The Australian dollar has been especially volatile over the last fortnight. As many regular readers will be aware this has come from the change in demand following the updates from China. IN summary what happened was China data was very poor, stock markets fell steeply there and the peoples bank of China had to step in to try and steady the markets. This had a global impact as it is the second largest economy and where most global growth has been forecasted to come from. For example between 2008 and 2011 China grew by over 30% whereas the US only by 8%. This fall changed forecasts for demand for the raw materials coming from Australia impacting there stock prices and value. This movement was further driven by a lot of carry trades which have been cancelled recently. This added additional demand for AUD sellers, changing prices further.
Currently levels have however settled following the steep changes this time last year and now sits close to 2.15. This week I expect rates to climb a little further with the highest levels being towards the end of the week. This is when we have a host of US data. Next week there is yet more China data which again I expect to have a big impact on market values. Generally speaking if you have AUD to buy there is more opportunities on the horizon, it is AUD sellers which are in a painful situation with certainly more risks than opportunities to get a better price than where the markets sit currently.
For a full breakdown on what is coming and how to time your transfers please feel free to get in contact. Equally happy to provide quotations and comparisons to prove to you what we can do and the saving that you can see using one of the longest running specialist firms in the city of London. Simple put if we could not save you money we would not be in business. Contact me directly via email at [email protected] for a personal response.