Tag Archives: buy Australian Dollars

Best Rates for Buying Australian Dollars – GBP AUD 1.84 (James Lovick)

The Australian dollar remains under pressure as events on the global stage continue to drive the dollar lower. The uncertainty over the potential trade war between the US and China has implications for the Australian dollar too. China is Australia’s largest export market so any slowdown in economic growth in China results in an immediate reduction to Australian exports. The other issue that stems from this is that a global trade war would potentially see a slowdown in economic growth causing some currencies to include the commodity currencies to weaken of which the Australian dollar is one of them.

Rates for GBP AUD are currently sitting above 1.84 which has presented a great opportunity for those clients looking to buy Australian dollars. The pound has been boosted considerably of late on the back of a brighter outlook on Brexit and the prospect of an imminent interest rate increase in the UK. The Bank of England next meet in May and there is a high chance that the central bank will raise interest rates. This seems particularly likely now that wage growth numbers released yesterday increased for the first time in a year. The Bank of England have been paying very close attention to this data set and the boost is proving very positive for sterling.

Those clients looking to sell Australian dollars could see an improvement assuming the rhetoric on trade tariffs begins to die down. The US is currently renegotiating the NAFTA agreement with Canada and Mexico. You may ask what this has to do with the Australian dollar – In my view any progress on this agreement could signal a turning point for US President Donald Trump with new terms agreed and may start to calm those nerves in the financial markets. As such the Australian dollar could be a beneficiary on any positive developments in the world arena.

To discuss your own requirement and how these events have a direct impact on personal currency transfers then please get in touch with me at jll@currencies.co.uk

Pound to Australian Dollar rate trading at annual high, will the pair now climb higher? (Joseph Wright)

The exchange rate for changing Pounds into Aussie Dollars has traded within half-a-cent from its annual high today, as the almost hit 1.85 again during today’s trading session.

As many of our regular readers will be aware, sentiment surrounding the Pound has improved quite considerably recently after roughly a month ago the UK and EU Brexit negotiators came to an agreement regarding the Brexit transitional deal. This was a topic that limited the Pound’s value prior tot he agreement, as there were concerns that there would be a Hard Brexit which most likely would’ve resulted in a weaker Pound due to the shock to the UK economy.

Now that there is likely to be an interest rate hike from the Bank of England next month, sentiment is improving as the UK economy is showing signs of picking up, even if the Brexit has slowed the economy somewhat.

Moving forward, I wouldn’t be surprised to see the Pound climb from its current levels as I think AUD will continue to lose value throughout the year. Now that the Fed Reserve has begun hiking interest rates in the US, AUD is likely to lose some of its attractiveness as it will no longer be offering one of the highest interest rates within the developed world. At the same time trade tensions between the US and China are likely to limit upside for AUD in my opinion.

There are expectations that the Reserve Bank of Australia will increase interest rates to 1.75% at the end of this year, although up until this stage the RBA has been skeptical due to the overheating property market down under, particularly on the East coast. With the RBA being weary of the effects this could have on the Australian economy, I think they will leave it late before making an amendment.

If you have a large currency exchange to carry out in the coming days, weeks or months then you are more than welcome to speak with me directly as I will be more than happy to help you both with trying to time a transaction and getting you the top market rate when you do come to buy your currency. A small improvement in a rate of exchange can make a huge difference so for the sake of taking two minutes to email me you may find you save yourself hundreds if not thousands of Pounds. You can email me (Joseph Wright) on jxw@currencies.co.uk and I will endeavour to get back to you as soon as I can.

 

Will GBPAUD rates rise or fall in April?

The pound to Australian dollar exchange rates has been improving overnight as the Australian dollar suffers regarding some slightly worse than expected Chinese economic data. The Aussie has been on the backfoot in recent weeks as investors lose faith in the currency and find better returns elsewhere.

If you have a transfer to make in the future buying Australian dollars then the outlook is looking better as the expectation for the Aussie is that it will continue to weaken in the future. Markets are bracing themselves for a continuing deterioration of the Australian dollar as the US dollar becomes a more attractive currency to hold.

US interest rates rate have been rising which is making it very attractive to hold, investors would rather hold the US dollar than the Aussie at the moment as it is seen as a safer and less risky currency to hold. The Reserve Bank of Australia (RBA) are in a process of holding off making any decisions on interest rates which has seen the currency weaker. The UK too are in a process of raising interest rates which is leading to much-improved levels for the pound.

Essentially the pound and the US dollar are being made to be more attractive to hold than the Australian dollar which has seen the GBPAUD rates rising. They may well improve further in the future, we will have to wait and see exactly what happens with various factors globally, not just concerns in the UK and Australia.

If you have a transfer to make in the future understanding the market and all of your options in advance is key to getting the best rates of exchange. Part of our service is to assist clients with the timing and execution of any currency exchanges, please contact me personally if there is anything you wish to run through or discuss in the future.

Thank you for reading and please email jmw@currencies.co.uk to discuss further.

Buying Australian Dollars? GBP AUD Supported (James Lovick)

The Australian dollar remains under a fair amount of pressure amidst global economic and political changes. Rates for GBP AUD remain over 1.80 for the pair although a move higher to 1.90 may prove difficult in the short term. Those clients looking to buy Australian dollars with pounds may wish to consider locking in at today’s rates and take advantage of these higher levels which have only recently become available.

The pound has been boosted following slightly better manufacturing numbers released yesterday as per the Purchasing Managers Index. Tomorrows services sector data for the UK could prove particularly volatile for the pound and a strong number could see a rally in the GBP AUD pair.

The Australian dollar could also come under added pressure in the short term as a result of some of the trade barriers which are being erected by China and the US at present. If trade barriers and tariffs continue to go up then the Australian dollar could be one to suffer although the markets are hopeful this behaviour will not turn into a fully blown trade war.

Those clients who are looking to sell Australian dollars for pounds should continue to see more volatility in the coming weeks and months as result of the ongoing Brexit negotiations between Britain and the EU. One of the reasons the pound has rallied is due to the fact that the second round of negotiations has just been completed with talks now progressing on to future trade. Once the thorny issues of the Irish border and also whether financial services can be included in and trade deal have been resolved this could prove beneficial for sterling exchange rates.

For more information on the Australian dollar and how to maximise on the rates of exchange when there is sudden movement then please feel free to get in touch with me at jll@currencies.co.uk

Aussie Dollar boosted after positive Retail Sales data, where to next for AUD exchange rates? (Joseph Wright)

The Aussie Dollar has received a boost overnight after some positive economic data.

After disappointing in recent months Australian Retail Sales down under have rebounded and impressed during February. Retail Sales rose by 0.6% during the month after slumping in January and December.

Improving sales along with inflation are increasing the chances of a rate hike from the RBA, up from its record lows which is where interest rates currently sit.

The Pound has reached new annual highs against the Aussie Dollar in recent weeks after the Brexit transitional agreement has been arranged between the UK-EU negotiators. This positive news for the UK benefited the Pound along with increasing likelihood of a rate hike in May.

Now that the US Dollar offers a higher return than the Aussie Dollar, it’s not surprising to see the Aussie Dollar lose value as investors move deposits from AUD into the USD. Before the recent rate hikes from the FED Reserve bank in the US AUD had offered one of the highest returns in the developed world, but now that AUD is losing this competitive edge we’re seeing the currency lose value.

Early tomorrow morning there will be the release of Australian Import and Export data along with Trade Balance figures. If you’re planning a currency transfer involving AUD it can be worth setting up target rates in case the best trade levels are available in the early hours when we’re not in the office.

If you have a large currency exchange to carry out in the coming days, weeks or months then you are more than welcome to speak with me directly as I will be more than happy to help you both with trying to time a transaction and getting you the top market rate when you do come to buy your currency. A small improvement in a rate of exchange can make a huge difference so for the sake of taking two minutes to email me you may find you save yourself hundreds if not thousands of Pounds. You can email me (Joseph Wright) on jxw@currencies.co.uk and I will endeavour to get back to you as soon as I can.

How high could GBPAUD rates go?

The pound to Australian dollar exchange rates has been touching fresh highs as the pound rises and the Australian dollar weakens. A key factor in this trend has been the shift on the US dollar and the UK with interest rate hikes since both the UK and US are looking to raise interest rates whilst the Australian dollar has been weaker because there are no hikes planned.

This trend seems likely to continue in the weeks ahead as we learn more around the Bank of England who appear very keen to hike interest rates in the future. This will be data dependent but the path ahead is looking clearer which will only help the pound further in the future. The same too is definitely true of the US dollar and the US Federal Reserve who are likely to raise rates up to three more times this year.

As the US interest rate is higher now than the Australian interest rate it makes less sense to hold Australian dollars than US dollars. This has seen a big shift in USDAUD exchange rates which is weighing the Aussie dollar down against the pound and presenting much better opportunities to buy AUD with sterling.

The next really key news is this Thursday with the latest UK GDP (Gross Domestic Product) data which could influence GBPAUD rates. I don’t think this will be a majorly important release but next week could see increased volatility with the latest Australian interest rate decision and important US Non-Farm Payroll data released.

I would not be surprised to GBPAUD pushing higher and we could easily hit 1.90 or the high and mid 1.80’s in April. If you are selling Australian dollars to buy pounds moving sooner than later seems the best bet. Otherwise targetting a more beneficial rate on any spikes might prove a profitable and worthy approach.

If you have any transfer buying or selling Australian dollars then understanding the latest news and trends can help you to maximise your rate by trading at the right time. For more information please speak to me Jonathan Watson by emailing jmw@currencies.co.uk.

Thank you for reading and I hope like our website and information.

 

Has GBP AUD Peaked? – Sterling Begins to Fall (James Lovick)

The pound continues to maintain the higher ground against the Australian dollar whilst sterling is falling this morning against most of the other major currencies. Rates for GBP AUD are currently sitting just below 1.84 for the pair but the positive rally appears now to be coming to an end. At present there is an excellent opportunity to buy Australian dollars with pounds and clients may wish to consider securing sooner rather than later to avoid potential disappointment. Sterling Is beginning to fall sharply against most of the other major currencies in a sign of what may now be about to happen against the Australian dollar.

The pound has been given an excellent boost over the last week after Britain and the EU were able to agree on a transitional deal which keeps Britain abiding by EU rules for another 18 months to avoid the so called cliff edge Brexit. This is important for sterling exchange rates as the agreement gives business some certainty which the markets have been screaming out for. This latest Brexit agreement combined with the trade policy adjustments coming out of the Trump administration have helped see the GBP AUD pair soar.

Donald Trump has made two recent interventions where tariffs on Chinese exports have been introduced. The first was the imposition of tariffs on both steel and aluminium and more recently he introduced tariffs on some imported goods. This has wider implications and the Australian dollar is likely to see market volatility on the back of any further policy changes coming from the US.

These changes have wider implications and the Australian dollar is one currency that is disproportionately impacted. The prospect of a trade war has implications for the Aussie especially considering the size of Australia’s export market to China and the fact that China at present is being heavily targeted by the US with these trade barriers.

For more information on Australian dollar exchanges rates and how to try and make the most of any opportunities in the markets then please get in touch with me at jll@currencies.co.uk

Could we see further increases in the value of the Pound vs the Australian Dollar? (Tom Holian)

The Pound has maintained its positive run recently against the Australian Dollar hitting levels of 1.83 on the mid-market creating the best rate to buy Australian Dollars with Pounds since the EU referendum back in June 2016.

The US have again raised interest rates are now they have surpassed the rate in Australia which has caused global investors to sell the Australian Dollar and move funds into the US.

The American economy has been going from strength to strength recently and with the Federal Reserve likely to continue on their path of raising interest rates this year I think we could see further weakening of the Australian Dollar.

The Reserve Bank of Australia are unlikely to be raising interest rates in the near future as the Australian economy is showing signs of a slowdown and with the trade wars between the US and China this could cause further problems for the Aussie Dollar.

The reasoning is that as China is such a major trading partner with Australia any problems with the economy in China can often have a negative effect on the value of the Australian Dollar.

The ongoing trade wars between the US and China have also destabilised the currency markets and this has again caused global investors to move money away from riskier commodity based currencies such as the Australian Dollar.

I think we could see further weakness ahead for the Australian Dollar. We have already seen the Pound remain above 1.80 for a sustained period of time and if the tone of Brexit remains positive I think we could see a strong end to this month for the Pound vs the Australian Dollar.

Having worked for one of the UK’s longest established currency brokers since 2003 I am confident of being able to offer you bank beating exchange rates as well as helping you with the timing of your currency transfer when exchanging Australian Dollars

For a free quote please send me an email directly and I look forward to hearing from you.

Tom Holian teh@currencies.co.uk

Buying Australian Dollars with Pounds? (James Lovick)

Those clients looking to buy Australian dollars have seen a great spike this week for the GBP AUD pair. Rates for GBP AUD have broken over 1.83 although the recent rally appears to be running out of steam. The pound has been given an excellent boost after agreement was reached between Britain and the EU on a transitional deal in the Brexit negotiations. The pound has benefitted from this as a degree of confidence for British business has been restored and this is seen as welcome news for the British economy.

Clients looking to buy Australian dollars would be wise to consider taking advantage of the current highs as spikes likes these in recent months have so far proved very short lived. There are a number of thorny issues which will resurface in the coming weeks and revolve around the Irish border and financial services.

If no agreement is reached over the Irish border and if a deal cannot be found which includes financial services for the city of London then the prospect of a no deal scenario suddenly starts to look considerably more likely. It is for this reason that any gains beyond these levels seem unlikely in the short term at least.

Clients looking to sell Australian dollars should see some spikes in the coming weeks and months although my view is that a deal on Brexit will be reached and this could see the pound perform very well. A move towards 1.90 for GBP AUD cannot be ruled out in these markets especially as the Brexit appears to have finally turned a corner with an apparent accord and will to move forward from all sides.

For more information on Australian dollar exchange rates and how to make the most of these opportunities in this volatile period then please get in touch with me at jll@currencies.co.uk

AUD Weakness after Hints on US Trade Policy (James Lovick)

The Australian dollar came under pressure in afternoon trade yesterday taking considerable losses against most of the major currencies. Rates for GBP AUD have climbed higher breaking over 1.79 for the pair which has created a good opportunity for those clients looking to buy Australian dollars with pounds.

The weakness in the Aussie has stemmed from events in the US rather than negative data down under. The new economic adviser to US President Donald Trump has signalled he is in favour of a strong US dollar whilst also signalling that he is preparing for another round of tariffs which will target Chinese exports.

The prospect of a trade war appears to be looking more likely on the back of these comments and the commodity currencies including the Australian dollar are likely to be impacted upon badly. The Canadian dollar in particular has come under substantial pressure on the back of protectionist policies and the Aussie may have further to fall. Clients looking to buy Australian dollars in these coming weeks could see some even better opportunities to purchase with a move higher to 1.80 for the GBP AUD pair looking likely. Whilst the steel and aluminium tariffs imposed so far have had little real market reaction any other measures could see the Australian dollar come under renewed pressure.

The dollar had until recently been supported following upbeat trade data from China which is normally seen as a vote of confidence for the Aussie but the comments from US economic adviser Larry Kudlow. Australia’s largest export market is China and so when the Chinese economy is performing well it is generally a good sign that global economic growth is being seen and Australian exports are on the up. Any perceived slowdown in economic growth is likely to result in a rocky ride for the Aussie going forward.

For more information about the Australian dollar and how to try and make the most of any opportunities for buying or selling Australian dollars then please get in touch with me at jll@currencies.co.uk