.5080
Resistance: 0.5175
Last week’s range: 0.5157- 0.5229

FX News

AUD/USD Transfer

The Australian Dollar (AUD) has been a top performer across the main board of currencies this week based on the only central back looking to delay rates until early next year, this has created divergence in currency movements. However, we have still seen a slide to 0.6830 over the week but the drops have been well supported compared to other currencies which have freefallen. Iran launched around 200 ballistic missiles into Israel earlier in the week, Israel’s Netanyahu vowing to fight back with force. Risks of full-blown war in the region are real with market appetite to take on “risk” products poor. Attention now is with US Non-Farm Payroll (NFP) tomorrow morning, anything softer than forecast could highlight the need by the Fed to cut rates deeper. Downside risks in the AUD remain.

The current interbank midrate is: AUDUSD 0.6843

The interbank range this week has been: AUDUSD 0.6828- 0.6941