Tag Archives: currency
The best Australian dollar rates for three years! Three years! Many had actually written off even getting rates back above 1.60 let along 1.70. These are some very interesting times for the GBPAUD and EURAUD rate, the next big event will be the Federal Reserve decision next week. This could really help those buying AUD if the Fed do decide to ‘taper’ their QE purchases.
The AUD is seen as a riskier asset so if the Fed do not turn off the QE taps the Aussie will weaken as investors pull funds from this asset. Conversely the AUD may strengthen if the Fed do taper. Investors will will be concerned about the outlook for the global economy and will look to move funds to ‘safer’ assets like sterling and the USD.
All in all the current excellent levels should not be easily dismissed. For a full discussion and overview of the current market please contact me Jonathan directly on email@example.com
The Australian Dollar Sterling pairing has remained over 1.70 for a fortnight now and it seems likely the 1.70 level will not be threatened again for some time. In fact I personally think it is more probable that we see GBPAUD over 1.75 before we see it fall below 1.70. The key data this week to drive this paring is Wednesday and Friday.
Wednesday Bank of England Governor Speech to Parliament
This has the potential to have a big impact on the market or nothing at all. It really depends on what is spoken about and the topics of discussion. On the cards will be UK growth, interest rate change and QE stimulus. Each of these have a large impact on the market so if any of these topics are discussed and if he gives a different view than what is currently priced into the market expect a large move. The other event that none of the above could be discussed keeping rates flat at that time. It is an event which people with currency exposure should be aware of and prepared for.
If you for example are weeks away from needing to complete a currency trade, just watch. However if you are nearer to your deadline or your current limit then LIMIT ORDERS and STOP LOSS orders are the tools to exploit. Contact us here for more information via firstname.lastname@example.org or on the normal telephone number asking for myself – Steve Eakins.
Friday – UK data and the close of the month
The data for the UK includes Mortgage approvals and Net Lending figures. These generally are expected to show an improvement so expect perhaps some sterling gains. We also at that time have the closing day of the month meaning Carry trades and Profit taking could have a large impact. This is when financial institutions and speculators take the profits they have made on the month and reset their investment levels. With this additional demand for the currency it can have an short term impact on the AUD creating opportunities for the quick minded.
SPIKE Notifications and Rate Alerts are the tools to use at this point, again contact us here for more information via email@example.com or on the normal telephone number asking for myself – Steve Eakins.
If you are trading the AUD or any other currency feel free to get in contact for an independent review of the markets, the trends that could help, data around the corner and strategy options. Plus with our award winning exchange rates you will be happy to know there should be a saving against your current provider as well. After all – if we could not save you money we would not be in business.
Contact us via the normal methods of the telephone (asking for Steve Eakins), email at firstname.lastname@example.org – or by filling in the enquiry form.
Sterling has rallied nearly 1% against the Australian Dollar. Overnight the Bank of Japan increased stimulus as it aims to double the monetary base over two years through the aggressive purchase of long-term bonds, in a dramatic shift aimed at ridding Japan of the deflation that has dogged the country for almost two decades. This is a bold move for the new central governor Haruhiko Kuroda and may shift investors risk apetite. As a result the JPY has devalued and with the Yen often heaviliy involved in currency speculators risk portfolio this may create significant shifts in currency trends over the coming days creating volatility for the safe haven currencies (historically USD and CHF) and many riskier assets such as the AUD, NZD, ZAR and EUR. Watch out for some big shifts over the next few working days, and possibly some unexpected opportunities for AUD buyers.
Should you have any upcoming money transfers to arrange and you have found this blog useful then why not contact us to see what we can do for you? The purpose of the site is to give you independent market views to help you make an informed decision with your currency exchange. By giving yourself as much information as possible it can put you in a far stronger position when attempting to maximise your currency exchange, allowing you to limit your exposure to adverse market movement. Should you wish to find out more about the specialist currency service we provide, whether you are a private or corporate client, then we can help. Please get in touch either on 01494 787478 or by emailing me with a brief description of your individual requirement and I will happily contact you and run through your options. You can reach me direct at email@example.com
GBPAUD has rebounded after touching the lows of 1.50 over a week ago. Australia has called an election for September which has potentially created some uncertainty. I expect the Aussie will weaken in the short term and that we could see some better buying levels, however these are unlikely to be sustained.
Tomorrow we have the HSBC Manufacturing PMI from China which is usually one of the big market movers on AUD as the Chinese economy is one of the big drivers of Aussie strength.
The current trend lately has been Aussie strength and there does appear to have been a little uncertainty creeping back into the market, particularly with the US economy reporting -0.1% growth this week. I expect the Aussie could weaken by a cent or so tomorrow unless the PMI data is much better than expected. If you are buying Aussies this could be a good time to buy since generally speaking the UK and the pound is suffering at the moment.
If you have an AUD currency transfer to consider why not get in touch to be kept up to speed with the latest news and events that will move your rate. We always aim to get our clients much better rates than other sources and would be pleased to speak with you to ensure you don’s suffer at the hands of bad exchange rates or complacency. Please feel free to contact me Jonathan directly on 00 44 1494 787 478 or email me firstname.lastname@example.org for more information.
I look forward to hearing from you, thank you.
With Hurricane Sandy seemingly passed through the US and coming to an end the clean up operation has already started. With a few million people still without power and the New York Stock Exchange having closed yesterday for the second time in over 27 years the currency markets have been holding their breath before they decide their next move. It doesn’t appear that the cost is too devastating to the US which was the initial fear about its impact on the economy. With this is mind the USD has maintained its range for EURUSD GBPUSD & AUDUSD.
Moving the focus more directly to what is happening to the Australian Dollar at the moment one of the reasons why it has remained quite strong during October is that the various stimulus programmes in both Europe and the US have kept the AUD very strong but also with the potential to cause the RBA to look at cutting interest rates again. Personally I don’t think we’ll have a cut during November as the RBA will take a pause to see if the recent rates cuts have had the desired effect. Indeed, the stimulus has reached USD5 trillion in government bonds and mortgage securities which have appeared to cause the modest global recovery.
The demand felt by overseas investors in Australia has kept the currency strong even with the interest rate cuts earlier this year so until the RBA is more in line with Europe, the US or the UK I don’t think the currency will experience a huge movement purely by interest rate movements.
If you have a currency requirement and would like to save money when buying or selling Australian Dollars please feel free to email directly with how to do so Tom Holian email@example.com
Pound exchange rates have continued their recent strong run against the Australian dollar breaking through the 1.58 barrier for the first time in 4 months and bringing losses for the dollar to nearly 7% since the first week of August. This is a difference of AUD 22,000 on a £200k position. Should you be looking to buy dollars in the near future then I feel this may represent a good time to take advantage. Likewise should you be selling dollars in the near future and do not have full availability of funds, a forward contract may well be something you wish to consider. This contracts guarantees your rate for a delivery period in the future, to discuss this contract and the process in more detail please email me on firstname.lastname@example.org
Will the AUD break 1.60?
I feel the pound will meet resistance at these levels and would expect sterling values to fall in the coming months as QE in the UK is likely in November. Yes we may see another interest rate cut in Australia however I do not feel this will happen until the new year. I feel GBP/AUD is reaching its peak short term and can see a correction to 1.55 with a move back towards the 1.60 territory in Q1 2013.
To discuss my views and your thoughts on the current market conditions please contact me either by email at email@example.com or by calling 01494 787478. Having worked in the currency markets for over 6 years I have assisted numerous clients with their currency transactions, ranging from property completions, monthly mortgage payments and corporate transfers a like. As one of the UK’s longest running independent brokers we have access to highly competitive commercial rates of exchange that our clients take advantage of on a daily basis. Similarly these multiple sources helps keep us ahead of many of our competitors as we actively seek to get our clients the best available market prices.
Should you have an upcoming money exchange to arrange and would like more information on the service we provide as for Mike a firstname.lastname@example.org and I will gladly assist you.