Tag Archives: sterling
Sterling – Australian Dollar exchange rates still remain slightly flat – Interest rates set to stay on hold for the time being – Will the AUD still weaken? (Daniel Wright)
Even with no interest rate movements and stronger than expected growth figures for Australia so far this week the Australian Dollar still appears to be finding it tough to gain any momentum against the major currencies, the on-going situation in Ukraine certainly is not helping things, but I am fairly sure that investors and speculators alike are more than likely avoiding the Australian Dollar still from comments made by the RBA (Reserve Bank of Australia) towards the latter part of 2013.
Both the RBA and the Government had commented that they would like to see the Australian Dollar a lot weaker than it is and this led to a huge sell of of AUD in a short space of time as the markets do move on rumour and speculation as well as fact.
Interest rates are currently at a 54 year low in Australia and comments from RBA Governor Stevens suggested they are not likely to get any lower in the near future, which opens the door for other economic policies to come in and weaken the AUD should it be needed.
I personally feel that the AUD still has a little further to weaken, however I would be a little wary of any dents in the economic recovery for the U.K if you are looking to buy Australian Dollars with Sterling in the near future.
Tonight (This morning if you are reading this from Oz) we have more economic data out for Australia in the way of Retail Sales and Trade balance figures which may be another potential market mover. Following that information we have the interest rate decision for the U.K from the Bank of England at midday U.K time which although should be a bit of a non event has the potential to throw up a surprise or too so it is certainly one to watch.
If you are looking to buy any major currency with Australian Dollars or you wish to buy Australian Dollars with any major currency then it may be well worth getting in contact with me directly. The company I work for has won numerous awards for our rates of exchange and customer service, I regularly have clients contact me that use other currency brokers or plan to use their bank for a currency exchange and more often than not it turns out that I can save them a lot of money.
If you feel my services may be of use to you then feel free to contact me (Daniel Wright) directly by email on email@example.com with a brief description of what you are looking to do and a contact number and I will be more than happy to get in touch with you personally.
GBP has rallied once again against the AUD during Friday’s trading, with rates moving up through 1.87 on the exchange. Sterling is continuing to find market support, despite some mixed data for the UK this week. UK Gross Domestic Product (GDP) figures were released on Wednesday and came out slightly worse than expected. Despite some early loses, Sterling recovered against the major currencies and we are now trading close to a four year high on GBP/AUD, providing some excellent buying opportunities.
The AUD has been handicapped over recent months following poor growth forecasts and rising unemployment in the Australian economy. There has also been a slowdown in China’s demand for their raw materials and with Australia so reliant on their own affluent export industry to support a growing economy; this news has negatively impacted the AUD. With further talk recently regarding a slowdown in China’s economic growth, we may find the AUD will continue to be hampered over the coming weeks.
If you have an upcoming currency requirement and would like to be kept up to date with all the latest market movements, or simply wish to compare our award winning exchange rates with your current provider, the please feel free to contact me directly at firstname.lastname@example.org. Alternatively, you can contact one of our experienced brokers on 0044 1494 787 478.
Sterling made good gains against a weakening Aussie today, with the US Dollar making significant headway versus it counterpart from Down Under. Weaker than expected Chinese data triggered a slight sell off but there is still a lot of news to be published in the next few days that could have a major impact. UK GDP revisions this morning didnt cause any major surprises so what things are worth keeping an eye on over the next few days?
Firstly we have US Durable Goods and a speech by new Head of the Fed, Janet Yellen, tomorrow afternoon. US monetary policy has been a major driver for the Antipodean currencies who benefitted massively under the cheap supply of money through Quantitative Easing. Now that it is being unwound, the respective currencies have been sold off and the pace of this has been affected by the pace at which the Federal Reserve tapers. Yellen is known to be cautious but the speech will be closely analysed for further clues about policy- with US GDP revisions on Friday expect a lot of volatility as global confidence shifts.
EUR AUD trades will also need to watch German unemployment and inflation data tomorrow, and wider European unemployment and inflation on Friday. This could be a trigger for Euro weakness if inflation is low as it may force the ECB’s hand into action soon. The next rate meeting is next week so be prepared just in case.
Over the weekend we have Chinese Manufacturing PMI data and depending on the strength of this we will see Aussie movement- a strong showing will be good for the AUD by suggesting increased demand for Aussie raw materials, and a weak showing suggests worse news ahead for the Aussie economy. With The RBA rate decision in the early hours of Tuesday morning, the next few days could be the best opportunity to buy AUD for a while as I really cant see the RBA changing stance from last month where they seemed pretty happy with current interest and exchange rates. If you do need to transfer money to Australia and would like some assistance then please feel free to email Colm at email@example.com or call 01494 787 478
Sterling Aussie exchange rates have remained relatively quiet this week as we approach the end of the month. However, expect to see Australian Dollar weakness over the next few days as concerns rise about a Chinese slowdown.
Slower growth in the Chinese property market has seen metal prices drop which has affected the mining industry globally. The mining industry in Australia is one of the biggest parts to the economy downunder so this news is not good for the country.
Since the start of the week the UK mining index has dropped by 4.5% and this is mainly driven by developments in China. With an interesting programme featuring Robert Peston on the BBC last week about Chinese debt this has brought the news of the Chinese slowdown into the mainstream and has caused some worry for global investors who may pull out of riskier currencies including the Australian Dollar.
There are mixed opinions about the Chinese economy but my personal feeling is that they cannot continue to maintain their current rates of growth which will inevitably cause problems for the global economy. I think long term we could see further weakness for the Australian Dollar so you may wish to consider buying a forward contract if you’re selling Australian Dollars to buy Sterling.
If you have a currency transfer to make and want to save money compared to using a bank to exchange currency then contact me directly for a free quote. Tom Holian firstname.lastname@example.org
Sterling – Australian Dollar flat so far this week – China still a concern for the strength of the Australian Dollar (Daniel Wright)
Sterling – Australian Dollar exchange rates have remained fairly flat this week and in truth have been reasonably range bound for a short period of time now.
When exchange rates are like this it is almost like they are just waiting for the next big bit of news to nudge them along and we have a few smaller pieces of economic data out for both economies this week so I would not be too surprised for the rates to stay within the 1.84-1.86 range until the turn of the month.
Next month we will start to see the release of economic data for the U.K in February and that for me may well give those looking to sell Australian Dollars their last opportunity to sell at these kind of rates following the horrific bout of flooding we saw in many towns and villages throughout February which must have weighed on the economy.
Lots of homes and businesses were flooded and we virtually saw complete areas come to a standstill, we even saw railway tracks completely washed away by the sea cutting off entire areas from rail access.
Although this may weaken Sterling a little in the coming weeks throughout the course of the year I personally would not be surprised to see exchange rates for the Pound get better against the Australian Dollar as the possibility of an interest rate raise increases and China starts to feel the force of such rapid growth levels that surely are not sustainable.
Should we start to see China slowing or even the bubble burst for China then this may significantly weaken the AUD and could push us close to or over the 2 level which I know many of my clients that have emigrated have been waiting for over the past few years.
I deal with currency transfers involving buying ort selling Australian Dollars and can get better rates of exchange than banks and companies such as Oz Forex and HIFX just to mention a few.
If you are currently sending money overseas or bringing money back and you want to compare our service with your current one, or you are due to have a currency requirement and you want not only a great exchange rate but me on your side as your eyes and ears on the market then feel free to email me directly.
You can contact me on email@example.com - Please leave a brief message about your requirement and a contact number and I will be more than happy to call you personally at a time that is convenient.
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Do you bank with Westpac, National Australia Bank or Commonwealth Bank? Are you tired of the rates of exchange that they offer you? If so then get a better rate of exchange on any volume through us!!!
I have been assisting clients make savings on their currency exchange over their Australian bank by an average of 2% This week alone I have helped clients save thousands over these banks as the rate they offer have not been competitive. If you are looking at maximising your currency transfer and want to achieve as much as possible then feel free to contact myself Ben Amrany at firstname.lastname@example.org
As the Australian Dollar has been fairly volatile against a range of the major currencies over the last few months we have been inundated with clients both buying and selling their Aussie Dollars. The Australian Dollar has recovered some of its losses over the last couple of weeks since the RBA have stated that they will not be cutting interest rates any further. This lent support to the falling A$ and events in the UK of late could just well mean that the AUD strengthens a little further verses the pound.
Falling inflation and a weaker than expected unemployment number from the UK could just well mean that GBP/AUD heads back towards 1.80 or lower. If you factor in some positive data from China then who knows what may occur in the near future. I would however be surprised if the rate does drop below 1.80 but in currency I have only to often been left surprised.
If you are buying or selling the Aussie Dollar then the last thing you want is to see your hard earned money get wiped away by a deteriorating exchange rate. With a high to low spread of over 10 cents in the last month it shows how quickly you have to act on a spike in the market.
If you have Australian Dollars to sell against the pound then my recommendation would be to act on these spikes as it is so uncertain as to how things may go from here. I have been assisting clients move their funds to and from Australia for over 6 years now and I never have a problem in achieving better rates of exchanges than your banks in Australia and the UK. This week alone I have had many clients shocked at the rate Westpac for instance have been offering their clients to both buy and sell the AUD. If you feel that you would like to investigate the personal service that I offer and how we achieve better rates than your banks then just email me with your requirement explaining your time scale and volume that you are looking at exchanging and I will contact you to explain the options available to you. Just email me at email@example.com
If you are in the situation needing to move money internationally and looking for the best price – please feel free to contact the author – Ben Amrany – via the telephone number at the top of the page or via email at firstname.lastname@example.org