Tag Archives: GDP
GBP/AUD exchange rates through 1.81 following poor GDP data in Australia, will the trend continue? (Mike Vaughan)
Sterling pushed through the 1.81 barrier this morning, bringing GBP/AUD to its highest levels since February 2010 – but will this trend continue? Overnight Australian GDP data was released showing a disappointing result of 0.6% down from the expected 0.6%. This has brought the shift in Sterling to just shy of 8% against the Aussie since the end of October – a pretty good return in anyone’s eyes. For me there is a chance that this run will continue, but I would also urge AUD buyers to consider these gains and view the opportunities currently available.
Looking at the data for the rest of the week watch out for employment figures from the US at 12:15 today and the important non-farm payroll figures at 13:30 on Friday. Any improvement and I would expect further losses for the AUD as this shifts the likelihood of the FED tapering QE a little bit closer, a situation that is likely to bad news for AUD exchange rates. Also watch out for the Bank of England interest rate decision tomorrow at 12.00, expect to see no change which shouldn’t affect rates significantly but still one to keep an eye on.
As with making any financial decision it is always best to get as much information about the product and the service on offer. As a specialist execution only currency broker we pride ourselves on our
efficient, client friendly service and most importantly our price. When using a broker rates can be significantly better than high street banks and other financial institutions. To find out more about the service please contact 01494 787478 or email me with a brief overview of your particular requirement and I will happily provide further insight into current market conditions and the contract that may work best for you. Email Mike on email@example.com
The Australian Dollar has gained just shy of 0.5% against the pound ahead of the annual Reserve Bank of Australia report – this report provides a summary of the prior year’s operations including the bank’s open market transactions, financial statements, currency operations, and internal management. This could well give clues as to future monetary policy and guidance with regards to interest rates – a suggestion the RBA will continue with their recent policy and stance on interest rates (i.e. rate cuts) then this could lead to some losses for the dollar.
Looking to later in the week and the major release for the pound will be revised GDP data on Thursday, this is forecast to show a slight improvement and again should lend support to AUD buyers. For me the recent shift in favour of the Aussie should be viewed as an opportunity for sellers as personally I feel the dollar will lose value and shift back towards 1.75 in the coming weeks.
Should you have a upcoming exchange to arrange and you would like further information on the currency service we provide then please get in touch on 01494 787478. Alternatively please email me with a brief overview of your currency transfer and I will get back to you with a number of options to help maximise your money transfer. Email Mike at firstname.lastname@example.org
When the legendary fund managers and notorious currency gurus Stanley Druckenmiller and George Soros said the Australian Dollar was massively overvalued and could see a huge correction they certainly were not wrong. Over the course of the last month alone the pound has gained 8%, the Euro 8.9% and the USD 6.4% and there is little sign of it stopping!
With the prospect of the US winding down its quantitative easing progromme (the FED meet next week and will officially confirm this) the prospect of direct foreign investment to Australia becomes less likely, and this combined with continuing concerns that the mining boom in Australia is faltering, largely due to falling GDP and growth forecast for China, the prospects for the Aussie are still looking relatively bleak. For anyone looking at selling AUD, historically the rates are still very favourable and you it might well be the time to strike before the AUD has chance to fall 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 email@example.com
Recently the Australian dollar has continued its ascent against the pound moving close to record highs, nearly breaching the 1.45 barrier. Today we have a number of data releases which if positive could give the pound a shot in the arm. At 09:30 we have industrial and manufacturing figures from the UK. These have been very negative of late and any improvement could give the pound a much needed boost, however should this negative trend continue then watch for further sterling weakness. This mornings data is followed by UK GDP estimates at 15:00. These figures will be eagerly anticipated to see if the UK is on path to escape the triple dip recession.
For me this is key to the short term trends for the pound. We have a central bank that have openly talked down the value of sterling an a last ditch attempt to claw the UK out of recession and figures are suggesting this could be a very close call. If official GDP data from Q1 is at 0% or better then recession has been avoided and I a long overdue correction for the pound could be seen. Anyone buying AUD may see some opportunities if today’s estimates are positive, however should you be selling you will find it difficult to find a better time to sell AUD. Rates have moved some 8% since the start of the year, a pretty good return in anyone’s eyes and a real opportunity should you be selling.
To discuss the best way for exchanging your currency and to see what rates we can achieve then please contact the office on 01494 787478. Alternatively please email me with a brief description of your currency requirement and I will happily run through the next step and types of contracts we can offer. Please email Mike at firstname.lastname@example.org for more information.
Sterling exchange rates have started off relatively stable this morning remaining steady at the 1.55 level. Following last Thursdays positive GDP figures the pound has reversed some of the losses seen recently against the Aussie, this sis something that may continue as the threat of further Quantitative Easing from the UK becomes less likely. Prior to last Thursday’s data the general feeling was the Bank of England would pump up to £50bn through QE into the system at the interest rate meeting next week, however this is now unlikely and as a result the pound may well have been slightly undervalued and I could easily see a move back towards 1.56/57 territory. Buyers therefore may wish to take stock and get in contact to run through the various contracts we can offer to secure your currency.
Through utilising the services of a money broker clients can put themselves in a much better position when it comes to the timing of their foreign exchange transfer. As part of the service your broker will keep you updated with market trends and upcoming market date that can affect your trade. Market conditions are particularly volatile and it is not uncommon to see market swings well in excess of 1 cent, by keeping your broker updated with the timings of your exchange we can contact you should your target price be reached or keep you updated should the market be moving against you. To discuss the transfer and many different contracts we can offer please contact Mike on 01494 4787478 or email me direct at email@example.com
Over the course of the weekend we have seen continued strength from the Australian dollar, will this continue? This morning the pound is again losing ground against the Aussie, however the pound is down across the board so this would appear to be Sterling weakness rather than a continuation of strength form the Australian Dollar. The pound could be in for a rocky week in the run up to GDP estimates from the NIESR (National Institute for Economic and Social Research) a well regarded think tank. Figures are often relatively accurate and will therefore be viewed closely. Should the figures continue to show a negative etrend then we could see further moves towards 1.47 – just 1 cent of the record levels seen in February this year and creating some fanatastic sell opportunities for anyone holding Australian dollars. Also this week for anyone looking at GBP/AUD we have the Bank of England inflation report on Wednesday at 10.30 – keep an eye on this foany clues as to future Montary policy from the Bank of England.
Prior to this anyone with an interest in teh Aussie should keep an eyo the Reserve Bank fo Australia interest rate decision overnight. We are expecting to see rates on hold at 3.5% but any announcements from the Reserve Bank may cause short term swings, however I would still expect the Australian dollar to continue to see positive movements ands can see 1.47 on GBP/AUD and EUR/AUD down towards 1.16 – although I do feel the Aussie is beginning to reach its peak and any AUD sellers should sseriously consider taking advanatage.
As a specialist curreny broker the aim of this blog is to help private and corporate clients make the most of their currency exchange. When moving large sums of money it is highly important to have access to best prices, though using the services of a specialist broker it enables you to keep up todate with current market trends and data sets that may affect yoru exchange. It is not uncommon to see the amrket move well in excess of 1% in a day and timing yoru exchange can make a very big diffeerence to the amount of currency your receive. Here at currencies.co.uk we have a number of contracts available to maxmise or guarantee yoru exchange, to discuss these in more detail and my opninons on the market then please email Mike at firstname.lastname@example.org or call on 01494 787478.