Rates on hold but Aussie remains in shark infested waters!

I spent some time in Australia 15 years ago and took it upon myself to go swimming at the infamous Bondi Beach! I saw the surfers far out at sea on the big waves and being a young naive Englishman decided to swim out with my good friend. Well before we knew it we were being washed out by the rip tide and with the waves as big as houses were soon panicking!

I somehow managed to swim back in but for a few minutes the situation was very scary and it was very difficult to see a way back. This story perfectly illustrates the way the Australian currency has been performing lately, it is in a rather sticky situation and it is difficult to see a way back.

Last night the RBA (Reserve Bank Australia) looked to keep rates on hold and avoided talking down the Aussie which loosely helped it hold on to some ground but with Greek uncertainty persisting and the UK performing well the GBPAUD rate looks likely to be headed in one direction only! If you need to sell Australian dollars I would be urgently planning some form of exit strategy to remove the risk of the situation deteriorating even further. For more information at no cost or obligation please contact me Jonathan on jmw@currencies.co.uk

I am here to assist in the planning and execution of any currency transfers that you need to make.

Greece votes ‘NO’ on terms offered for a bailout (Joshua Privett)

2.08 reached on the markets briefly!

Sterling has strengthened across the board this morning. The amount of capital flying into safer currencies such as the Pound instead of the Euro, due to the increased potential of a ‘Grexit’, is staggering. This is causing GBP/AUD rates to artificially inflate in the short term.

We are trading very close to 7 year highs against the Australian Dollar, as a result of poor economic performance in Australia as a result of low commodity prices. This recent influx of capital to bolster GBP/AUD in the short term is a gift that should be jumped on.

When rates are this high they become too tempting for many to ignore, as such people buy AUD months in advance of when they will need their funds, which collectively drives up the value of AUD through demand. So the lesson here is to be the first through the door, otherwise your transfer will become increasingly more expensive.

I have family in Melbourne who bought their AUD this morning on my advice, and I would encourage anyone else to do the same. As mentioned above, these current rates can be pegged for up to 12 months so that you are not left exposed to further market volatility, and you can budget more effectively. Contact me on jjp@currencies.co.uk for more details. Or call 01494 787 478 and ask for Joshua.

6 year high for buying Australian Dollars with Sterling (Tom Holian)

Sterling vs Australian Dollar exchange rates have hit the best exchange rate to buy AUD for 6 years on Friday as the Australian Dollar seemingly went into free fall.

Big worries still concern global investors about the Greek referendum due to take place tomorrow with the Greeks voting for a yes or no.

The problem for the Aussie Dollar is that owing to its reliance on commodity prices any global uncertainty often leads to a fall in the value of commodities and hence the fall for the Australian Dollar.

Rates went into the 2.08 levels for a brief period on Friday afternoon’s trading session and 2.10 could be hit early next week so if you have a transfer to make then keep a close watch out for the movements over the next few days.

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

 

 

GBPAUD soars!!!

GBPAUD has rocketed today as uncertainty over the Greek situation rises steadily! Who is to say what will happen but I think if the Greeks votes Yes the AUD will strengthen, if they vote NO the AUD will weaken yet further. Is this a risk you want to take? I would personally not advocate taking on such risk in such uncertain times. If you need to buy or sell the Australian dollar it is worth being aware of all your options well in advance!

For more information please speak to me on jmw@currencies.co.uk

GBP/AUD 6yr High! (Daniel Johnson)

The RBA are committed to keeping  the AUD weak to keep the Chinese on board for raw materials. So I don’t have much hope for AUD sellers as growth figures for China are not looking good and I do not have a lot of faith in there credibility anyway. I do not expect any significant movement in the coming weeks, but buying at a 6yr high is not to be taken for granted. If I had a Sterling to AUD trade to make I would be getting it done, I would always vote for the safe bet over speculation. Over the years I have seen countless clients hang on trying to get that extra cent and then lose out when there is a sudden unpredictable trough. I have several large GBP/AUD trades going through in the coming days which potentially I can tag new clients on to and achieve a very competitive rate of exchange, don’t hesitate to get in touch.

Thank you for reading today’s Blog, I would greatly appreciate any feedback you have and would take pleasure in replying personally. I am more than than happy to assist you with any of your currency requirements. Feel free to e-mail me at dcj@currencies.co.uk or call on 01494 787 478 and ask for Daniel Johnson.

 

 

GBP/AUD drops below 2.04 (Joshua Privett)

Losing almost a full cent during today’s trading, without any poor data or political events in the UK or Australia to explain it, it seems that the recent highs Australian Dollar buyers were enjoying were purely artificial.

The amount of capital flying into the Pound to escape the uncertainty surrounding the Eurozone at the moment is staggering. Sterling has increased in value against all major currencies as a result. However, when such movements are not due to positive economic improvements or due to the opposite in Australia, these can never be sustainable. Essentially these rates are a short-term reflection of market psychology, rather than showing us cold hard facts about the strengths of the relative economies.

Today we have already seen a more consiliatory Greek delegation – offering new terms to bring back some much-needed liquidity to the Greek economy. As such some of the less nervous investors are already returning to Europe, embarassed with their overreaction. This has deflated the value of Sterling across the board today, which is why 2.03 is visable on the markets once again. As we get closer to a resolution, I fully expect the rates to continue in this direction.

Anyone who has an AUD requirement over the next few months should seriously consider their current position. If any solid and long-term agreement is reached with Greece, it is unlikely Sterling will have the momentum to reach this high in GBP/EUR rates again. These rates can be pegged at no additional costs for up to 12 months, so you can budget more effectively and not lose out on these current rates by waiting. Email me on jjp@currencies.co.uk overnight for more details.

 

Have GBP/AUD Rates Hit Their Peak? (Matthew Vassallo)

It’s been a volatile few weeks for GBP/AUD exchange rates, with the pair hitting a fresh 6 year high last week. However, as often happens when there is an aggressive spike in the market we have seen a realignment, with the pair moving back following market support for the AUD. With the pair still trading above 2 it may be that we have seen Sterling hit a peak and an improvement in Chinese data and growth forecasts last week may have been the catalyst for this spike. The links between China and Australia have been discussed heavily in previous reports but due to their trade links and improvement in China’s economy usually has a positive knock on effect for the AUD.

This spike could continue as we head towards the end of the trading week, with Australian Retail Sales figures release overnight on Thursday expected to show an improvement on previous figures at 0.5%. If this prediction turns out to be correct then it is likely the AUD will gain further support and could make a move back towards 2. Therefore I would not be gambling on such a volatile market and would look to take advantage of current levels whilst they remain above this threshold.

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 you current provider, then please feel free to contact me directly on mtv@currencies.co.uk

Sterling vs Australian Dollar Exchange Rates Nervous on Greek Debt Repayment (Tom Holian)

With just a few hours to go before the Greek debt to the IMF of EUR1.6bn is due to be repaid we are now running out of time.

As I write I don’t think there will be a last ditch attempt and the Greeks will default on the payment due today.

However, this comes as little surprise to the markets as it has been priced in already.

Sterling vs Australian Dollar is still trading above 2 and providing excellent opportunities to buy Australian Dollars with Sterling.

The next potential movement could come in the form of US non-farm payroll data and if positive this could see the Australian Dollar strengthen against the Pound on Thursday afternoon.

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

 

 

 

6 year high for buying Australian Dollars (Tom Holian)

Sterling vs Australian Dollar exchange rates have this week hit fresh 6 year highs as the uncertainty surrounding Greece continues.

Global investors have recently sold off riskier and commodity based currencies such as the AUD, NZD & ZAR over the last few weeks as the global economy awaits the impact of the Greek deadline due on Tuesday when they have to repay the IMF EUR1.6bn.

The amount is not the real problem but the issue is that the Greeks are being asked to increase spending cuts and change their pensions.

The Syriza party who came in a few months ago were billed as an anti-austerity party but they appear to be running out of time in order to get the debt repaid.

There is a Eurozone meeting taking place today with various finance ministers and this could see even more increases for Sterling vs the Aussie Dollar if the talks do not reach a positive conclusion.

Growth in Australia has slowed recently to 2.3% and investment by companies has been falling recently.

This weak data is likely to start putting pressure on the RBA to cut interest rates but with the Sydney & Melbourne property boom almost out of control any rate cuts could send property prices even higher resulting in a boom/bust effect.

All this uncertainty is likely to push GBPAUD rates higher next week.

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

 

 

 

A quiet week of movement for GBP/AUD exchange rates – important speech today to look out for (Daniel Wright)

With the markets still poised and waiting on any movements of a deal with Greece and minimal economic data we have seen very little movement in the rates this week.

Later on today we have Governor of the Bank of England speaking at the ‘inclusive capitalism’ conference and i’m sure investors and speculators alike will be looking for any hints as to how he plans to deal with the economy in the coming weeks and months.

We have recently broken through and now stayed above the key resistance level of 2 (as predicted on this site a number of times this year) and I feel that there is now every chance we may see rates push on to the next level in the coming weeks.

I don’t expect a huge movement however a level of 2.10 would not be totally out of the question in the next month or so.

If you have currency to exchange in the coming days, weeks or months and you would like to get an award winning rate of exchange for it then it may be prudent to contact me directly. I have had thousands of clients contact me that already use well known brokerages in the U.K and Australia that have found to save money through using us. The company all of the writers on this site work for turns over half a billion Pounds of currency per year and we would be happy to add you to that. Email me (Daniel Wright) for a free, no obligation quote on djw@currencies.co.uk and I will be more than happy to contact you personally.