In a reasonably quiet week ahead for Australian Dollar news, the main focus for investors and speculators alike this week will be global attitude to risk and Australian unemployment figures. Global attitude to risk can change at any time, especially with the Trump/North Korean situation still ongoing and the unemployment figures are due out on Friday morning in Australia or overnight on Thursday night for those readers from the U.K.
Expectations are for unemployment levels to remain at 5.4% however with a positive improvement in the rise of jobs last month (which was unexpected) do not rule out movement for Australian Dollar exchange rates early on Friday.
Having just spent three weeks in Australia it does appear that views on the Australian economy are mixed at present. Some people I spoke to were really confident about how things were going and others were less positive, citing that they felt that certain areas were at the top of a housing bubble that was due to burst at any time.
My opinion from being on the ground over there, particularly in Sydney (where this bubble appears to have blown up the most) I do not see it crashing down anytime soon. There is a huge amount of building work going on and a great increase in new retail developments from what I can see, along with an influx of Chinese money I find it hard to see the house prices dropping off unless further restrictions are put in place to try and halt it artificially.
For me this suggests that the Australian Dollar should remain fairly strong in the early part of 2018, I do not expect large gains made by the Australian Dollar but I would be surprised not to see the currency hold its ground against most majors, as long as the banana skin of major global uncertainty comes along to change that.
If you have an Australian Dollar exchange to make in the coming days, weeks or months and you would like assistance not only on the timing of your transfer but also with achieving the very best rate of exchange too then I can help you personally.
Feel free to get in touch with me (Daniel Wright) by emailing me on [email protected] and I will be more than happy to get back to you. Having now worked at the same foreign exchange brokerage for over a decade I am well placed to assist you and will be more than happy to help.