Tag Archives: AUD/EUR
The Australian Dollar has taken a tumble against a host of major currencies including the USD, GBP & EUR by around 0.6% against all of them. Unemployment down under unexpectedly rose in August and the currency
was weighed down by a gloomier outlook for the economy.
The Aussie Dollar had strengthened quite significantly after it was boosted by strong Chinese data and a new government was put in place but the losses have started again. Next week the RBA will release their minutes to their latest interest rate decision and it will be interesting to see if the RBA are happy with the losses for the Dollar by talking the currency down further. They seem to be keen on watching the AUD continue to weaken to boost their exports.
If you have any questions or queries regarding an up and coming currency transfer that you need to make over the coming weeks or months then please feel free to contact me at email@example.com I offer my clients a very personal service on their currency exchange while the rates of exchange are significantly better than the banks in the UK, US, Euro zone and Australia.
Thank you for reading
Anyone looking at the Aussie should keep a close eye on the Reserve Bank of Australia minutes scheduled for realease overnight. This will give insight as to what policies the bank could have in store over the course of the next couple of months. Most analysts expect the RBA to cut interest rates sometime within the next 2/3 months and these minutes may go someway to conform these rumours. Any indication and hints towards a ratre cut then I would look for GBP/AUD to shift towrads 1.68 and EUR/AUD towards 1.45. Should the tone of the minutes give little insights as to the next move by the RBA then I would expect GBP/AUD to test 1.65 amd EUR/AUD 1.42.
As with the RBA, the Bank of England minutes on Wednesday should also be focused on. These being the first minutes under new governor Mark Carney. What the market will look for here will be clues as to future QE. Personally I think the split of the 9 members of the committee is likley to have been 6-3 in favour of keeping QE on hold, however a shift towwards 5-4 and watch for GBP losses on Wednesday morning.
Should you have an upcoming exchange to arrange and you would like to discuss the market conditions in more detail then please do not hesitate to get in touch. As you can see the next few days could prove very interesting and I would expect the current market volaitility to continue. Should you wish to avoid this uncretainty and you would like a quote for your upcoming exchange then please call the office on + (0)1494 725353 or email firstname.lastname@example.org and I will gladly be of assistance.
Chinese share prices dropped today as big banking stocks fell and one of China’s biggest lenders reported a slowdown in growth for last year. The Aussie stock market has fallen off the back of this news as well as the exchange rate which has moved in Sterling’s favour by 0.5% this morning or the difference of £350 on a currency transfer of AUD$100,000. As we head into the Easter weekend expect the markets to stay relatively flat unless something dramatic comes out later today.
The Cypriot banks are due to reopen this morning and this could be a very interesting day for the Euro so if your’e considering exchanging AUDEUR then let me know and i can keep you updated with the movement over the next few days.
This afternoon the US releases revised Q4 GDP data so markets could shake things up for the global fx markets if the date is much different from expectation of a growth of 0.9%.
As always the Australian economy is heavily reliant on both the US and China and their state of affairs. If the US data this afternoon is better than expected we could see the Australian Dollar exchange rate improve back to below 1.45 again.
If you are considering a currency transfer and would like to ensure you are getting bank beating exchange rates then feel free to contact me via email Tom Holian email@example.com
The Euro has weakened against a host of majors after news from Cyprus has sent the currency free falling as a new round in Europe’s debt crisis is now emerging. The government are trying to levy a tax of up to 10% on savers funds in the country. The Aussie has been able to capitalise on this strengthening by around 0.8% up at 1.2460 today. This is the best level for buying your Euros since the 10th of January.
After the 10th of Jan the Euro strengthened against the Aussie rallying up to 1.32 so this current spike for Euro buyers is a welcome boost. If you are looking at buying the Euro then this week may just enable you to gain an extra 2% if the Euro continues to weaken. A limit order may be ideal to help you achieve a better rate than what is currently available.
If you require buying Euros with your Aussie Dollars then please do feel free to contact me and inform me what your requirement is. I will be happy to be your eyes on the market if you do not have time to constantly watch the markets. With the excellent buying opportunities that may occur this week email me at firstname.lastname@example.org and I can explain the process of getting better rates through us than your bank. If you have any target levels that you would like to be informed about then email me and I can let you know when this rate occurs.