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Susan Watts

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Everything posted by Susan Watts

  1. Susan Watts

    Covid

    "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
  2. Susan Watts

    USD market update:

    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.
  3. 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).
  4. Susan Watts

    Saying Hello!

    Hi everyone! Just thought I'd say Hello and introduce myself - my name's Susan and I look after the Moneycorp Australia office over here in Sydney I've been here a while - originally from the UK - and have been through the Migration process myself; so I completely understand how frustrating/painful/maddening/exciting/brilliant/crazy it can be! I do a lot of travelling & have been in the Banking business most of my life, so if I can help in any way just ask the questions
  5. Susan Watts

    Saying Hello!

    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,
  6. 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/
  7. 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/
  8. Susan Watts

    Transferring money from uk to Aus

    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
  9. Susan Watts

    Saying Hello!

    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.
  10. Susan Watts

    Saying Hello!

    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!
  11. Susan Watts

    Saying Hello!

    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!
  12. Susan Watts

    Saying Hello!

    Hi there, Great to hear from you ~ Moneycorp are the largest non-bank provider of foreign exchange and currency transfers, we've been in business for more than 40years and we provide a safe, transparent way for you to send different currencies around the world. Non-bank financial institutions operate with the same market price platforms as the Banks but take much smaller margins than Banks which is why you have more cash in your pocket by choosing an operator like Moneycorp.
  13. Susan Watts

    Can't believe it!

    SO happy for you!! This is clearly where you're meant to be
  14. https://www.moneycorp.com/en-au/news-hub/what-has-been-the-impact-of-the-coronavirus-on-the-australian-dollar/
  15. It hasn't slipped the minds of those fantastic people in our Copy team that tomorrow's a Special Day..... www.moneycorp.com/en-au/news-hub/sending-love-all-over-the-world/
  16. Morning everyone ~ With the Corona virus understandably having an impact on economies around the world, I thought I'd send through our overview of how trading and commentary went last week in our Australasian zone: https://www.moneycorp.com/globalassets/documents/terms-conditions/tcs/asian-currency-review---07th-february-2020.pdf
  17. I think the reason so many of us move to Australia is for the fantastic quality of life and the Work/Life balance the Aussie culture allows us. Something our marketing team recently wrote about ~ https://www.moneycorp.com/en-au/news-hub/finding-your-own-work-life-balance/
  18. Susan Watts

    Retiring to Oz ~

    Morning Everyone! Happy Friday from sunny Sydney I've recently had a large number of older clients making the permanent move over here for various reasons: some coming to join their children and grand-children, some from the UK because of their thoughts on Brexit, others because, now retired, they want a different life based more outdoors with kinder weather/lifestyle etc. They've all needed to bring over house-sale proceeds, savings, UK pensions, share-portfolios etc - something we can help with too. Here's a blog we created specifically with this in mind: https://www.moneycorp.com/en-au/news-hub/retiring-to-australia/
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