Daily Archives: March 13, 2018

Pound Australian Dollar Rates and could we see 1.80? (Tom Holian)

As predicted in my recent article over the weekend I think we could see GBPAUD exchange rates challenge 1.80 during the course of this month as Sterling has made some steady gains vs the Australian Dollar in recent weeks.

In the Spring Statement delivered by Chancellor Philip Hammond he was relativity positive about the the British economy and has predicted falling inflation, less borrowing and has also upgraded projections for UK growth.

This has been taken by the market very well and this has seen Sterling increase vs the Australian Dollar during this afternoon hitting 1.7750 at the time of writing.

Good news if you’re considering buying Australian Dollars with Sterling at the moment.

The Chancellor has forecast that growth this year would hit 1.5% which is just above the target set by the Office for Budget Responsibility back in November.

Turning the focus back towards what is happening with the Australian economy at the moment tonight we see the latest release for the Westpac Consumer Confidence survey.

This has been falling recently so another pessimistic release could pile further pressure on the Australian Dollar.

Combine this with tonight’s Chinese Retail Sales data as well as Chinese Industrial Production data this could cause a lot of movement for GBPAUD exchange rates so make sure you’re prepared for a lot of movement early tomorrow morning.

Things seem to be slowly improving for the British economy and today’s Spring Statement has also supported this view which is why I think we could see the Pound hit 1.80 vs the Australian Dollar before the end of this month.

If you are in the process of either buying or selling Australian Dollar at the moment and would like further information or a free quote then contact e directly and I look forward to hearing from you. Having worked for one of the UK’s leading currency brokers for 15 years I am confident of being able to offer you better exchange rates as well as helping you with the timing of your transfer.

Email me directly with a brief explanation of your requirement and I look forward to hearing from you

Tom Holian teh@currencies.co.uk


AUD Forecast – AUD Benefits From Poor US Wage Growth Report (Matthew Vassallo)

The AUD has found some welcome support over the past few days, making gains against a host of the major currencies.

GBP/AUD have moved back below 1.77, whilst the AUD found support against both the EUR & USD.

This positive spike can most likely be attributed to the weak US wage growth report, which cast doubt over whether the US Fed would raise interest rates at their next policy meeting on March 21st.

Up until his report the US economy had seemingly been on a constant upward curve, which h meant investors started to factor in multiple interest rate hikes this year. On top of this President Donald Trump’s current ‘trade wars’, where is he looking to heavily tax any imported steel or aluminium products, has also put pressure on the USD, which in turn has helped to boost the AUD.

With investors moving their funds away from the USD over the past couple of days, the AUD has been one of the main benefactors, with hoping to take advantage of higher yielding interest and greater profit.

However, this trend may not last should the FED decide to hike rates later this month, so it may be prudent to take advantage of the current spike, for any clients with upcoming AUD currency exchanges to execute.

Looking at GBP/AUD rates and the AUD has found plenty of support around the current levels. However, despite this week’s improvements it has yet to make a substantial move back towards 1.75.

With Brexit concerns still handicapping any major advances for the Pound, it is likely GBP/AUD rates will continue to remain fairly range bound over the coming days.

If you have an upcoming AUD currency transfer to make, you can contact me directly on 01494 787 478. We can help guide you through this turbulent market and as a company we have over eighteen years’ experience, in helping our clients achieve the very best exchange rates on any given market.

Our award inning rates can be accessed very easily over the phone and I can keep you posted with key market developments ahead of any prospective exchange you need to make.

Feel free to email me directly on mtv@currencies.co.uk to find out all the options available to you ahead of your currency transfer.