Susan from Moneycorp

Continued good momentum for New Zealand; Steady as She Goes for the Australian Dollar; Strangely positive news for the Euro and a complete mess in the UK and the USA. That Was The Week That Was. https://www.moneycorp.com/en-au/news-hub/weekly-brief-26-june-2020/

Further threats to Australia from China, Chaos and turmoil in the Un-United States of America, Painful statistics out of Europe, More concern in the UK and Nothing but good news out of New Zealand: That was the Week that Was. https://www.moneycorp.com/en-au/news-hub/weekly-brief22/

Britain nowhere near controlling it's pandemic, America imploding, a more subdued Chinese rhetoric and a very strong Australian Dollar; That Was The Week That Was. https://www.moneycorp.com/en-au/news-hub/weekly-brief2/

Hi everyone ~ A lot of members have been asking me recently about the direction of the Pound & Australian Dollar - especially people who have to make regular international payments or have a payment deadline coming up, where exchange rate fluctuations could make a big impact. We've spoken about the benefit a Forward contract could bring. Thought I'd post a short blog here so that everyone can see how it works: https://www.moneycorp.com/en-au/content-hub/blogs/20192/march/a-currency-forward-contract/

Hello! Don't forget you can lock in a good rate when you see one with a 'forward' FX contract if you don't need the money right away. Sounds so much more complicated than it is! ie. My UK Pension payments are paid quarterly. Although I'm not expecting one until July, when the rate was at 2.00 (beginning of April) I could have booked a deal on that day and locked in the rate for the funds to change hands on 01st July. All it means is you're securing a deal at a rate you like, but no money is changing hands until the date you need it. Definitely something to consider to prevent being exposed to market volatility>

Hi there, At the moment there's little reason for GBP to strengthen, given the Covid numbers remaining extremely high in the UK and no containment of the virus - as well, with the Bank of England signalling there could be negative interest rates in the UK, the AUD and the Aus economy is definitely looking the stronger of the two. The only major issue which could unsettle that Australia's ongoing war of words with China and the enormous tariffs they are slapping on Australian goods - whilst we know they're largely dependent on Australia for their huge Beef requirement (their second source being South America - which is now the centre of the pandemic) and Barley, until the waters calm the markets are understandably nervous about AUD volatility.

Evening everyone ~ China imposing taxes on Australian exports, NZ’s Performance Services Index showing the lowest activity since 2007, The potential for negative interest rates in the UK and, Nothing good whatsoever coming out of America: That Was The Week That Was. https://www.moneycorp.com/en-au/news-hub/weekly-brief/

Hello You can definitely transfer bank to bank in Pounds - but whichever bank you transfer into here will expect to do the FX conversion for you. And the rates are really poor. Even if you pay your GBP into, say, a GBP account with CBA in Australia, always use an outside company to do the FX for you. The Bank's margins here are shocking! between 3-5%

New Zealand bounces out of lockdown - and their currency falls heavily; America announces it's highest unemployment rate - but the USD rises; The UK, especially, seems to be going through a particularly low point and Australia looks best-placed to emerge soonest and more positively than most - but the AUD lost ground to the USD. That Was The Week That Was.... https://www.moneycorp.com/en-au/news-hub/coronabrexit-woes/

Hi everyone! I hope this finds you all well today and in good health ~ We've had many members take up our special PIO promotion of up to £50 cash back - which is great to see! Don't forget you can all benefit from this until the offer closes on 31. May. For the members new to Moneycorp & currently making their first transfers with us, I wanted to give a quick 4-step process to opening your account: A Guide to Sending Money Overseas More than a thousand Poms in Oz members have benefited from using Moneycorp for their international money transfers. Moneycorp’s services are straightforward, simple to use and will save you money. Here's the 4 step process and how it works: 1. Set up your Moneycorp account To start making money transfers, you will need to open an account with Moneycorp. This can be done online and only takes a few minutes - click here to register Opening an account carries no costs or obligations on your behalf. 2. Choose the best solution for your needs Once your Account is set up, your personal account manager will contact you to identify and discuss your specific requirements. They will be your personal point of contact for all future transactions and will explain the proposed course of action and options that best suits your personal needs. 3. Arrange your finances Once you have verbally agreed to a money transfer with your personal account manager, you will be sent a Contract Summary outlining the details. This document will include giving you instructions on how to transfer your funds to Moneycorp. Your account manager will also explain how to send funds to your nominated bank account(s) following the transaction. For further information regarding the different options when buying your currency, please click here 4. Payment methods You may use one of a variety of payment methods to send your funds to Moneycorp. Everything will be explained clearly by our staff and there is a dedicated customer service team who can help you with any questions you might have. Poms in Oz & Moneycorp Exclusively for PomsInOz members, you will not pay any transfer fees when sending your money overseas. Register with Moneycorp by clicking here For more information call +44 (0)20 7589 3000, or +61 2 8228 1490 ~ please remember to quote PomsInOz.

US-China relations look strained, Australia-China relations look strained, Boris is back with the Churchillian spirit and even the worst statistics cannot dampen the US stock market. "Sell in May, Go away" might just be the wisest piece of advice for the risk (& ulcer) averse. https://www.moneycorp.com/en-au/news-hub/nasty-numbers/

Money back on your account While these times are challenging, markets are still moving. And, with uncertainty, currencies can fluctuate even more, but don’t worry, we keep our clients up-to-date, to help you feel a little more in control. As a little thank you for being a valued Poms in Oz member, you’ll receive £25 when you make an international payment of £2,500+, or £50 for an international payment of £5,000+, before midnight 31. May 2020*. Login to your account or, if you’re a new user, register for a free account using the dedicated PIO link: https://register.moneycorp.com/?rp=10168283 Remember when you make a transfer, you also benefit from: Stay informed with the rates We understand you’ll have other things to focus on, so you don’t need to watch the markets closely as we keep our clients up-to-date with rate alerts. Control your money Lock in a current exchange rate for up to two years with a forward contract (this may require a deposit) if you’re not quite ready to make the payment. Anywhere you need Download our app (UK Only) and make online payments from your mobile 24/7 with our secure online platform. Available for both Android and iOS. Any questions? +61 2 8228 1490 Email us: Australiaenquiries@moneycorp.com Send us your feedback Follow us Moneycorp is a reference to TTT Moneycorp Pty Limited which is registered in Australia (business number 116612858). Its principal place of business is Level 15 Exchange Tower, 2 The Esplanade, Perth WA 6000, Australia. TTT Moneycorp Pty Limited is authorised to deal in foreign exchange contracts and buy/sell quotes to retail and wholesale clients as an Authorised Representative (reference number 445555) of Rochford Capital Pty Limited (AFSL License No. 361276). *Terms & Conditions

HI everyone, With the currency markets being understandably volatile at the moment, I'm going to start posting our weekly reviews to clarify what really happened once the headlines died down. Here's a summary of last week: https://www.moneycorp.com/en-gb/news-hub/weekly-brief-24-april-2020/ As always, feel free to call for a chat anytime: there are a lot of questions at the moment - and they're all valid ones! 0414 838 586 Susan Watts Director of Business TTT Moneycorp PTY Ltd Australia T: +61 414 838586 Weekly currency summary - 24 April 2020.pdf

Hi everyone ~ I hope we'll all be able to enjoy the best Easter weekend we can; friends, family and the things you love the most. Just wanted to send through our weekly round-up of the major currency movements from last week's Covid market - understandably a very volatile time - Weekly Update 10.April 2020 GBP Held back by PM’s absence The FX market was not at its most coherent over the shortened pre-holiday week. Initially the mood was upbeat, in anticipation that the tragic Covid-19 pandemic would soon have run its course and that life would return to normal. Then the doubts set in, and then they evaporated again. Sterling found itself in no-man’s land, left behind, in turn by the safe-havens and the commodity dollars. An eventual net average loss of 0.8% left sterling level with the US dollar and cost it a fifth of a euro cent. It lost appreciable ground to the Australian and NZ dollars. Sterling’s situation was not improved by the prime minister in the intensive care unit of St Thomas’s Hospital. In his absence the government found it difficult to avoid looking indecisive and investors were less than impressed. EUR No agreement on fiscal stimulus The purchasing managers’ index readings on Friday provided a reminder of just how difficult life has become for the services sector in parts of Europe. On a scale of 0-100, where 50 represents stagnation and zero means annihilation, Italy scored 17.4 in March. Euroland as a whole was not a whole lot better at 26.4 and the composite euro zone reading was a dismal 29.7 (UK 36.0). For the euro the biggest challenge was the failure of euro zone finance ministers to find common cause on joint fiscal stimulus. After a 16-hour video conference on Tuesday the Eurogroup was unable to agree on a way to provide emergency finance to the countries – particularly Italy – hardest-hit by the tragic Coronavirus. The impasse highlighted the EU’s national divisions but did not prevent it picking up a fifth of a US cent. USD Rides out job losses In the normal course of affairs the single most important US economic statistic is the monthly change in nonfarm payrolls. Over the last 12 months they averaged a 150k increase. Last Friday’s figure, nominally for March, was an aberration, falling 701k. However, the timing of the data completely understated the carnage that has taken place in the US labour market. In the last two weeks 10 million people signed on unemployed and another six million are likely to have joined them in this week’s figures. However, so inured are investors to miserable statistics that there was no reaction from the US dollar. It was unchanged against sterling and a fifth of a cent lower against the euro. AUD This week’s top performer Although the data and economic news from Australia were mostly mediocre, the Aussie was the week’s top performer, strengthening by an average of 1.7% against the other majors. It took more than five cents off sterling and added one and a half US cents. The main driver for the Aussie was the same one that demoted the safe-haven Japanese yen to the back of the field. Investors found renewed confidence that things would be alright as soon as Covid-19 has vanished. It may have been premature but, ‘Fear Of Missing Out’, took risk assets and commodity currencies higher across the board. February’s 0.5% monthly rise in retail sales was irrelevant but the downturn in international trade for the same month was at least in part a function of the shutdown in China. When the Reserve Bank of Australia left its benchmark Cash Rate unchanged at 0.25% on Tuesday it noted that “a very large economic contraction is… expected to be recorded in the June quarter and the unemployment rate is expected to increase to its highest level for many years”. NZD Following the Aussie True to form, the Kiwi shared some, but not all of the Aussie’s fate. This week it had a positive effect, taking the NZ dollar an average of 0.9% higher against its peers. It added one US cent and took three and a half cents off sterling. NZ data showed a 3.9% monthly fall for electronic card retail sales in March and a 1.2% fortnightly increase in dairy prices. The most interesting number, however, was the sharp fall in business confidence. NZIER’s Quarterly Survey of Business Opinion found confidence plummeting from -21% to -70% in March. A net 16% of firms plan to reduce headcount in the next quarter.

"We know that behind every currency transaction is someone’s ambition, passion or dream and we’re entrusted with something very important." Our Managing Director Lee McDarby shares some well-rounded thoughts here on the current situation for those changing currency, making foreign payments or buying shares ~ https://www.linkedin.com/posts/leemcdarby_stayhome-staysafe-moneycorp-ugcPost-6652844440283160576-Jnvf

Happy Friday evening everyone, I'm not sure if too many people follow the USD movements, but at the moment the USD and the Dow Jones is having a significant effect on the world's currrencies. I thought I'd add our USD weekly round-up tonight for anyone who's interested. I hope everyone has a restful weekend ~ USD weekly roundup – Friday 27. March. The US dollar has remained relatively resilient so far during the pandemic, but events have shown that it is not entirely invincible. As the virus continues to spread across the US and it is clear that the country isn’t insulated against such global woes, and this has impacted the US dollar. The US Federal Reserve cut its Funds rate twice in March; it now stands at 0-0.25%. This isn’t the only action available to the Fed and they’ve taken a comprehensive approach, making swap arrangements to provide dollars to the central banks of Australia, Brazil, South Korea, Mexico, Singapore, Sweden, Denmark, Norway and New Zealand, allowing them to tap up to $450 billion. It has also pledged to soak up a wide range of securities in order to calm markets, support businesses and keep credit flowing. A decade ago the Fed’s early rounds of quantitative easing purchases were limited to US Treasury instruments. The criteria broadened in subsequent rounds of QE. The Fed’s latest “whatever it takes” programme opens the floodgates to all manner of instruments and sets no limit on what it will spend, which means almost unlimited quantitative easing. This week, US equities fell by 16% at one point and some investors are starting to look forward to life after the worst of the pandemic has receded. Investment bank Morgan Stanley estimates that the US economy will shrink by 30% in the second quarter. St Louis Fed President James Bullard is more optimistic, suggesting that “a potential $2.5 trillion hit coming to the economy is both necessary and manageable… an investment in public health that lays the groundwork for a rapid rebound.” In either case, it may be that it is too close to call at the moment. Pressure on the dollar has come from the perception of the government’s response to the pandemic; the USD2trillion package is expected to be approved by the end of the week. Many feel that the US have been late off the blocks when it comes to offering support and may not have done enough to prevent the spread of the virus in the meantime. Employment numbers are expected to show a jump of 2m people unemployed, but in the circumstances this may not prove catastrophic of the dollar when the results are published. While it is difficult to project with any certainty, what is clear is that for some time the US dollar may have been operating business as usual, but there is nothing usual about the situation that the world has found itself in. Liquidity is in short supply and fluctuations this week have shown that the US dollar is not entirely immune to the same pressures as its currency rivals. The situation is changing by the hour and if you’re looking to buy or sell US dollars, it’s worth working with a currency specialist like moneycorp. As well as allowing you to organise your transfer online or over the phone while you’re staying at home, great rates, low transfer fees and expert guidance on the rapidly evolving market will help you make the most of your money and get it where it needs to be in such difficult times.

Hi Everyone, Here's the latest overview that we have regarding the GBP/AUD market: currently 1.9730 as we speak - What’s happening to the AUD/GBP exchange rate? A quick look at the performance of the Australian dollar in the FX market during the global pandemic The Australian dollar has been under pressure all year; as a commodity-based currency, it was among the first to struggle due to the impact of the coronavirus. Now, as the countries implement various forms of lock-down and governments scramble to deliver aid packages to support workers and stalled businesses, the picture has become more complex and there is further volatility in the FX market which is causing fluctuations in the Aussie. The initial stimulus plan announced by the Australian government, including AUD 25,000 to small businesses and AUD 750 to every welfare recipients, did nothing to help the Australian dollar. The measures were announced in concert with a second rate cut from the Reserve Bank of Australia (RBA), which also announced a funding facility for SMEs and a 0.25% target rate for three-year government bonds. Neither did anything to help the Aussie, which fell by an average of 2.1% against a basket of currencies, including three cents to the pound. It isn’t all bad news; the RBA’s AUD 5bn stimulus by buying up government securities did give the Australian dollar a boost and it made gains against the US dollar. The move was seen as a positive for local stock markets which could help the currency in the coming weeks, although investors remain cautious. News from the US Federal Reserve inadvertently provided assistance to the Australian dollar this week at a time when the pound succumbed to the sustained pressure of the crisis. The Aussie made gains against sterling following the Fed’s plans to buy government-backed debt, which led to brief optimism in global financial markets. This optimism extended to a belief in the efficacy of the second coronavirus stimulus package from the Australian government. The relief is now equivalent to almost 10% of Australia’s GDP. At the moment, statistics are largely being ignored but the provisional purchasing managers’ indices from Australia showed a surprise 50.1 for the manufacturing PMI. The composite measure came in at 40.7, however, because the services PMI was recorded at 39.8. The reason that the numbers have such little impact is that such a drop in performance is expected across the globe. The challenge for the Australian dollar is that investors expect that the current crisis may put the country into a prolonged recession. Against the pound, the Australian dollar remains volatile. Both currencies are under pressure and much relies on the effectiveness of the respective government efforts to stem the spread of the virus as well as the economic measures designed to support the economy. The US will also be a factor for both currencies because of the impact on global financial markets and the US dollar is currently under pressure after a support package was stalled in Congress and the government aid response to aid was found lacking. The situation is changing by the hour and if you’re looking to send funds back to the UK or elsewhere in the world, it’s worth working with a currency specialist like moneycorp. As well as allowing you to organise your transfer online or over the phone while you’re staying at home, great rates, low fees and expert guidance on the rapidly evolving market will help you make the most of your money and get it where it needs to be in such difficult times. Moneycorp is a reference to TTT Moneycorp Pty Limited which is registered in Australia (business number 116612858). Its principal place of business is Level 15 Exchange Tower, 2 The Esplanade, Perth WA 6000, Australia. TTT Moneycorp Pty Limited is authorised to deal in foreign exchange contracts and buy/sell quotes to retail and wholesale clients as an Authorised Representative (reference number 445555) of Rochford Capital Pty Limited (AFSL License No. 361276).

Hi there! Yes, your money is protected by the UK regulatory authority the FCA (Financial Conduct Authority) under their FSCS (Financial Services Compensation Scheme) which was set up to protect every individual with an account in the UK holding up to £85,000. Sue,

Hi everyone ~ Happy Friday! So many of us have investments both here and in the UK: shares, rental income, pensions ~ here's a white paper we wrote with this specifically in mind: https://www.moneycorp.com/en-gb/news-hub/managing-investments-and-income-overseas/

Not sure if anyone's seen this already, but I think it's fantastic! Win-win for everyone https://www.moneycorp.com/en-au/news-hub/extended-working-holiday-visa-for-australia/

Hello everyone - Happy Friday and a great weekend to you all ~ Sue from Moneycorp (Australia) here and it's really heartening to read all these messages.... I love it when people are so informed and genuinely want to help others through the many mazes of moving from one country to the next - I think as expats we all have so much knowledge to give. The experienced voices above are right: Non-bank registered Foreign Exchange companies like Moneycorp, Transferwise, Western Union, CurrencyWise etc will always give a better rate than Banks. They will also make fee-free payments to your nominated beneficiary (banks typically charge between £25-35/$25-45 to make an international payment) and the margin they take tends to be around 0.75/1.00% compared to a bank who - in my experience - take around 3% minimum. Sometimes as high as 5%. Banks have been able to get away with charging these margins until companies like Moneycorp came into the market to challenge them. As you know, the Foreign Exchange and Payments space has been undergoing a great deal of change in the past 5years, especially in Australia in the wake of the Royal Commission investigation into Banking fees & charges. Moneycorp is regulated for Poms by both the Bank of England/PRA/FCA and Royal Bank of Australia/ASIC. Like every Financial Institution we have to be completely transparent on our pricing and processes - and at Moneycorp we also undertake to be audited twice per year by KPMG as we believe we should be the Industry benchmark and the people to set the precedent in industry standards. All business must be based on trust and ethics. With the price of currency changing in the money market (on average) twice per second - of every second of every day - there will always be continual movement in both directions when booking a trade - the one thing we cannot control - but we can all control our fees and charges: our dealing team are always on hand to talk to new and existing clients and really welcome the opportunity to do so, so that you can get a Live market update. If you'd like to have a chat please call them on: (02) 8228 1490 (Aus) (203) 589 0176 (UK) You can reach me at anytime on 0414 838586 or susan.watts@moneycorp.com

hi there, Yes, your thinking is right - If your AUD was being held in your moneycorp account and you wanted to send a sum to a friend/family member in Australia, you could pay directly to their account. Same with if you needed to pay a Real Estate agent - you can pay direct to their account.

Hello everyone! Good morning from (Moneycorp!) Sydney - my huge thanks to our lovely Pom Queen for all of her great info yesterday regarding transfers and multi-currency cards (where you can pre-load a sum (ie. £500) and use that card to spend as local currency when you arrive at your given destination) ~ so many to choose from with, seemingly, every Bank and Financial Institution issuing one for their customers. I've been away for the past two days for my birthday and Mum has flown over to see me as a special treat Back now and on hand for anything I can help with (as an Expat that includes questions on airlines, hotels, food, flight costs, train timetables, quokka sightings, restaurants etc....) I might have spent a lifetime in Foreign Exchange, but my clients have even more important other needs once they're here!

Hello again, Yes, you will be able to pay into your account with us and then, after doing your fx transaction, you'll have the option to pay those funds to whichever Financial Institution you hold your account with. ie. If you're holding £ with HSBC in the UK and wish to convert it to AUD, you'll instruct HSBC to pay £ to your £ account with Moneycorp, book your fx transaction and then instruct Moneycorp to pay to your AU$ account in Australia, ie. Westpac/National Australia Bank. You may leave your currency in your Moneycorp account - just as you would a bank account - for as long as you wish, then pay to your beneficiaries as/when you'd like to transfer those funds. Feel free to call me on +61 414 838586 if you're in Australia - or you can always send an email to me: susan.watts@moneycorp.com if we're out of hours!