Tag Archives: sterling

Sterling Australian Dollar hits 2 (Tom Holian)

Sterling vs Australian Dollar exchange rates have juts hit 2 this morning as the falling price of various commodities has started to harm business investment down under.

According to the Australia Bureau of Statistics showed a fall of 4.4% for the quarter and 5.3% year on year. Indeed, this was the biggest quarterly fall since September 2009 which has caused the Australian Dollar to weaken so much.

However, in order for GBPAUD exchange rates to break 2 and stay above we’ll need to see another big piece of data to allow this to happen owing to the psychological barrier in place.

The Reserve Bank of Australia meet to discuss interest rates and any suggestions of any rate cut looming could see exchange rates improve for GBPAUD.

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 Australian Dollar testing resistance levels (Tom Holian)

Sterling vs Australian Dollar exchange rates have ended the week on a high trading above 1.98 before falling back into the 1.97 territory as Sterling struggles to push past resistance levels.

Sterling has had a good week against the AUD as it was announced earlier this week that Eurozone QE will be ramped up for the next couple of months.

This means that investors are less inclined to move money into riskier currencies which has seen AUD, NZD & ZAR weakness vs Sterling.

Data releases will be few and far between next week as the month draws to a close. However, on Tuesday there is quite a lot of US data due out which can often impact on Sterling Australian Dollar exchange rates.

My personal suspicion is that we’ll see a small amount of upside for Sterling but owing to the current levels just short of 2 on the mid-market level I don’t think we’ll see further gains as there is not enough data due out to give it the lift it needs.

Therefore, 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 up against the Australian Dollar (Tom Holian)

Sterling Australian Dollar exchange rates have had a good end to the week trading above 1.96 on the mid-market levels as investors anticipate what may be announced with the RBA minutes due out on Tuesday.

With the recent rate cut down under any suggestions that more rate cuts could happen in the future are likely to see Australian Dollar weakness following the announcement.

Australian Dollar exchange rates are also heavily influenced by what happens in the US and with recent data announcements in the world’s leading economy a bit lower than expected this has also seen the Australian Dollar weaken against the Pound creating some excellent buying opportunities.

On Tuesday the UK also releases inflation data so if lower than expected could see Sterling fall briefly against the Aussie however I think this will be short lived and I expect Sterling to rise against the Australian Dollar this week.

The AUD is also heavily reliant on what happens in China and with a recent rate cut this has also led to the AUD weakening vs the Pound.

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

 

 

 

RBA Downgrades Australian Growth (Tom Holian)

The Reserve Bank of Australia has come out prior to next week’s budget and suggested that economic growth will slow for year on year seeing the best exchange rates for a few weeks for GBPAUD.

It also expects unemployment to go up to 6.5% with the potential to get worse over the next few months.

This is not good news for the Aussie economy which has seen a slowdown in recent months.

With the RBA already having cut interest rates recently I think we could see Sterling gaining against the Australian Dollar over the next few days as the UK economy settles down after the results of the general election.

The UK general election saw GBPAUD rates surge over the 24 hours as the results came out to confirm a Conservative majority which is soon as good news for the UK providing the country with a further period of stability.

On Tuesday morning we see the release of UK GDP figures for the last 3 months and any positive signs could see Sterling gaining against the Australian Dollar providing an excellent opportunity to buy Australian Dollars.

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 Forecast this week (Tom Holian)

GBPAUD exchange rates have had a very interesting period recently as the uncertainty heats up surrounding the UK election and whether or not the RBA will cut rates on Tuesday.

Expectations up until 2 weeks ago were that the RBA is extremely likely to cut rates this month but owing to the fact that Chinese demand has increased recently and that iron ore prices have also gone up the chances are that the RBA may indeed keep interest rates on hold.

My personal opinion is that we’ll see an interest rate cut on Tuesday to 2% in order to keep the economy gong down under and increase the demand for Australian exports. With a weaker AUD this attracts more foreign investment and more demand for their exports.

Over the next few days the UK election takes place on May 7th. At the moment polls are suggesting that no majority party will win and therefore we will be in line for another hung parliament.

When this happened in 2010 we saw Sterling fall across the board so if you have a currency transfer to make it may be worth looking at a forward contract which allows you to fix your exchange rate based on current prices.

For more information on how to save money when buying currency compared to using your bank then contact me directly for a free quote. Tom Holian teh@currencies.co.uk

 

 

 

Sterling up against the Australian Dollar (Tom Holian)

Sterling has had a good start to the week as predicted in my previous post with the release of the Ernst & Young Item Club report which has upgraded the growth forecast for the UK in 2016.

This has seen Sterling strengthen across the board and lead to some good opportunities to buy Australian Dollars with Sterling.

RBA minutes are due out tomorrow and this could see Sterling rally against the Australian Dollar taking exchange rates higher if there is a hint that the RBA may cut interest rates next month.

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

 

Strong Australian Dollar (Tom Holian)

Sterling vs Australian Dollar exchange rates had a difficult time of it last week falling a few cents from the start to the end of the week.

The RBA decided to keep interest rates on hold down under which surprised some analysts and this led to huge investment into the Aussie Dollar during the early part of the week.

The FOMC minutes published in the US suggested that the US may raise interest rates in June which also led to global investors seeking a higher interest rate yield in the meantime by buying Australian Dollars.

Over the next few weeks the UK goes to the polls which is likely to cause a huge amount of volatility for GBPAUD exchange rates.

At the moment none of the parties are close to forming a majority which could lead to another hung parliament which could be detrimental to Sterling.

However, I do think that the RBA will cut interest rates at next month’s meeting which could help to weaken 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

 

 

 

US GDP to impact on Sterling vs Australian Dollar Exchange Rates (Tom Holian)

Sterling Australian Dollar exchange rates have recently fallen as confidence in the Pound has dropped in recent weeks.

The Bank of England governor Mark Carney said last week that he’s worried about the value of the Pound as it has been so strong recently so we have seen Sterling fall across the board during the week.

Even with UK Retail Sales which were published this morning this did little to support Sterling.

The figures came out at 5.7% compared to 4.7% for year on year and 0.7% month on month compared to the expected 0.4%.

Tomorrow the US releases GDP and as the world’s largest economy anything that happens in America tends to have an impact on exchange rates across the globe. Therefore we expect a large amount of volatility during tomorrow afternoon’s trading session.

UK GDP data is due next Tuesday and this will likely give us big clues as to how GBPAUD rates will move during April.

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

 

 

Will the AUD weaken over 2 again?

GBPAUD has remained above 1.90 but expectations to hit 2 again in the future seem likely. Last night the RBA confirmed that they will be considering further interest rate cuts in the future, all of this on the back of a weakened economy. The fears surrounding another AUD sell off seem to me very real although I would not expect this to really manifest until the second half of 2015.

GBPAUD should improve a little for AUD sellers as we approach the UK election, indeed tomorrow might be a good day to look at a GBPAUD transfer with the UK budget likely to cause some volatility on the pound. If you need to buy or sell the Aussie why not get in touch to chekc your price and find out our opinions on the forecast. Please speak to me jmw@currencies.co.uk to learn more!

Australian Dollar battles back as RBA hold off rate cut – Growth figures to be key (Daniel Wright)

As mentioned in our previous posts, the Australian Dollar gained ground against most major currencies in yesterday’s trading as the RBA failed to cut interest rates as had been expected by most major analysts.

The central bank held rates at 2.25% which gained the Australian Dollar around 0.5% over Sterling in the short period after it was announced. Personally I feel we do have a rate cut to come from Australian and this may be merely a case of them delaying it for a month or so and a rate of 2 is still highly achievable in the coming weeks.

Later on we have GDP (Gross Domestic Product) figures for Australia which will show how much the Australian economy grew or shrank during a specific period and expectations are for a slight drop off. Should we see this then we could easily see the gains made by the Australian Dollar over the past 24 hours eroded away.

With so much going on in the currency markets at present it is essential that you have an efficient and proactive currency broker on your side should you have a currency transfer to carry out in the near future.

If this is the case then I can help you personally. The company we all work for has won numerous awards for our exchange rates and customer service, and we can generally get better rates than companies such as Oz Forex and HIFX so it well worth getting in contact with me today. You can email me (Daniel Wright) on djw@currencies.co.uk with a brief description of what you are looking to do and i will be more than happy to give you a call.