Tag Archives: AUD/EUR
Chinese Markets fall causing GBPAUD Exchange rates to improve (Tom Holian)
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 teh@currencies.co.uk
Euro weakens against the Aussie Dollar due to Cyprus uncertainty. (Ben Amrany)
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 bma@currencies.co.uk 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.
Ben Amrany
Where next for the Australian Dollar against the Pound and Euro? (Ben Amrany)
The Australian Dollar has been extremely volatile over the last few weeks with the rate spiking to near all time highs against the pound. It has also regained some of its losses against the Euro.
Events in Europe most notably the Italian election may have a knock on effect on the Aussie Dollar as the currency in times of global uncertainty can be effected due to its high risk with investors. As the uncertainty persists in Italy you will more than likely see the Aussie slightly get knocked of its perch against a host of currencies. We have already seen this against the pound with the rate moving from 1.47 to 1.4850.
Other events in Australia could also halt the Aussie strength over the coming months and if you have AUD to sell I would consider looking at your position sooner rather than later. Guy Debelle who is one of the members of the Reserve Bank of Australia has come out with comments stating that it is very possible that there may be further interest rate cuts in the future. If this was to happen then I would expect to see a movement in the rate of 2-3% after the decision not in favour of clients selling the Aussie. Debelle also went on to add that intervention could even happen to counter balance the pressures of an elevated exchange rate. This is concerning as it seems the RBA would be happy for the exchange rate to weaken to help their exports. The trick is trying to work out when this may occur. My prediction would be over the next 2-3 months. So if you are selling Aussie Dollars now may be a fantastic time to capitalise on the excellent rates that are on offer. Please do email me at bma@currencies.co.uk if you are looking at capitalising on the rates.
If you are looking at buying the AUD then if you can hold out a little longer you may just get slightly better rates than what is currently available. If you inform me what your requirement is then I will be happy to explain all the options that are available to you. If you are buying or selling the Australian Dollar we can help you achieve a better rate than your current broker and high street bank and the savings can be extremely significant.
Please feel free to email me at bma@currencies.co.uk with your requirement and contact details. I will call you to discuss the options that are available to you.
Thank you for reading.
Ben Amrany
Will GBPAUD test the all time low? Have you made provisions for this market?
The strongest the Australian dollar every reached against the pound was 1.4660 Feb 10th 2012. Unfortunately the nature of exchange rates means that once you lock into a rate it is more than likely that at some point in the near future a better price will be seen. That is the way markets work, catching the top or bottom of any market is almost impossible. You don’t know you have reached the top or bottom until it drops the other way. And by then of course you have missed the peak! GBPAUD is currently testing the all time low of 1.4660 with rates around 1.47-1.48.
Will we break 1.4660? The reasons for AUD strength in recent years remain. The reasons for GBP weakness also remain and therefore it is very likely that we will see GBPAUD drop to 1.45 soon as on balance the pound appears to be weaker currency and to have less going for it. Chinese and Asian data is remaining strong and the UK is looking likely to lose its triple A rating very soon. Next week we have UK GDP data which will confirm whether or not the UK economy contracted in Q4 2012. The revision is expected to confirm last month’s data that does point to a UK in recession.
The pound is continuing to slide and it is looking highly likely it will continue to fall in the future. You can read my own personal assessment on why the pound is so weak on our sister site here. Even if you do not need to exchange today making some small careful preparations ahead of the need to exchange could work very much in your favour.
Should you have an overseas money transfer to consider and would like to find out about getting a better deal (whatever your currency pairings) it is highly likely I can save you money and help with the timing of your exchange. For more information please contact me directly on jmw@currencies.co.uk , I look forward to hearing from you and assisting with your situation.
Which way for the Australian Dollar now? AUD forecast
As my colleague Tom alluded to below, many analysts expect the Reserve Bank of Australia to cut interest rates at its next meeting scheduled in the first week of October. This may be good news for anyone buying dollars as I personally feel this will hold back any short term gains for the Aussie and I would expect GBP/AUD to head towards 1.60 and AUD/EUR towards 1.25. I am more confident that any losses against the Euro will be short term as I am still less than convinced, even with recent positive tones coming from Europe, that a resolution will be found to the euro zone debt problems. Yes the bond buying program to be introduced will give a much need influx to the European countries that most need it (ie Spain, Italy, Greece et al) however how long til the mud sticks? To me it is not sustainable and the ECB cannot continue to simply throw more money at the problem and I am sure at some point the problems will resurface and the Euro exchange rates affected as a result. As for GBP/AUD, I personally see a the market range bound between 1.56-1.58 and a long term see resistance at the 1.60 territory, however should you be buying the Aussie in the coming weeks rates, as they are, still represents a decent return in my opinion. Since the beginning of August the pound has gained some 6% – surely not to be sniffed at and a good return in anyone’s eyes.
To take advantage of the current spike against the AUD or to discuss your transfer in more detail then please do not hesitate to contact Mike direct on mgv@currencies.co.uk or call 01494 787478. As a specialist currency broker there are a number of different contracts individuals and corporate clients alike can utilise to gain the most from their currency trade. As part of the service I can happily run through the best contract for you and pass on my independent view on the market to help you make an informed decision as when is best to execute your trade. Contact Mike on mgv@currencies.co.uk
Australian Dollar continues to strengthen against GBP, USD & EUR
The Australian Dollar has continued its run of strength against the pound, US Dollar and Euro. Yesterday the Aussie reached its highest ever level against the Euro and was trading at a 4 month high against the pound. These are amazing levels for selling your Australian Dollars.
The Australian Dollar is an extremely volatile currency. Investor sentiment has a big effect on the state of the Dollar. With hopes of a resolution to come out of Europe on Thursday to help solve the regions debt crisis investors have been looking once more to the riskier southern hemisphere currencies.
I would not be surprised to see the AUD continue its strong run. Should data out of China or Australia’s retail sales and trade balance data out in the early morning on Thursday, come out slightly negative then we may see the gains reversed.
If you would like assistance in making a saving over the high street banks on your currency exchange then do please feel free to contct me at bma@currencies.co.uk. I help many clients all over the world use our service to buy any major currency. We can typically save you up to 4% on your exchange while also offering you a very personal service which the banks just will not do. We also have differnt options that may suit your requirement from forward buying to placing stop loss and limit orders. If you would like information on any of this please do email me with your contact details and I will call you to explain all the options that are available to you.
The best AUD exchange rates to buy Euros and Pounds. The AUD at an all time high against the EUR!!!
The Australian Dollar has gone from strength to strength against the pound and the Euro in recent weeks. Since the turn of the year the Aussie is now up a massive 5.35% against the Euro trading at 1.20. These are the best levels I can recall for you to sell your AUD to buy the EURO. If you are down under and are planning on emigrating to Europe or just buying a holiday home now is the best time to exchange your funds.
It is debatable about how much further the Euro may decline. The all time high for exchanging your funds was down to the European Central Bank cutting their interest rates on Thursday this week. When a country or region like Europe cut their rates you tend to find the currency in question weakness. This is exactly what we witnessed this week. You may find that as we head into the new week the Aussie will fall back slightly as there was some bad data to come out of the US and this occasionally has a knock on effect on the Aussie due to investors fleeing the riskier currencies and moving back to the safe havens.
The good thing for those of you that need to buy Euros or pounds is that with the rates extremely attractive you should still make sure that you get the est deal on your currency exchange and we will make sure that we are not beaten by any broker in Australia or here in the UK. If you would like to contact me at bma@currencies.co.uk. I will go over all the options that are available to you on your exchange and explain how we will make sure we offer you the very best rate at teh time of trading.
Ben Amrany
the Aussie Dollar is at a two month high against a range of currencies. How does events in Europe effect the AUD?
The Aussie Dollar has continued to strengthen against a range of currencies over the weekend including gains against GBP, USD, EUR & YEN. Rates are now hovering at around a 2 month high against a range of currencies and now may be an extremely good time to capitalise on this if you have a requirement to buy any of the above currencies.
The main reason for the Aussie Dollar strength is due to investors appetite for risk once more. Euro zone leaders had a summit last week and an agreement was made to take the pressure off national budgets by using the continent’s bailout fund to provide direct support to struggling banks.
You often find that when confidence is put back into global financial markets the Aussie Dollar goes on a run and strengthens very quickly. So when European ministers agreed measures aimed at sorting out the Euro zone’s sovereign debt crisis there was a very quick run on the Aussie Dollar.
Over the last month with all the uncertainty in Greece and Spain we witnessed the Aussie Dollar lose significant strength. This was because investors decide to move into the safe haven of the USD and move away from the riskier currencies like the AUD. So now that some confidence is back with in the Euro the AUD has gained once more. The question is for how long?
There will be more issues come out of Europe over the next few months. If you are looking at buying or selling the Aussie Dollar I would recommend using events in Europe to your advantage. When there is confidence in Europe sell your Aussie Dollars to buy any major currency and try and do this when there is a good spike in the market like at present. If you need to buy the AUD then try and do this when times are uncertain when the Aussie weakens over the course of a week or two.
If you would like to speak with me about a currency transfer that you need to make over the next few weeks or months then you may email me at bma@currencies.co.uk. I will be happy to discuss all the options that are available to you and also explain how we can help assist you getting a better rate of exchange than your high street bank.
