Unemployment Figures came in yesterday and we have seen the data come in better than expected at 6.2%. We did not see any big swings possibly due to more underlying problems. Australia’s Economy is currently looking fragile. It is common knowledge that Australia relies heavily on Chinese exports and with China’s slowing growth it could be set to get worse for the Australian Dollar. This is also coupled with the property inflation problem which is currently looking unsustainable. There is a strong possibility the Reserve Bank of Australia could drop interest rates which could cause significant AUD weakness. If you are selling Australian Dollars it may be wise to get your skates on. AUD buyers hang on until Tuesday for the interest rate decision.
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 am prepared 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.