The Australian dollar has continued to lose value this week as the trend continues. The AUD has lost over 4% over the last 30 days and closer to 14% over the last 3 months. From that summary I think many will agree that the trend is against anyone holding AUD. Great news for anyone looking at buying AUD however an alarming and expensive trend for anyone holding AUD. The good news however is that the currency market does not move in a straight line and especially with this currency pair volatility will continue. This means that there will be opportunities for the quick movers and alert traders.
The problem for sellers however is that even if we see a spike giving them a good price to sell in 10 days’ time, will it be better than where we are now?
Will the trend out way any potential Spikes?
Here we provide a pro-active service helping clients in this situation, putting strategies together allowing them to try and time their trade well using limit orders, spike notifications and rate alerts. If this sounds of interest please feel free to get in contact via email at [email protected] or contact me on the normal phone number – Steve Eakins
Data to drive markets for the next few weeks include:
- News on US QE tapering dates – this affects the risk appetite of traders and will therefore determine the demand for the AUD
- Australian Data releases – Anything changing the forecast of the economy will also change the dollar’s value
- UK Data releases – In the same way anything that changes the views on the strength of the UK economy will impact Sterling strength
- Australian Election news – Political views will also have an impact on the currency and with an election due at the beginning of September this will continue to impact the markets
- China data – As Australia’s largest trading partner, anything that changes China’s prospects will change the fortunes of the Australian Dollar
With this much news, keeping a close eye on the markets will be key to getting the best price. If you would like our assistance or to receive a live quotation on what we could offer please feel free to contact myself Steve Eakins at [email protected]