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Found 73 results

  1. Anthony from Moneycorp

    GBP/AUD Sheds Last Week's Gains

    Pound to Australian Dollar Exchange Rate Sheds Last Week’s Impressive Gains Fresh frustration from the UK and EU over a Brexit impasse, with just over one week until Brexit, led to a deluge of unexpected developments yesterday that sent Brexit confidence and the Pound to Australian Dollar (GBP/AUD) exchange rate plummeting. Last week saw GBP/AUD surge from 1.8467 to 1.8763, as investors bet against a no-deal Brexit. However, since yesterday’s ultimatums from the EU and from the UK government, no-deal Brexit fears returned once again and GBP/AUD essentially shed those gains. The Australian Dollar (AUD) was more easily able to capitalise on the Pound’s (GBP) weakness this morning, due to dovishness from the Federal Reserve making investors more willing to take risks.
  2. Over the last 4 weeks GBP/AUD exchange rates have increased by 6 cents making a AUD $300,000 purchase £5,340 cheaper. The slowdown in Australia is putting a major strain on Australian dollar exchange rates. The housing market is under severe pressure due to the tightening of lending standards throughout 2018. China is slowing due to the ongoing trade war which means less commodities are leaving Australian shores and the Reserve Bank of Australia have hinted at cutting interest rates in a bid to stimulate economic growth. All in all, it’s hard to see how the tides will change for the Australian economy unless major changes are made to monetary policy and the US and China secure a trade deal that works for both parties. One positive is that unemployment numbers have remained stable over the last couple of months. This week Australia will release their latest unemployment numbers and 5% is expected. If the number is released at 5%, I expect the Australian dollar could benefit on Thursday morning. However earlier in the week, the RBA minutes and House Price index numbers are released on Tuesday morning. Both releases I expect could disappoint, therefore waiting till Friday to sell Australian dollars seems a risky strategy.
  3. The two key releases for the Australian Dollar are the minutes of the last Reserve Bank of Australia (RBA) meeting and employment data. Analysts are currently split over whether the RBA will cut interest rates or not so the RBA minutes will be a closely watched deciding factor in the debate with implications for the Aussie. If the members of the RBA policy committee appear to endorse a possible rate cut it would weigh on the Australian Dollar. Lower interest rates weigh on currencies as they make the country less attractive as a destination for foreign capital inflows. The other main release is employment data. This has traditionally been quite strong in Australia and one of the bright spots of the economy. The risk lies with it weakening and surprising the market negatively. This would weigh on the Aussie. Current Status While the immediate outlook for GBP/AUD has softened, Sterling is nevertheless still looking to notch up a weekly gain on its antipodean counterpart. Brexit aside, a key driver of GBP/AUD has been a softening in expectations for the outlook of the Australian economy. The question being asked by foreign exchange markets is whether or not the slowdown in Australian economic momentum is great enough to warrant interest rate cuts at the Reserve Bank of Australia (RBA).
  4. Further volatility looks likely for the GBP/AUD exchange rate in the wake of Parliament’s next round of votes, with markets still weighing up the likely outcome of the Brexit process. If an amendment paving the way for a second referendum gains sufficient support this could offer the Pound a fresh boost. However, the prospect of an extended period of Brexit-based uncertainty and political anxiety may weigh on GBP exchange rates in the wake of the results. Even if MPs vote in favour of extending the deadline unless there are signs of progress towards a workable deal the upside potential of the Pound is likely to prove limited.
  5. Anthony from Moneycorp

    On the road to recovery?

    The Australian Dollar weakened on Wednesday, helping the Pound-to-Australian-Dollar rate to recover onto a firmer footing, although analysts say the Brexit saga playing out in London is a double edged sword for the Antipodean and British currencies. A messy turn of events in London over the coming days would send Pound Sterling reeling once again but it could also have adverse implications for the Aussie Dollar in its own right, given the likely impact on the U.S. Dollar and the Antipodean unit's sensitivity to changes in risk appetite. "AUD/USD has been largely unaffected by Brexit developments. However, if the UK Parliament vote for a hard Brexit tomorrow, AUD/USD could fall as the USD gets bid in the global foreign exchange market, and if/as global equities decline," says Richard Grace, head of FX strategy at Commonwealth Bank of Australia.
  6. Anthony from Moneycorp

    GBP and USD update

    The Australian Dollar weakened on Wednesday, helping the Pound-to-Australian-Dollar rate to recover onto a firmer footing, although analysts say the Brexit saga playing out in London is a double edged sword for the Antipodean and British currencies. A messy turn of events in London over the coming days would send Pound Sterling reeling once again but it could also have adverse implications for the Aussie Dollar in its own right, given the likely impact on the U.S. Dollar and the Antipodean unit's sensitivity to changes in risk appetite. "AUD/USD has been largely unaffected by Brexit developments. However, if the UK Parliament vote for a hard Brexit tomorrow, AUD/USD could fall as the USD gets bid in the global foreign exchange market, and if/as global equities decline," says Richard Grace, head of FX strategy at Commonwealth Bank of Australia.
  7. Anthony from Moneycorp

    Brexit Uncertainty for GBP and AUD

    Over the last 12 months, the property market down under has been causing major problems for the Australian dollar. Lending standards alongside the global slowdown has caused property prices to take a tumble in the major cities. If the home loan numbers fail to hit 1%, the Australian dollar could have a tough week as it increased the chances of the Reserve Bank of Australia (RBA) cutting interest rates this year. However Brexit negotiations are likely to be the most important driver for GBPAUD exchange rates. If Theresa May has managed to sway MPs to vote in favour of her Brexit deal I expect the pound to make further inroads against the Australian dollar. However, if MPs decide to extend Article50 or vote to crash out of the EU this could have a negative impact on the pound and rates could fall to levels we become accustom to last year.
  8. Anthony from Moneycorp

    AUD Declining due to economy

    The Pound-to-Australian Dollar exchange rate is trading at 1.8456 at the start of the new week after declining a percent in the previous week, cutting back the pair's 2019 advance to 2%. The losses suffered by the pair over recent sessions appear to have come largely from the Sterling side of the equation as opposed to independent Australian Dollar strength, with markets paring back exposure to the UK currency ahead of a key week of Brexit votes in the House of Commons. major weakness in the Australian economy is the state of the housing market which has seen steep discounts recently. This has pressured the Australian Dollar lower as it could prompt the Reserve Bank of Australia (RBA) into cutting interest rates: lower interest rates, or expectations thereof, tend to weigh on a currency.
  9. Anthony from Moneycorp

    GBP and AUD Update

    The Australian dollar is also likely to be influenced by the outcome of the US-China trade war negotiations. The ecostats presented a mixed picture. Construction work done in the fourth quarter of 2018 was down by a seasonally-adjusted 3.1% from Q3 January’s building permits were up by 2.5% on the month and 28.6% on the year. The Reserve Bank of Australia kept its benchmark rate steady at 1.5% In the accompanying statement the RBA Governor noted a strong labour market, slower growth, lower house prices and low and stable inflation, which is likely to pick up over the next couple of years.
  10. Anthony from Moneycorp

    Update on GBP and AUD

    GBP/AUD rose to a fresh 33-month high on weaker than expected Australian retail sale growth Monthly results of Aussie retail sales and trade balance flashed mixed signals for the AUD traders on Thursday. With little economic data on hand to follow, investors may now observe developments concerning Brexit and the US-China trade ahead of Friday’s trade balance figures from China. While the British Pound (GBP) is rising against the AUD, it has its own problems in the form of Brexit. Latest developments say that the EU-UK leaders’ meeting in Brussels summed up without any progress as both the sides continue to jostle around Irish backstop.
  11. Benefits of using a foreign exchange specialist By John Kinghorn from moneycorp If you’re sending money overseas, you may think using your local bank is the most convenient and efficient option, but working with a currency exchange specialist can give you access to great value rates and services that your bank may not be willing to provide. In addition, a specialist can offer expert guidance to help you navigate the fluctuating currency market. As an ex-pat, you could have a number of reasons why you need to convert currency, and accessing great rates and avoiding high fees could have a significant impact on the money you receive for any of the following: · Buying a home in Australia; · Converting UK rental income into Australian dollars; · Repatriating Australian dollars back to the UK; · Receiving your pension payments; · Transferring money to friends and family overseas. As well as great rates and lower fees than most high street banks, a specialist can also offer a range of product solutions to help you manage all your foreign exchange requirements · Spot contracts for urgent payments which allow for same-day exchange and transfer; · Stop-loss orders to prevent against precipitous drops in the exchange rate; · Rate targeting and tracking to help you make the most of your money ; · Regular payment plans to fix rates and collect funds from a UK account by direct debit for overseas payments; · Easy-access online account management, supported by an expert team available on the phone. Get started with moneycorp moneycorp offers all our clients a professional service that helps you transfer money across borders and let you get on with enjoying your new life in Australia. It’s free to register for a moneycorp account and you can do this online by clicking here. You can also read more information here on the Poms in Oz currency page – https://www.moneycorp.com/uk/campaigns/partners/pio/ 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).
  12. John from Moneycorp

    Currency Transfers with Moneycorp

    A Guide to Sending Money Overseas Hundreds of 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. The following text outlines 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 a form giving you instructions on how to transfer your funds to Moneycorp. The Contract Summary will also include a Transfer Instruction form, on which you will need to put details of the bank account(s) into which you would like your currency to be paid following your 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, please remember to quote PomsInOz.
  13. Hi all, my query is about transferring money from Dubai to my NAB account. I hear that banks in Oz charge fees for money being transferred from overseas. If that is the case, is it better to use some online exchange / transfer website to transfer money without charges. Any information or tips in regards to transferring money from overseas into an Oz bank Account are welcome! Sent using Poms in Oz mobile app
  14. Big girl

    Transfer of funds online

    Please can somebody help us....we have arrived set up a Moneycorp account, we have online banking with Natwest, all going well until we changed mobile phones with AU SIM cards now we are unable to confirm transactions as we have changed our numbers and cannot update account details online without a card reader, we were not aware of this until we left UK! Called the bank who suggested we go into branch...they do not have any in AU so they then suggested we borrowed an online card reader from a friend or family member....argh!
  15. Interested in potentially getting a better deal than your bank when sending money overseas? If so, you should consider using a foreign exchange specialist company when sending money to or from Australia. A specialist company, like Moneycorp, can offer you great exchange rates and free expert guidance on the Australian dollar to save you time and money when transferring money abroad. When using Moneycorp you can expect exchange rates that are typically up to 4% better than you would get from a high street bank - this can make a huge difference to your finances. Special offer - no transfer fees Your bank may charge you anything from £20 to £40 (or currency equivalent) to send your money to or from Australia. Moneycorp don’t charge commission and exclusively for Poms in Oz members all transfer fees are waived – so you can save money on transfer fees alone. How can I register for a free Moneycorp account? Thousands of forum members have saved money by using Moneycorp. It’s simple to register for a free account and the process only takes a few minutes – click here to register online with Moneycorp.
  16. [img2=right]http://www.pomsinoz.com/images/moneycorp468x300.jpg[/img2]John Kinghorn from the foreign exchange expert's moneycorp, is hosting a special UK election live chat session with forum members on Thursday 16th April (7:30pm until 9:30pm, UK time). The UK General Election takes place in May 2015 and with current opinion polls predicting a tight result, uncertainty beckons ahead of and after the election, which could in turn impact the sterling/Australian dollar exchange rate. Therefore, this summer's election result is an important factor to consider if you are transferring money to or from Australia. About John from moneycorp John Kinghorn is Head of UK Private Partnerships at moneycorp. With over 10 years’ experience in the migration industry, John regularly speaks at seminars on the subject and can also help you with other aspects of your move to Australia. When transferring money to or from Australia, moneycorp can typically offer you better exchange rates than your bank – often up to 4% better, saving you money. As an exclusive offer for forum members, all transfer fees are free when sending money overseas. Visit the Poms in Oz currency homepage for more information -http://moneytransfer.pomsinoz.com/ How to participate in the live chat session If you have an account on Pomsinoz, login, then click on the 'chat' menu option at the top of the page. Clicking on chat will launch the chat software. There enter the 'Moneycorp' room. If you don't have an account of Pomsinoz, you can still participate by by following this link - UK election live chat session, then, once the chat software has loaded, tick the 'Guest' option at the top of the chat window, then choose a username and click 'Login' and enter the Moneycorp chat room. NB: If you have a device which doesn't use Flash eg: iPhone or iPad, you can join us in the chat via this link or by downloading the free 123Flashchat app from the Apps Store via this link and entering 921 as the chat ID.
  17. Just set eyes to the most colourful set of currency notes today:biggrin:! OH each had ordered some currency for his trip and they've just arrived--and lo and behold its almost like a rainbow! Anyone else surprised at the variety of colour in Oz notes?
  18. THE Australian dollar has fallen and is trading within a tight range awaiting news on Greece's debt resolution. At 1200 AEDT today, the local currency was trading at 107.84. From 0700 AEDT, the Australian dollar has traded between 107.91 US cents and 108.08 cents. On Tuesday, the Reserve Bank of Australia (RBA) surprised the market by announcing it would keep the official interest rate on hold, despite predictions of a 25-basis-point cut. The RBA's decision prompted the Aussie dollar to rise to 108.12 US cents, its highest point since August. Nomura head of foreign exchange Kurt Magnus said the market was looking to Europe to guide its next movements. "The situation yesterday with the RBA's decision was a shock to the market, and it's seen the Australian dollar stall in a higher range,'' he said. "Today, it's quiet in anticipation of news out of Greece tonight. "Obviously, positive news will see the Australian dollar climb towards those July highs (of 110 US cents) from last year. "Negative news will see the Aussie test the bottom end of the range very rapidly.'' Overnight, a planned austerity meeting in Greece did not go ahead, increasing doubts that the process to resolve the country's debt problem was stalling yet again. Mr Magnus said if the Greek bailout didn't succeed, it would have a notable impact on the Australian dollar's relationship to both the Euro and the US dollar. In the latter case, Mr Magnus said, the Aussie could fall back below its current support of 107.30 US cents. Meanwhile, Australian bond future prices were lower at noon. At 1200 AEDT on Wednesday, the March 10-year bond futures contract was trading at 96.000 (implying a yield of 4.000 per cent), down from 96.015 (3.985 per cent) on Tuesday. The March three-year bond futures contract was at 96.510 (3.490 per cent), down from 96.530 (3.470 per cent).
  19. A Guide to Sending Money Overseas Hundreds of 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. The following text outlines 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 a form giving you instructions on how to transfer your funds to Moneycorp. The Contract Summary will also include a Transfer Instruction form, on which you will need to put details of the bank account(s) into which you would like your currency to be paid following your 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, please remember to quote PomsInOz.
  20. Here is a thread for all the currency experts on PIO. Have a think about your pick for the exchange rate for 1 GBP to the AUD by end of 2011. Will it go up or down ? The closest may even get a prize. The BBC site will be used as the official reference. http://www.bbc.co.uk/news/business/market_data/currency/11/15/three_month.stm
  21. 'Our Currency lads and lasses are a fine interesting race, and do honour to the country whence they originated. The name is a sufficient passport to esteem with all the well-informed and right-feeling portion of our population; but it is most laughable to see the capers some of our drunken old Sterling madonnas will occasionally cut over their Currency adversaries in a quarrel. It is then, 'You saucy baggage, how dare you set up your Currency crest at me? I am Sterling, and that I'll let you know!' In 19th century Australia the distinction between native-born Australians and migrants was played out lexically as a battle between currency and sterling. In the early days of the colony there were coins and notes of many kinds, from various countries. These were called currency, whereas English gold pieces were called sterling - sterling being the genuine thing in sharp contradistinction to the mixty-maxty mongrel currency. By the 1820s these two terms had widened their application and were being used to describe two groups of people in the colony. Currency applied to those native to Australia, that is, those born here. Sterling referred to non-convict, British-born residents. These native-born currency lads and lasses began to speak a new language. Outsiders comment on their accent and the 'colonial phraseology'. Some of this colonial language was borrowed from Aboriginal languages, and some of it was generated internally. The irony is that many of the expressions which are contemptuously categorised as 'colonial' are in fact English. But they are not sterling English, not the language of the now respectable London or polite society. These Australian words are a mongrel breed, some of them are underworld terms, and many are words from British dialects, which remained dialectal in Britain, but which became mainstream in Australian English. There developed here a language that was in subversive opposition to the now-emerging Received British English. Shifts in the meaning of standard English words - 'mate' is a good example - reflected Australian social ideals which differed from the British
  22. Hi Guys, I am in the process of transferring my money to my Australian account. I have been looking at the various options such as Moneycorp that is advertised on this forum but the one that is the most interesting (because it seems to offer the best rates) is http://www.currencyfair.com. I just wanted to know if anyone else here had used it and how they found it? P.S. I wish I transferred my money a few months ago! The pound's value is shocking!
  23. Moving to Australia is a big decision. And no doubt you will want to start your new life with as much money as possible. One of the main factors affecting the amount of money you actually start out with is how you choose to exchange your funds into Aussie dollars. That’s where Moneycorp can help. Currency markets are constantly fluctuating, but their experts can monitor them for you, helping you trade at the right time, in the right way – when rates are in your favour. As a result, you’ll get more dollars for your pounds. Timing is key It’s important to plan ahead to give yourself an opportunity to take advantage of any favourable exchange rate movements. Leaving your currency transfers to the last minute can cost you more than you might think. If you were transferring £50,000 into Australian dollars on the dates below, you would have received the following: 17 March 2011 A$82,235 12 May 2011 A$77,185 That’s a difference of A$5,050 (or £3,310) in just over two months! How Moneycorp can help As a foreign exchange and international money transfer specialist, getting the best rates of exchange for their customers is what Moneycorp is all about. Plus, for Poms in Oz members, all transfer fees will be waived. Their expert dealers provide information and guidance on the currency markets, helping you decide on the best time to buy your Australian dollars. Regardless of the size of the transfer you need to make, Moneycorp will keep the process quick, cost-effective and hassle-free. Moneycorp has direct access to special interbank rates, which means they can offer you highly competitive deals – often beating highstreet bank rates by more than 3%. Register with Moneycorp You can open a free, no-obligation Account with Moneycorp by clicking here. Alternatively, you can call them on +44 (0)20 7589 3000. Please remember to quote Poms in Oz when you get in touch. In safe hands Moneycorp has been trading foreign currencies for over 30 years and has an unrivalled reputation within the industry. They utilise the most secure payment systems and are authorised and regulated by the Financial Services Authority (FSA) for the conduct of designated investment business and the provision of payment services. Click here for more information.
  24. Guest

    Currency exchange

    Hi. The rate of exchange is disastrous at the moment. Does anyone know the implications of transfering GBP from UK bank to OZ bank upon departure for permanent migration but not converting GBP into A$ for 1 year? Has anyone taken this decision? Thanks. Nick
  25. Hi folks, We are off on our hols soon - first time outside of Oz since we got here. Can anyone recommend a good bank/foreign currency place to get our holiday money with low fees and good rates? Oz is not like the Uk chargingt 2 pound 50 to change money. When I got to Oz i got stung by ANZ charging me $8 to change 20 quid - robbing buggers!
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