Sterling Australian Dollar exchange rates could be in for a very volatile next 24 hours as we wait to see what will happen with Australian GDP due out tomorrow morning. The year on year expectation is due for 3% so anything different could see large movements for the currency pair.
RBA governor Glenn Stevens will speak shortly afterwards and I think the main focus will be on the GDP release as well as further insight into how monetary policy may be affected.
Stevens has recently suggested that the Australian Dollar is perhaps a little too strong so I think we could see a negative move for the Aussie Dollar during the speech.
Looking back to the UK we have our own release of UK PMI data focusing on the services sector which as of late has been very good. If the figures are better than the expected 58.5 I think we could see Sterling strengthen against the Australian Dollar in the morning.
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 firstname.lastname@example.org
Australian Dollar still overvalued and interest rates to remain steady – Australian interest rate decision leads to mild AUD weakness (Daniel Wright)
The Australian Dollar weakened a little overnight following comments from RBA Governor Stevens that he still felt that the Australian Dollar was a little overvalued and that interest rates would remain steady for a period of time.
Over the past year or so, Stevens appears to have changed his mind about the Australian Dollars strength more than the England cricket team change their bowlers.
The mere comments last night have pushed the rate a little in the favour of anyone looking to buy Australian Dollars and may now weigh a little on the strength of the Australian Dollar in the short term.
I can assist you if you are in the position where you need to either buy or sell Australian Dollars both in terms of providing you an exchange rate that is better than the banks and indeed other brokerages and offering you an extremely proactive service.
The company I work for has won lots of awards for our rates of exchange and even a small difference on the rate you achieve can make a large difference to the money you receive for your transaction.
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Australian Dollar exchange rates have recently hit their strongest level against Sterling since November 2013 as business down under continues to thrive whilst Europe appears to be slowing down.
Global investors have been searching for higher yields and with Australia’s interest rate currently standing at 2.5% this is why we’ve seen a gradual strengthening over the last few months.
Tomorrow morning sees the release of the RBA interest rate decision so any change or hint of a rate rise could see GBPAUD fall even further. Chinese services sector data is due out on Wednesday which if better that the expected 54.2 we could see further Australian Dollar strength against Sterling. Shortly after this we see the release of Australian GDP which is arguably the most important announcement of the month. With Australia growing at a rate of 3% this could make good reading.
If you’re thinking about taking advantage of these levels and want to save money on exchange rates compared to using your British or Australian bank then feel free to contact me directly for a free quote Tom Holian firstname.lastname@example.org
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 email@example.com
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 firstname.lastname@example.org and I would be happy to explain how our currency exchange service works.
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 email@example.com
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 firstname.lastname@example.org and I would be happy to explain how our money exchange service works and what sort of exchange rate you can get through us.
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.
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