GBPAUD – using a broker – Brief currency summary

GBPAUD rates of exchange have remained fairly flat as we come to the end of the quite period in economic data. This being the end of the month when data is light. Next week with the start opf September this cycle starts again and with it opportunities for buyers and sellers of the AUD.  A majority of the data is released at the end of the week but with data also due from China and the US at the beginning it looks like we have a busy week ahead of us.

On top of that watch out for end of month movement when investors globally re-set their investment levels which normally impacts demand and therefore costs of currency.

Here we offer a pro-active service helping clients move money with an educated decision. Plus with award winning exchange rates you can be sure that you can see a saving using the service on offer otherwise we would simply not be in business.

For more information feel free to contact myself STEVE EAKINS via hse@currencies.co.uk.

happy trading and have a good weekend.

Australian Dollar Strongest since November 2013 (Tom Holian)

Sterling has continued its demise against the Australian Dollar with trading rates just above 1.77 at the time of writing. It appears as though investors have lost confidence in the Pound over the last few weeks in search of higher interest rates which are available down under.

The Chinese economy seems to be going well at the moment which helps to keep the Aussie Dollar strong and we are now the strongest level since November 2013 making it an excellent time to be transferring Australian Dollars back into Sterling.

Over the next week the Bank of England will meet to decide their interest rates. Personally speaking with inflation dropping recently in the UK I think there will be no change for next Thursday and this could keep the Australian Dollar strong against the Pound next week.

Due tomorrow morning is the Australian Private Sector credit for July and I think this could send GBPAUD rates into the 1.76 levels.

If you have a currency transfer to make and want to be kept updated with currency movements or if you have a requirement to buy or sell AUD then contact me directly for a free quote. Tom Holian teh@currencies.co.uk 

 

 

Great Selling Rates For Aussie Dollars (Colm Gilhooly)

With very little UK data out of late, and nothing to knock the recent swagger of the Aussie Dollar, exchange rates for selling AUD are still looking very attractive.  With UK interest rate expectations being put on the back burner due to the recent Bank of England inflation report, and weaker than expected UK data, it has created an excellent opportunity to buy sterling cheaply.  I suspect that over time UK data will recover and interest rates will once again come onto the agenda once again which will likely cause sterling strength (particularly as I suspect Scotland will not vote to leave the Union and once this uncertainty is lifted, sterling should benefit).

Also if the Aussie continues to creep up, I suspect the RBA rhetoric will once again switch to jaw-boning about the strength of the currency to talk it down again.  There is a lot of US data out over the next couple of days which I suspect will be Aussie positive by boosting global confidence, suggesting if you are selling Aussie we are looking at a pretty good window.  If you do need to make a currency transfer and would like to find out more about the great exchange rates we can offer, feel free to email Colm at cmg@currencies.co.uk and I would be happy to explain how our currency exchange service works.

GBPAUD rates this week

GBPAUD rates have remained steady recently this week however I can see this being the calm before the storm.  Generally the AUD has strengthened against the pound over the last 2 weeks however the trend has levelled off recently to around 1.78 from the 1.82 levels seen two weeks ago.  This is down to a number of factors but as this current period is a quiet time with little economic data I expect these levels to hold for the next few days.  The new month starting Monday will bring with it a fresh round of economic data reporting on the production levels of all the area in the economy’s on both sides of the world. This in turn will bring the volatility back to the market and with it give you the potential opportunity to get better levels.

Timing a trade remains ever important to truly get the best price so being informed makes a large difference and this is hopefully why you found this website and find it valuable.

Next week there is a host of data and the largest will probably be at the end of the week when the central banks report. The Bank of England is now unlikely to increase interest levels which were once forecasted for before Christmas. The Reserve bank of Australia continues to be a more difficult bank to follow as the governor continues to change views and forecasts for the market and therefore the value of the AUD.  His last stance was one that levels did not need to change however any deviation to this will fundamentally change forecasts and therefore prices once more.

If you have a trade to make and would like to know more please feel free to get in contact. You can also take full advantage of our rate alerts and Spike notification services on offer by emailing your details to hse@currencies.co.uk

Thank you for reading.

Will Sterling fall against the Australian Dollar? (Tom Holian)

Sterling has continued to fall this week against the Australian Dollar as inflation in the UK showed a fall and more importantly a big difference between wage inflation rates.

Indeed, this weekend Bank of England member Ben Broadbent went on record to say that weak UK pay growth could persist. The BoE have halved their expectations of wage growth to 1.25% which means that there is less likelihood of an interest rate rise in the UK compared to recent expectations.

The Bank of England minutes which came out on Wednesday showed 2 of the 9 members voted for a rate rise from 0.25% to 0.75% but personally speaking I think with the recent negative movements for inflation I think that it will be now sometime before UK interest rates go up.

GBPAUD rates were higher in late July as UK GDP showed strong movements as well as a strong jobs market but the inflation data has really put paid to Sterling’s previous rally.

Sterling Aussie exchange rates have been trading between 1.77-1.78 towards the end of last week and I expect Sterling to continue to struggle owing to the comments made by Broadbent this weekend.

With China the biggest trading partner for Australia any positive or negative data will impact Sterling Australian Dollar exchange rates. On Tuesday early morning we have the release of an economic outlook index and if strong could see further Australian Dollar strength against Sterling during the early part of next week.

If you have a currency transfer to make and would like a free quote please contact me directly by sending an email Tom Holian teh@currencies.co.uk

 

 

 

Great Time To Sell Aussie Dollars (Colm Gilhooly)

With yesterday’s Bank of England Minutes fading already the pound has been sliding again versus the Aussie Dollar, and with very little data out in the next few days and a UK bank holiday on Monday it appears there isn’t much support for the pound against the Aussie at the minute.  My mantra for the last few months has been to buy Aussie over 1.80 and sell Aussie under 1.80 so the current levels look reasonably good to me.

Longer term I am sure the pound will find some traction again as interest rate hikes are obviously going to happen at some point just maybe not so quickly as some analysts expected hence the recent dip in sterling.  If you need to make a currency transfer to or from Australia and want to get the best exchange rate, then feel free to email me, Colm, at cmg@currencies.co.uk and I would be happy to explain how our money exchange service works and what sort of exchange rate you can get through us.

UK retail sales figures this morning could push GBP/AUD below 1.78 (Mike Vaughan)

Sterling once again has been on the back foot against the Australian Dollar this week following the RBA minutes released on Tuesday. In the minutes the bank cited the improved sentiment in Australia and noted the economy is starting to improve.

For me, with the continuing prospect of interest rates rising in the UK (highlighted by yesterday’s Bank of England minutes in which 2 members of the monetary policy committee voted for an interest rate hike) I believe the pound will again find support against the Aussie and would suggest that the current levels (best sell prices in 4 months) represent good value for anyone selling the Australian Dollar.

Looking at the rest of the week and it is a quiet few days for the AUD but look out for the UK’s retail sales figures at 09:30 this morning. Forecast to show a good figure but down on the previous month could mean the pound has a tough time this morning as well.

Should you have a bank to bank money exchange to arrange and you would like more information on the currency service we provide then please contact the office on +44 (0)1494 787478 or email Mike

Australian Dollar Strengthens Again (Tom Holian)

The Bank of England minutes which came out at 930am this morning briefly saw the Pound gain against the Australian Dollar but the movement was short lived. 7 of the 2 members voted to keep interest rates on hold with 2 voting for an interest rate rise to 0.75%.

The Pound has fallen recently against the Australian Dollar following two negative announcements regarding inflation this month. The Quarterly Inflation Report from last week was rather negative and this week’s CPI data showed a fall from 1.9% last month to just 1.6% this month.

The Bank of England would have more pressure piled on them to increase interest rates if inflation was on the rise. However, owing to the fall this means that interest rates may not go up as soon as expected. Indeed, I personally think the minutes would be different had the members known that inflation was falling.

The FOMC minutes are due in just over an hour and this will relate to the US’s monetary policy. As the world’s leading economy this often has an impact on the Australian Dollar as it will determine risk appetite for global investors.

As posted last weekend I think we’ll see further Aussie Dollar strength over the next few days although we might see a small recovery for Sterling tomorrow morning if UK Retail Sales come out strongly.

If you have a currency transfer to make and want to save money on exchange rates then contact me directly for a free quote Tom Holian teh@currencies.co.uk 

 

 

 

Sterling receives a boost against the Australian Dollar following Bank of England minutes (Daniel Wright)

The Pound has made gains against most major currencies this morning following news that two members of the monetary policy committee had voted in favour of an interest rate hike at the last interest rate meeting for the U.K.

MPC members Weale and McCafferty both voted in favour of a hike in rates stating that they felt an early rate rise would facilitate the aim to ensure future rate rises are gradual as planned.

For those of you that are not aware, an interest rate hike generally is seen as positive for the currency concerned and a cut in rates negative, so the fact that we now have members of the Bank of England seemingly in favour of interest rates rising will no doubt help Sterling in the short term.

You must be cautious though as merely a week ago, Governor of the Bank of England Mark Carney actually commented that he wasn’t too happy with the current strength of the Pound at present as it was starting to impact our exports and weighing on economic growth.

If you have a transaction to carry out involving selling Australian Dollars to buy Sterling or indeed buying Australian Dollars with Sterling then it is well worth you getting in contact with me directly and I will be able to help you both in terms of getting award winning exchange rates and a smooth and efficient service.

You can email me (Daniel Wright) directly on djw@currencies.co.uk with a description of what you are looking to do and I will be more than happy to contact you personally.

 

GBP/AUD Levels Drop Ahead of Tomorrow’s BoE Minutes (Matthew Vassallo)

GBP/AUD levels have continued to drop during Tuesday’s trading, moving the currency pair back below 1.79 on the exchange. As discussed in today’s earlier post the Pound has found life tough going today, following worse than expected UK inflation figures. This data stalled the Pound’s momentum from yesterday and the AUD benefitted from it. There was confidence in the AUD overnight following the latest Reserve Bank of Australia (RBA) minutes, which indicated that the Australian economy was seeing a steady improvement, news which should help protect the AUD from any further major losses.

I expect further volatility on the pair over the coming days, with a number of key economic data releases to note. Tomorrow see’s the release of the latest Bank of England (BoE) minutes, which give us a key insight into our central bank’s latest policy meeting. It will be interesting to see whether any of its members voted for an interest hike, considering the mixed messages BoE governor Mark Carney has delivered on the subject of late. With further AUD data out overnight on Wednesday and then UK Retail Sales figures on Thursday, expect further volatility on GBP/AUD before the end of the trading week.

If you have an upcoming currency requirement and 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 directly on mtv@currencies.co.uk