Australian Dollar Forecast

GBP/AUD sits poised at a key area of resistance that, if broken, could usher in new highs, but failure to breach could ultimately result in a pullback over the course of the coming week.

GBP/AUD has been edging higher for a number of weeks and could extend the advance if global sentiment linked to China deteriorates further.

GBP/AUD at 1.78 and then 1.80 is possible if the cards fall in Sterling's favour.

GBP/AUD, EUR/AUD and AUD/USD forecasts from Intesa Sanpaolo.

GBP/AUD higher at the start of another week that could well centre on developments in China, where authorities are proving eager to push back against rumours they are willing to reconsider their zero-Covid policy.

AUD and NZD are set to extend their decline as commodity prices prove unsupportive and a fall in global stock markets continues well into 2023.

Goldman Sachs cut AUD forecasts, raising GBP/AUD forecast profile. Credit Suisse says staying bearish AUD.

The Australian Dollar is a "quality" currency that is set to rally against the U.S. Dollar and all other major currencies over coming months, according to new analysis from BMO Capital Markets.

"We expect the Australian dollar to weaken over the remainder of this year and next, for two key reasons" - Capital Economics.

The Australian Dollar is "catching its breath" before it pushes higher, according to a new analysis from Rabobank.

AUD will likely remain preferred to GBP for the foreseeable future, but a break below a key level looks unlikely says Westpac who reckon much of the UK's energy shock is 'in the price'.

AUD is set to remain favoured against GBP over coming days.

JP Morgan backs a rise in the Australian Dollar over coming months, saying the country's record breaking trade surpluses will provide a fundamental source of support.

AUD is underperforming its G10 peers at the start of the new week following the release of disappointing data from China, but it nevertheless looks well supported against the British Pound having broken out of a long-held range on Friday.

GBP/AUD recovering from bottom of range, reaffirming downside support levels

GBP/AUD has appreciated 1.86% over the past month and could test 1.79 says CBA.

The Australian Dollar was among the top performing major currencies in the final session of the week but it was also close to the bottom of the barrel for the period overall and may be at risk of further losses that could see AUD/USD slipping back below 0.70, according to strategists at Westpac. 

The Australian and New Zealand Dollars led a major currency rebound early in the midweek session but remained underperformers for the month to early May and Commonwealth Bank of Australia has warned that recent losses could yet extend further and by up to five cents in both cases.

Bank of America have looked at the data and it would seem selling the Canadian Dollar and Australian Dollar on a Friday is offering consistent returns.

The Australian Dollar will struggle to push GBP/AUD below the floor at 1.72 if the expectations at a major European lender and financial services provider prove correct.