GBP/EUR, GBP/AUD Climb as Markets Anticipate a Softer Brexit, Australian Employment Data Ahead| Thinking Australia
Sydney: Tue 11:00PM
Select Destination
Location Time Temp
Sydney11:00PM Tue12°
Melbourne11:00PM Tue
Brisbane11:00PM Tue12°
Perth9:00PM Tue12°
Adelaide10:30PM Tue
Hobart11:00PM Tue
Canberra11:00PM Tue
Darwin10:30PM Tue21°


Get our help FREE advice or find service providers with our ozdirectory

GBP/EUR, GBP/AUD Climb as Markets Anticipate a Softer Brexit, Australian Employment Data Ahead

18 January 2018 by News Desk

Currency experts FC Exchange explain why the pound is performing well, and discuss what could impact the Aussie this week.

The pound has been trending higher against the euro (GBP/EUR) and Australian dollar (GBP/AUD) on Wednesday afternoon as news that a softer Brexit might occur kept investors interested in sterling. Rumours that Spain and the Netherlands want a soft Brexit for the UK and strong ties after the UK leaves the EU has helped to buoy the British currency, which has recently achieved its highest level against the US dollar (GBP/USD) since the Brexit vote.

In the rest of the week, investors will be looking forward to Thursday’s UK house price balance data and Friday’s UK retail sales numbers, as well as a host of speeches made by central bankers. Thursday will see European Central Bank (ECB) representatives talk in Frankfurt, alongside the International Monetary Fund’s (IMF) Christine Lagarde. UK retail sales are expected to come in at 2.6% on the year in December which could bode well for the pound, while comments from ECB representatives have the impact to shake-up the euro.

Additionally unfolding in the UK, is the collapse of Carillion, one of the UK’s largest construction companies. British banks have now put in place emergency measures to help small businesses that are being plunged into uncertainty following the collapse. Since the news that Carillion is going into liquidation hit markets, there have been concerns over mass job losses and fears that many smaller companies would face big financial losses as they were owed money by the construction giant.

Meanwhile, in Australia, the Aussie has been surging against the US dollar pushing close to the 0.80 barrier. The Australian home loans ecostat rose by 2.1% in November on the month aftre forecasts had suggested no growth would occur. Investors are looking towards Thursday’s employment change and unemployment rate figures to determine AUD exchange rate movement.

Disclaimer: This economic update is provided by FC Exchange a Global Reach Group Company, industry leaders in foreign exchange. Authorised affiliates are permitted to reuse content.

Learn more about the Australian Dollar – Contact FC Exchange: Get A Quote

Want to live and work Down Under? Click here for expert help: Skilled Migration to Australia

Want to get a job Down Under? Click here for expert help: How to Get a Job in Australia

Click here for expert help with travel visas: Travel Visas to Australia

Click here for tourist information about Australia: Visit Australia

We use cookies on Thinking Australia

This website uses cookies to ensure you get the best experience on our website. Please confirm permission to use cookies. Cookie Policy Privacy policy