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John from Moneycorp

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John from Moneycorp last won the day on March 22 2016

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About John from Moneycorp

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    Foreign Exchange Expert
  • Birthday 22/05/1981

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  1. John from Moneycorp

    The UK Pound V Australian Dollar

    Australian Dollar had a marginal recovery against Sterling on Tuesday - this was a response to an optimistic Reserve Bank of Australia (RBA) update.
  2. John from Moneycorp

    The UK Pound V Australian Dollar

    The Aussie strengthened slightly against the NZ dollar and added a third of a US cent but that was no great achievement. It lost nearly two cents to sterling and weakened by an average of 0.4% against the other ten most actively-traded currencies. It was mostly a sentiment thing. The Aussie has been heading lower against the US dollar since the end of January and investors have not yet been persuaded that a correction is due. Had its fortunes been decided by the Australian economic data it would have done somewhat better: consumer confidence was a little flaky but the employment figures for August were undeniably strong, with 44k new jobs. UK ecostats were mostly helpful to the pound, with a narrower trade deficit higher wage increases and an estimated 0.3% growth in July alone. Michel Barnier also helped: the EU negotiator said a Brexit deal was possible within six to eight weeks.
  3. John from Moneycorp

    The UK Pound V Australian Dollar

    Australian dollar marginally stronger - news from Australia was fairly positive, the economy is creating new jobs at a decent rate.
  4. John from Moneycorp

    The UK Pound V Australian Dollar

    Pound is stronger against the Australian dollar - this is following Michel Barnier, the EU's top negotiator, informing a forum in Slovenia that it was "realistic" to expect a Brexit deal in six to eight weeks.
  5. John from Moneycorp

    The UK Pound V Australian Dollar

    AUD Weekly Currency Update The Australian dollar fell to a 27-month low against the US dollar this week after the decision by the Reserve Bank to maintain the current interest rate. Coupled with political uncertainty, a slowing of jobs and growth and the looming impact of the US/China trade war, the Aussie is also struggling against sterling. The pound has enjoyed sustained strength against the Australian dollar towards the end of the week, riding high on some positive Brexit news and taking advantage of the impact of static interest rates down under.
  6. John from Moneycorp

    The UK Pound V Australian Dollar

    Interesting update on the significant move that occurred yesterday. (30/08/2018) Sterling climbed steeply against the Australian dollar yesterday, after EU Brexit negotiator Michel Barnier stated the European Union wants to make a Brexit deal. He also alluded to the possibility of the UK being offered a bespoke arrangement. The positive sentiment strengthened the Sterling and by day’s end the pound had improved over 1.5%, up to 1.7850 from a 1.7520 low. The move is also a reminder that, Brexit worries aside, underlying growth in the UK economy has been solid. There are no further details, nor current roadblocks that either side is willing to compromise on, but for now the mood in the market is more sterling-positive than in recent weeks. At the same time in Australia we have again seen huge political upheaval, this time in the shape of former-PM Michael Turnball’s ousting. Should he also resign from Parliament, the government will lose their 1-seat majority and new PM Scott Morrison may call another General Election. Couple this uncertainty with the escalating trade war between Washington and Beijing and its likely negative impact on Australia’s export-driven economy and you can certainly make the argument for further sterling gains. But in the land of politics, in both counties, nothing is certain and anything is possible. Predicting the market is equally difficult, but evaluating the risks is possible. For more information about how Moneycorp can assist sign up now: https://www.moneycorp.com/uk/campaigns/partners/pio/
  7. John from Moneycorp

    The UK Pound V Australian Dollar

    Round up of the latest currency news below. The survival rate of Australian prime ministers in recent years is such that they allegedly get their business cards printed by the dozen. For the last five of them the average tenure was 2 1/4 years. Malcolm Turnbull came to grief on Friday as a result of another power struggle within the ruling Liberal party, his place taken by Scott Morrison, the former finance minister. Investors were not impressed by the performance, especially as the Liberal coalition is only managing to hang on to power with a wafer-thin majority. The Aussie was able to squeeze a fifth of a cent from the US dollar, which was beset by political scandals of its own, but lost nearly a cent to the pound. Sterling's week centred on the "no-deal-Brexit" papers, of which the government released the first two dozen on Thursday. Although theoretically negative for the pound, investors preferred to believe that they confirmed the impracticability of Britain leaving the EU without a deal.
  8. John from Moneycorp

    The UK Pound V Australian Dollar

    The Australian dollar and the euro suffered equally over the week, falling by 0.4% against the pound. In both cases the move had a lot to do with the gyrations of the Turkish lira, which lost and regained a fifth of its value. In the euro's case it was its proximity - geographically and economically - to the lira: for the Aussie it was the fear that Trump's tariffs on Turkey marked another escalation in the trade war that threatens all commodity-producers. The Australian economic data were fairly helpful. Although the economy lost 3,900 jobs in July there was a swing from part-time to full-time working and unemployment fell to a six-year low of 5.3%. Data from the UK were less compelling. Disappointment about slow wage growth and falling inflation was balanced by satisfaction that retail sales grew strongly in July. And behind it all lurked the Brexit bogeyman. Credit rating agency Fitch said on Thursday that it sees a growing risk of a no-deal divorce.
  9. John from Moneycorp

    The UK Pound V Australian Dollar

    UK data news - retail sales rose by 0.7% between June and July (according to the Office for National Statistics). That compares to a 0.5% fall in June and is above forecasts for a 0.2% increase. This news hasn't impacted the pound/Australian dollar yet.
  10. John from Moneycorp

    The UK Pound V Australian Dollar

    Inflation rose to 2.5 per cent in July - this was the first increase in the rate in 2018. The Office for National Statistics reported today that the Consumer Price Index rose by 2.4 per cent year on year in June - the increase was in line with expectations
  11. John from Moneycorp

    The UK Pound V Australian Dollar

    The UK economy grew by 0.4% in the second quarter of 2018.
  12. John from Moneycorp

    The UK Pound V Australian Dollar

    Today we discover how the UK's economy is performing, when growth figures for the second quarter of 2018 are released.
  13. John from Moneycorp

    The UK Pound V Australian Dollar

    The pound has fallen on continuing worries Britain will leave the EU without a trade deal.
  14. John from Moneycorp

    The UK Pound V Australian Dollar

    Some positive data released in Australia - a surge in the number of new building approvals were issued in June - this is promising as there have been fears recently over the Aussie housing market.
  15. John from Moneycorp

    The UK Pound V Australian Dollar

    This week, Dominic Raab, the new Brexit minister, conceded to a parliamentary committee that he is not leading the process but merely part of the "chain of command". Theresa May will herself take control of negotiations with Brussels. Mr Raab, somewhat unfortunately, likened the change to "shifting the Whitehall deck chairs”. Investors seemed happy with the new situation, believing it to be more conducive to a soft Brexit.
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