Tag Archives: GBPAUD
Pound very close to year highs against the AUD, is there more to come?
In early morning trading the pound hit its highest level against the Australian Dollar since 2nd January reaching a high today of 1.5460 bringing Sterling’s gains against the dollar to nearly 10 cents since the beginning of April, but will this trend continue? Sterling’s moves came following the Bank of England quarterly inflation report in which Mervyn King (head of the Bank of England) was to indicate that the banks growth forecasts have upgraded and they have forecast that inflation levels will fall faster than previously indicated.
This data was to continue the UK’s recent run of stronger data and has painted a slightly more positive picture for the pound as a result. This all bodes well for AUD buyers and I still feel some more value will be seen for GBP/AUD rates for those that can be patient.
For anyone selling AUD I would still urge you to take advantage of rates that are historically still very favourable. The average trade price for GBP/AUD for the last year sits around 1.54, so with levels currently at the year average it is not all doom and gloom. For me the current trend and sentiment from Australia is a concern and I would expect rates to move towards 1.55 as I feel the central bank is still concerned about the strength of the Aussie and the impact this is having on the value of Australian exports. I would not be surprised to see another interest rate cut within the next 3 months, something that could devalue the AUD further.
Should you have an upcoming money exchange to arrange and you would like more information on the currency service we provide please contact the office on 01494 787478 or email me (Mike) at mgv@currencies.co.uk
Cutting interest rates are not enogh to weaken the Aussie Dollar for now. (Ben Amrany)
The Australian Dollar has been on a roller coaster ride since the RBA decided to cut interest rates last week. After the decision we witnessed the Aussie weaken against a range of currencies and there have since been rumours that the RBA may look at cutting rates once more next month to help curb the strengthening AUD.
Today we have seen that even a cut in the base rate of interest is not enough to halt the currency strengthening. As soon as positive data comes out of Australia it seems that the rates increase quite significantly. Better than expected jobs figures from down under have undermined the RBA’s efforts to weaken the strengthening Australian dollar. The jobless rate came in down from 5.6 to 5.5 per cent sending the Aussie to higher levels against the USD since before the interest rate cut. Against sterling the rate is still hovering at 1.52 which is actually significantly higher than the lows of 1.43 a few weeks ago.
The concerning thing for anyone who needs to buy the Aussie Dollar is that over the last year and a half the RBA have cut rates by 2% and the currency has still strengthened. This is a sign of the times that even with the historic low interest rates the Aussie is still stronger than most of its trading partners. If you are hoping that the RBA may cut again in June and that the pound will push on to 1.60 or even 1.70 I personally would not hold out for this. This month has shown that when they cut rates purely to try and spur growth the exchange rate has a habit of strengthening once more.
If you do need to move funds into or out of the Aussie Dollar please feel free to contact me Ben Amrany at bma@currencies.co.uk and I can explain the options that are available to you. We offer a very personal service to help you maximise your exchange while offering savings of up to 4% over the high street banks.
Ben Amrany
Will the RBA cut be the first of many? GBP/AUD exchange rate forecast
Following the recent interest rate cut by the Reserve Bank of Australia to 2.75% will this see the first of many throughout the course of 2013? For me I would certainly not be surprised to see another quarter or half point cut by the end of the year but this may well depend on the economic activity/output from China. Recent figures from China have been much softer than late and this may prove a worrying concern to the RBA and I feel they will keep their cards very close to their chest about future monetary policy. What does this mean for the value of the Aussie? Since the start of March we have seen the pound rally nearly 5% and I for one feel this may well be the start of a revival for the pound and would look for moves towards 1.55 in the coming weeks. For this reason I would urge anyone selling AUD to look at their options whilst rates are still historically very favourable, for those buying I feel you will get more value for the pound as we head into the summer months.
Should you have an upcoming trade to arrange and you would like to discuss the market in more detail and how we can help you achieve a competitive commercial rate of exchange then please get in touch. We are here to help. Please email me with your particular currency requirement and I will happily get in contact to discuss your options to help you maximise your trade. Email 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
AUD continues to strengthen. How to get the best AUD rates. (Ben Amrany)
The Australian Dollar has continued to strengthen against both the US Dollar and British pound over the last 24 hours. The strength of the Aussie Dollar has been remarkable this year most notably against the pound though with gains being witnessed of around 6% at best.
Holiday makers leaving Australia and importers have had great gains. Those looking at exporting from Australia or families emigrating down under are finding things a lot more difficult. I have many clients that are planning on moving to Australia. Some have literally put all on hold until the rates increase again. Although this could be years away and others have decided that they do not want to put their lives on hold and are still moving funds for their property purchases etc.
While the rates are so low for buying AUD you must make sure that you get the best rate when you actually convert your funds. Here at www.australiandollarforecast.com we work for one of the largest UK based currency brokers and offer a very personal service with extremely competitive rate. We will always strive to help you make a saving over the high street banks and any other broker here in the UK or in Australia. So please feel free to check out our rates by emailing me at bma@currencies.co.uk if you inform me what your requirement is I will discuss all the options that are available to you.
Looking forward their is a host of important data out in the near future which may have an effect on the Aussie Dollar. Events in China always seems to have an effect on the currency and their recent inflation data continued to strengthen the AUD. On the 11th in Australia they will be releasing their employment and unemployment change for the last month. Always a potential market mover as it gives a good indication as to how the Aussie economy is performing.
If you are trading Aussie with the pound then the GDP estimate this afternoon could put pressure on sterling should the forecast show a further contraction in the UK economy.
If you are trading the Aussie with the US Dollar then the Federal Reserve will be releasing their minutes to the last interest rate decision. Then at the end of the week their is a host of inflation data out which may just help the USD recover some of its losses.
Regardless of the currency that you need to buy or sell please feel free to email me at bma@currencies.co.uk. Because there are always so many reasons why the rates can move one way or the other so quickly it is good to have a good broker on side who can keep you informed of all the market movements to help you maximize your currency conversion.
Thank you for reading.
Ben Amrany
UK Service Sector News Sees GBPAUD Improve (Tom Holian)
GBPAUD exchange rates dropped yesterday as official figures showed that Aussie retail sales rose by 1.3% in February and building approvals also rose by 3.1%. It is difficult to see GBPAUD exchange rates get back towards previous years as the country’s natural resources and successful mining industry continues to boom.
According to the Markit Purchasing Manager’s Index this morning the UK Service Sector has grown at its fastest rate in 7 months and provides us with signals that the UK economy may have avoided falling back into recession. The survey figures showed a rise of 52.4 last month from 51.8 in February and anything above represents expansion. official figures showed that the UK economy contracted by -0.3% in the final quarter of 2012 and if we see the same in Q1 we could see the UK enter the third recession in five years.
All in all the UK does not seem to be in a very good state and it could be argued that if things continue we could see Sterling Aussie rates drop towards 1.40 rather than towards 1.50. The Olympics gave the UK a little boost during 2012 but this seems to have papered over the cracks.
Later today we could see some large movement on the fx markets as both the UK & Europe announce their interest rate decisions at 12pm and 1245pm respectively. If you have a currency requirement and want to ensure you are getting competitive exchange rates feel free to contact me for a free quote.
Please quote ‘FREE QUOTE’ in the title of your email and include some details about your particular requirement. Tom Holian teh@currencies.co.uk
