The Australian Dollar received a boost from the April jobs report overnight which showed a +37.4k increase in employment but the big picture for the currency remains resolutely global in nature.
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After a shaky start, the pound has recovered versus the Australian Dollar this week.
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GBP/AUD has formed a bearish topping pattern on the daily chart, which suggests a strong possibility of further downside.
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The Australia Dollar is vulnerable to weakness whilst the Pound is a hidden gem according to analysts at Morgan Stanley.
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The Pound lost ground to the Aussie on Wednesday after the government promised more infrastructure spending in their annual budget
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A major recent feature of the markets has been the steep decline in commodity prices and a knock-on effect on commodity currencies.
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The Pound to Australian Dollar has had a strong run higher in the previous week as falling commodity prices hit the outlook for the Australian economy. we now note some signs of a potential overbou…
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