Tag Archives: euro
Whats in store for AUD today? GBP/AUD, AUD/EUR forecast
Yesterday the Australian Dollar retraced some of its recent losses against the pound but was too see some further losses against the Euro. Coming into the office this morning and the Australian Dollar has seen some heavy losses against the Euro moving a cent from the high/low already, the pound has also seen some strength pushing back towards the 1.55 territory opening the day at 1.5430. The AUD weakness can in some ways be attributed to poor consumer confidence figures from Australia overnight, continuing a recent trend of softer data coming from Australia.
Whats in store today?
This morning anyone looking at GBP/AUD should watch out for the Bank of England minutes scheduled for release at 09.30. For me I would not expect to see any dramatic announcements as Sir Mervyn King is coming towards the end of his tenure as the head of the central bank and for this reason is unlikely to look to adopt any significant policy changes as a result, this is likely to be left in the hands of the new governor Mark Carney who takes over in July. Personally I think the minutes could be a slight non-event but certainly any nod to a change in interest rates of further QE and the GBP/AUD could swing either way.
For anyone looking at EUR/AUD European consumer confidence figures are scheduled for tomorrow and expected to show a slight improvement which may well lend further support to the Euro. Historically AUD rates are still very strong against the Euro and Pound but this trend appears to be shifting.
As you can see we have plenty of data released for the rest of the week. To be kept up to date with the impact these data sets may have for your individual requirement then please contact me and I will happily run though my forecasts and run through the various contracts we can offer to help maximise your currency exchange. I am very confident I can help achieve a better rate than your current provider. Please call the office on 01494 787478 or email me (Mike) with a brief overview of your requirement and I will gladly contact you to help with your money exchange. I can be reached at mgv@currencies.co.uk
Sterling Australian Dollar rates getting close to 1.50 again (Tom Holian)
Sterling vs Australian Dollar exchange rates are getting close to hitting 1.50 again in the run up to the Fed’s interest rate decision due tomorrow evening. Uncertainty in the markets as to what the Fed may do with economic policy means that riskier currencies including the Australian Dollar are feeling a little negativity during today’s trading session. China’s recent slowdown has created a few buying opportunities above 1.50 during April but gains have so far been short lived.
Recession in Spain and a fall in confidence levels across Europe also means that investors are concerned about the potential continued growth in Australia. With the recession due to last until next year in Spain this could have a knock on effect on the value of the Euro and a lack of confidence in global growth.
Tomorrow also sees the release of a lot of data in the US, the world’s leading economy. Employment and mortgage data is due to be released prior to the Fed’s interest rate decision so expect tomorrow to be a day of volatility on the fx markets so if you’re concerned about what to do with your currency requirements then feel free to get in contact with me directly for a free quote Tom Holian teh@currencies.co.uk
I anticipate GBPAUD exchange rates will hit 1.50 during this afternoon’s trading session.
If you have an interest in another currency pair and would like more information please click on our sister website www.eurorateforecast.com which provides more information about what is happening in the Eurozone.
GBP/AUD shifting towards 1.50……
Sterling exchange rates have shifted over a cent from the high/low today and again have shifted on the side of sterling, pushing prices close to 1.49. Will this shift push past 1.50? For me this will depend on whether the UK can avoid the ‘triple dip’ recession, something we will officially find out on Thursday. I for one am confident a 0% or 0.1% figure will be seen and we should hopefully see some sterling strength as a result. This could provide many, particularly those that that have been waiting for 1.50, with an opportunity as I for one feel we will see 1.50 as a trade price by the end of this week.
In order for you to take advantage of any positive market movement it is important to speak to a foreign exchange epxert who can make you aware of market trends and instigate an exchange should a specific market order be in place. If you are one of the many clients that would be interested in trading at 1.50 and you would like me to set a rate alert or LIMIT contract to make sure you do not miss an opportunity then please contact the office on 01494 725353 and I will gladly run through the process. As one of the market leaders in exectution only foreign exchange I am very confident I can undercut any other provider, get in contact to see what rates we can offer and to see what saving we can make you.
Should you prefer to email then please send a brief description of your transfer and timings to mgv@currencies.co.uk
Cyprus Bailout Issue Continues & Australian Dollar Exchange Rates (Tom Holian)
Finance ministers within the Eurozone will be meeting later today to to discuss a further bailout for Cyprus. The cost of the bailout originally of €10bn has seemingly been underestimated and the figure being talked about is apparently €23bn according to Cyprus’ creditors. The EU & IMF have hinted that they will not add any more than the €10bn already agreed so Cyprus may have to raise funds from elsewhere. At this moment in time Cypriot banking controls are likely to last for another 7 days which includes limiting how much money can be transferred out of the country. The effect this is having on the Euro slightly negative and investors are also moving funds away from the Australian Dollar as risk appetite diminishes.
Although news in Europe is slowing down Aussie Dollar strength it is still testing records levels against both Sterling and the Euro. With shares in Australia boosted from the China Australia currency pact from earlier this week we could see next week more positive movement for the Australian Dollar testing levels of 1.45 again.
US Retail Sales are due out this afternoon which often causes volatility on the global currency markets as the US is seen as the global barometer of confidence so if US retail sales are better than expected we could see the Aussie Dollar strengthen up further. To be kept updated with data releases or if you have a question about how this will affect exchange rates feel free to contact me directly Tom Holian teh@currencies.co.uk Also if you have a currency requirement and want to compare rates with your bank please get in touch. Working for one of the UK’s leading foreign exchange specialists I am confident that I can save you money.
Whats in store for the AUD today? How to get the best from your money exchange…..
As we start what is almost certain to be another busy and volatile day on the money markets what factors should you be watching out for today should you have an interest in the Australian Dollar? Overnight Westpac released its latest consumer confidence figures which were substantially down. Normally I would expect AUD weakness as a result, however we have actually seen some small gains against both the Pound and Euro indicating how out of favour these two currencies are currently. For me any gains from the pounds point of view will depend on whether the UK can avoid the triple dip recession. Indications from the NIESR (National Institute for Economic and Social Research) a well respected think tank, were certainly positive and suggest that the UK may just avoid recession by forecasting 0.1% growth for Q1 of 2013. It is certainly very finely balanced, however I am confident recession can be avoided and we may see a much needed boost for the pound as a result. Anyone with an interest in GBP/AUD should keep a keen eye on GDP released on the 25th April, a key day in my view.
Shorter term look out for Australian employment data overnight tonight, forecast to stay at 5.4% month on month, any deviation form the expected could cause volatility overnight. Also watch out for the FOMC (Federal Open Market Committee) equivalent of the MPC in the US, as they will release their minutes from the Federal Reserves last interest rate meeting. This can influence investors risk appetite depending on the rhetoric from the minutes and with the AUD a favourite for currency investors it may cause market fluctuation for the AUD following its release at 19:00 BST.
To discuss the market trends and current data that might affect your particular currency transfer then please contact the office on 01494 725353. I work for one of the UK’s longest standing independent brokers I am very confident I can undercut any price you have been offered. Should you wish to test the service or discuss the contracts we have available then please email me with a brief description of your current trade and I will happily provide you with a live quote. I can be reached by email on mgv@currencies.co.uk
Pound up against the Aussie. Short term predictions
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 mgv@currencies.co.uk
GBP posts gains but Euro sees losses on volatile days trading
Sterling exchange rates posted small gains against the Australian dollar as the Euro experienced heavy losses bringing levels close to 1.24. As my colleagues have discussed in previous posts, the uncertainty surrounding Cyprus has created a great deal of market volatility and uncertainty heading into a busy trading week. With the Australian dollar still classified as a riskier currency this may well cause some big swings for the Aussie as investors will often shy away from the dollar in times of uncertainty. Tomorrows minutes from the Reserve Bank of Australia may also lead to some short term volatility and anyone with an interest in the Australian dollar should watch out for this release for any insight as to the banks stance on monetary policy, any hint towards future interest rate cuts and we could see the dollar weaken, likewise if the bank have not discussed monetary loosening then watch for dollar strength.
As a specialist currency broker we have a number of tools available to take advantage of spikes as they can often be short lived. Our aim is do maximise our clients positions and to keep them up do date with market trends. Should you have an upcoming money exchange to arrange and you would like to hear more about the currency service we provide then I would be happy to discuss the service in full. We can offer you contracts ranging from standard spot and forwards to stop/loss and limit orders, we also have a rate alert service ensuring we will contact you when a particular rate becomes available.
Having worked in the industry for a number of years I know what a difference a fraction on the exchange can make. Whether your are emigrating, importing a luxury car, settling an invoice or diversifying your portfolio then our currency service may well be of use to you. To find out more please contact the office on 01494 787478 or email Mike at mgv@currencies.co.uk for more information.
Aussie Dollar posts strong gains against the Pound but steady vs the Euro
The Australian Dollar has posted strong gains against the pound today rallying nearly 0.5% but has held steady against the single currency. This week is relatively quiet for the Aussie with the most notable data set being on Thursday with employment change figures. Figures will give clues as to the current performance of the Australian economy and could throw up some surprises for the dollar throughout the course of Thursday’s trading. Elsewhere data sets for the beginning of the week are dominated by European and UK data tomorrow with German GDP data and European trade balance figures followed by UK Inflation and Retail sales figures. Those looking at buying AUD with GBP should also keep an eye on a speech from the Governor of the Bank of England Mervyn King. King is scheduled to speak at 10:00 and historically can be overly cautious about the UK’s prospects, this could keep pressure on the pound and I see rates hovering around 1.5150-1.52.
EUR/AUD exchange rates have been relatively stable over the course of the last three months, reaching a high of 1.28 and a low of 1.22, the average trade price sitting in the region of 1.25/26. Current market levels are at 1.2652 and I personally see little change for this pairing in the coming weeks and would expect a range between 1.25/27.
As a specialist foreign exchange broker my aim is to help my clients achieve the most from their current positions. By speaking with us early and giving an idea of timings for your exchange we can run through the best contracts to help maximise your exchange. Keeping in contact with your broker is essential in the current climate with big swings experienced across most pairings. To run though our service in full and for an in depth forecast then please email Mike at mgv@currencies.co.uk
GBPAUD rates improve as prospect of further rate cuts loom… Underlying Reasons for AUD strength remain
As highlighted in earlier posts the RBA – Reserve Bank of Australia has stated and left the door open for further rate cuts in the future. Historically an interest rate cut weakens the currency concerned and indeed the AUD has weakened against most currencies today. However the overall picture and reasons for AUD strength remain. If you are planning a transfer involving the Australian dollar in the future it looks highly likely the Aussie will continue to appreciate or at least retain much of the strength that has held it at close to record levels against most currencies.
This was shown quite clearly against sterling since in the last month the pound has generally found support against a basket a currencies as the immediate threat of more QE was removed. The GBPAUD rate however fell as the Aussie found favour among traders. This was a reaction to improved market sentiment regarding China. Chinese economic data is still strong and whereas in the summer many panicked thinking that China was about to suffer a hard landing, we have actually seen the data paint a slightly rosier picture.
I therefore feel that the Australian Dollar will continue to remain strong in the future despite fears over a Chinese slowdown and indeed concerns over further rate cuts. These two issues will however provide spikes for those buying Aussies to take advantage of.
For a full no obligation discussion of all the events surrounding your currency transfers you can contact me for information. Jonathan Watson jmw@currencies.co.uk 01494 787 478
