Australian Dollars – Best Exchange Rates!
This mornings trading session has seen Sterling gain against the Australian Dollar by nearly 2 cents. On a purchase of AUD $200,000 this would save you nearly £1,500!!
The primary reason for this shift is located just over the Tasman Sea, as New Zealand GDP was reported as a reduced figure of 0.3% (against a target of 0.6%). As the New Zealand economy is very similar to the Australian economy (commodity based), the Australian economy suffers. We have also seen the South African Rand weaken this morning, another egg in the same basket!
I believe that moving forward the next point of resistance will be in the 1.70 region, so Aussie Dollar sellers may want to get their Sterling bought sooner rather than later!
I work for a market leading Foreign Exchange specialist, winners of ‘Best Exchange Rates’ from The Times. Should you have a transaction to discuss, please call me on 01494 787 478 or email AJB@currencies.co.uk.
Andrew Bromley
Australian Dollar to Fall Further?
In the fallout of yesterdays RBA (Reserve Bank of Australia) minutes, todays trading has seen continued strength for AUD buyers. Todays trading seen a day high of 1.6579, an increase of just over 1 cent from yesterdays day high. This is very similar to the trend that we saw through May, a growth of between 0.5 to 1 cent per day.
US Dollar to Impact Aussie
Tomorrow the Federal Reserve of the USA meet to discuss their monetary policy. There are a lot of murmurings of further Quantitative Easing to stimulate the US economy and take control of US inflation. With this in mind, there is a strong chance that the US Dollar could weaken. Should the US economy start weakening, it could take other economies with it, I.e Australia.
I believe that the next few weeks will see further Aussie Dollar weakness, with the next resistance point at 1.7050. As per my previous posts, I believe Aussie Dollar sellers would do well to sell their positions sooner rather than later, as we are still at historically excellent levels for AUD to GBP. On the flipside, Aussie Dollar purchasers may look to but at the 1.70 region as a target. Should you have a position to buy, please feel free to contact me and I can discuss this option with you.
Thank you for reading…
Andrew Bromley
01494 787 478
Reserve Bank hints at further cuts, AUD exchange rates fall as a result (Mike Vaughan)
The Reserve Bank of Australia gave clear indication of further rates cuts as it pointed to a falling currency in order to improve its balance of trade. Although the dollar has weakened significiantly in the past 8 weeks (nearly 20 cents against Sterling) historically the dollar is still strong and these comments suggest there is potential for further movement in the weeks and months to come. The RBA also cited concerns towardst he non-mining sector as an area that is not attractinng the foreign investment required to help drive the economy, a weakening of the dollar further may give a boost to foreign investment into the non-mining sector. As a result I would watch for at least one more rate cut within the next 3-6 months and would expect a drive for GBP/AUD towards 1.67/68. Anyone sellung AUD may wish to look at their positions and consider the use of a forward contract should the funds not be fully available.
Anyone with a short term position watch out for the Bank of England minutes released tomorrow morning, any hints towards further Quantitative Easing and we could some short term sterling losses tomorrow – sellers may look to watch for a potential opportunity at 09:30 BST.
To discuss the market conditions in more detail or should you have a transaction to arrange then please do not hesitate to contact me. As a specialist foreign exchange broker we have a number of contracts available to help clients avoid unwanted market volatility removing your exposure to any adverse market movement. If you woudl like to see what we can do for you and the potential savings we can make then contact the office on +44 (0)1494 725353 or email mgv@currencies.co.uk
Best Rates of Exchange GBP AUD
Today saw trading between 1.6233 and 1.6404, a range of just under 2 cents! If you are considering selling Australian Dollars, I would really look to assess your position sooner rather than later as the rates have moved into your favour!
There is a strong chance that the recent resurgence from AUD is linked to the weakening of the USD. The Federal Reserve meet next Wednesday and a wide opinion is that the markets have priced US Quantitative Easing in to recent trading.
Feel free to get in contact if you have Australian Dollars to sell that you are unsure timing correctly. It is also worth dropping me a line should you not have the Dollars available yet, as there are options available to you. Depending on your AUD situation, you may be able to fix your rate of exchange and avoid any further unfavourable market movements – a distinct possibility!!
Drop me a line on the trading floor to have a chat!
Andrew Bromley
01494 787 478
Australian Dollar Strengthens (Tom Holian)
After a couple of weeks of almost daily rises for GBPAUD exchange rates we have seen a fall back from the recent highs to a trading range between 1.63-1.65. US Retail Sales came in better than expected which helped inspire global confidence again and see investors look towards riskier currencies including the Australian Dollar. Personally, I feel this is a short term move for the AUD and would expect to see further rises for Sterling next week depending on the news from both the UK and the Eurozone tomorrow morning.
More importantly for GBPAUD exchange rates is the prediction made by the World Bank which has cut China’s growth forecast for 2013 from 8.4% to 7.7%. The recent signs of a slowdown in China has been one of the catalysts for recent Australian Dollar weakness and if things continue expect further gains for Sterling.
If you have a currency requirement and want to get in touch for a live quote feel free to contact me directly Tom Holian teh@currencies.co.uk With ten years experience in the industry I am confident that I can save you money when transferring currency compared to using your bank or currency broker.
Where now for the Australian Dollar? Get the best exchange rates for your AUD
When the legendary fund managers and notorious currency gurus Stanley Druckenmiller and George Soros said the Australian Dollar was massively overvalued and could see a huge correction they certainly were not wrong. Over the course of the last month alone the pound has gained 8%, the Euro 8.9% and the USD 6.4% and there is little sign of it stopping!
With the prospect of the US winding down its quantitative easing progromme (the FED meet next week and will officially confirm this) the prospect of direct foreign investment to Australia becomes less likely, and this combined with continuing concerns that the mining boom in Australia is faltering, largely due to falling GDP and growth forecast for China, the prospects for the Aussie are still looking relatively bleak. For anyone looking at selling AUD, historically the rates are still very favourable and you it might well be the time to strike before the AUD has chance to fall further.
Should you have an upcoming money exchange to arrange and you would like more information on the currency service we provide please contact the office on 01494 787478 or email me (Mike) at mgv@currencies.co.uk
3 year high Sterling Australian Dollar Exchange Rates
The current rally is still continuing for Sterling against the Australian Dollar which has seen GBPAUD exchange rates hit the highest level seen in now three years providing some excellent buying opportunities. As problems mount in the Eurozone investors have flocked towards safe havens such as Sterling and riskier currencies including the Aussie have seen a massive sell off of late. Tomorrow’s confidence surveys in Australia willmake interesting reading so if you’re considering making a currency transfer email me directly. Tom Holian teh@currencies.co.uk
Sterling has rallied against AUD,NZD ZAR with rate hitting 1.66+, 2+ and 16+respectively, the highest levels for Sterling in quite some time.
To make sure you are saving money when transferring Australian Dollars feel free to email me directly. With ten years experience in the fx industry I am confident that I can offer more competitive exchange rates than your bank or currency broker. Tom Holian teh@currencies.co.uk
Yet More Aussie Weakness! Achieving The Best Exchange Rates
Today’s GBP-AUD trading peaked at 1.6675, hitting a 3 year high.
It is a trend that has driven most AUD buyers to trade at favourable rates, having budgeted their purchases at 1.50!
We are also seeing AUD sellers selling their positions, even if their Dollars are still tied up. Please find my details below if you are in a similar situation.
Tomorrow morning (01:00 GMT) sees the Westpac consumer confidence report, detailing the sentiment of individuals towards their families finances. There is also the Consumer Inflation Expectation, an inflation prediction. Both data sets tend to add volatility to GBP AUD so worth watching out for!
Feel free to get in contact if you have Australian Dollars to sell that you are unsure timing correctly. It is also worth dropping me a line should you not have the Dollars available yet, as there are options available to you. Depending on your AUD situation, you may be able to fix your rate of exchange and avoid any further unfavourable market movements – a distinct possibility!!
Drop me a line on the trading floor to have a chat!
Andrew Bromley
GBPAUD Exchange Rate hits 1.65 (Tom Holian)
Today Sterling AUD exchange rates have hit 1.65 as markets continue to tumble down under. Chinese economic data was weaker than expected which has had a negative impact for the Aussie. On Saturday Chinese trade figures showed that imports fell by 0.3% last month compared to twelve months ago. The results were below forecast which led to the negative reaction. Exports were due to come out at a 7.4% increase in May but actually came out at 1%. The forecast for Chinese GDP has also been downgraded from 7.8% to 7.6% by ANZ.
Other analysts are not expecting any intervention by the Chinese so if the economy continues to falter we could see further weakening for the Australian Dollar so if you’re looking to sell Australian Dollars you may wish to consider moving sooner rather than later. Tomorrow morning we see the release of the National Bank of Australia’s Business Confidence survey for May so any movement lower than minus two could result in further AUD weakening. Personally, I think we’ll see a poor figure which could move GBPAUD exchange rates in an upwards direction breaking through 1.65+.
If you have a currency requirement to make and want to ensure you’re receiving competitive exchange rates feel free to contact me directly Tom Holian teh@currencies.co.uk and I’m confident I can be of assistance to you. With ten years experience hopefully I can provide you with the information to make an informed decision as and when to buy or sell Australian Dollars.
