We have seen AUD strengthen this week over Sterling. The general consensus was that China’s manufacturing date would come in low, demonstrating a further slow down in their economy. Australia are heavily dependent on their export of raw materials to the Chinese, so a drop will cause AUD weakness. However figures came in better than expected and we have seen an AUD spike. Personally I think this maybe a small window of opportunity for AUD sellers. I think there are some much deeper problems in China’s economy that are yet to come to light. Have a little google for “China Shadow Banking”.
There is also serious problems with Australia’s over inflated house prices, a few months and it will become unsustainable. With these factors in mind there is an outside chance of a interest rate drop on Tuesday. Keep a close eye on the data release if you are buying AUD a drop could well push GBP/AUD back up to 2.20. Interest rate decision comes in at 3.30am on 6.10.15.
I do have several large GBP-AUD trades going through in the coming days that potentially I could tag new clients on to and achieve a very competitive rate. Please do get in touch if this is something of interest. I will guarantee to beat any bank or brokerage’s exchange rates.
I am currently offering a free rate alert service, just drop a line or e-mail with your currency requirements including your time scale and the levels you are hoping to obtain and I will notify you of any significant movement.
Thank you for reading today’s Blog, I would greatly appreciate any feedback you have and would take pleasure in replying personally. I am more than than happy to assist you with any of your currency requirements. Feel free to e-mail me on [email protected] or call on 01494 787 478 and ask for Daniel Johnson.