Tag Archives: sterling

Australian Dollar Strengthens against Sterling (Tom Holian)

GBPAUD exchange rates have dropped this morning from 1.83 to 1.82 following the release of UK Retail Sales which saw a fall of 0.3% month on month.

This was the weakest level seen since January after mild weather in teh UK had a negative effect on new clothing purchases.

Over the last 12 months the level is 2.7% but the expectation was for a gain of 2.8% so Sterling has weakened during this morning’s session.

Recently the UK’s biggest supermarket Tesco announced a big fall in profits which has highlighted the slow down.

Tomorrow sees the release of UK GDP at 930am and with expectations of 3% I think the figure could be lower than expected and therefore see Sterling fall against the Australian Dollar offering very good selling opportunities if you need to sell AUD into GBP.

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

 

 

 

GBP Strong against the Australian Dollar (Tom Holian)

Sterling has regained its recent falls against the Aussie Dollar a fortnight ago as the Chinese announced on Wednesday a big fall in inflation.

Indeed, the figure was the lowest level in almost five years causing worry for the economy down under. The reason why this could impact the Australian Dollar exchange rate is because China is the biggest trade partner for the country and any signs of a slowdown is likely to cause a negative effect on the AUD.

With fears of a global slowdown this often causes investors to sell off riskier currencies including the AUD, NZD & ZAR so I think we could see the AUD start the week off with a fall against the Pound.

The Reserve Bank of Australia publishes its minutes on Tuesday and with Chinese GDP also due out I expect to see a huge amount of volatility over the next few days for the Australian Dollar. Expectations for Chinese GDP are for growth of 7.2% so anything lower could see the Australian Dollar weaken.

If you’re worried about what may happen with AUD exchange rates and would like to save money on exchange rates compared to using your bank then contact me directly for a free quote Tom Holian teh@currencies.co.uk

 

 

 

Australian Dollar Forecast vs Sterling (Tom Holian)

For quite some time I have been suggesting that it is only a matter of time before the Pound rallies again vs the Australian Dollar as the UK economy has recently shown growth of 3.2% whilst the economy down under has started to show signs of a slowdown.

Chinese data in the form of Trade Balance and Exports is due on early Monday morning so any negative news could see GBPAUD exchange rates hit 1.85+

With the IMF having downgraded global growth forecasts this has led to investors selling riskier currencies including the AUD, NZD & ZAR. With the RBA also confirming that interest rates will be kept on hold this had led to AUD weakness and Sterling hitting 1.84. The RBA releases its minutes on Tuesday morning so we could see AUD continue to weaken if an interest rate rise has been pushed further back.

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

 

 

 

 

Australian Unemployment Rate (Tom Holian)

All eyes will be on the Bank of England’s interest rate decision due out tomorrow at 12pm. Recently 2 members have voted for an interest rate hike and if any more look to change their stance we could see a bit of movement for GBPAUD exchange rates.

Earlier this week the Reserve Bank of Australia chose to keep interest rates on hold down under which kept rates fairly flat but today we have seen GBPAUD rates go in an upwards direction towards 1.8350 at the time of writing.

Australian unemployment data is due out overnight and the expectation is for 6.2% so anything more negative could see Sterling massively increase against the Australian Dollar so we could see rates peak at 1.85 tomorrow.

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

 

 

Sterling AUD Hits 1.85+ (Tom Holian)

Sterling has had a huge recovery against the Australian Dollar during September and has moved by as much as 8% in less than 4 weeks creating excellent buying opportunities for those looking to save money when transferring Australian Dollars down under.

With the Scottish referendum now old news Britain has decided democratically to remain United which is good news for the overall economy and the certainty has now helped benefit Sterling exchange rates across the board.

The ECB cut interest rates in the Eurozone earlier his month and with another round of QE potentially happening in Europe this is causing anxiety for global investors who are seeking safe havens in the Pound or US Dollar and selling riskier currencies including the Australian Dollar and New Zealand Dollar.

On Tuesday morning we see the release of Australian Private Sector credit and arguably more important is the release of Chinese Manufacturing PMI data. As the world’s second largest economy any slowdown in China often has a negative effect on Australian Dollar exchange rates.

Prediction for the week is Sterling strength and Australian Dollar weakness particularly towards the end of the week.

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

 

 

 

Sterling vs Australian Dollar hits 1.85+ (Tom Holian)

Sterling Australian Dollar exchange rates have hit their highest level in weeks with Sterling almost tipping 1.86 during today’s trading sessions.

With the Scottish referendum now a distant memory and the Eurozone suggesting that further QE is round the corner riskier currencies including the Australian Dollar have weakened. Indeed, Sterling has also risen rapidly against the New Zealand Dollar aswell.

Bank of England governor Mark Carney’s speech today highlighted the risk to the global ecnonomy and also hinted that the time when the Bank of England would raise rates was ‘getting closer’.

These comments have helped to strengthen the Pound against the Australian Dollar and I think we could even go higher during tomorrow’s trading session.

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

 

 

 

GBP/AUD at a near six month high (Mike Vaughan)

Sterling has recently seen some what of a resurgence against the Australian Dollar with the range between the high/low over the past three weeks from 1.724 to 1.846 or just over 7%. Much of the moves have come about during and following the Scottish independence vote however as the dust settles sterling is still finding support a trend I believe could continue, although I do feel a level of resistance around 1.85 will be seen.

For me I still feel Glenn Stevens and the RBA are uncomfortable with the value of the Aussie and this could weigh further on the dollar. I do believe the market will now go through a period of consolidation and I would look for levels to sit between 1.83-85.

Should you be buying AUD the market is currently trading at close to a six month high and having rallied over 7% since the 8th September should you be buying AUD, although there could be more upside for sterling, I would still seriously consider your position and possibly hedge your bets as the shift has been significant.

As a specialist foreign exchange broker let us be your eyes and ears on the market. Our aim is to maximise our clients positions and contact clients should we believe market positions to be favourable. To get more information on the full currency service we provide please email Mike mgv@currencies.co.uk

Day of reckoning looms for Scotland and more importantly GBP/AUD (Ben Amrany)

The pound has today recovered fairly well against the AUD rising to a high at one point of 1.8325. This is a stark improvement from the lows of 1.71 just 10 days ago. This is a rise of around 6.5% in 10 days and should seriously be considered.

The rise is mainly due to expectations of a no vote for the Scottish referendum and the sell off of AUD after comments from the FED in the US regarding no dates on when interest rates will rise in the U.S. We will get the results to the referendum in the early hours of the morning UK time all being well. The way that I see it is as follows. There is likely to be a massive reaction, particularly for sterling, whichever way the vote goes. A vote for independence will highly likely result in a further appreciable sterling sell-off causing the pound to fall by as much as 10% over the coming weeks and months. A vote for Scotland to remain in the UK is likely to lead to a significant relief rally for the pound and we could see a slight gain from the current trading levels.

Tomorrow will one way or the other cause wide variations in the exchange rates and it would not surprise me if by close of play tomorrow GBP/AUD could be as high as 1.85 or as low as 1.76 depending on the outcome. If you are looking at buying or selling the AUD against the pound it may be wise to inform me of your requirement and I can explain the options available to you to help you minimise your risks to the market. You may email myself Ben Amrany at bma@currencies.co.uk 

Thank you for reading

Ben Amrany

bma@currencies.co.uk 

 

GBP/AUD back through 1.82 a 10 cent swing in 10 days (Mike Vaughan)

Sterling has continued its strong rally against the Australian dollar having shifted 10 cents in last 10 days (5.8%). This makes a difference of AUD 20,000 on a £200k transfer.

Data from Australia has been relatively light this week highlighting how dominant sterling has been and just how the Scottish independence vote is influencing the value of the pound. With voting having started this morning and the results scheduled for 07:30 tomorrow morning, the next 24 hours are likely to be extremely volatile. I for one believe the ‘no’ camp will prevail and this is bound to lend further support to sterling and I would look for a shift towards 1.85.

Overnight the RBA bulletin gave little insight as to future monetary policy but I still believe the RBA will be uncomfortable with the value of the dollar and this 10 cent shift will have been a welcome move.

Looking at today’s data, and away from the Scottish independence vote, look out for UK retail sales data at 09:30. Figures expected to improve from 0.1% to 0.4% month on month and should boost sterling.

Should you like to get more information on the full currency service we provide then please email Mike at mgv@currencies.co.uk

Improved unemployment figures in Australia but the dollar still weakens against the pound (Mike Vaughan)

Following the pounds losses earlier this week (due to Sundays poll suggesting the ‘yes’ vote was taking the lead in the Scottish referendum) the pound has rebounded five cents or nearly 3% since Monday. The move came about as the latest opinion poll puts the ‘no’ vote at 53%  – for me the vote is likely to be a no and it is this that I believe will lend more support to sterling and push levels back though the 1.80 level. For this reasons should you be selling AUD then current rates should still look like an opportunity.

Overnight the Australian unemployment data fell to 6.1% from 6.4% but did little to affect the AUD exchange rate suggesting the current market is dominated by the movement of sterling. This volatility is set to continue for the next week until the vote passes on the 18th.

To get more information on the currency service we provide please contact the office on 01494 787478. To help you make the most of your currency it is important you get as much information as possible. Our market knowledge is available for any client and we are happy to assist with any bank to bank money exchange not matter how big or small. For more information please email Mike mgv@currencies.co.uk