Send Payments Weekly Trading Update 6th January 2025

Send Payments Weekly Trading Update 6th January 2025

In The News🌏 – Market Conditions and what to look out for this week 🗓️

AUD/GBP Exchange Rate

• AUD/GBP dropped to multi-year lows over the Christmas period, dropping into the low 0.49's before regaining the 0.5000 level on Thursday.

• Throughout December, the rate dropped to 5.1%, starting at 0.5200 and ending the month at 0.4930.

• The AUD has dropped rapidly against various currencies due to potential rate cuts in Australia and a broad risk-based sell-off in the currency. 

AUD/EUR Exchange Rate

• The AUD/EUR rate has experienced a similar decline, dropping 4% in December. 

• The rate reached 4 month lows of 0.5955, before rebounding late last week above the 0.6000 level. 

• Domestic pressures are weighing heavily on the AUD as it wrestles to stay above the psychological 0.6000 mark.

AUD/USD Exchange Rate

The pair remains under pressure from rising expectations of RBA rate cuts, concerns over a potential US-China trade war and strength in the U.S. dollar as a safe-haven asset.

• The November Consumer Price Index (CPI) report, due Wednesday, will be critical for shaping expectations of a February RBA rate cut.

• A weak CPI reading could reinforce bets on easing and further weigh on the Aussie.

• The Fed is expected to pause rate cuts at its January meeting after three consecutive reductions, keeping policy restrictive as inflation remains above target.

• US December employment data (due Friday) and ISM Manufacturing PMI will influence USD strength.

• Market sentiment has shifted toward safe havens, keeping AUD/USD under selling pressure.

Things to look out for this week;

• Monday 6 January

  • 🇩🇪 German Prelim CPI m/m - EUR

• Tuesday 7 January

  • 🇨🇭 CPI m/m - CHF

• Wednesday 8 January 

  • 🇺🇸 ISM Services PMI - USD

  • 🇺🇸 JOLTS Job Openings - USD

  • 🇦🇺 CPI y/y - AUD

• Thursday 9 January

  • 🇺🇸 ADP Non-Farm Employment Change - USD

  • 🇺🇸 Unemployment Claims - USD

  • 🇺🇸 FOMC Meeting Minutes - USD

• Saturday 11 January 

  • 🇨🇦 Employment Change - CAD

  • 🇨🇦 Unemployment Rate - CAD

  • 🇺🇸 Average Hourly Earnings m/m - USD

  • 🇺🇸 Non-Farm Employment Change - USD

  • 🇺🇸 Unemployment Rate - USD

AUD-USD 🇺🇸

Rates have remained at a similar level since 18th December -1.94% drop, currently trading at 0.6213 (10:30PM AEDT)

AUD-GBP 🇬🇧

Seeing a 1.28% climb over the last week the AUD - GBP is currently sitting at 0.5004.

(10:30PM AEDT)

AUD-EUR 🇪🇺

AUD-EUR has had a -0.166% drop since Friday at 0.6035.

(10:30PM AEDT)

AUD-NZD 🇳🇿

Rates have climbed 0.42% to 1.1077 since the this time last week

10:30PM AEDT)

The information contained is general information only and does not consider your personal objectives, financial situation and needs. We strongly recommend that you do not act on any information provided in this website without individual advice from your trusted advisor. You should also obtain a copy of and consider the Product Disclosure Statement for all financial products before making any decision.

The Expatriate always tries to make sure all information is accurate. However, when reading our website, please always consider our Disclaimer policy.