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Global Markets Update Sterling Euro Dollar and AED in Focus

The Australian Dollar has hit a three-year high today after aggressive comments from Reserve Bank of Australia’s deputy governor Andrew Hauser helped to strengthen expectations for another interest rate hike later this year.

Andrew Hauser contributed this to consistent inflation pressures remaining and that the central bank would not stand back from acting again if these pressures continued. The central bank increased their rates by 25 basis-points in their last meeting to 3.85%, with expectations suggesting another rate hike would take their rates closer to 4%.

Elsewhere, soft U.S Retail figures for December again seemed to support the notion that America’s economy, the largest in the world was cooling. Focus will now crucially turn to the release of Non-Farm Payrolls this afternoon for more clues and guidance on the next move from The Federal Reserve. If we were to see continued weakness within the jobs market then this would undoubtedly drive up expectations for further interest rate cuts moving forward. Keeping with The U.S, we have their Inflation numbers set to be released on Friday.

GBP/EUR 1.1480 GBP/USD 1.3692 GBP/AED 5.0327
GBP/AUD 1.9233 GBP/CHF 1.0483 GBP/CAD 1.8498
GBP/NZD 2.2568 EUR/USD 1.1912 GBP/ZAR 21.7088

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