Tag Archives: currency requirement

Pound to Aussie Dollar range-bound, but where to next? (Joseph Wright)

The Pound to Aussie Dollar exchange rate has been trading between 1.66 and 1.68 for a few days now, as the pair appear to have consolidated below 1.70 in the wake of the disappointing election outcome for Sterling bulls.

As of yet there is no official agreement between the Conservatives and the Democratic Unionist Party (DUP) although speculation is mounting as to the amount the Conservatives will have to pay for the coalition, with some speculating amounts of up to £2bn.

Moving forward I’m expecting any news of the coalition to have a potential impact on the Pound to Aussie Dollar buying rate, which is where keeping in touch with us can really help as we’re able to act whenever there’s a big short term move.

Brexit negotiations are now also underway, which is another issue for the government to deal with along with the ongoing Grenfell Tower tragedy and the recent terrorist issues.

On the other hand the Aussie Dollar has been under pressure in recent weeks as the Chinese economy appears to be slowing, which is a negative for the value of AUD as the Australian and Chinese economies are key trading partners.

With both currencies coming pressure for different reasons, it could be that the weaker of the two that results in further price movement for the GBP/AUD pair.

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.

 

GBPAUD exchange rates fall to a 8 week low! (Dayle Littlejohn)

Pound vs Australian dollar exchange rates have reached an 8 week low this week due to sterling devaluing and the Australian dollar strengthening. To put this into monetary terms over the last 2 weeks exchange rates have dropped 5 1/2 cents which means a 200,000 Australian dollar purchase is now £3,850 more expensive.

Starting with the Australian dollar GDP numbers have remained resilient this month, and positive business sales growth coupled with increased consumer spending has strengthened the Australian dollar. In addition the Philip Lowe (Governor of the Reserve Bank of Australia) also commented earlier in the week that the global economy is in better shape than previous years which is helping the commodity currencies. This was a surprise statement as iron ore prices continue to remain under pressure due to a slow down in China.

As for the pound the Governor of the Bank of England gave a dovish statement yesterday and confirmed the UK are not in the position to raise interest rates anytime soon even though three members of the Bank of England voted to hike rates only 6 days ago. Furthermore Brexit negotiations have begun and are putting pressure on sterling as the market is nervous about a deal being struck in regards to the divorce settlement.

In my opinion it is impossible to predict how Brexit negotiations will impact the pound. Positive news will strengthen the pound negative will do the opposite. I am optimistic that deal will be struck eventually however other traders on the floor are not. If you are purchasing pounds with Australian dollars or vice versa I would recommend getting in touch and I will keep you up to date with regular information until you are ready to convert drl@currencies.co.uk.

If you are buying or selling Australian dollars in the upcoming months and want to achieve rates of exchange that are better than your bank, whilst receiving regular economic information feel free to email me with the currency pair (AUDGBP, AUDEUR, AUDUSD) the reason for the transfer (company invoice, property purchase) the timescales you are working to and I will respond with my forecast and the process of converting currency. My direct email address is drl@currencies.co.uk and I look forward to receiving your email.

Pound to Aussie Dollar exchange rate falls again, will the downward trend for the Pound continue? (Joseph Wright)

The Pound to Aussie Dollar buying rate dropped again throughout today’s trading session, with the exchange rate dropping by 0.65% throughout the day up until the time of writing.

Not only are the financial markets and investors concerned about the political situation in the UK, with the outcome of the election being one of the worse case scenarios for the UK as it resulted in a Hung Parliament, but the rising rate of Inflation and lower wage growth becoming an issue that could rise to the surface very quickly.

If the rate of inflation continues to climb but the rate of wage growth continues to decline (as figures released today showed it happening for the 3rd month in a row), I think the Pound could find itself trading at a much lower rate than we’re currently witnessing.

My reasoning behind this is because the UK consumer has been propping up the UK economy since the Brexit, which has allowed the ship to steady to an extent after all the warnings from market analysts should the UK pubic have voted to leave the EU.

Should the current trend of higher costs of living in the UK continue I think the Pound may fall as I previously mentioned, and if you would like to be kept updated regarding this matter as well as any others that can potential impact GBP to AUD exchange rates, do feel free to get in touch with me.

There’s a plethora of data due out tomorrow for the UK specifically, so feel free to contact me overnight to discuss these events and how they could impact any short term currency exchange plans you may have.

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.

Sterling vs Australian dollar predictions (Dayle Littlejohn)

In recent weeks the pound has been falling against most of the major currencies however remains buoyant against the Australian dollar. The reason for the pounds decline is that the UK public will be visiting the polling stations once more to decide who will run the country for the next term. Past history tells us when there is an election the currency in question comes under pressure and therefore losing ground against its counterparts.

However the pound has performed relatively well against the Australian dollar as the Austrian dollar has problems of its own. It was only yesterday the Australian dollar took a battering due to further falls in iron iron prices, Australia’s largest export. Furthermore Westpac announced capital expenditure figures have disappointed and the Chinese manufacturing activity is slowing which has led to the two per cent drop in iron ore.

As there is only 6 days to the UK general election, this week I expect the pound to come under further pressure and GBPAUD exchange rates to fall back towards 1.70. Polls are narrowing and suggesting that the Conservative party won’t win a majority however I personally believe they will pull through.

If I were buying Australian dollars I would not put all of my eggs in one basket and would therefore purchase 50% before the election and 50% in the future just in case we see another shock announcement like we did 12 months ago when the public decided to vote out of the European Union.

For Australian dollar sellers the slowdown in China is not going away and I believe this will continue in the months and in fact years to come. Therefore if I had Australian dollars I expect rates to be at their most volatile towards the end of the week on the eve of the election and thats when I would make the conversion.

If you need to buy or sell Australian dollars and would like to save as much money as possible, feel free to email me with your requirements and I will respond with the process of using our company drl@currencies.co.uk. As a company we pride ourselves in the ability to get you a better exchange rate than your current currency provider or your bank. In addition we can outline your options and the potential future events, which will impact your exchange rate. This will help you to make informed and educated decisions.

Pound to Aussie Dollar rate consolidates above 1.70, will the Pound manage to hit 1.80 this year? (Joseph Wright)

The price movement between the Pound and the Aussie has been interesting today, and may offer those planning a currency conversion between the pair with a indication of what to expect in future.

Sterling exchange rates came under pressure across the board during today’s trading session as late last night a YouGov poll suggested that Theresa May’s (the current UK prime Minister) Conservative Party may lose its majority in the upcoming election, and this political uncertainty is weighing on the Pounds value as is often the case.

Interestingly the currency didn’t come under pressure against the Aussie Dollar, as the currency appears to be under pressure at the moment which leads me to believe that if the gap between the Labour Party and the Conservative Party in the UK widens, we can expect to see the Pound make up ground on the Aussie Dollar and maybe even breach the 8-month high of 1.7635 it hit recently and trade towards 1.80.

The Aussie Dollar has come under pressure since China was downgraded by Moody’s earlier this month, as the Chinese economy appears to be slowing which isn’t a positive sign for the Australian economy due to the two countries close trading ties.

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 the issues surrounding the Australian property market weaken AUD further? (Joseph Wright)

The Pound to Australian Dollar exchange rate hit 1.7430 at it’s highest point during today’s session, although at the time of writing the Pound appears to have lost all of today’s earlier gains.

It’s difficult to tell which way the rate will move next, although I think that it will be underlying weakness that results in the next big move for the GBP/AUD pair as both currencies are coming under pressure for differing reasons.

China was downgraded by Moody’s (a credit rating agency) for the first time in 30 years due to slowing growth in the region although markets haven’t overreacted as a slowing in growth was inevitable.

This could spell bad news for the Aussie Dollar moving forward due to the interconnected economies (Australia and China) being quite reliant on each other. At the same time further talk of the property markets in Sydney and Melbourne overheating are surfacing again, and with a slowdown in the construction sector down under becoming a talking point as well I think there could be issues for AUD later down the line.

The Pound has also come under pressure due to the terrorist attack earlier this week, and with the election just around the corner we could see further headwinds for the Pound as we get closer to the election date (the 8th of June).

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.

Factors impacting GBPAUD exchange rates (Dayle Littlejohn)

In recent months the Australian dollar has been losing ground against sterling for a few reasons. Firstly Iron ore prices, Australia’s largest export an a commodity that Australia heavily rely on has been falling in value. Last week Iron ore stockpiles at Chinese ports rose 1.7% to a record 134.25 million tons as of Friday, according to weekly data from Shanghai Steelhome E-Commerce Co. With reports suggestions China are having a slow down these stock piles continue to rise which in turn would have a negative impact on iron ore prices. Secondly the UK Prime Minister called for a snap election which also provided strength for the pound as a Conservative majority is likely which in turn would give the PM more power when negotiating Brexit.

However recent poor UK economic data has stopped the pound for making any further gains against the Australian dollar. The Bank of England have announced inflation is outpacing wage growth which is real problem for the UK public, however the Bank of England are not in the position to raise interest rates which would combat the inflation pressures.

Looking ahead I wouldn’t be surprised to see the Australian dollar continue to devalue as the FED are likely to raise interest rates in the upcoming months which would lead to a sell off of Australian dollars to buy US dollars and the also the problem with Iron ore is not going away. As for the UK as soon as the General Election is over Brexit negations will be in full swing.

The Bank of America Merrill Lynch Global Research have exclaimed Brexit negotiations could cause major swings for sterling exchange rates.  They told their clients they believe sterling’s good run is coming to an end. Personally I think it is impossible to predict how Brexit negotiations will unravel therefore gambling on this could go either way.

The currency company I work for has won numerous awards for exchange rates therefore it enables me to trade Australian dollars at rates better than other brokerages and high street banks. I would recommend sending an email with a brief description of your requirements and your timescales (this is very important, the length of time you have will change your options) and I will email you with my strategy and the process of using our company drl@currencies.co.uk. Alternatively if you would like to discuss your requirements over the phone call 0044 1494-787478 and ask to be put through to Dayle Littlejohn.

Pound to Aussie Dollar rate continues to fall over UK economic outlook concerns, will the downward trend continue? (Joseph Wright)

The Pound to Aussie Dollar exchange rate fell into the 1.73’s earlier today as the downward pressure upon the Pound continued.

Despite still trading in the 1.70’s the GBP/AUD pair has fallen from its 8-month high as the currency is falling against all major currency pairs, with the drop against some currencies being steeper than others with GBP/EUR’s fall down to a 5-week low bring one of the standout movers.

The main reason for the softening to Sterling’s value can be attributed to the Inflation rate within the UK and its knock on effects.

The rate of Inflation has risen to its highest level since September 2013 and this is significant as it’s come at a time when UK wage growth is stagnating. Inflation is growing at a higher rate than wage growth which is likely to negatively impact consumer spending within the UK, which is an important aspect of the UK economy.

This situation looks gloomy for the Pound moving forward as the Bank of England has ruled out a rate hike in the short term future, especially with a general election just around the corner.

I wouldn’t be surprised to see the GBP/AUD rate dip below 1.70 in the short term future, unless there’s a reversal in the steep rise of living costs within the UK.

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.

Was today a blip for the Pound vs the Australian Dollar? (Tom Holian)

For the first time recently Sterling has fallen against the Australian Dollar as the positive movement for the Pound seems to have been halted in its tracks. This has provided Australian Dollar sellers with a respite and a good opportunity compared to the last few days.

The Bank of England kept interest rates on hold earlier today which came as no surprise but the central bank has announced a cut in the growth forecast.

The Quarterly Inflation Report suggested that inflation would hit 2.8% whilst average earnings would hit 2% and this caused investors to sell off Sterling which has led to a 2 cent drop from the high to low between the Pound and the Australian Dollar.

We end the week with some Chinese data overnight and arguably more importantly US inflation data tomorrow afternoon.

With the US economy having been struggling with growth recently it will be interesting to see what happens with with tomorrow’s release. In recent weeks the negative data in the US has shown problems for commodity based currencies and this is why we have seen such a large movement in Sterling’s favour vs the Australian Dollar.

The other reason for Sterling’s gains over the last month is that things are looking more politically stable in the UK with the Conservatives appearing to be unchallenged at the moment. The stability of having another term of the same government has helped to strengthen the Pound vs the Australian Dollar.

Although today the Pound has fallen vs the Australian Dollar I think we could see the Pound challenge 1.80 at some point in the run up to next month’s election.

If you have an upcoming currency requirement and would like further information or free quote when converting Australian Dollars then contact me directly and I look forward to hearing form you.

Tom Holian teh@currencies.co.uk

 

 

Why is the Australian Dollar weakening against the Pound, and will it continue? (Joseph Wright)

The Pound is trading at it’s 2017 high against multiple major currencies at the moment, with the Pound to Australian Dollar sitting at an 8-month high making the conversion of Pounds into Aussie Dollars a much more attractive proposition than it was for much of last year (after the Brexit vote).

The Pound has been slowly climbing since UK PM, Theresa May announced a snap election in June, and as the conservatives gain a more favourable position within the polls we’re seeing the value of sterling continue to climb.

At the same time the commodity currencies such as the Aussie Dollar have been struggling, as commodity prices have tumbled recently which is likely to have a knock on effect to the Aussie Dollars value as the Australian economy is negatively impacted as a result.

Just last week the price of Oil, Iron Ore and Copper all fell by 7% along with Gold which fell by 3%.

Tomorrow is likely to be a busy day for the GBP/AUD pair as a number of key data releases are due out. UK Interest Rates will be announced along with Inflation data and UK GDP, so there could be some major moves tomorrow. Feel free to get in touch if you wish to be kept updated regarding these releases.

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.