Buying Australian Dollar rates, as with most of Sterling’s major currency pairings, will face heavy risk next week of potential falls.
The Pound has recovered marginally against most of its currency pairings since the flash crash 13 days ago. With most of the major political announcements expected over the next few months concerning the Brexit having already been released, markets are beginning to re-focus back towards the economic side what makes the currency markets tick.
Given that the main piece of political news this weekend was that there was a row over which language the negotiations over Britains exit from the EU will take place, it’s unlikely we can expect much news of substance in the short-term. This inconsequential, pedantic news wont be affecting anyones plans to buy or sell currency anytime soon.
In normal times, economic performance information for each country normally takes centre stage when governing the value of each currency. With the positive or negative natures of the news normally mirroring a parallel movement in the currency’s value.
The key data sets to watch out for next week for Australian Dollar buyers are:
On Wednesday inflation data for the Australian economy will be released overnight, and is set to show a healthy improvement compared to the concerns a few months ago. A positive result will suggest that the Australian economy is continuing to perform well and will continue to quieten calls for a further interest rate cut. A stronger and more expensive AUD is the natural result should this occur as expected.
On Thursday, the most important data release the UK has seen arguably since the leave vote will be released. Growth figures for quarter three of this year. This is the first full quarter since the Referendum vote, and as such, will be the first opportunity for the UK to gauge how close we are to a recession in its aftermath.
Currently expectations are that we will stave off recession, but growth this quarter will be more than halved down to 0.3%. Should this figure come in any lower, then frankly the Pound could see similar tumbles to the flash crash a couple of weeks before.
Seemingly without any opportunity for the Pound to improve this week, and with plenty of downside risk. Anyone with an Australian Dollar buying requirement in the short term may be wise to consider moving sooner rather than later to avoid facing some painful buying rates towards the end of this month.
You can contact me directly over the weekend whilst markets are closed on email@example.com to discuss a strategy for your transfer to safeguard it from any potential downswings and to maximise your currency return from this current marketplace.
I have never had an issue beating the rates of exchange on offer elsewhere, and these current levels can be fixed in place -essentially pre-booking your currency- for a future transfer.
Australian Dollar sellers can also get in contact with me to discuss how to make the most of the expected movements in your favour within the timeframe you have to complete your transfer. A brief conversation could save you thousands.
You can also fill out the form below and I will be in contact as soon as I am able.
Currency markets have opened this morning with the Pound continuing it’s recent fightback, yet the Aussie Dollar continues to remain a thorn in the Pounds side as it’s one of the only currencies the Pound is down against this morning.
Those looking to convert Aussie Dollars into Pounds are still looking at 3 year highs, and we’re currently seeing the Pound trade below 1.70 as we have been for some time which is quite unusual for the pair.
Whilst the current situation for Aussie Dollar sellers is positive there are a number of issues over in Australia which could affect the currencies value in future, and Aussie Dollar sellers must be aware of this.
There is the chance of another interest rate cut over in Australia, and the property market is at risk of overheating which could impact sentiment towards the currency, so clients must be aware of the potential downsides despite the strong gains so far this year, particularly since the Brexit vote.
If you are planning a currency exchange involving the Pound and Australian Dollar, it’s worth your time getting in contact with me on firstname.lastname@example.org in order to ensure you make a well informed decision on when to make that particular transfer, as well as benefiting from highly competitive exchange rates from one of the UK’s leading foreign currency brokerages. Just provide me with a basic outline of your currency requirement and I will be back in touch with you as soon as possible.
Many with a buying Australian Dollar requirement would have had their hearts in the mouth by midday today, with GBP/AUD on the verge of breaking through 1.58 once more. Frankly over the past few days we have seen jaw-dropping falls which almost immediately recover from bizarre news releases that need to be explained.
Firstly, yesterday most news was focussed towards Canada. A country rarely covered on this website, but as a currency whose value is also heavily linked to the commodity markets such as the Aussie, there are parallels which can be drawn.
The Bank of Canada had their Monetary Policy statement which showed that the people at the helm of the Canadian economy believed they were heading to a slowdown in growth in the near future.
Earlier that morning the value of most commodity currencies had risen due to a strong boost to oil prices. All of a sudden markets were faced with a conundrum that despit oil prices rising the Canadian central bank were expecting slower growth. From the chatter we’ve heard it seemed like markets believed they expected this rally for commodity prices to be shortlived – causing just as an immediate loss in value and cheapening of the Australian Dollar as the gains recorded that morning.
Similarly, today the Pound was subject to a lot of movement due to the European Central Bank Monetary Policy statement.
Initial hints made by Mario Draghi, the head of the European Central Bank, suggested high expectations for Eurozone growth and drew a lot of investor activity away from the Pound and into its closest neighbour. The secondary effect was that the Pound lost value against its other pairings, such as the Australian Dollar.
The reverse then occured when Draghi made heavy hints that their next meeting in December that an extension to their current emergency stimulus package will be announced, causing the Pounds lost value to return, and then some.
This is just another reminder that markets are currently hypersensitive and opportunities emerge quickly to then dissapear. In this current market a premium is put on being able to move quickly should any opportunities emerge.
I offer a very proactive service to my customers to ensure you are not ‘last to the party’ should any opportunties emerge. I have never had an issue beating the rates of exchange on offer elsewhere, and these current buying levels can be fixed in place for anyone planning a foreign currency transfer later in the year, whether buying or selling Australian Dollars, and wish to eliminate risk entirely.
You can contact me overnight whilst markets are quiet on email@example.com or reach me on the form below and I will reply as soon as I am able.
The Australian Dollar has been buoyed this week as Chinese GDP figures impressed and the case for an interest rate cut in the short term future is looking unlikely.
This positive news for the Australian Dollar has coincided with the added pressure on the Pounds value, and only now are we beginning to see signs that the Pound will attempt to stage a comeback as the currency had been falling almost daily for a couple of weeks now.
It appears that the GBP/AUD pair have some support at the 1.60 level although yesterday we did see the pair dip below this level for a short while, so those with a currency requirement involving the Pound and Aussie should be aware that the 1.60 level isn’t the strongest of support levels, and further downside is a possibility for the Pound.
With that being said, Westpac recently offered their own price forecast for the Sterling to Aussie Dollar pair and they expect it to remain around 1.60. If we’re to see the Pound stop falling and now become range bound, the timing of currency conversions suddenly become all the more important as a 1 cent difference can make a difference of 1000’s of Pounds/Dollars when converting large amounts of money.
This is where our service can be of use to clients as we help them with timings as well as offering award winning exchange rates.
If you are planning a currency exchange between GBP and AUD, it’s worth your time getting in contact with me on firstname.lastname@example.org in order to ensure you make a well informed decision on when to make that particular transfer, as well as benefiting from highly competitive exchange rates from one of the UK’s leading foreign currency brokerages. Just provide me with a basic outline of your currency requirement and I will be back in touch with you as soon as possible.
Sterling vs the Australian Dollar has now fallen below 1.60 and even at the time of writing broken into the 1.58 levels as Chinese Retail Sales data has come out stronger than expected.
As China is Australia’s largest trading partner any positive news coming out from the world’s second largest economy often helps to strengthen the Australian Dollar and as predicted in my previous article I think we could see further Australian Dollar strength vs the Pound.
Since the announcement that Article 50 will be triggered in March the uncertain period that we’re currently in has caused a huge loss of confidence in Sterling and one of the main reasons why we’re still seeing the Pound under such pressure.
Indeed, even with UK inflation coming out better than expected this has helped the Pound to increase against all other major currencies but no positive movement against the Australian Dollar.
Australian unemployment data is due out tomorrow and recently the figures have come out relatively strong and any further positive data could see further strength for the Australian Dollar.
With a very uncertain future ahead for the Pound I think we could see further losses for GBPAUD rates so if you need to buy your Australian Dollars before the end of the year it may be worth looking at buying a forward contract which allows you to fix an exchange rate for a future date.
Having worked in the foreign exchange industry since 2003 I am confident of being able to offer you better exchange rates than using your bank and also to help you with the timings of your transfer.
If you would like further information or for a free quote when buying or selling Australian Dollars then contact me directly and I look forward to hearing from you.
Tom Holian email@example.com
Alternatively fill in the form below
The Australian Dollar has been rising in value consistently and is causing a problem for the Reserve Bank of Australia (RBA). The new governor of the RBA, Philip Lowe recently made it clear that interest rate cuts were off the cards for the time being, interest rate cuts are the best method at weakening a currency. Current data shows the Australian economy is currently looking strong.
The housing market is booming with people attracted to areas offering high wages such as Melbourne and Sydney. An interest rate cut would act as a catalyst to the emerging housing bubble conundrum.
Australia requires a weaker currency to keep the price of it’s raw materials down in order to continue their appeal to their biggest importer, China. The RBA seem reluctant to make any monetary policy changes to weaken the Aussie, especially considering the last rate cut had little impact on Australian Dollar value.
Add into the equation the small matter of Brexit and the pound could have further room to fall. The market never moves in one direction however and there will be opportunities to but AUD short term although they will be difficult to take advantage of.
What could cause movement on GBP/AUD short term?
Keep an eye on Australian unemployment data coming in through the early hours of Thursday. If data comes in against the grain we could see an opportunity for Aussie buyers.
UK Retail sales are in at 09.30am tomorrow and could well cause swings as these will be a key indicator as to the health of the UK economy following the vote to leave the EU.
Theresa May will also be speaking at the European summit tomorrow and Friday where she will be grilled on her EU exit strategy which could cause major volatility for the pound.
If you have a currency rtrade it is crucial to be in touch with an experienced broker. The timing of your trade is vital , If you have an experienced broker on board he/she can keep you up to date with what is happening in the market to help you make an informed decision. If you would like me to assist with your trade I will be happy to help you personally. If you inform me of the the currency pair you are trading, volume and time scale and I will provide a free trading strategy to suit your needs. I work for one of the top brokerages in the country and as such I am in a position to better virtually every competitors rate of exchange. You would also be looking at saving anything up to 4% in comparison to high street banks. Please do get in touch by contacting me at firstname.lastname@example.org. Thank you for reading my blog.
Overnight the Reserve Bank of Australia released their latest minutes and as I expected they had a fairly bullish tone. New Governor Philip Lowe when appointed two months ago insisted that cutting interest rates could have a detrimental impact on an already trouble housing market and the minutes seem to reinforce that an interest rate cut is unlikely this year.
The major talking point for the UK has been the Brexit and Sterling has dropped a remarkable 36 cents against the Australian dollar since the UK public decided to vote out on June 23rd. With UK Prime Minister Theresa May announcing Article 50 will be invoked in March I expect sterling the pound to remain under pressure until then.
Thursday morning Australia are set to release their latest Unemployment rate and Employment change numbers. Unemployment is set to rise however Employment change numbers are set to improve. There is a good chance the data releases will counteract one another however expect a volatile morning trading period.
For the time being I expect GBPAUD exchange rates to remain in the lower 1.60s and higher 1.50s. However overtime I wouldn’t be surprised to see rates fall to the lower 1.50 by the end of the year.
Many of our competitors use online trading platforms for their clients and I have the ability to improve on the exchange rates offered. The currency company I work for enables me to be able to negotiate in a live market to achieve clients better rates of exchange.
If you are needing to buy or sell Australian Dollars I would recommend emailing me with your requirement and timescales and I will respond with your options email@example.com. Alternatively if you would like to discuss your requirements over the phone call 01494-787478 and ask to be put through to Dayle Littlejohn.
The RBA minutes released from their recent interest rate decision have led to a boost in Australian Dollar exchange rates against most major currencies. New man in charge Lowe appeared to be a little more positive about how the economy was performing then the former Governor Glenn Stevens had been lately and it does now appear that a rate cut in Australia may be off of the cards for the short term.
Fairly positive growth figures and a slight rise in commodity prices seen coming up are two of the factors that appear to be influencing this decision and Australia also appears to have a very similar problem to New Zealand with the issue that house prices are just getting higher and higher so any cut in interest rates would only end up adding to that problem.
An interest rate cut would make it cheaper to get a mortgage and with that in mind you would end up with more people interested in buying property which inevitably would push prices up higher.
An interest rate cut is generally seen as negative for a currency as it makes it less attractive to investors so the fact that a rate cut has seemingly been delayed now for the short term has given the Australian Dollar the boost that we have seen in the past few hours.
There is still plenty of economic data out this week from China and a big release from the European Central Bank so the market still has a lot to feed off of this week so be sure to keep checking back here at Australian Dollar Forecast for the very latest news.
If you enjoy our currency market updates and you actually have a currency exchange to carry out then it would be well worth getting in contact with me personally. I have helped clients buying or selling property overseas, emigrating or having to send money for their company for nearly ten years and I created this site 5 years ago to help people like you make an informed decision.
You can email me (Daniel Wright) on firstname.lastname@example.org directly with a description of what you need to do and I will be more than happy to call you personally to help tailor a plan of action with you to suit your needs.
GBP/AUD rates have slipped below 1.60 on the exchange, providing AUD sellers with some of the best rates they’ve seen in over three years. This has led to many clients looking to protect the gains they’ve made ahead of a key week in terms of economic data releases, for both the UK and Australia.
One of the most important data releases come overnight, in the form of the latest Reserve Bank of Australia (RBA) minutes. These minutes give us a key insight into the central bank’s current thinking, along with indications of future growth forecasts for the Australian economy. This means that any indication of future growth, or a downturn below the current expected levels could have a big impact on AUD exchange rates tomorrow.
Any downturn would inadvertently boost the Pound’s value, despite a lack of confidence in the UK economy and ultimately the Pound. On the flip side a positive outlook would more than likely further boost the AUD’s value and continue the recent trend on the pair, with a move towards 1.55 not out of the question based on Sterling’s recent demise.
We also have a host of inflation data out for the UK tomorrow and with inflation levels a cause of concern for much of the year, this again is going to prove key for investors and the short-term outlook on GBP/AUD exchange rates.
We also need to be aware of the Mid-Year Economic & Fiscal Outlook report overnight on Wednesday, which will once again provide key insights into the current economic climate in Australia. In fact, Thursday morning could prove to offer fantastic buying or selling opportunities with Chinese (Australia’s largest trade partner) releasing their latest Retail Sales and Gross Domestic Product (GDP) figures. These will be followed by the official UK Unemployment rate (expected to remain unchanged at 4.9%), which again is considered one of the month’s key releases by investors.
Further ahead and we have Australia’s Unemployment rate and one of their largest banks’ (NAB) latest business confidence figures on Thursday, along with UK Retail Sales figures.
With so much data and the knock on effect this could have on GBP/AUD rates, I expect increased market volatility and as such if you have an upcoming GBP or AUD currency requirement the current levels are a stark reminder as to how important it is to be kept up to speed with key market movements, ahead of any prospective currency exchange. The currency markets can move aggressively and without prior warning and this is where a proactive broker can help you time your trades and maximise your currency transfers.
If you would like to be kept up to date with all the latest market movements, or simply wish to compare our award winning exchange rates with your current provider, then please feel free to contact me on 0044 1494 787 478 and ask one of the team for Matt. Alternatively, I can be emailed directly on email@example.com