The Australian dollar trended lower through the majority of last week, with the risk-sensitive currency struggling to attract support as a gloomy market mood prevailed through most of the session.
Mixed data releases out of China and Australia also caused some turbulence.
A slump in Chinese retail sales and poor Aussie wage data were offset by hawkish meeting minutes from the Reserve Bank of Australia (RBA) and strong Australian jobs data.
This week, the Australian election results could cause some more tremors in AUD exchange rates.
Additionally, positive predictions for Australia’s retail sales in April could end up boosting the ‘Aussie’.
Joining the corporate trading desk in 2007, Phil now over sees all of Currencies Direct’s corporate dealing activity. Having gained experience working with hundreds of businesses to optimise international payments processes and execute comprehensive risk management strategies, Phil currently works with a portfolio of corporate clients whilst managing Currencies Direct’s overall market exposure
Phil has FCA approval and has completed the Certificate in International Treasury Management (CertiTM)