Tag Archives: currency transfer
Do you want to beat your bank rate? Better rates of exchange than your banks. (Ben Amrany)
Do you bank with Westpac, National Australia Bank or Commonwealth Bank? Are you tired of the rates of exchange that they offer you? If so then get a better rate of exchange on any volume through us!!!
I have been assisting clients make savings on their currency exchange over their Australian bank by an average of 2% This week alone I have helped clients save thousands over these banks as the rate they offer is not competitive. If you are looking at maximising your currency transfer and want to achieve as much as possible then feel free to contact myself Ben Amrany at bma@currencies.co.uk
As the Australian Dollar has been significantly weakening against a range of the major currencies I have been inundated with clients both buying and selling their Aussie Dollars. With the pound now pushing towards a four year high against the AUD after recent interest rate cuts and negative comments from the Reserve Bank of Australia we could see this trend continue into 2014. The last thing you want is to see your hard earned money get wiped away by a falling Aussie Dollar. The rate moved in your favour by over a cent yesterday but the pound is already starting to come back so it shows you how quickly you have to act on a spike in the market.
If you have Australian Dollars to sell against any of the major currencies then my recommendation would be to act sooner rather than later to minimise your risk to the fall in the AUD. I have been assisting clients move their funds to and from Australia for over 6 years now and I never have a problem in achieving better rates of exchanges than your banks in Australia and the UK. This week alone I have had many clients shocked at the rate Westpac for instance have been offering their clients to both buy and sell the AUD. If you feel that you would like to investigate the personal service that I offer and how we achieve better rates than your banks then just email me with your requirement explaining your time scale and volume that you are looking at exchanging and I will contact you to explain the options available to you. Just email me at bma@currencies.co.uk
If you are in the situation needing to move money internationally and looking for the best price – please feel free to contact the author – Ben Amrany – via the telephone number at the top of the page or via email at bma@currencies.co.uk
The Aussie should strengthen
The Australian dollar should strengthen soon as investors risk appetite increases. I expect this to happen once the US debt ceiling issue is solved and the next week will be crucial. In order to really get the best exchange rate it is necessary to be prepared. How will you even know you are getting the best rate if you haven’t made any preparations? This site offers information on what to beware of plus access to the very best rates of exchange and tools to limit your currency exposure. Even if you are inexperienced in such matters, we can help explain what will move your exchange rate and this will help you to get more for your money. My personal contact details are at the bottom of the post if you have specific questions.
Key things that moves Aussie exchange rates
Global Sentiments – As and when market sentiment is positive (good for the Aussie) or negative (bad for the Aussie) the Aussie fluctuates. Market sentiment can be evidenced by global economic conditions. Right now the US impasse is proving the big talking point, as is the possible effect of all of this on QE tapering in the US.
China – As Chinese economic conditions improve or decline so does the Aussies fortunes. The slowing pace of growth in China has been a major driver for AUS weakness this year.
Economic conditions in Australia and also the respective countries of the currency pair you are considering will also impact rates. Right now the pound is posting good economic news and this has helped sterling to spike to the near 3 year highs in the last couple of months.
The forecast on the Aussie leading to Christmas would be AUD strength. For now it looks highly unlikely we will see any withdrawal of the US QE programme which should keep the Aussie favoured as confidence remains high.
If you are considering a currency exchange in the future and wish to find out more about what will move your rate and secure better rates than you rbank or broker please speak to me on jmw@currencies.co.uk
I look forward to hearing from you.
Bloody oath mate!! Flaming Galah! Where next for the Aussie?
Rates above 1.60 had been rarer than a 3 legged dingo up until a few months ago! But now like a kangaroo on speed rates have hopped higher presenting three year highs for anyone buying Australian dollars! Well I will be a wallabie’s tail! Where now?!
Well if the Reserve Bank of Australia keep their more optimistic mood a stronger Aussie could not be ruled out. Although I think there is more chance of Kylie and Jason getting it back together in Neighbours than any rates lower than 1.50 again!
Humour (or my jovial perhaps pathetic and not meant to be offensive at all attempt at it) aside, rates are good. And so long as the UK appears to have it’s act back together rates should remain at the higher end of the last few months, that is between 1.60 and 1.80. If you have a currency transaction to consider buying or selling AUD into any currency, we would be interested to hear from you.
We are specialist currency brokers who can offer much better rates than the banks and other sources.
Please contact me on jmw@currencies.co.uk with any feedback or enquiries!
Key Information on why the Aussie will weaken further!
To the dismay of many and the joy of the others the Aussie has been one of the biggest losers this year. The high to low is an incredible 30 cents difference. On a $500,000 AUD transfer this make a difference of £59113.30!
This just shows how important the actual timing of your transaction is when moving money internationally. If you are buying or selling Australian dollars there are some key events to take note of, the trend to me would appear to be further AUD weakness.
- Federal Reserve Tapering – The US Federal Reserve Bank has kept the Aussie well supported with the surprise news the US will keep the QE flowing. This encourages investors to take up riskier positions on commodities and assets that benefit when the global economic mood is optimistic. As Australia’s economic strength is linked to global demand of their natural resources, the Aussie has benefited from signs QE will keep flowing which will keep global demand high.
BUT… the Federal Reserve have said they will taper at some point once the US economy is strong enough. There is no timescale on this occurring but when it does happen it will surely lead to Aussie weakness as investors reconsider where to position their funds.
- Australian Interest Rate decision – Weaker than expected Unemployment has led some to assume further RBA cuts are on the horizon. This will surely also lead to AUD weakness too!
All in all a strong pound and euro will make it much harder for AUD sellers too. For a free, no obligation discussion of where rates may be headed please speak with me Jonathan directly on jmw@currencies.co.uk
UK Retail Sales Disappoint leading to Aussie Strength (Tom Holian)
GBPAUD exchange rates have dropped below 1.70 again today as UK Retail Sales came in much lower than expectation. The data was expected to be 0% but the actual figure showed a drop of -1.1%. With results so low this has seen Sterling fall across the board and drop to one of its lowest level for a few weeks against the Aussie. Since the release this morning the UK also announced that the manufacturing sector is looking better.
The Confederation of British Industry said that orders were the highest since 2008 and car production at its highest since the start of the economic crisis. Retailers said early last week that they were concerned of a false dawn in the high street so it could be argued that the warnings of a drop were already in place.
The OECD has upgraded the UK’s growth forecast by 1.5% this year up from its previous release of 0.8%. If this forecast comes true expect to see Sterling gain strength against the Aussie during this quarter. There’s not much out tomorrow so exchange rates are likely to remain relatively stable although I do expect Sterling to strengthen back after today’s unexpected drop.
If you need to make a currency transfer and want to save money then feel free to contact me via email Tom Holian teh@currencies.co.uk
Buying Australian Dollars? (Tom Holian)
With the US Federal Reserve meeting due to take place this evening all eyes will be on whether they will or won’t taper their current Quantitative Easing plan which involves USD85bn per month. If tapering does take place we could see some quick US Dollar strength and a period of uncertainty for the Aussie Dollar.
There are two arguments both for Australian Dollar weakness and strength for the AUD. If the Fed do taper from their current USD85bn we could see Dollar strength which could mean investors moving away from riskier currencies including the AUD but on the other hand if we see the US economy improving it could risk appetite and therefore a demand for the Aussie. Until the announcement comes out tonight the currency markets will remain volatile in the run up to what will happen tonight.
The Bank of England minutes came out a few moments ago and showed a 9-0 vote against changing UK interest rates and also keeping QE on hold. This suggests that the MPC sees the UK economic recovery continuing. According to Mark Carney’s recent Forward Guidance interest rates in the UK will be kept on hold until unemployment falls to 7% or lower.
During most of 2013 the UK economy has gone from strength to strength with also Sterling improving against the Australian Dollar for the majority of this same period.
If you’re thinking about making a currency transfer and want to ensure you’re getting competitive exchange rates feel free to contact me directly Tom Holian teh@currencies.co.uk
UK Interest Rate Decision Due Shortly (Tom Holian)
With the UK interest rate decision due in an hour’s time what can we expect for GBPAUD exchange rates later today?
Sterling has had a very good run of late against many of its major currency pairs as UK data announcements appear to be improving. The UK Service Sector released yesterday was the best figure seen in over 6 years, manufacturing is at a 6 year high and the UK construction sector is the biggest increase seen in over 2 years thing look rather rosy for the UK and therefore Sterling.
However, with the recent improvement for growth in China the best in 16 months and the RBA announcing this week that they will keep interest rates on hold this month this has created a short term period of Aussie Dollar strength with AUD sellers seeing a handful of good opportunities to take advantage of this short term spike.
If Mark Carney makes an announcement shortly after the UK interest rate decision we could see some unexpected movement on GBP AUD exchange rates for the afternoon’s trading session. Shortly after the UK interest rate decision the European Central Bank will also discuss their policy with Mario Draghi set to speak at 1345pm UK time.
The Australian Dollar has moved by over 2% this week meaning a difference of over AUD7,00o on a £200,000 currency transfer. This demonstrates how volatile the currency markets have been this week and highlights the importance of using an experienced currency broker when deciding when to buy or sell Australian Dollars. With ten years experience moving currency I am confident that I can help you save money on exchange rates compared to using a bank. Feel free to contact me directly Tom Holian teh@currencies.co.uk
