For the last 10 months Australian dollar sellers buying sterling have experienced fantastic rates of exchange however I believe it’s only a matter of time until the pound starts to claw back losses.
The Australian dollar has been under pressure for the last 7 days due to the increase in global tension because of Syria and North Korea. At times of uncertainty commodity currencies including the Australian dollar are sold off as they are a risk.
China’s Monetary policy program is reported to have stopped having a positive impact on the Chinese impact which will overtime have a negative impact on the Australian dollar. It was reported a few weeks ago, Chinese Debt now represents 250% of their GDP.
As for the pound UK Prime Minister Theresa May has triggered Article 50 which has bought some stability and certainity to the pound.
If you emigrating to the UK and are holding Australian dollars waiting to purchase sterling, I believe now is the time to trade. The currency company I work for can achieve clients fantastic rates compared to their banks.
To get an understanding of the process, I recommend emailing me with your requirements (amounts, timescales) and I will respond with the process of using our brokerage [email protected].
Data releases to look out for next week
To start the week China are set to release their latest GDP numbers. As I have stated above their is a correlation between China and Australian dollar exchange rates. If their is going to be a slow down in China GDP numbers will start to fall at some stage.
Tuesday morning the Reserve Bank of Australia release their latest minutes. This release shouldn’t spring any surprises. To finish the week Australian Bank business confidence will be release Thursday morning.
Enjoy your easter weekend