The Australian Dollar has faced an extremely volatile 24 hours as global stocks feel the burn once again. China once again led to Australian Dollar weakness overnight however unemployment figures showed that unemployment remained at 5.8% against expectations of a rise to 5.9%. This gave the Australian Dollar a little support in what may be set to be a torrid time for the Australian Dollar should China continue to struggle.
On Tuesday morning in Australia (Monday night in the U.K) we have Chinese growth figures being released. Reports are that we may see the worst growth for China in over 20 years. Although the growth will still be a solid growth at 6.8% this is still seen as a negative for China as growth figures there have been exceptional over the years.
Should we see the figure as expected we may see the Australian Dollar have a tough night and should you be looking to buy Australian Dollars then this may be the opportunity for you.
Personally I would seek to take advantage of a limit order in these volatile times, this is where you can place a level that you wish to purchase your currency at and if it should become achievable at any point 24 hours a day 7 days a week then your currency will be bought out automatically for you and we would simply get in touch to let you know the good news as soon as it is a convenient time to call.
If you would like to make sure you get the most for your money on any currency exchange involving buying or selling Australian Dollars then it is well worth getting in touch with me directly. I have had thousands of clients contact me through this site over the years and only a handful have not been able to better the rate they have been offered by using us over their current brokerage or bank.
It takes just two minutes to email me for a quote or for more information and it may be well worth your while in the long run. You can contact me (Daniel Wright) directly on [email protected] please ensure you leave a brief description of your requirements and a telephone number and I will be more than happy to get in touch.