Australian Dollar – When to Exchange??
The Australian Dollar has had a volatile weeks trading, as its susceptibility to adverse commodity movements has become more apparent. Last week saw a 2% shift within 10 minutes, in line with the drop in price of Brent Crude Oil. As the Australian economy is so heavily reliant on the sale of its natural assets and commodities, any substantial reduction in commodity prices on the stock market sees the AUD hit hard. Investors tend to weaken the currency very quickly by withdrawing funds at the first sign of problems!
With China the main user of Australian commodities, any growth or contraction of the Chinese Economy (displayed in their data released) affects AUD. Tomorrow morning China releases its new loans data – an indication as to the new lending for businesses and personal customers within the month. It is well publicised that the Chinese Economy is not growing at the same rate as previous, so a low figure could see subsequent AUD weakness.
As such if you are buying Australian Dollars you may wish to get an exchange booked in a potential window of opportunity tomorrow morning (assuming a low figure).
Please do feel free to drop me a line if you have an AUD exchange – be it buying or selling. I am able to assist you in achieving award winning exchange rates.
I’m on 01494 787 478 or firstname.lastname@example.org
Have a good evening…