Tag Archives: GBP/AUD forecast

GBP/AUD Rates Drop During Tuesday Trading (Matthew Vassallo)

GBP/AUD rates have dropped during Tuesday’s trading, which is a likely market reaction to RBA governor Glen Stevens speech last night, in which he was very positive regarding the Australian economic recovery. He stated he was happy with the current monetary policy and despite confirming he would act again if necessary, the markets have reacted positively to his statement.

This positive spike is likely to push GBP/AUD rates back toward 1.80 on the exchange, so if you have a short-term AUD requirement it may be worth looking at our forward contract options. This allows you to lock in an attractive exchange rate for a set period of time, without being concerned if the exchange rates get worse during this period.

The AUD has struggled against most of the major currencies recently, in particular the Pound. Although it has moved away from the lows witnessed at the turn of the year, the AUD has lost over 40 cents from the highs of 2013. This has allowed the Australian economy to kick start its export industry again and we are now potentially seeing the start of a recovery. Whilst I do not anticipate a move back to 1.40 we could see GBP/AUD rates breach 1.75 before the end of the year, if the improvement seen in the Australian and Chinese (Australia’s largest trading partner) economies continue.

If you have an upcoming currency requirement and would like to be kept up to date with all the latest market movements, or simply wish to compare our award winning exchange rates with your current provider, the please feel free to contact me directly at mtv@currencies.co.uk

GBP/AUD Levels Drop Following Positive Chinese Data (Matthw Vassallo)

GBP/AUD rates have dropped slightly over the past 24 hours, following the release of the latest Chinese GDP figures. Rates were sitting close to a 3 month high but despite the positivity surrounding the UK economy, Sterling was struggling to make any serious moves towards the four year highs we witnessed at the start of 2014. If we are going to see rates put pressure on 1.90 again, then another shift in market conditions is certainly required. Whether this is an interest rate hike by the BoE, or further cuts by the RBA, it needs to be significant enough to drive Sterling up by roughly another 7 cents.

Personally I feel this is unlikely in the current climate and even more so following the release of the latest Chinese data, which has boosted the AUD. The Australian economy relies so heavily on positive growth in China (they are Australia’s largest trade partners), which means that the AUD is likely to find market support in the short-term following the release and a move back towards 1.80 is now a strong possibility.

The current levels still offer some excellent buying opportunities and if you do have an AUD purchase over the coming months it may be prudent to consider a forward contract around the current levels; in order to protect yourself against any potential market losses.

If you have an upcoming currency requirement and would like to be kept up to date with all the latest market movements, or simply wish to compare our award winning exchange rates with your current provider, then please feel free to contact me directly at mtv@currencies.co.uk

GBP/AUD Rates Drop During Tuesday Trading (Matthew Vassallo)

GBP/AUD rates have dropped during Tuesday’s trading, following worse than expected UK economic data this morning. Industrial and Manufacturing Production data came out below market expectation and this caused the Pound to fall against most of the major currencies. GBP/AUD dipped below 1.82 at the low, although has recovered above this level by close of European trading.

Key data for the rest of this week includes Australian consumer confidence figures, which are release overnight and unemployment data out overnight on Thursday. The latest unemployment figures are expected to get worse and if this prediction is accurate, we could see GBP/AUD rates move back above 1.83 on the exchange. On the UK’s side all eyes on the Bank of England’s (BoE), which are released on Thursday. Although interest rates are expected to remain unchanged at 0.5%, any mention of prospective hike is likely to benefit the Pound.

If you do have an upcoming currency requirement and would like to be kept up to date with all the latest market movements, or simply wish to compare our award winning exchange rates with your current provider, then please feel free to contact me directly on mtv@currnecies.co.uk

GBP/AUD Rates Edging Towards 1.82 (Matthew Vassallo)

GBP/AUD rates are back through 1.81 following a positive move for the Pound today. The AUD had started to creep back and it seemed as if a move back under 1.80 was on the cards but once again negative news from Australia, coupled with the positive UK data already discussed, pushed GBP/AUD back above 1.81. By close of European trading rates were edging ever closer to 1.82 on the exchange and I wouldn’t be surprised if tomorrow’s data pushed the currency pair through this level.

Looking forward and overnight Reserve Bank of Australia (RBA) governor Glen Stevens is talking and we will also wake up to the latest set of Retail Sales figures, which if positive could help to support the AUD around its current level.

If you have an upcoming currency requirement and would like to be kept up to date with all the latest market movements, or simply wish to compare our award winning exchange rates with your current provider, then please feel free to contact me directly on mtv@currencies.co.uk

GBP/AUD spikes to 1.8177 representing an attractive buying AUD rate.

The Australian Dollar has been weakening against a host of the majors after the Reserve Bank of Australia kept interest rates on hold a couple of days ago and last night their latest trade balance figures tipped GBP/AUD up into the late 1.81′s spiking at 1.8177. There was a severe weakening in the trade deficit and recent comments by the RBA Governor Glenn Stevens stating that it is unlikely we will see any further movement in the base rate of interest in the near term has caused the AUD to slide.

Looking forward it still seems unlikely we will see the pound rise to the highs of the year which spiked over 1.90 but I do not expect to see the rate fall below 1.80. If you are looking at buying or selling the AUD and would like to make a saving on your currency exchange by achieving a better rate than what the banks in the UK and Australia would offer then please feel free to contact myself Ben Amrany at bma@currencies.co.uk I will explain the service we can provide and all teh options available to you in securing an attractive rate of exchange.

Thank you for reading

Ben Amrany

bma@currencies.co.uk

GBP/AUD Holding Firm Above 1.80 (Matthew Vassallo)

GBP/AUD rates are continuing to hold firm above 1.80 on the exchange, despite a mixed bag of data for the UK over the past week. Poor UK Retail Sales figures halted the Pound’s momentum and better than expected unemployment data also helped to boost the AUD, briefly pushing the pair back under 1.80 before a recovery for Sterling this week.

Mixed messages from Bank of England (BoE) governor Mark Carney over when UK interest rates are likely to be raised, are causing some uncertainty in the markets and this could be the reason Sterling has not pushed on towards 1.85 against the AUD. Despite this I do anticipate that UK interest rates will be raised before the Reserve Bank of Australia (RBA) shift their base rate and for this reason I believe GBP still has further scope for improvement. We also need to be aware that the RBA still feel the AUD is too strong, which in turn is having a negative impact on their export industry.

If you have an upcoming currency requirement and would like to be kept up to date with all the latest market movements, or simply wish to compare our award winning exchange rates with your current provider, then please feel free to contact me directly at mtv@currnecies.co.uk

GBP/AUD Rates Holding Firm Above 1.80 (Matthew Vassallo)

GBP/AUD are once again trading above 1.80, following a mini revival for the AUD over the past couple of weeks. Rates had spiked below this level off the back of better than expected employment data and it did seem as though this positive momentum would continue and help move the AUD back towards 1.75 on the exchange. However, following the BoE minutes released this week, Sterling found further market support and this has pushed rates back towards the current levels.

Next week is very quiet in terms of economic data releases, especially for the AUD. Therefore any major market spikes on the currency pair, are likely to be instigated on the UK side. Investors will be keeping a close eye on Tuesday’s BoE inflation report and BoE governor Mark Carney’s address on Thursday, both of which could cause additional market fluctuation.

If you have an upcoming currency requirement and would like to be kept up to date with all the latest market movements, or simply wish to compare our award winning exchange rates with your current provider, then please feel free to contact me directly at mtv@currencies.co.uk.

Australian Dollar Forecast is positive for the Aussie

The Aussie has been slowly gaining against most currencies as the worst fears of interest rate cuts and a slowdown in China fail to be realised. This week and next is a range of Australian economic data due which may well provide a small spike for anyone buying Australian dollars to take advantage of. Call our trading floor to get the latest news and to be kept up to speed! You can call me on 01494 787 478 to discuss the exact forecast specific to your requirements.

Sterling is on the up and I would have to favour the pound longer term, I think therefore anyone selling AUD should move sooner, if buying hold on. And if in Australia or any of the hot countries we send money to, make sure you don’t forget your sunscreen! That is certainly something you won’t need int he UK today :)

For more information on how to get the best exchange rates buying Australian dollars please contact me directly on jmw@currencies.co.uk

Aussie Dollar pars gains

The pound has risen against the AUD as Mark Carney’s speech indicated interest rates could rise sooner than expected. I would personally not be surprised to see GBPAUD rates climb higher on the back of this much improved situation for AUD buyers. Should you be looking to make a currency exchange now is a very good time to consider your options. I would personally not be hanging around too long should levels dip- back below 1.80.

If you would like more information on the best way to move money internationally please contact us or me directly jmw@currencies.co.uk.

 

How will the Aussie react to events this week?

Overnight Australian GDP came in stronger than expected which has helped the Australian dollar to cement some of the more recent gains against its peers, notably sterling. With the outlook having previously been fairly balanced as to between whether or not the RBA (Reserve Bank of Australia) would raise or lower rates, it would appear now there is more chance of a rate hike than a cut down the line. This gearing towards a possible tightening of rates is something that will perhaps be more evident over the longer term but is something anyone with an interest in the Australian dollar should take note of.

Looking a bit closer at upcoming events I would highlight tomorrow’s ECB (European Central Bank) and Friday’s US jobs data as big market movers fort he Aussie dollar. This is all because the Australian dollar is a commodity currency which reacts to the sentiments of global markets. Let me give you an example; say there is an increase in perceptions the global economy is improving, the Aussie should strengthen as investors anticipate the Australian economy will benefit due to their abundance of natural resources and connected industries. On the flipside when there are perceptions the global economy is struggling the Aussie may weaken as investors anticipate their economy may suffer.

Around 80% of currency transactions are speculative so an awareness of what drives these speculative moves is essential to understanding currency movements particularly on the Aussie. If you need to buy or sell the Australian dollar we work as specialist currency brokers and can offer assistance on moving funds internationally at the best rates. Please feel free to contact the author directly on jmw@currencies.co.uk