Tag Archives: Aussie
In early morning trading the pound hit its highest level against the Australian Dollar since 2nd January reaching a high today of 1.5460 bringing Sterling’s gains against the dollar to nearly 10 cents since the beginning of April, but will this trend continue? Sterling’s moves came following the Bank of England quarterly inflation report in which Mervyn King (head of the Bank of England) was to indicate that the banks growth forecasts have upgraded and they have forecast that inflation levels will fall faster than previously indicated.
This data was to continue the UK’s recent run of stronger data and has painted a slightly more positive picture for the pound as a result. This all bodes well for AUD buyers and I still feel some more value will be seen for GBP/AUD rates for those that can be patient.
For anyone selling AUD I would still urge you to take advantage of rates that are historically still very favourable. The average trade price for GBP/AUD for the last year sits around 1.54, so with levels currently at the year average it is not all doom and gloom. For me the current trend and sentiment from Australia is a concern and I would expect rates to move towards 1.55 as I feel the central bank is still concerned about the strength of the Aussie and the impact this is having on the value of Australian exports. I would not be surprised to see another interest rate cut within the next 3 months, something that could devalue the AUD further.
Should you have an upcoming money exchange to arrange and you would like more information on the currency service we provide please contact the office on 01494 787478 or email me (Mike) at email@example.com
Following the recent interest rate cut by the Reserve Bank of Australia to 2.75% will this see the first of many throughout the course of 2013? For me I would certainly not be surprised to see another quarter or half point cut by the end of the year but this may well depend on the economic activity/output from China. Recent figures from China have been much softer than late and this may prove a worrying concern to the RBA and I feel they will keep their cards very close to their chest about future monetary policy. What does this mean for the value of the Aussie? Since the start of March we have seen the pound rally nearly 5% and I for one feel this may well be the start of a revival for the pound and would look for moves towards 1.55 in the coming weeks. For this reason I would urge anyone selling AUD to look at their options whilst rates are still historically very favourable, for those buying I feel you will get more value for the pound as we head into the summer months.
Should you have an upcoming trade to arrange and you would like to discuss the market in more detail and how we can help you achieve a competitive commercial rate of exchange then please get in touch. We are here to help. Please email me with your particular currency requirement and I will happily get in contact to discuss your options to help you maximise your trade. Email firstname.lastname@example.org
GBPAUD exchange rates dropped yesterday as official figures showed that Aussie retail sales rose by 1.3% in February and building approvals also rose by 3.1%. It is difficult to see GBPAUD exchange rates get back towards previous years as the country’s natural resources and successful mining industry continues to boom.
According to the Markit Purchasing Manager’s Index this morning the UK Service Sector has grown at its fastest rate in 7 months and provides us with signals that the UK economy may have avoided falling back into recession. The survey figures showed a rise of 52.4 last month from 51.8 in February and anything above represents expansion. official figures showed that the UK economy contracted by -0.3% in the final quarter of 2012 and if we see the same in Q1 we could see the UK enter the third recession in five years.
All in all the UK does not seem to be in a very good state and it could be argued that if things continue we could see Sterling Aussie rates drop towards 1.40 rather than towards 1.50. The Olympics gave the UK a little boost during 2012 but this seems to have papered over the cracks.
Later today we could see some large movement on the fx markets as both the UK & Europe announce their interest rate decisions at 12pm and 1245pm respectively. If you have a currency requirement and want to ensure you are getting competitive exchange rates feel free to contact me for a free quote.
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Sterling exchange rates posted small gains against the Australian dollar as the Euro experienced heavy losses bringing levels close to 1.24. As my colleagues have discussed in previous posts, the uncertainty surrounding Cyprus has created a great deal of market volatility and uncertainty heading into a busy trading week. With the Australian dollar still classified as a riskier currency this may well cause some big swings for the Aussie as investors will often shy away from the dollar in times of uncertainty. Tomorrows minutes from the Reserve Bank of Australia may also lead to some short term volatility and anyone with an interest in the Australian dollar should watch out for this release for any insight as to the banks stance on monetary policy, any hint towards future interest rate cuts and we could see the dollar weaken, likewise if the bank have not discussed monetary loosening then watch for dollar strength.
As a specialist currency broker we have a number of tools available to take advantage of spikes as they can often be short lived. Our aim is do maximise our clients positions and to keep them up do date with market trends. Should you have an upcoming money exchange to arrange and you would like to hear more about the currency service we provide then I would be happy to discuss the service in full. We can offer you contracts ranging from standard spot and forwards to stop/loss and limit orders, we also have a rate alert service ensuring we will contact you when a particular rate becomes available.
Having worked in the industry for a number of years I know what a difference a fraction on the exchange can make. Whether your are emigrating, importing a luxury car, settling an invoice or diversifying your portfolio then our currency service may well be of use to you. To find out more please contact the office on 01494 787478 or email Mike at firstname.lastname@example.org for more information.
Recently the Australian dollar has continued its ascent against the pound moving close to record highs, nearly breaching the 1.45 barrier. Today we have a number of data releases which if positive could give the pound a shot in the arm. At 09:30 we have industrial and manufacturing figures from the UK. These have been very negative of late and any improvement could give the pound a much needed boost, however should this negative trend continue then watch for further sterling weakness. This mornings data is followed by UK GDP estimates at 15:00. These figures will be eagerly anticipated to see if the UK is on path to escape the triple dip recession.
For me this is key to the short term trends for the pound. We have a central bank that have openly talked down the value of sterling an a last ditch attempt to claw the UK out of recession and figures are suggesting this could be a very close call. If official GDP data from Q1 is at 0% or better then recession has been avoided and I a long overdue correction for the pound could be seen. Anyone buying AUD may see some opportunities if today’s estimates are positive, however should you be selling you will find it difficult to find a better time to sell AUD. Rates have moved some 8% since the start of the year, a pretty good return in anyone’s eyes and a real opportunity should you be selling.
To discuss the best way for exchanging your currency and to see what rates we can achieve then please contact the office on 01494 787478. Alternatively please email me with a brief description of your currency requirement and I will happily run through the next step and types of contracts we can offer. Please email Mike at email@example.com for more information.
This week is a particularly busy week for the GBP/AUD pairing with plenty of data sets being released. Below I have outlined the major data sets and the potential outcomes:
- Overnight at 00:20 GMT we have Retails Sales figures from Australia – expected to show an increase month on month from -0.2% to 0.4% and should give strength to the AUD.
- Following this at 03:30 GMT we have the Reserve Bank of Australia releasing their latest interest rate decision. Expected to stay on hold at 3% but with rumblings that the RBA may continue with their recent stance of cutting the base rate then the subsequent statement that follows should be keenly viewed. Any suggestions the RBA will be cutting in the months to come and we could see the dollar weaken as a result.
- Heading into Wednesday at 00.30 GMT watch out for GDP data from Australia, expected to show a slight improvement month on month from 0.5% to 0.6% – any deviation and expect volatility.
- Thursday is the key day from the pounds point of view with the Bank of England releasing their interest rate decision 12:00 GMT. Again expected to stay on hold but an outside chance of a rate cut that would in theory significantly weaken sterling, one to avoid if buying AUD.
As you can see it is a very busy week. Should you have an upcoming money exchange to arrange and would like to discuss the current market trends and data sets in more detail then please do not hesitate to contact me on either 01494 787478 or by emailing Mike at firstname.lastname@example.org and I will provide further insight into market forecasts and how we can help you save money on your foreign exchange.
As most followers of this blog will be aware, and certainly anyone with an interest in GBP/AUD, the pound has suffered at the hands of the Australian Dollar since the start of the year. Should you have an upcoming position to buy AUD I would certainly suggest you take stock and consider your options, likewise anyone selling Aussie dollars you could struggle to see a more favourable time to exchange. Indeed levels against sterling are close to the record highs of 1.4549 in February 2012 – should you be selling a word of caution, by May 2012 rates were back to 1.60, a reversal of 9% in 3 months.
I am not suggesting the market will rebound this dramataically but I for one feel the Reserve Bank of Australia will continue with its stance on interest rates and I would expect interest rate cuts throughout the year. I feel short term (1-2 months) those buying AUD with the pound will continue to be disappointed but I can see a correction towards 1.52/53 on the AUD in Q2.
Should you find this website useful and you are one of the many thousands looking at moving money in the coming weeks and months then please contact me on 01494 787478 or by emailing email@example.com
As a specialist foreign exchange broker we have a number of different contracts to help private and corporate clients alike. To find out more and to see what savings can be made when compared to the high street banks and other institutions then please email firstname.lastname@example.org with a brief description of your transfer and I will gladly be of assistance.
Sterling exchange rates have struggled today against the Australian Dollar falling 0.5% throughout the course of the day. Currently this pair has remained range bound between 1.51 and 1.53 and proving very difficult to forecast. I still believe this year the Reserve Bank of Australia will continue with its monetary easing and this is likely to put pressure on the Aussie in the months to come, I also feel the economy in Australia will begin to slow with falling demand from China, pressure on Australian exports because of the strong dollar and the slowing mining sector. I feel anyone selling Australian dollars should seriously consider their options whilst rates are so strong. At the lowest point this year the pound had fallen nearly 4.5% against the Aussie, we have seen levels re-trace a fraction but Aussie sellers should remember you are only 4 cents from a near 25 year high – surely a good opportunity?
With the current market conditions being so volatile it is very important to get yourself in a position to take advantage should market levels spike in your favour. With rates moving in excess of 1% on a daily basis timing your exchange can make a significant difference to the cost of your transaction. As a specialist currency broker my job is to keep you informed of the current market trends and to help you maximise your exchange. Should you wish to discuss the service we provide and to discuss the market and different contract types available then I would be happy to speak with you. I am confident I can secure you a more favourable price than your current provider so please get in touch either by phone on 01494 787478 or email me direct (Mike) at email@example.com
Exchange rates are much like weather, accurate predictions are almost impossible. You can make as much preparation as possible but still be caught out by unexpected changes.
Exchange rates like weather do follow reasonably predictable trends with certain limits however. It would be a shock for it to start snowing in July in the UK but not impossible. This is similair to saying GBPAUD could go to 1.70. It could but it is highly unlikely.
Understanding what is driving the rate and is keeping levels where they are is a key component of getting the best deal. All too often we have clients who have a short term requirement and is magically hoping for the exchange rate to climb sometimes 10 cents in a short space of time.
Getting the best rate may actually mean trading at a level you previously did not want to. As many a wise man and woman has stated it is often best to hope for the best, plan for the worst. Some kind of contingency plan is always sensible to make sure you do not miss out. For a free, no obligation discussion of your currency transfers please feel free to contact me directly. Getting your timing on a currency deal is very important so even if your transfer is just a one off do not hesitate to get in touch for more information. Think of it as putting an umbrella in your bag when you don’t know quite what the weather may do. It will only take you a minute to do but could end up being a godsend if you need it.
You can contact the author directly on firstname.lastname@example.org or call (+44) 01494 787 478.
The Australian Dollar has posted strong gains against the pound today rallying nearly 0.5% but has held steady against the single currency. This week is relatively quiet for the Aussie with the most notable data set being on Thursday with employment change figures. Figures will give clues as to the current performance of the Australian economy and could throw up some surprises for the dollar throughout the course of Thursday’s trading. Elsewhere data sets for the beginning of the week are dominated by European and UK data tomorrow with German GDP data and European trade balance figures followed by UK Inflation and Retail sales figures. Those looking at buying AUD with GBP should also keep an eye on a speech from the Governor of the Bank of England Mervyn King. King is scheduled to speak at 10:00 and historically can be overly cautious about the UK’s prospects, this could keep pressure on the pound and I see rates hovering around 1.5150-1.52.
EUR/AUD exchange rates have been relatively stable over the course of the last three months, reaching a high of 1.28 and a low of 1.22, the average trade price sitting in the region of 1.25/26. Current market levels are at 1.2652 and I personally see little change for this pairing in the coming weeks and would expect a range between 1.25/27.
As a specialist foreign exchange broker my aim is to help my clients achieve the most from their current positions. By speaking with us early and giving an idea of timings for your exchange we can run through the best contracts to help maximise your exchange. Keeping in contact with your broker is essential in the current climate with big swings experienced across most pairings. To run though our service in full and for an in depth forecast then please email Mike at email@example.com