The Australian Dollar rose temporarily after strong employment data boosted the outlook for the economy on Thursday but those gains proved ephemeral after it became clear most of the job gains had …
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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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