The Australian Dollar remains sensitive at the moment with quite stark movements over the last fortnight. It was only a few weeks ago when GBPAUD reached fresh multiple year highs but since then rates have dropped by as much as 5 cents making a huge different on any AUD purchase, $10,000 lost on a £200,000 purchase.
This again goes to show how quickly the market can move financially punishing those who are not pro-actively watching or those who have not put in a RATE ALERTS or SPIKE NOTIFICATION to cover themselves. These are services that we offer for free here, for more information call us on the normal number or register you interest via email at [email protected]
This week rates will remain changeable and to be honest I think the end of the week will be more violent that the start. We have a host of data due from Australia and the US all of which could impact the price you are paying for your currency. Overnight there is AUD Unemployment figures tonight, and then key data from the US tomorrow afternoon and Friday. The AUD will be particularly sensitive to the key US data as it impacts the risk appetite of traders and therefore their demand and subsequent price/value of the AUD.
This US data is expected to show quite an improvement compared to the previous month as their economy goes back to full speed following the harsh winter storms which impacted production earlier this year. This will probably change the risk appetite of traders into positive and drive the demand for the AUD skywards. All this suggests that anyone buying AUD may want to move before these releases, if however you are a seller of the AUD the smile on your face should continue to grow.
If you are in a position looking at trading in the currency market, make sure to get in contact to see if we can help. Over and above this pro-active information we also offer access to award winning exchange rates helping you secure a better price. Fundamentally if we could not save our clients’ money compared to their current provider, bank or broker, we would not be in business.
Contact myself STEVE EAKINS via my personal email at [email protected] or by calling +0044(0)1494-787 478 for an inform chat and quick quotation so you can see how much you could save.