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Found 100 results

  1. Susan from Moneycorp

    That was the week that was.....(4)

    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/
  2. Susan from Moneycorp

    That was the week that was.....(3)

    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/
  3. 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.
  4. Susan from Moneycorp

    A quick guide to sending money overseas.

    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.
  5. 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/
  6. 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/
  7. In the week when a humble, defiant, heroic Centenarian became our new National Treasure, promoted to the rank of Colonel with a Spitfire flyover and the Prime Minister named his new-born son after the Nurses who saved his life, you'd be forgiven for thinking we couldn't find too much more to top that! You're wrong... https://www.moneycorp.com/en-gb/news-hub/weekly-brief-01-may-2020/ As always, please feel free to contact me for a chat!
  8. Susan from Moneycorp

    That was the week that was.....

    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
  9. Susan from Moneycorp

    That was the week that was.....

    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
  10. Susan from Moneycorp

    Weekly currency market update:

    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.
  11. Susan from Moneycorp

    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
  12. Susan from Moneycorp

    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.
  13. Susan from Moneycorp

    £/AU$ markets update from Moneycorp ~

    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).
  14. 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/
  15. Susan from Moneycorp

    Extended Working Holiday visas - Fire relief 2020

    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/
  16. https://www.moneycorp.com/en-au/news-hub/what-has-been-the-impact-of-the-coronavirus-on-the-australian-dollar/
  17. Susan from Moneycorp

    It's Valentine's Day!

    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/
  18. 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
  19. 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/
  20. Sheena from Moneycorp

    AUD Update

    It's been a slow week for AUD as the market settled down for the festive period. Uncertainty continues to be the main theme for the currency as we await the RBA's decision on interest rate cuts, with many analysts expecting the first cut to be made by the central bank as early as mid-2020. This outcome would lead to AUD losing strength in the global market as the interest rate cuts aim to increase economic growth. GBP/AUD is trading at 1.8742 at the time of writing. Happy New Year to all!
  21. Sheena from Moneycorp

    GBP/AUD update

    GBP / AUD slips to 1.8663 on the back of a late December rise for Australian shares, with the futures market set to open up 10-15 points. Last Monday's high of 1.9513 has also been influenced by a hardening Brexit tone with Boris Johnson setting a deadline for next December. UK monetary policy will be key in the coming weeks, with many experts predicting a refined policy in 2020.
  22. Sheena from Moneycorp

    GBP and AUD Update

    The main events impacting the Australian Dollar in the week ahead are likely to be global and geopolitical in nature, with the only local data being a speech from Reserve Bank of Australia (RBA) Governor Philip Lowe. The Iranian special forces boarded and held a passing UK tanker in the Strait over the weekend in retaliation for the UK boarding and stopping an Iranian tanker in the strait of Gibraltar. Whilst further saber-rattling could drive up oil prices, it's not so integrally connected with Australia to spark a rout in the Aussie Dollar, although higher oil prices could become another headwind for the global economy and that could impact the Aussie over time if it came to pass. The major driver of the Pound this week is likely to be the announcement of the winner of the Conservative Party leadership election on July 22, but with little difference remaining between the two candidates' stated Brexit policies, the result may not cause as much volatility as previously expected. Jeremy Hunt is seen as more ‘moderate’ and less likely to take the UK out of the EU without a deal, so his election might provide some relief for Sterling. The opposite is true of Boris Johnson, who is the bookmakers' favourite to win, although such an outcome is likely in the price of the Pound by now.
  23. Sheena from Moneycorp

    GBP & AUD

    The Pound Sterling Australian Dollar (GBP/AUD) exchange rate remained muted and the pairing is currently trading at an inter-bank rate The Pound (GBP) is rangebound against the Australian Dollar and the majority of its other peers this morning, following the release of the UK’s latest housing data. Unsurprisingly, Brexit uncertainty continued to play a role in the dip, with both buyers and sellers seeking greater clarity before making any commitments. Looking ahead to next week’s session, we expect to see the Pound Australian Dollar (GBP/AUD) exchange rate come under pressure following the release of the UK’s monthly GDP figures.
  24. The pound to Australian dollar exchange rate has been testing some of the best levels since before the EU vote June 2016. Brexit is however far from settled and we could easily see some big changes in the currency markets soon. Positivity from Brexit could easily see the GBP/AUD rate top the 1.90 level, whilst the threat of no-deal Brexit could sink us back below 1.80. This week has seen the pound to Australian dollar exchange rate drop back slightly from the higher 1.80’s and the 1.8830 reached on the 14th March, as Theresa May’s position remains very much under threat. There is currently uncertainty over whether or not she is likely to have her job at the end of this week! The outlook for GBP/AUD rates is very mixed as we approach the finality on Brexit. Much will hinge on what lies head for the rest of this week. Theresa May is supposed to be having another ‘meaningful’ vote although these appear to be quickly becoming meaningless in my opinion. Last night parliament voted to take control of the some of the next stages which could open us up to a second Referendum or General Election. Mrs May is still determined to have her vote but it is looking increasingly like she will struggle and in any event it will be voted down. Clients expecting some certainty this week on Brexit will now find the dates of the 12th April and the 22nd May more interesting. These are the dates given by the EU as an extension. The latter date being conditional on Mrs May’s Brexit deal being passed by the Government, which is so far not looking likely. Those buying Australian dollars might wish to use this uncertain time to be making key preparations around what is likely to be a very turbulent period for GBP/AUD rates.
  25. Anthony from Moneycorp

    AUD and GBP Update

    Pound Sterling Australian Dollar exchange rate fell to a fresh low for the week thus far in early Tuesday trading as rebounding risk sentiment lifted the Aussie and Brexit-related uncertainty kept a lid on GBP upside. Brexit retains its influence as a key factor with developments therein expected to continue to drive price action for the GBP. Following Monday's parliamentary session, focus now turns to Wednesday's indicative votes which will give MPs the opportunity to present, and vote on, alternative Brexit plans. Aside from a panel discussion including RBA assistant governor, Christopher Kent, the schedule is clear for the Aussie with the antipodean currency expected to be at the mercy of risk-appetite, which for now at least remains positive.
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