The Australian Dollar has continued to strengthen against both the US Dollar and British pound over the last 24 hours. The strength of the Aussie Dollar has been remarkable this year most notably against the pound though with gains being witnessed of around 6% at best.
Holiday makers leaving Australia and importers have had great gains. Those looking at exporting from Australia or families emigrating down under are finding things a lot more difficult. I have many clients that are planning on moving to Australia. Some have literally put all on hold until the rates increase again. Although this could be years away and others have decided that they do not want to put their lives on hold and are still moving funds for their property purchases etc.
While the rates are so low for buying AUD you must make sure that you get the best rate when you actually convert your funds. Here at www.australiandollarforecast.com we work for one of the largest UK based currency brokers and offer a very personal service with extremely competitive rate. We will always strive to help you make a saving over the high street banks and any other broker here in the UK or in Australia. So please feel free to check out our rates by emailing me at [email protected] if you inform me what your requirement is I will discuss all the options that are available to you.
Looking forward their is a host of important data out in the near future which may have an effect on the Aussie Dollar. Events in China always seems to have an effect on the currency and their recent inflation data continued to strengthen the AUD. On the 11th in Australia they will be releasing their employment and unemployment change for the last month. Always a potential market mover as it gives a good indication as to how the Aussie economy is performing.
If you are trading Aussie with the pound then the GDP estimate this afternoon could put pressure on sterling should the forecast show a further contraction in the UK economy.
If you are trading the Aussie with the US Dollar then the Federal Reserve will be releasing their minutes to the last interest rate decision. Then at the end of the week their is a host of inflation data out which may just help the USD recover some of its losses.
Regardless of the currency that you need to buy or sell please feel free to email me at [email protected]. Because there are always so many reasons why the rates can move one way or the other so quickly it is good to have a good broker on side who can keep you informed of all the market movements to help you maximize your currency conversion.
Thank you for reading.