Tag Archives: dollar
The Australian Dollar has lost ground against most major currencies in trading today following comments from the Governor of the RBA (Reserve Bank of Australia) mentioning that he would be keeping an open mind on intervention to weaken the Australian Dollar in the near future.
This confirms the constant opinion that the RBA feel that a strong Australian Dollar is damaging the Australian economy and that there is certainly further scope for another interest rate cut in Australia in the near future.
An interest rate cut is generally seen as negative for the currency concerned and a hike in rates positive so a cut in rates again may further weaken the Australian Dollar and even the pure speculation of this and other possible measures coming into play may weaken the Australian Dollar further against the Pound and could push Sterling – Australian Dollar rates closer to 1.80 in the lead up to Christmas.
Of course anything can happen as we all know though so if you do have a pending currency transfer to carry out and you want to get the very best rate of exchange for it along with having a proactive, knowledgeable and vigilant currency broker on your side then please do feel free to contact me directly and I will be happy to help you.
You can email me directly on email@example.com with a description of what you are looking to do and a contact number and I will be more than happy to get in touch.
Sterling rises against the Australina Dollar but could Chinese manufacturing data this evening turn the spike around? (Daniel Wright)
As Sterling approaches the 1.70 mark yet again during this afternoon’s trading our heads turn towards key Chinese manufacturing data which is due out a little later on tonight.
With China being a major importer of Australian materials any boost to Chinese economic data can lead to the Australian Dollar gaining significant strength as it implies that Australian data may follow suit further down the line.
We had fairly positive data from China last week and expectations are for the figures this evening to also be fairly solid.
You never actually know just what will come out in this current climate but it would not surprise me to see the Australian Dollar just fall shy once again of going above and beyond the 1.70 mark after coming down from that level a few weeks back.
If you have a requirement approaching to either buy or sell Austrlian Dollars and you want to get the very best exchange rate for your upcoming transaction then it may be prudent to get in touch with me directly. You can email me on firstname.lastname@example.org with a brief description of what you are looking to do with a contact number and I will be more than happy to assist you.
FOMC minutes could have a big impact on the AUD. Get the best deal on your foreign exchange (Mike Vaughan)
On what has been a relatively quiet weak for the pound most eyes this evening will focus on the release of the FED interest rate decision and accompanying FOMC minutes for any hint as to when the FED may begin to taper QE. For me it is highly unlikely they will do anything before the New Year but it is certain to be on their mind.
Any hint from the minutes as to when it may occur it and we could see some strength for the US dollar. For me currency movements across the board will hinge on the FED and its ‘will they wont they’ approach to QE. When they eventually do look to reduce QE it is likely the so called ‘riskier’ currencies such as the AUD, NZD and ZAR will be the major losers as a reduction in liquidity in the market will reduce investment flows to these currencies and so cause a reduction in their respective value, the problem we have is how long will it take for the FED to cut QE? The answer is likely to be months not weeks.
Should you have a future bank to bank currency requirement and you would like to discuss my views and opinion on the current market then please get in touch. I work for currencies.co.uk a well established execution only broker with multiple contracts available to aggressively undercut the banks. To run through the service we provide and to get assistance with your money exchange please contact the 01494 787478 or email Mike at email@example.com
Sterling – Australian Dollar exchange rates remain below 1.70 – Will the U.S Issue lead to a big swing?
The Pound has seen a fairly poor start to trading this month dropping against almost all major currencies so far notably dropping away from the 1.70 mark against the Australian Dollar after looking like it may really push onwards and upwards.
Economic data has been fairly poor for the U.K and with only the Bank of England interest rate decision leaving little to wet investor’s appetite this afternoon the Pound is finding it a bit of a struggle to gain much ground back.
Everyone with a currency transfer to make in the near future also need to be wary of the current situation over in the States as the ‘Debt ceiling’ deadline is slowly closing in.
The U.S have until the 17th October (a week today) to resolve this issue otherwise you could technically say that they have defaulted on their debt and this could have a huge effect on the currency markets.
Personally I feel should this happen then we may see the Dollar weaken again and the riskier currencies (AUD, NZD, ZAR) may also suffer as it could affect global attitude to risk.
Being something that I have not seen before it is tough to know exactly what this may bring to the market but I would imagine either way we will be looking at an extremely volatile and fragile market.
With this in view if you have a pending currency transfer to make it may be prudent to look at putting a stop loss or a limit order in place to protect yourself from adverse market movements or to take advantage of a good shift in your favour outside of normal trading hours.
A stop loss is where you can set yourself a worst case scenario and should the market suddenly drop rapidly then your currency gets bought out automatically, with a limit order it does the opposite and takes advantage of a spike in the market for you if a particular level you wish to achieve becomes available.
For a full explanation of these free options then feel free to contact me directly on firstname.lastname@example.org with a brief description of your situation and I will be more than happy to get in touch personally.
I look forward to speaking with you.
With no clear reasons to buy into Australian currency traders avoided it today looking for safer options amongst sterling. Sterling rose against most currencies after some positive data sets for the UK underlined the general improvements in the UK economy.
Tapering of some description will happen at some point and this for now is a good reason to avoid the riskier currencies and look for more certain safer bets. I wrote recently why the Aussie is bound to weaken further in the coming weeks and months and you can read this here. Essentially there are too many things that are bound to weigh on investors minds when considering investing in the currency. I think therefore rates will remain very favourable for AUD buyers (particularly with Euros and sterling as these currencies remain strong) but AUD sellers may be disappointed holding out for too long.
Getting the best deal on currency is no easy task! Technically it is actually impossible to get the ‘best’ rate since you only know when you have reached the high or low once you have passed through it and the rate has gone back the other way. However armed with the right information and approach you can easily maximise your purchase with a bit of planning and guidance.
I work as a specialist currency broker assisting clients all over the world to achieve the best exchange rate. Each individual client’s situation will require a slightly different approach which we can quickly assess during a phone call. For more information on our services please speak with me Jonathan on 00 44 1494 787 478 or email email@example.com
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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 firstname.lastname@example.org
The GBP/AUD exchange rate has stayed fairly stable at around 1.70 of late whith the market seemingly undecided on where to head next.
Tomorrow night has the potenital to really move the markets as we have the Federal Reserve interest rate decision over in the States.
No change to interest rates is expected however the key point of focus will be whether or not the Federal Reserve move forward with tapering their QE (Quantitative Easing) plan.
Should the Fed move forward with slowing down QE then global attitude to risk may increase and the Australian Dollar could strengthen as it could be seen as a positive for the world economy as a whole however should the recent negative data that we have seen coming out from the states make the Fed think twice then we may see quite the reverse.
Tomorrow morning we have the Bank of England minutes which have the potential to shift exchange rates too however I would be surprised to see anything major come from this release.
If you have a pending currency transfer to carry out and you want to receive the very best rates of exchange then feel free to get in contact with me directly by email on email@example.com and I will be more than happy to help you.
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