Anthony from Moneycorp

• GBP/AUD rose to a fresh 33-month high on weaker than expected Australian retail sale growth
• Monthly results of Aussie retail sales and trade balance flashed mixed signals for the AUD traders on Thursday.
• With little economic data on hand to follow, investors may now observe developments concerning Brexit and the US-China trade ahead of Friday’s trade balance figures from China.
• While the British Pound (GBP) is rising against the AUD, it has its own problems in the form of Brexit. Latest developments say that the EU-UK leaders’ meeting in Brussels summed up without any progress as both the sides continue to jostle around Irish backstop.

The Pound Sterling to Australian Dollar exchange rate is on the offensive and is being pushed higher by rising enthusiasm amongst dealers.

Tonight's Australian employment data is really important . By the time they come out it is possible that the media will have something to say about the success of Theresa May's Brussels jaunt.

AUD overnight implied volatility as currency traders await the Reserve Bank of Australia's interest rate decision.

Investors now await monthly readings of the UK Services PMI followed by testimony by the Governor Mark Carney. 

Monday’s session saw the Pound Sterling Australian Dollar (GBPAUD) exchange rate hold firmly in the vicinity of last week’s AU$1.87237 multi-month high with the cross last seen at AU$1.86924, up 0.27% from the session open.

Last week saw the GBP climb against all majors, boosted by Brexit related optimism with this continuing to be a key driver for the GBP into Monday’s session following news-flow over the weekend suggesting the EU could provide assurances on the finite nature of the Irish backstop as well as expectations that should MPs reject the PMs deal on March 12th they would likely back an Article 50 extension to avoid a no-deal outcome.

For the Aussie Dollar, Daiwa Securities senior strategist, Yukio Ishizuki, feels the antipodean currency could be undervalued. Following Aussie depreciation in the wake of weak business inventory figures, he wrote “The data was seen as pointing to a weak reading in Australian GDP data due on Wednesday, prompted speculators to create new short positions.”

He added “Interest rate futures are now pricing in a rate cut this year but the economy could turn out to be stronger than expected given recent strength in commodity prices. I’d bet the Aussie could easily rise.”

An expected shift to dovish/neutral in central bank meetings this week could see a recovery of risk-appetite which could also support the Aussie.

Figures already released today showed Australia's employment rate holding steady at 5.0% as the number of people in work increased by 33k in October. All of them were full-time jobs. The data gave a boost to the Aussie, which is a cent higher on the day.

Hi @Turvie

I do apologize for the no lack of response from Harpreet.

Please feel free to email partners@moneycorp.com mentioning Poms in Oz and i will be happy to assist you.

Regards,

Anthony

Hi @Turvie

A CK Reference is a unique number attached to your account. You can think of this as an an Account Number.

I do not believe OFX have the capability to accept third party payments.

As @Marisawright so kindly said, That is one of the many advantages of using moneycorp!

Regards,

Anthony

Hi @Turvie and thank you @Marisawright and @Wa7

You can simply open a moneycorp account and your brother can pay into your moneycorp account.

You will be able to give him your CK Reference number to receive the funds into your account.

I hope this has helped to answer your question

Anthony