Tag Archives: sterling

Sterling Australian Dollar tentative over Chinese Interest Rate Cut (Tom Holian)

Sterling Australian Dollar exchange rates have hit 6 year highs this week following the Chinese intervention with the Yuan and global commodity prices falling to their lowest level in 16 years.

As Australia is a commodity affected currency this saw the AUD weaken vs Sterling and the news from China saw a big sell off for riskier based currencies including the AUD, NZD & ZAR.

Today the Chinese cut its main interest rate by 0.25% to 4.6% in an attempt to calm down global stock indices which have been falling over the last few days.

This has helped to strengthen the AUD against the Pound but this could be just a short term answer for a longer term problem.

The decision to cut rates in China should have happened a while ago and the Yuan intervention was an attempt to sort out the economy but clearly this did little to help and they ended up cutting rates earlier today.

If you have a currency transfer to make and want to save money on exchange rates compared to using your own bank then contact me directly for a free quote. Tom Holian teh@currencies.co.uk

 

 

Sterling hits 6 year high vs the Australian Dollar (Tom Holian)

Today we have seen Sterling Australian Dollar exchange rates hit their highest levels for 6 years as negative Chinese data wreaks havoc for global stock indices.

As Australia is heavily reliant on what happens in China the data caused huge weakening for the Aussie Dollar creating some excellent buying opportunities if you need to transfer money to Australia. 

The stock market in China fell by over 8% its biggest daily fall since 2007 as investors sold off riskier currencies including the AUD, NZD & ZAR.

Commodities have fallen to a 16 year low and as much as US$5 trillion has been wiped off global stock indices over the last few days since the Yuan was devalued.

With currency markets almost impossible to predict at the moment if you have a currency transfer to make and want to save money on exchange rates compared to using your own bank then contact me directly for a free quote. Tom Holian teh@currencies.co.uk

 

 

 

Sterling AUD Rates rise owing to Chinese Data (Tom Holian)

Sterling vs the Australian Dollar exchange rates have had a lift during the week owing to the Chinese devaluing the Yuan as well as publishing factory output data.

Chinese factory data showed its lowest level since June 2009 and with the Chinese stock market having dropped by 33% since the start of the year things are not looking good in the world’s second largest economy.

As China is Australia’s biggest trading partner any negative data often results in Australian Dollar weakness and this is what has happened to GBPAUD rates during the course of the week.

With RBA governor Glenn Stevens due to speak publicly on Wednesday morning any jawboning or talks of another rate cut could see GBPAUD rates rise even further.

With the Australian economy under real pressure during 2015 I would not be surprised to see either a rate cut or talks of one prior to the end of this year.

If you have a currency transfer to make and want to save money on exchange rates then contact me directly for a free quote. Tom Holian teh@currencies.co.uk

 

 

 

Huge rally for Sterling vs Australian Dollar following UK Inflation Data (Tom Holian)

Sterling vs the Australian Dollar exchange rates have risen by as much as 4 cents during today’s trading session hitting close to 6 year highs to buy Australian Dollars.

UK inflation data came out better than expected this morning which means an interest rate hike is now back on the agenda for the Bank of England.

Earlier this month only 1 of the 9 members voted for a rate hike with the expectation for perhaps 2 or 3 which saw Sterling fall a little but with the data this morning this could influence a change in the voting pattern in September’s meeting.

The Chinese issue from last week has also weakened the Australian Dollar and I would not be surprised to see a rate cut before Christmas in Australia.

If this does occur I expect to see Sterling go up even further against the AUD in the long term.

If you have a currency transfer to make and want to save money on exchange rates compared to using your own bank then contact me directly for a free quote. Tom Holian teh@currencies.co.uk

 

 

 

Australian Dollar rates remain fairly calm during Chinese storm (Daniel Wright)

Australian Dollar exchange rates have remained reasonably calm throughout trading today even with the ongoing issues over in China. We are seeing a fair amount of volatility for the AUD during the course of each trading day but I personally feel that sometime in the near future we may see another fairly extreme day on the markets.

I remember a number of years ago when the Australian Dollar moved almost 20 cents in a day against the Pound and that really did give us a headache on the trading floor trying to secure currency for clients whilst the rate is moving around more than an in-swinger from Jimmy Anderson on an overcast day.

Although I seriously doubt we will see that much movement in a single day I would not be surprised to see a pretty large swing as there are lots of different factors that may influence rates in the near future.

Interest rates, Chinese data, Australian economic data, Glenn Stevens and RBA announcements are just a few factors that need to be taken into account.

If you are looking to buy or sell Australian Dollars in the near future then it is key that you ensure you have protection in place. We offer many different contract types inclusive of a Stop loss order (setting a minimum level you wish to achieve) and forward contracts (booking out a rate in advance with a small deposit).

We also offer the very best rates of exchange on the market too, feel free to get in touch with me (Daniel Wright) directly on djw@currencies.co.uk if you do need to buy or sell Australian Dollars in the near future  and I will be more than happy to call you personally to discuss the various options available to you. I look forward to speaking with you soon!

Falling Chinese Inflation helps to weaken the Australian Dollar vs Sterling (Tom Holian)

Sterling Australian Dollar exchange rates have recovered during today’s trading session after falling as much as 5 cents during the course of last week.

Chinese inflation data showed the rate rise to 1.6% in July however this is still less than the government’s target of 3%.

Food prices helped to edge up the data but producer prices fell for the 40th month in a row.

Indeed, if you look at the fall in Chinese growth and the Australian Dollar vs Sterling this is following a very close pattern.

China has cut interest rates 4 times since the end of 2014 in order to improve the economy and get more people spending and now they may have to look at doing it again.

The level of growth in the world’s second largest economy is the weakest since 2008 and even though they are growing by 7% this will be difficult to sustain.

Therefore, this is helping to increase the value for Sterling vs the Australian Dollar exchange rate.

If you have a currency transfer to make and want to save money on exchange rates compared to using your own bank then contact me directly for a free quote. Tom Holian teh@currencies.co.uk

 

 

Australian Dollar gets stronger vs Sterling but for how long? (Tom Holian)

Sterling vs Australian Dollar exchange rates have dropped by almost 5 cents since Tuesday when the Reserve Bank of Australia decided to keep interest rates on hold.

The Pound then gained back its losses for the next two days but fell again yesterday following the Bank of England’s interest rate decision.

The expectation was for 2 of the 9 members to vote for a rate hike but only 1 was in favour of a rate rise which caused Sterling to fall against all major currencies.

This opportunity to sell Australian Dollars to buy Pound Sterling could be short lived as I still believe that the RBA will cut interest rates in the future and the Bank of England will increase rates during early 2016.

With the ongoing crisis in Greece this has also caused global investors to avoid riskier commodity based currencies such as the Australian Dollar.

If you have a currency transfer to make and want to save money on exchange rates compared to using your own bank then contact me directly for a free quote. Tom Holian teh@currencies.co.uk

 

 

Will the RBA cut interest rates this week? (Tom Holian)

The Reserve Bank of Australia are due to meet on Tuesday and with the GBPAUD rate on an upwards spiral any mention of a rate cut could see rates go even higher.

With Chinese data dwindling and the Australian economy having its own problems with growth a rate cut could be quite a good thing for the economy.

However, I don’t expect to see a rate cut just yet but some tactical jaw-boning could be used to weaken the Aussie Dollar vs Pound Sterling.

Australian retail sales are also due just before the RBA’s decision but I think the currency markets will be waiting for the RBA announcement and overlook this piece of data.

Australian unemployment data is due on Thursday and signs of negative data is likely to weaken the AUD vs Sterling especially if the RBA do mention any sign of a rate cut.

If you have currency transfer to make and want to save money on exchange rates compared to using your own bank then contact me directly for a free quote. Tom Holian teh@currencies.co.uk

 

 

 

Sterling – Australian Dollar exchange rates – Interest rate decisions due next week (Daniel Wright)

I had been predicting for quite some time in my emails that the Pound would breach 2 against the Australian Dollar it has now done so with a vengeance. Rates are currently at multi year highs and this is a great time to be sending money over to Australia.

With the U.K economy doing well, Governor of the RBA Glenn Stevens seemingly happy to see a weaker AUD and The major issues surrounding China it did always look like this spike would be coming.

We currently are sat at a level of resistance below 2.15 so the key now will be whether or not the rate can push through that in the next week or so. Personally I feel if it does not manage to push through the 2.15 in the coming days it may easily start to drop back below the 2.10 marker as we see a run of profit trading and traders selling off positions after such a good run.

There isn’t a huge amount left to come out this week in terms of economic data but next week will see the interest rate decisions for both Australia and the U.K so it will be key to make sure you have a proactive and efficient currency broker on your side if you have an upcoming currency exchange to carry out involving the Australian Dollar. I will be more than happy mto help you if you are in this position both in terms of getting you an exceptional rate of exchange but also explaining the various options you have available. These include a forward contract, stop loss and limit order.

Feel free to email me (Daniel Wright) on djw@currencies.co.uk with a brief description of your requirements and I will be more than happy to assist you personally.

Sterling – Australian Dollar exchange rates drop following poor U.K retail sales (Daniel Wright)

The Pound dropped and edged closer to 2.10 in trading this morning following worse than expected U.K retail sales figures.

Expectations of a figure around 0.3% for due were swiftly crushed as the level came in at -0.2%.

Over the course of the morning the Pound has now dropped against all majors, seeing a movement of over 0.5% against the Austrlian Dollar. (This means a purchase of AUD 300,000 would cost over £800 than it would have done earlier this morning.

This once again shows why it is key to have a proactive and efficient currency broker on your side if you have a pending transaction like this to carry out. Not only would we have made you aware of this data release due to be coming out but we would also inform you of the various options that we have available to protect yourself from such market movements… Or if you are selling Australian Dollars to buy Pounds we can help you take advantage of these sharp market movements, without the need to be available 24 hours a day.

If you have an upcoming currency exchange involving either buying or selling the Australian Dollar then it is key that you have someone like me on your side as it can make a huge difference to the amount of money you end up with.

Feel free to contact me (Daniel Wright) directly on djw@currencies.co.uk and I will be more than happy to get in touch personally.