With the Australian Dollar having a better week against most major currencies, most notably the Pound all eyes now turn to next week and Chinese data that we have due out early on Monday.
Chinese data has a large impact on the Australian Dollar and recently although things have been fairly quiet in terms of the Chinese stock market, Chinese data has still not been particularly great so another poor figure would not be a big surprise.
For those looking to exchange Australian Dollars for Sterling or to buy Australian Dollars with the Pound then there is no avoiding the referendum in the U.K on 23rd June. Expectations are for the U.K to remain within the EU however a closer than expected vote would not be a great surprise. The general view is that we may see a little weakness for the Pound in the lead up to the referendum and then should remain win then the Pound may then suddenly gain a lot of strength back.
We also need to remember that there is an election coming up in Australia which has the potential to weaken the Australian Dollar too so we have no doubt here that we are in for a rocky period coming up.
If you are in the middle of buying or selling a property overseas or if your business has upcoming requirements then you need to make sure you have a proactive broker on your side. There are options available to you including limit orders, stop losses and forward contracts, all of these can help you minimise your currency risk in this difficult market.
We here at Australian Dollar Forecast all work for one of the largest currency brokerages in the U.K with access to exceedingly competitive and rarely beaten rates of exchange, along with awards for our customer service. If you feel that we may be beneficial to you then feel free to get in touch with me (Daniel Wright) the creator of this site many years ago and I will be more than happy to help you personally. We deal with bank to bank transfers ranging from £1000 to multi-million pound exchanges and will be able to explain all of the options to you in clear and easy to understand terms. Email me today on [email protected] with a description of what you need to do and a contact number and I will contact you at the earliest opportunity. You can also call our trading floor hotline during trading hours on 01494 787 478.