Tag Archives: dollars
Australian Dollar Forecast – Key interest rate decisions For Bank of England and European central bank will affect attitude to risk
The problems in Europe have managed to stay reasonably quiet for the past week or so which, coupled with the Reserve Bank of Australia holding off on an interest rate cut has led to the Australian Dollar gaining back some ground against the Pound and various other major currencies. An interest rate cut is generally seen as negative for the currency concerned and a rate hike is seen as positive due to making it less attractive to investors, therefore the mere fact that the RBA decided not to cut has meant that we have seen a short term spike in favour of the AUD.
Because the Europeans have temporarily swept the huge problems under the carpet we have seen attitude towards risk slowly gather pace which has also led to the AUD pushing on a little. If you are looking to buy Australian Dollars then further large problems within Europe becoming front page news again instead of the U.K bankers would be welcomed and should push the rate in your favour.
Tomorrow is also key as we have the interest rate decision and press conference for the European Central Bank and the U.K interest rate decision. Should the BOE decide to inject further Quantitative Easing into the U.K economy we may see the Pound weaken, last time around members of the BOE voted just 5-4 against it which suggests the decision was fairly tight and that just one more member changing their mind may lead to it being introduced… QE is usually seen as negative for the currency concerned.
On the other hand the European Central Bank are due to release their decision shortly after followed by a press conference, which is notoriously shaky and can lead to high volatility for both the Euro and currencies that are linked to risk so be aware they may throw anything into the mix.
Should you have a transaction to carry out involving Australian Dollars or indeed any other major currency and you wish to achieve better rates than your bank or current broker then I am highly confident I shall be able to save you money and offer you a better service than you currently receive.
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The GBP-AUD rates have remained fairly rangebound at the start of this week with rates testing the 1.57 (0.6370) mark this afternoon. As we have seen of late these currencies are being highly effected by investors attitude to risk
and seeing further problems for Europe could well lead to these becoming even more jittery. I personally can see a spike occurring against these currencies for the Pound if the Greek election goes in favour of the Anti-Austerity party.
Many clients that have contacted me over the course of this year have been looking for one of two things… Rates to get over and above 1.60 as they did for a small period of time not too long ago or rates top go back below 1.50 for those looking to sell Australian Dollars and to bring funds back to the U.K. Personally I feel we will be much more likely to see rates get up to 1.60 plus again instead of dropping back away,. however do be warned it tends to be the greedier amound us that usually miss out.
A prudent approach is to look at putting a stop loss or limit order in place.. Or indeed both – These contract options are completely free and protect you from adverse market movements – Ideal if you do fit into either of the categories above.
I work for one of the top foreign exchange brokerages in the U.K and have assisted thousands of clients when transfering to and from Australia getting much better rates than banks or indeed their current broker of choice. If you would like my assistance then feel free to contact me directly on firstname.lastname@example.org or by filling in the form on the right hand side of this page and I will be happy to assist you.
Sterling continued its strong recent run against the AUD hitting a new year high at 1.5605. I feel this run may well continue however AUD buyers should be wary of the the UK GDP figures due for release next Wednesday. The figures will officially confirm whether the UK is in recession or not and the result appears to be very much on a knife edge. Some analysts are suggesting negative growth could be seen and the UK would then be back in recession for the end of Q1 2012. I personally think we may just scrape through with a positive figure, but I do think it will be close. For anyone with a short term transfer to arrange it certainly could be one to avoid.
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