In the early hours of the morning Australia released their latest wage growth numbers for the last quarter, and the Australian dollar lost value as the numbers disappointed. This release has the potential to now influence the next round of inflation and consumer spending which again could cause problems for clients holding onto Australian dollars.
The US have also released important data today in the form of Consumer Price index also known as inflation. The inflation numbers rose to 1.8% from 1.7% and I believe this is the last nail in the coffin and the Federal Reserve will hike interest rates on December 13th.
In recent years currency speculators appear to bounce between the Australian dollar and US dollar, as the Australian dollar returns high interest on investments and the US dollar is a safe haven currency. If the Federal Reserve raise interest rates US and Australian interest rates will both be 1.5% and I therefore expect to see a major sell off of Australian dollars to buy US dollars.
Therefore clients buying the Australian dollars may receive improved rates in the months to come, where as Australian dollar sellers may wish to buy their currency sooner rather than later.
If you need to buy or sell Australian dollars and would like to save as much money as possible, feel free to email me with your requirements and I will respond with the process of using our company [email protected]. As a company we pride ourselves in the ability to get you a better exchange rate than your current currency provider or your bank. In addition we can outline your options and the potential future events, which will impact your exchange rate. This will help you to make informed and educated decisions.