We have seen the Australian Dollar start to strengthen back up against sterling and the US Dollar recently. With gains of around 2.5% it is a slight concern for clients of ours that are looking at making a currency transfer to Australia.
The news this week coming out of Greece that a new government has been elected brought some relief to the Euro zone crisis and seemed to have boosted confidence amongst investors. This has led to the Aussie Dollar once again becoming very strong. However overnight we did witness th Aussie Dollar lose some ground due to some weak manufacturing data to come out of China.
Over the course of the weekend and the week ahead there are numerous meetings scheduled for euro zone leaders. Any concrete news for markets would probably come from Europe and the uncertainty of what comments may arise is what could make the rates move in one direction or the other. With a host of data out of China & the US next week it may be wise for you to keep in contact with us so we can be your eyes and ears on the market to help you maximise your exchange. feel free to email me at [email protected]
Going forward if you require buying Aussie Dollars I personally feel that we will see a range bound of around the 1.53-1.56 over the next week or two against the pound. If you have to make your transfer in this time scale then try and capitalise on a small movement in your favour. While against the USD the rates will probably hover around parity to 1.02.
Here on the trading floor we can place limit orders in the market for you so if there is a movement in your favour you do not miss the opportunity to trade. These limits can be left in a live market 24 hours a day, 7 days a week. We also make sure that the spread is extremely tight so that the rate is a lot more attractive than you trading through your high street bank hence making you a significant saving.
If you would like to be in contact with me to learn more on who we are and how we work please feel free to contact me at [email protected] Just quote AUD FORECAST and I will make sure that I come back to you to discuss your requirement and the options that are available to you.