Jump to content

You're currently viewing the forum as a Guest
and join in with discussions   
ask migration questions
message other members

..and much much more!

Sign in to follow this  
John from Moneycorp

Australian Dollar Review

Recommended Posts

Hi all - review below over the past few months - thanks.

Bringing up the rear, the Aussie dollar fare worst in the last week of Q1 with an average loss of 1.2% against its major counterparts. It lost twice that much - four and a quarter cents - to the pound, which was the leader of the bunch.

Part of the Aussie's problem was home-grown: disappointing jobs data showed unemployment ticking up to 5.6%. Part was exogenous: a broadening of the US administration's protectionist tariffs to include China and the appointment of the bellicose John Bolton as National Security Advisor.

Looking back at the quarter, the Aussie dollar has had the occasional move higher but overall has slumped in value versus the US dollar and the pound. Consumer confidence figures were mixed, posting a slightly positive result in March after a 2.3% drop in February. Similarly retail sales offered a mixed bag of monthly results.

Looking ahead to Q2 the pound will continue to be driven by the ongoing negations between the UK and the EU, whilst the prospect of a May interest rate rise by the Bank of England may add some strength to the currency.

Similarly the ongoing tensions between the US and China in relation to trade and tariffs will likely have a continued effect on commodity backed currencies.

  • Like 2

Share this post

Link to post
Share on other sites

Looks like today's announcement in the UK that "GDP growth was 0.1%, down from 0.4%" has put more doubt on a rate rise in May so once again we have a weaker currency :( 

Edited by Davo453

Share this post

Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
Sign in to follow this