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Found 40 results

  1. With the U.S. Election, plus the Tuesday statement on Australian interest rates due from the Reserve Bank and ongoing Brexit discussion announcements from the UK, the market is expected to be understandably volatile this week. We suggest that anyone looking to reach a specific rate leave an order with your FX specialist so that, if there are sudden moves, you don't miss the opportunity to buy or sell your currency. GBP/AUD currently trading at 1.8420 - market currently seeing the emphasis to the upside with the next resistance at 1.8500 AUD/USD currently trading at 0.7008 - market seeing the trend to the downside with the next support at 0.6970, then 0.6900 Our team will be on-hand 24/7 for our Poms In Oz members - in Australian time on our Sydney office number from 8am: 0414 838586 and, after 7.00pm (AEDT) on 02 8228 1490.
  2. 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/
  3. 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/
  4. Susan from Moneycorp

    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. 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/
  6. Sheena from Moneycorp

    GBP and AUD

    The Australian Dollar has faded further from Fridays 5-month highs as speculators took profits on recent gains. Added to this, the bushfires which have wreaked havoc across the whole of Australia continues to burn which is causing untold strain on both the population and wildlife as well as the economy. Recent news broke Friday that the US had confirmed airstrikes on an Iranian military official, this caused the AUD to drop as the safe-haven Yen also fell. The bushfires in Australia continue to rage on, destroying everything it its path. Australian residents, and wildlife have suffered to the fires. The emergency response from the Australian services has been widespread but the effect of the support needed to attempt to manage the fires is costly, and thus the Aussie economy has taken a hit. Added to this, the tourism sector for Australia has taken a hit amongst the news of the fires as many residents are evacuated from their houses. For the GBP, the news is surrounding the ongoing Brexit talks and whether the UK and EU can come to an agreement. Michael Brown, currency expert at Caxton FX mentioned that the UK has lost ground as the new year got underway. With the UK already being hit with poor manufacturing PMIs on Thursday, investors will be hoping for positive revelations from the Brexit talks. Any positive news would give the GBP a boost as fears reduce of a no-deal Brexit occurrence.
  7. Sheena from Moneycorp

    US-China trade war casts a shadow

    Hopes of a resolution to the US-China trade war were repeatedly raised and dashed towards the end of the year, and the Aussie similar rose and fell on the news. October saw talk of a resolution and a postponement of tariffs scheduled for the 15th October, while December brought about a softening of the tone of rhetoric from the US. This was good news for the Australian dollar, however those hopes were soon dashed when China declared that it would be reluctant to strike a trade deal with the States as long as US tariffs remained in place. As a result, the Aussie lost all that it gained. The pattern of dashed hopes continued for much of the quarter, with promises of a resolution that never appeared. The challenge for the Australian dollar is that, along with many other commodity-based currencies, the ongoing trade war between the US and China is having an impact on currency values. The indirect impact is also felt in the performance of Australia’s economy as a major trade route. Investors will be looking for a more definite resolution in 2020 to the ongoing uncertainty.
  8. 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!
  9. 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.
  10. Sheena from Moneycorp

    GBP and AUD update

    Pound to Australian dollar levels have been rising following the outcome from the UK’s General Election, which saw the Conservative Party win a resounding majority under Boris Johnson. It is currently the best time to buy Australian dollars with pounds since before the Referendum June 2016. With the recent advance for sterling, it is currently the best time in 3 ½ years to purchase Australian dollars with pounds. How likely is this to continue? Well, the outcome from the election in the UK is still being digested and the market will now look to the next events with parliament set to vote on the Brexit Withdrawal Bill this week. It might be that much of the good news will have been priced into current levels for the pound, which could limit the upside for the passage of the Withdrawal Bill. Whilst the move might end up being largely symbolic, it might ultimately end up being supportive for sterling, in removing the uncertainty regarding the outlook on Brexit.
  11. Sheena from Moneycorp

    GBP and AUD Update

    The pound Australian Dollar (GBP/AUD) exchange rates rose today, due to opinion polls suggestion of a Conservative victory on the 12th December general election. The polls showed that the Tories were ahead of the Labour party in a 14 percentage point lead, ensuring a high probability that the Conservatives will win a majority this week. With markets preferring a Conservative victory, due to their promises to resolve Brexit uncertainty and engender enterprise - friendly policies, this has provided some uplift for the Pound today. However markets remain cautious over the remaining possibility of a hung parliament this week, with the opinion polls resulted being treated with a degree of scepticism. The Australian Dollar (AUD) struggled today after Chinese exports fell for their fourth consecutive month as US-China trade uncertainties weigh on China’s economy. China is clearly not immune to either the U.S. trade tariffs, or the lingering slowdown in the broader global economy. Tomorrow will also see the release of the industrial and manufacturing production figure for October, with any indications of improvement likely buoying market confidence in the British economy and boosting the Pound. UK political developments will remain in focus ahead of Thursday’s general election this week, with any signs of the Labour Party rising likely weakening the Pound on heightened political volatility.
  12. Sheena from Moneycorp

    GBP and AUD Update

    The Pound-to-Australian Dollar exchange rate has on Thursday, December 05. hit a fresh 3-year high at 1.9214, amidst an ongoing rally in Sterling and softness in the Aussie Dollar. And, one investment bank we follow says AUD will likely continue to struggle through the course of 2020. GBP/AUD has been moving higher since late-July in a steady uptrend, built on expectations that Brexit is heading towards a conclusion. The latest chapter in this story is an expectation that the Conservatives of Boris Johnson will win the December 12. election and swiftly deliver Brexit in early 2020. However, the gains in GBP/AUD coincide with a softening in the Australian Dollar, which took a hit this week after Australia reported weaker than expected quarterly growth for the third quarter of 2019 * Time to move your money* - get industry leading exchange rates with a quick, easy and efficient service by using moneycorp foreign exchange!
  13. Sheena from Moneycorp

    AUD and GBP

    The Pound jumped by a percent against the Australian Dollar Tuesday after the Reserve Bank of Australia (RBA) cut its interest rate to a new record low and hinted strongly of more cuts to come, which some analysts say now risks pushing the antipodean currency to its lowest level for more than a decade. Australia's central bank cut the cash rate to an all-time low of 0.75% Tuesday, in line with the market consensus, citing a continued weakening of the global economy and concerns about the outlook for jobs down under as risks to its inflation target. The RBA said the economy needs a lower rate of unemployment if it is to see the wage pressures that would enable the bank to meet its inflation target, but warned that jobs growth is likely to slow even further in Australia up ahead, even though unemployment has recently risen Changes in rates are normally only made in response to movements in inflation, which is sensitive to GDP growth, but impact currencies because capital flows tend to move in the direction of the most advantageous or improving returns. Those flows tend to move in the direction of the most advantageous or improving returns, with a threat of lower rates normally seeing investors driven out of and deterred away from a currency.
  14. Sheena from Moneycorp

    GBP and AUD Update

    Dragging the Aussie lower was the latest Reserve Bank of Australia policy meeting minutes with guidance pointing to a clear easing bias moving forward. "They no longer talk about an accumulation of evidence in order to ease again, and highlight risks to the global economy,” wrote National Australia Bank senior FX strategist Rodrigo Catril, adding "It certainly sounds a lot more dovish than before.” For Sterling, Brexit remains the key to the outlook ahead of Wednesday's CPI and Thursday's BoE with focus falling on the Supreme Court on Tuesday as they open a case into PM Johnson's prorogation of Parliament. UK and EU officials are also set to resume Brexit talks after agreeing to host daily negotiations in a bid to thrash out a last minute deal. Risk-off was the dominant theme for currency markets on Monday while the GBP was facing the double-whammy of resurgent no-deal Brexit fears as Tory Brexiteers continue to insist the UK will leave the common currency bloc on October 31st. While there was some positivity out of a meeting between PM Johnson and the EU's Juncker in which the leaders agreed to daily Brexit talks moving forward, time's quickly running out to secure an outcome other than no-deal. "The fact remains there is still a decent chance of Britain not able to secure a deal and that is prompting investors to take profits after last week’s rally,” wrote currency strategist Thu Lan Nguyen of Commerzbank. For the Aussie, RBA minutes are due overnight which should set the tone moving forward while currency markets as a whole will likely take their cue from geopolitical risks - with a focus on the US response to the attacks on Saudi oil refineries - as well as central bank policy with the Fed and Bank of England releases likely to impact the cross.
  15. Sheena from Moneycorp

    GBP and AUD Update

    GBP/AUD UPDATE: The Pound to Australian Dollar exchange rate remained on the defensive on Tuesday afternoon, with the pairing trading at around AU$1.7867 in response to heightened political uncertainty in the UK.Markets are currently bracing for the unknown as MPs attempt to pass a bill compelling the government to seek an extension to Brexit, whilst Boris Johnson is preparing to call for a snap election if he is defeated. Helping the ‘Aussie’ to press its advantage was the Reserve Bank of Australia’s latest rate decision, where an upbeat economic outlook helped to boost AUD exchange rates. The Australian Dollar’s period of weakness in August has not been enough to keep the British Pound to Australian Dollar (GBP/AUD) exchange rate climbing, and after markets opened today the pair tumbled once again. The Pound’s volatility is worsening on a mixture of UK economic fears and expectations for Brexit chaos, but the Australian Dollar has been unable to capitalise on Sterling weakness amid global trade fears and anticipation for upcoming Reserve Bank of Australia (RBA) news.
  16. Sheena from Moneycorp

    GBP and AUD Update

    The pound to Australian dollar exchange rate is holding on to its recent gains with rates for GBP Vs AUD sitting at 1.8140. The markets will now focus on all the latest Brexit developments this week with political fireworks expected as we approach the 31st October Brexit deadline. High volatility is to be expected for GBP to AUD exchange rates as parliament will return 3rd September after the summer recess. UK Prime Minister Boris Johnson made clear to MP’s yesterday that there will be no way of stopping Brexit and that Britain will leave the EU at the end of October. There has been much talk of a vote of no confidence which could be issued by leader of the opposition Jeremy Corbyn although whether he could succeed in putting in place a caretaker Prime Minister remains to be seen. There is also the very real prospect of a general election something that could see additional volatility for GBP/AUD. Those looking to buy or sell Australian dollars are likely to see heightened volatility in these coming weeks with a big swing in either direction depending on whether or not a Brexit deal is reached. Those with a sizeable amount to transfer would be wise to consider planning around these developments as the 31st October deadline counts down. There has been much talk of a vote of no confidence which could be issued by leader of the opposition Jeremy Corbyn although whether he could succeed in putting in place a caretaker Prime Minister remains to be seen. There is also the very real prospect of a general election something that could see additional volatility for GBP/AUD. Those looking to buy or sell Australian dollars are likely to see heightened volatility in these coming weeks with a big swing in either direction depending on whether or not a Brexit deal is reached. Those with a sizeable amount to transfer would be wise to consider planning around these developments as the 31st October deadline counts down.
  17. Sheena from Moneycorp

    GBP and AUD Update

    The GBP/ AUD exchange rate is trading at around 1.7727 on Monday, 0.90%b lover than at the same point last week. The pair has started to sell off steeply after rebounding to a multi - week high at 1.82. Although the overarching downtrend is still intact a break back below the trendline is required to confirm the downtrend. We retain a neutral outlook over the next 5 days, with a break higher or lower above various levels required to confirm the next direction of the trend. The most important data releases for the Aussie in the week ahead are employment data on Thursday and Chinese data on Wednesday. Australian employment data is forecast to show a 14k rise in July whilst unemployment is expected to remain at 5.8% when released at 2.30 BST on Thursday. This suggests a slightly positive result. The data could impact interest rate expectations and therefore the Aussie. The Reserve Bank of Australia (RBA) has been aggressively cutting rates of late and this has been pressuring the Aussie lower since lower interest rates tend to weigh on currencies. A worse-than-expected result could increase speculation of a further interest rate cuts from the RBA in September - current market expectations are around 40% of a cut then.
  18. Sheena from Moneycorp

    GBP and AUD Update

    The pound to Australian dollar exchange rate has declined since the start of May with sterling losing value against all major currencies. Last week the Bank of England confirmed that British companies are close to a near record in regards to sterling deposits switched into Foreign Currency for the month of June. The Bank of England’s commentary and the data that supports it shows that businesses within the UK that have exposure to foreign currency are buying upfront due to threat of a no deal Brexit and could be the reason why the pound is continuing to lose value. The ongoing Brexit saga is going to be the key driver for the pound against the Australian dollar in the weeks and months to come. Since the start of May mid market exchange rates have continued to fall. If it’s the case Pro EU MP’s fail to stop Boris from crashing out of the EU, then the pound could see further decline. This was supported by the Bank of England last week, as Governor of the Bank of England Mark Carney warned that the pound could crash on the back of a no deal, and consequently also cut growth forecasts. If you are buying Australian dollars in the months to come and are concerned about how Brexit could impact you, feel free to get in touch with me and I will be able to provide you with guidance on the markets.
  19. 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.
  20. 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.
  21. Anthony from Moneycorp

    Update on AUD and GBP

    The Australian Dollar (AUD) traded at a one - week low against the Pound on Thursday, after the 'Aussie' was driven lower overnight following the Federal Reserve rate decision. While no policy changes were made by the Fed this month, Fed Chair Jerome Powell reaffirmed the bank’s commitment to its ‘patient’ approach to monetary policy this year. This prompted a sharp drop in risk-sentiment in the mid-week as it gave no indication that the Fed could be planning to cut interest rates in the immediate future, despite recent speculation. Meanwhile the Pound (GBP) is clinging to its recent gains against the Australian (AUD) this morning following the publication of the UK’s construction PMI. While GBP investors welcomed the return to growth, with the sector only barely avoiding contraction and signs that activity could contract again in the coming months the PMI figures were ultimately unable to lend much support to the Pound.
  22. Anthony from Moneycorp

    Update on AUD and GBP

    GBP/AUD UPDATE: The Pound to Australian Dollar extended gains to post a fresh one-night best in overnight trade with Sterling reaching AU$1.86613 following a downbeat Aussie Building Approvals release. According to the Australian Bureau of Statistics, the number of new building approvals issued over the last month declined by 15.5%, the sharpest contraction since February 2018. The Pound-to-Aussie trimmed gains marginally heading into Friday's session amid reports both the UK's main political parties, the Conservatives and Labour, look set to lose a significant number of seats in English local elections - suggestive of malcontent over Brexit choas. The session ahead is relatively sparse with the notable exception of the latest UK Services PMI, forecast to rebound into growth territory following a dip below the neutral 50 level in last month's print. Focus, as-ever, will also be on UK politics with final election results and any ad-hoc Brexit news-flow while for the Aussie, with the RBA set to review policy next week, upside may be capped by expectations of further dovish rhetoric or even a potential cut to key policy rates amid persistently underwhelming data.
  23. Anthony from Moneycorp

    GBP and AUD Update

    The Pound-to-Australian Dollar exchange rate starts the new week trading at 1.8348 having climbed over a percent during the week before. Gains came mainly as a result of a weakening of the Australian unit after lower-than-expected inflation data suggested the Reserve Bank of Australia (RBA) might actually lower interest rates over coming months. Lower interest rates tend to weigh on the local currency as they detract from foreign capital inflows which favour jurisdictions with higher interest rates where their money will earn a higher interest return. The main release for the Australian Dollar is probably Chinese data in the shape of manufacturing PMI out Tuesday at 2:00 B.S.T. The PMI data for April will show whether Australia's largest trading partner has indeed turned a corner from its recent soft patch. PMIs for March suggested this is indeed the case, the data is considered to be on of the drivers of the recent pick-up in global investor sentiment over recent weeks: conditions that would typically favour the Aussie currency.
  24. Anthony from Moneycorp

    GBP and AUD Update

    The Australian Dollar (AUD) was turbo - charged overnight on Tuesday with the currency racing higher against the Pound (GBP) and the majority of its other peers following the release of some stronger - than - expected economic data from China. According to China’s National Bureau of Statistic, Chinese GDP held at 6.4% through the first quarter of 2019. While this left growth at a decade low it beat expectations that growth would have slowed to 6.3% prompting suggestions that China’s recent slowdown may have bottomed out. This was also accompanied by some impressive Chinese industrial statistics, with year-on-year growth in industrial production reported to have rocketed up from 5.3% to 8.5%, blowing past forecasts of a modest rise to 5.9%. The accompanying industrial data may have been even more supportive of the rise in risk sentiment according to some analysts. Looking ahead, the Pound Australian Dollar (GBP/AUD) exchange rate may come under additional pressure on Thursday as the UK publishes its latest retail sales figures. Sterling looks likely to stumble following the data as economists forecast that sales growth will have slumped in March, falling from 0.4% to -0.3% as consumers limited their purchases amid heighted Brexit uncertainty. In the meantime the release of Australia’s employment figures overnight could elicit some weakness in the Australian Dollar.
  25. Anthony from Moneycorp

    GBP and AUD Update

    The pound to Australian dollar exchange rate has made some small gains to start this week after a poorer performance from the GBP to AUD pair last week. The general move lower in the last couple of weeks has been influenced by a weaker pound due to continued Brexit uncertainty but also a stronger Australian dollar as commodity prices have spiked higher. In the UK, Brexit remains the single biggest driver for sterling exchange rates although news on this front it likely to be less in these coming weeks with Parliament taking the Easter recess. The UK is now preparing to contest the European elections following the agreed extension for Britain’s withdrawal from the EU until 31st October 2019. The markets are now preparing for the implications from this extension in that the Conservative party could lose a great deal of seats in the EU elections. With the newly formed Brexit party being campaigned by Nigel Farage there could be something of a revolution in British politics. The local elections could also see a major shift in voting patterns, with this carrying much risk for the pound. Any big changes could result in major volatility for the GBP vs AUD pair.