Overnight the Australian Dollar has found life rather tough, seeing losses against most major currencies, following slightly less dovish comments from the RBNZ (Reserve Bank of New Zealand) in their latest interest rate decision and statement.
This news sent the New Zealand Dollar sharply higher, which in turn weakened the Australian Dollar, making it cheaper to buy.
For the coming week or so, Australian Dollar movements may be widely based on risk sentiment and economic news from around the world, this is due to the fact that their really is very little data of note that will move the markets before the end of the month.
Whilst this is the case we must remember that in the financial markets many surprises occur, and typically it will be just when everyone lets their guard down and assumes the rate will remain stable for a short period of time that something comes out to cause quite the opposite!
In my opinion I can still see a small period of Australian Dollar weakness coming up, this is due to the slow down we are seeing in China, attitude to risk diminishing around the globe and interest rates in the U.S slowly creeping up.
In times of global uncertainty and when investors have a slightly less riskier attitude you do tend to find that currencies such as the Australian Dollar, New Zealand Dollar and South African Rand will weaken, where as the perceived ‘safe’ options such as the U.S Dollar and Swiss Franc will gain value. As i’m sure many of our readers will know there are plenty of problems around the world at the moment both economic and political so we are currently in choppy waters for investors.
If you have a currency exchange to carry out involving the Australian Dollar into any major currency then I can help you, both with the timing of the exchange and getting the best rate when you come to book it out.
Should you feel I could be of use then feel free to contact me (Daniel Wright) the creator of this website on [email protected] with a description of your needs and I will be more than happy to help you personally.