Category Archives: AUD
Sterling exchange rates remain flat today – What is due out in the coming days that may impact the Pound (Daniel Wright)
The Pound has not really given us a huge amount to feed off of today however there are still a couple of important data releases due in the coming days that may impact your rate of exchange.
Tomorrow morning we have German growth figures which will no doubt impact the Euro in early trading and shortly after this we have a speech from the Governor of the RBA Glenn Stevens speaking over in Australia which is key for those with an interest in either buying or selling Australian Dollars.
Later in the afternoon we have a flurry of figures from the States which will keep tongues wagging about the interest rate hike and then after a fairly quiet morning for economic data on Wednesday we have lots more data from America including durable goods orders which are expected to show a slight improvement.
Personally I feel that this week we may remain fairly range bound against the Euro, we may lose a little ground against the Dollar if U.S data is good and I feel we may gain back a little of our recently lost ground against the Australian Dollar.
If you have a currency exchange to carry out in the next few days (or even in the coming weeks and months) then it will be well worth you getting in contact with me (Daniel Wright) directly.
I can help you both in terms of getting you a better exchange rate than you are able to achieve elsewhere along with helping you time when you buy the currency as this can make an even bigger difference.
All you would need to do to make an enquiry with me is to email firstname.lastname@example.org with a brief description of what sum you are looking to exchange and the timescales you are working to and I will be more than happy to assist you.
The Pound has trended on an upward curve against the EUR recently, with GBP/EUR levels creeping back towards the high’s we saw in the summer. This positive move was accentuated earlier this week following better than expected inflation data for the UK, which helped boost GBP/EUR levels up to 1.43. This was particularly poignant as low inflation has been one of primary concerns for the Bank of England (BoE) over recent months and although it is not at their target level of 2%, it is steadily improving.
The BoE have remained steadfast in their commitment to ensuring inflation levels reach their target level before they will commit to an interest rate hike. With this now looking unlikely for at least the next 12 months, the Pound will require other positive facets of the economy to drive it forward. Although we have seen a generally consistent run of positive data for the UK over recent months, we are not immune to further dips in our economic output. This was proved following the release of this morning’s UK Retail Sales figures, which came out worse than expected and halted the Pound’s rise in its tracks. I feel the EUR will continue to find support around 1.43 and we are unlikely to see the Pound break through the summer highs under current market conditions.
GBP/USD levels have remained fairly flat of late, with the Pound finding support around 1.52 on the exchange. However, I don’t see a major improvement for Sterling before the New Year, due to the likely December interest rate hike by the US Fed. This is now being factored into Cable exchange rates, so I wouldn’t anticipate a move under 1.50 if it does occur. If for any reason the Fed go against the grain and don’t hike rates, then expect GBP to gain value.
If you have an upcoming currency requirement and would like to be kept up to date with all the latest market movements, or simply wish to compare our award winning exchange rates with your current provider, then please feel free to contact me directly on email@example.com
The pound is at multi year highs against a number of currencies as the global economy evolves and investors shift investments to reflect where they believe the future is headed. Globally trillions are traded on exchange rates reflecting investors attitudes towards currencies and their respective economies. In the main sentiments focus on the US raising their interest rates which has led to Euro weakness and some mixed signals on sterling. The pound has risen as it becomes more likely the UK will raise rates if the US do, however the pound has fallen as funds are moved from sterling to the US dollar in anticipation of the USD strengthening. The main focus for the pound too has been the UK raising interest rates which is now actually looking less and less likely because of the Inflation situation, essentially the pound could easily sink because there is a a very low likelihood for the UK to raise interest rates whilst the Inflation rate is in negative territory.
The prospect for the pound next week is not too good with a number of key releases relating to Inflation on Tuesday. Simply put if I were buying a foreign currency with the pound I would be expecting a drop in the value of the pound next Tuesday as Inflation has been the biggest problem area for the UK. This could actually present some very good opportunities to sell a foreign currency and buy the pound too! Thursday is the latest Retail Sales figures for the UK with Friday offering up Government borrowing data highlighting any rise or fall in government borrowing.
If you are buying or selling the pound the next week is looking like a very important one to identify a new trend line on many currencies. GBPEUR is close to some of the best levels of this year whilst GBPUSD is threatening to break the as yet evasive sub 1.50 level. For more information at no cost or obligation please email me Jonathan on firstname.lastname@example.org
Sterling exchange rates up against Euro and Dollar yet down against Australian Dollar (Daniel Wright)
The Pound had a mixed day against most major currencies yesterday, making slight gains against the Euro and Dollar yet losing ground against the Australian Dollar overnight.
Unemployment levels showed an improvement to 5.3% for the U.K yet average earnings actually dropped off so employment data released in the morning more or less cancelled each other out.
The Euro is particularly shaky as it stands with fairly dovish comments from the Head of thew European Central bank Mario Draghi speaking this morning not helping and pushing the Euro to a three month low against Sterling meaning it is the best time to buy Euros in the past three months!
The Dollar has been a funny character of late and I believe that there is still scope for it to drop back towards 1.50 should the wheels remain in motion for an interest rate hike in December.
Regarding the Australian Dollar we had a big surprise as unemployment figures came out much better than expectations, leading to Australian Dollar strength overnight and pushing rates back into the 2.12 region. What is surprising at present is that the Australian economy is standing tall once again in the midst of a Chinese slowdown.
The Australian Dollar is showing as good a defence as the Australian rugby team did in the rugby world cup, much like it did in the European crisis but I am still firmly of the belief that at some point we will see a Nonu time crumble and the rate may make it back to 2.20.
If you are looking to purchase Euros, Dollars, Australian Dollars or any other major currency and you want to make sure that you get the most for your money then it is well worth you contacting me directly. You can email me (Daniel Wright) on email@example.com with a brief description of your requirements and the timescales you are working to and i will be more than happy to contact you personally.
It’s been a busy morning for the UK with a host of employment data released, along with a public address by Bank of England (BoE) governor Mark Carney. We’ve see some fluctuation on Sterling exchange off the back of these releases, with the Pound gaining position against the EUR, USD & AUD.
All eyes were focused on the UK unemployment figure, which came out better than expected for a second consecutive month. The official figure of 5.3% has moved the unemployment rate to a 7 year low, which is further evidence that the UK economic recovery is still firmly on track. This is particularly encouraging when you consider unemployment levels, along with inflation figures has been one of the primary concerns for the BoE over the past couple of years. It wasn’t all positive news for the UK however, with the average earnings coming out worse than expected at 2.5%. It was interesting to note that GBP/EUR levels did not improve initially following news that unemployment had fallen, probably due to the average earning figures, which initially diluted any positive move for the Pound.
The catalyst for Sterling’s improvement was BoE governor Mark Carney’s public address, where he remained bullish regarding most aspects of the UK economy. He highlighted our Manufacturing sector as a major positive, which has shown continued improvement over the past 12 months.
In reference to David Cameron’s recent statement, which set out guidelines for our future participation in the EU, I thought it was poignant that Carney stated regardless of the decision of 2017’s EU referendum the UK economy would continue to flourish. He went on to say that the ‘UK has enough domestic strength to overcome foreign weakness’, which will help to alleviate investor concerns over the negative impact of the on-going Eurozone debt crisis.
This led to market gains for Sterling, although with a UK interest rate hike now firmly on the backburner, I do expect both the EUR and USD to find support around the current levels.
If you have an upcoming currency requirement and would like to be kept up to date with all the latest market movements, or simply wish to compare our award winning exchange rates with your current provider, then please feel free to contact me on firstname.lastname@example.org
GBP/EUR, GBP/USD and other major pairings will see serious movement today with inflation hearings this morning (Steve Eakins)
This morning markets will avidly be watching the inflation hearings for the UK economy today conducted by the Parliamentary treasury committee. Last week, GBP/EUR, GBP/USD and GBP/AUD were hit the hardest with news that expectations for prolonged inflation problems in the UK economy will take interest rate rises off the table until 2017 at the earliest.
Arguably, since the 2007/8 financial crisis, the most important determinant of a currency’s value has been the timeline for when the interest rate on that currency would rise again from these prolonged and historic lows. This is why last week rates plunged by more than 3 cents on GBP/EUR and back down to 1.50 on GBP/USD.
The news was a shock why is why the government have called together hearings on inflation to understanding why the situation isn’t set to improve and to understand how the UK economy can better be protected. Difficult questions will be asked, and in a parliamentary setting rather than a press conference, these cannot be avoided.
Any news coming out of the hearings are set to reaffirm the negative news and fears which caused the mass sell-off of Sterling last week. While it is difficult to gauge the exact extent of what could happen on the markets today, analysts agree there doesn’t seem to be scope for positive news from the hearing to reverse any of Sterling’s lost gains.
As such I strongly recommend that anyone using Sterling as a purchasing currency before the end of the year should contact me straight away on 01494 787 478 and ask the reception for Steve. For GBP/EUR, GBP/USD. and GBP/AUD, it will be difficult for Sterling to recover from the losses expected, so I would not be surprised if the current rates on offer end up being the best available for the rest of 2015.
We can discuss a competitive quote to take advantage of these current highs, and these current levels can also be pegged to avoid upcoming harmful movements against your transfer. Having been a currency broker for over a decade, and I am confident in saying I will have no difficulty beating rates of exchange offered elsewhere. email@example.com
GBP/EUR, GBP/USD and GBP/AUD set for further slides for the second week of November (Joshua Privett)
Sterling finished last week incredibly poorly, particularly on GBP/EUR, GBP/USD, and GBP/AUD rates of exchange, with financial markets still reeling from the news that interest rates for the UK economy wouldn’t be lifted for the entirety of 2016.
The biggest movements for Pound exchange rates came against the Euro, with GBP/EUR up at 1.42 at Thursday lunchtime and down as low as 1.38 by Friday morning.
It’s rare that such finality is given to long-term financial policy for any country. This is why Sterling weakened so significantly in such a short period.
The reason why the Bank of England has suddenly taken such a long-term position mainly boils down to worries about inflation. The UK economy is currently posting the worst levels since records began, and these cannot be corrected in a short time frame.
Inflation hearings will be held on Tuesday by Parliament for the Bank of England to account for the current state of affairs and what is to be done. This will essentially reaffirm the reasons why markets lost confidence in the Pound last week as MP’s demand tough answers which BoE members can normally skirt around in press conferences. As such further falls on GBP/EUR, GBP/USD, GBP/AUD and other Sterling currency pairings are expected.
It seems that more Sterling weakness is yet to come and those looking to buy foreign currency have risk squarely at their feet in the coming months. In particular, Euros buyers should recall that just three weeks ago, GBP/EUR was down to 1.33 – the worst levels to buy since February – off the back of similar news about delays on interest rate hikes.
I strongly recommend that anyone looking to use Sterling as a purchasing currency, most importantly for GBP/EUR and GBP/USD which have been the most significant negative movement, should contact me by calling 01494 787 478 and asking the reception for Joshua to discuss a strategy for your transfer in order to negate any harmful effects for your exchange expected in the coming months.
I have never had a problem beating the rates of exchange offered elsewhere, and I will remind regular readers of my articles that these current buying levels can be fixed for up to 12 months should you wish to secure these current rates of exchange and avoid any negative downturns affecting your budget. firstname.lastname@example.org