Last night we saw the RBA leave rates on hold at 2%, leading to a little strength for the Australian Dollar against most major currencies.
The Reserve Bank of Australia suggested that although there clearly are some concerns about China and that falling commodity prices are having an impact on the economy they do not feel the need to make any moves just yet.
Thursday is the next big release of interest from Australia as we see the RBA monetary policy statement. Investors and speculators alike will be trying to gauge what the RBA plan to do next and should there be a hint to a cut still potentially being imminent then we may see the AUD suffer however if they do stand strong and hold their position then we may see the Australian Dollar gain further strength.
It is key in these situations to take advantage of limit orders so that if there is a big market movement overnight or during the trading day then it is taken advantage of for you automatically without you needing to be available.
These orders cost nothing to place and can be cancelled or amended at any time should they not be achieved.
If you have a currency exchange to carry out either now or in the coming weeks and months then I will be able to help you. Whether it is a limit order that is of interest or you just generally want a really good exchange rate then it is well worth contacting me directly. You can email me (Daniel Wright) on [email protected] and I will be more than happy to get in touch.