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Found 29 results

  1. 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
  2. Guest

    GBP/AUD - The Week Ahead

    Currency Online – Moving Money Made Easy Hi there, The UK pound had a relatively unspectacular week against the Australian dollar. The pound did manage to lose a bit of ground against the Aussie early in the week, as some fairly flat to negative data out of the US had markets questioning the speed of the global recovery and growth sensitive currencies like the Aussie dollar declined. Appetite for the “safe haven” US dollar weighed on both the GBP and AUD. Retail sales and CPI data out of the UK last week were pretty much as the markets expected and did little to stimulate UK pound demand. As for this week, a heap of data out this week for the markets to get their teeth around, including UK GDP for Q3. This week’s focus will be on data results and this will govern direction for the short term. Good data is good for market sentiment, which in turn is positive for both the Aussie dollar and UK pound against the US dollar. Aussie dollar strengthens (usually!) against the pound when the markets are positive. GBP/AUD High’s & Low’s (Bid) of last week; High: 1.8110 Low: 1.7880 GBP/AUD Expected Range for the Week: High: 1.8250 Low: 1.7725 Click here to view GBP/AUD historical charts Remember – it’s not about guessing as to which way the rate will move, it’s about managing your needs depending on your propensity for risk and your timeframe. Talk to your currency provider today about how to best manage your currency needs. What is a Spot Contract? Click here How can a Forward Contract help you?Click here How can a Market Order help you? Click here Kind regards, Jon Speedy Currency Online – Moving Money Made Easy
  3. Guest

    GBP/AUD - The Week Ahead

    Currency Online – Moving Money Made Easy Hi there, The Pound had a bit of a roller-coaster week. To its credit, the pound did recover after a mid-week dive which saw the GBP/AUD cross dip to as low as 1.78. Both currencies are currently benefiting from a weaker US dollar which continues to get slammed. Positive data showing there are signs of a global recovery has been bad news for the greenback. The ‘safe-haven’ appeal of the US currency is becoming less and less. As for this week – there is a bit of important data due out of the UK this week, including CPI data and Retail Sales. If these figures come out positive - and there is every possibility they will - you could see the UK pound continue to recover. “Hooray” I hear you say! GBP/AUD High’s & Low’s (Bid) of last week; High: 1.8090 Low: 1.7810 GBP/AUD Expected Range for the Week: High: 1.8300 Low: 1.7850 Click here to view GBP/AUD historical charts Remember – it’s not about guessing as to which way the rate will move, it’s about managing your needs depending on your propensity for risk and your timeframe. Talk to your currency provider today about how to best manage your currency needs. What is a Spot Contract? Click here What is a Forward Contract?Click here What is a Market Order? Click here Kind regards, Jon Speedy Currency Online – Moving Money Made Easy
  4. Guest

    GBP/AUD - The Week Ahead

    Currency Online – Moving Money Made Easy Hi there, Although the UK pound appreciated last week against the US dollar, so did the Australian dollar. The GBP/AUD cross therefore had a fairly unspectacular week. Fairly range bound with activity between the two currencies limited to between 1.80 and 1.83. As for this week, there is a fair bit of data out of the UK to give markets a better idea as to how the UK economy is performing. This includes Trade Balance data, the Bank of England Inflation Report and the UK Unemployment Rate. You just have the feeling, one if not more of these figures are going to come out on the shabby side. Confidence survey data and employment figures are due out of Australia as well this week and these could point to further strength in the Aussie economy. Governor Stevens was on the wires last week re-evaluating the inflation forecast upwards for the foreseeable future – this will only provide support for the Aussie dollar. The next few days will give us a better idea how this cocktail comes out. GBP/AUD High’s & Low’s (Bid) of last week; High: 1.8295 Low: 1.8090 GBP/AUD Expected Range for the Week: High: 1.8350 Low: 1.7850 Click here to view GBP/AUD historical charts Talk to your currency provider today to discuss how best to manage your currency needs. Currency Online – Moving Money Made Easy
  5. Currency Online – Moving Money Made Easy Hello all, Another good week for the Pound against the Australian dollar. Appreciating 7 pence last week, the GBP/AUD cross has the possibility of continuing the trend this week. Investors late last Friday got the jitters and dumped the ‘risk sensitive’ currencies in favour of the perceived safe haven US dollar as consumer sentiment was down in the US and another 9 banks were forced to close their doors. Both the Australian dollar and the Pound got sold, but the Aussie dollar was hit hardest, and thus the reason the GBP/AUD has improved. Markets very nervous at the moment and until such time as we see some positive sentiment and with it some stabilisation, the Aussie dollar will continue to feel the pressure. As for this week, the Reserve Bank of Australia announce their official lending rate tomorrow. A rate hike of at least 25 basis points is expected and has been factored into the current exchange rate. Who knows – maybe they’ll use the cover of the Melbourne Cup to spring a 50 basis point rate rise on the market, as they are certainly concerned about inflation…. If the forecasted rate hike does not happen, expect the Australian to lose further ground and the UK pound to appreciate further against it. GBP/AUD High’s & Low’s (Bid) of last week; High: 1.8290 Low: 1.7690 GBP/AUD Expected Range for the Week: High: 1.8450 Low: 1.7950 Click here to view GBP/AUD charts Talk to your currency provider about placing an order in the market to take advantage of positive market movements. Kind regards, Jon Speedy Currency Online – Moving Money Made Easy
  6. Currency Online – Moving Money Made Easy Hi there, Finally some better news for those looking to convert those very stale UK pounds tucked away in the corner of one of those big (but not as big as they used to be) UK banks. Some relatively good economic news out of the UK, including headlines that Lloyds were planning to exit the asset protection scheme. This is seen as a positive step. UK unemployment data came out better than expected and UK house prices are looking like stabilising. All in a week’s work. All positive signs and the UK pound had a good week against the $US, clawing its way back to some sort of respectability, from 1.58 to 1.64. The Australian dollar did not fare so well. Although the Aussie did appreciate against the US dollar, it did lose most of its gains late in the week as the markets decided to get nervous again. As for this week, I’m not really sure. I haven’t got that regular trend comfort blanket to hold onto. The ‘trend’ took a U turn last week, but, you get the feeling this recent blip is just that. While the ‘lucky country’ has in-demand commodities under its dusty soils and while there is telegraphed likelihood of further increases by the RBA to its official lending rate, the Australian dollar looks to remain well in demand. News out of the UK would have to remain consistently on the positive side for this most recent strength to continue, and I wouldn’t like to bet my last pound on that. GBP/AUD High’s & Low’s (Bid) of last week; High: 1.7750 Low: 1.7430 GBP/AUD Expected Range for the Week; High: 1.7950 Low: 1.7420 Click here to view GBP/AUD charts Talk to your currency provider today to best manage your currency needs. Kind regards, Jon Speedy Currency Online – Moving Money Made Easy
  7. Guest

    GBP/AUD - The Week Ahead

    Currency Online – Moving Money Made Easy Hi there, The respite for the GBP didn’t last long. After having a go at regaining some respectability against the USD, some fairly average industrial production numbers out early last week put paid to that, and the tone was set for the rest of the week. Another blow for the pound was the Reserve Bank of Australia’s decision to increase their official lending rate to 3.25%. This had investors clambering to buy Aussie dollars at the expense of all the major currencies including the UK pound. As you can see below, the GBP/AUD cross got hammered. The unfortunate thing for those looking to repatriate pounds back into Aussie, is the trend looks like continuing. Compared to the same time last year, the UK pound has slipped 30% against the AUD. Anyway, enough of that. As for the week ahead, a heap of data due out for the markets to get their teeth into. Most of the ‘meaty’ data is due out from the northern hemisphere. If the data comes out on the positive side, expect the Australian dollar to continue its trek north. The UK pound is in desperate news of some positive economic data otherwise its slippery slide will continue. A combination of positive global data and less than impressive UK economic date will see the pound slip further against the Aussie dollar. GBP/AUD High’s & Low’s (Bid) of last week; High: 1.7600 Low: 1.7250 GBP/AUD Expected Range for the Week; High: 1.7500 Low: 1.7050 Click here to view GBP/AUD charts Talk to your currency provider today about forward contracts to protect your currency risk. Kind regards, Jon Speedy Currency Online – Moving Money Made Easy
  8. Guest

    GBP/AUD - The Week Ahead

    Currency Online – Moving Money Made Easy Hello all, Against all predictions, there was a bit of respite for the beleaguered UK pound. Financial markets are always nervous. The recent trend has been to sell the safe haven currencies in favour of the likes of the higher yielding currencies such as the Australian dollar. The result of this sort of trend is the Australian dollar appreciates and generally the currency crosses such as the GBP/AUD get worse for those looking to repatriate funds from the UK into Australian dollars. However - some fairly shabby data out last week gave the currency and equity markets the jitters globally and the question was asked; “ how long is it really going to take to get out of this recession? “ The answers were not as clear-cut as they were a few weeks ago and the demand for the Australian currency lagged. As with last week, there is a heap of economic data due out this week (Bank of England rate announcement – expected on hold) and with it comes a good chance markets may feel the pinch of some fairly nervous investors. This being the case, I would expect the GBP/AUD cross to remain at around these levels or even improve slightly. GBP/AUD High’s & Low’s (Bid) of last week; High: 1.8390 Low: 1.8170 GBP/AUD Expected Range for the Week: High: 1.8550 Low: 1.8100 Click here to view GBP/AUD charts Kind regards, Jon Speedy Currency Online – Moving Money Made Easy
  9. Guest

    GBP/AUD - The Week Ahead

    Currency Online – Moving Money Made Easy Hello all, The trend continues. The UK pound loses more ground against the USD, whereas the Australian dollar holds relatively steady. As a result, the amount of Aussie dollars you get for your pound continues to shrink. The Bank of England isn’t doing their local currency any favours, happy to talk the currency down, stating a weaker sterling is helping the rebalancing of the UK economy. The Australian dollar in contrast remains in favour, as investors in the current climate are prepared to ditch “safe haven” currencies such as the US dollar and Japanese yen for the likes of the Australian dollar. This is to take advantage of the higher interest rates they can get for their investments. As for this week, there looks to be no respite for the beleaguered pound and the Aussie dollar looks like chalking up further gains against the sterling this week. There is a heap of economic data due out this week which will be of interest to all the markets. Definitely worth talking to your currency provider now about the best strategy to manage your money transfers. Forward contracts and market orders are two currency tools that should certainly be looked at immediately for those holding pounds and needing to transfer. GBP/AUD High’s & Low’s (Bid) of last week; High: 1.8772 Low: 1.8394 GBP/AUD Expected Range for the Week: High: 1.8550 Low: 1.8110 Kind regards, Jon Speedy Currency Online – Moving Money Made Easy
  10. Guest

    GBP/AUD - The Week Ahead

    Currency Online – Moving Money Made Easy Hi there, The UK pound continues to hold the dubious honour of being “the currency most out of favour.”Last week I mentioned the UK unemployment rate and UK retail sales figures must come out as good numbers for the currency to turn around its current woeful performance. This did not happen. In fact, unemployment rose more than expected and has climbed to 7.9% (more than 2% up on July last year) and retail sales in August were a lot worse than forecast. Further negative comments from the Bank of England late on Friday also weighed heavy on the pound. Apologies now to those holding Sterling as the rate of conversion of UK pounds back into Aussie dollars continues to get worse. This trend looks set to continue. There are more and more holders of pounds having to bite the bullet and get around 1.87 Australian dollars for their pound, compared to 2.6 in October last year. Definitely worth talking a currency provider now about the best strategy to manage your money transfers. Forward contracts and market orders are two currency tools that should certainly be looked at immediately for those holding pounds and looking to transfer. GBP/AUD High’s & Low’s (Bid) of last week; High: 1.9326 Low: 1.8740 GBP/AUD Expected Range for the Week; High: 1.8550 Low: 1.8950 Currency Online – Moving Money Made Easy
  11. Guest

    GBP/AUD - The Week Ahead

    Currency Online– Moving Money Made Easy GBP/AUD - The Week Ahead Hi all, The UK pound made a slight recovery against the Australian dollar last week. Both currencies appreciated against the weakening US dollar last week. The GBP gained ground at a greater pace than the AUD and thus the reason for the slight improvement in the UK pound against the Australian dollar. What will be of interest this week is the UK unemployment number due out Thursday and the UK retail sales figure due out the following day. Both these numbers will have to come out on the positive side if we are expected to see the UK pound continue to claw back ground. Overall though, it is what it is, and as mentioned last week, there is a greater likelihood the Australian economy has a lot more going for it than the UK economy at the moment. The potential for a quicker economic recovery downunder and the ability to unleash all those minerals when China gives the nod, still gives good support for the Aussie dollar. GBP/AUD High’s & Low’s (Bid) of last week; High: 1.9328 Low: 1.9138 GBP/AUD Expected Range for the Week: High: 1.9350 Low: 1.9100 Talk to your currency provider about how to best manage your currency needs. Kind regards, Jon Speedy Currency Online– Moving Money Made Easy
  12. Guest

    GBP/AUD - The Week Ahead

    Hello all, The GBP continues to perform dismally against the AUD. The Australian dollar opens this week at a one year high against the US dollar. Although the UK pound has picked up a bit of ground this year against the US currency, it has not done so at the same pace as the high flying Australian dollar. The pounds 13 year low against the AUD looks likely to extend itself over the coming months. Australia is showing signs it is coming out of recession. “The lucky country” has also got all those commodity reserves waiting to be mined as the “waking giant” China gets itself back on its feet. In contrast, the UK economy is going to take a lot more time to recover and meanwhile, news out of the UK hasn’t inspired investors to leap into their currency. Limit orders to take advantage of small spikes in the market could be your best option if needing to transfer in the not too distant future. GBP/AUD High’s & Low’s (Bid) of last week; High: 1.9492 Low: 1.9341 GBP/AUD Expected Range for the Week: High: 1.9400 Low: 1.9100 Talk to your currency provider today about how to best manage your currency needs. Kind regards, Jon Speedy Currency Online – Moving Money Made Easy
  13. Guest

    GBP/AUD - The Week Ahead

    Hi there, The GBP/AUD continued its slump last week. Generally poor UK data and revived interest in “risk sensitive” currencies such as the Australian Dollar has seen the GBP/AUD cross continue it 13 year plunge. GBP/AUD High’s & Low’s of last week; High: 1.9640 Low: 1.9330 The picture does not look like getting better for the beleaguered GBP. Although there are signs the UK housing market is picking up, the 13 year high in unemployment is weighing heavily on the pound. In contrast, the Australian economy sees light at the end of the tunnel. Although unemployment is higher than officials would like (still less than half the UK’s unemployment rate) the Australian economy is showing signs of picking up. Positive signs will spur the Reserve Bank of Australia into hiking the official lending rate this year. The RBA does meet tomorrow, but is unlikely to take action immediately. Of interest will be the accompanying statement which is likely to be positive for the Australian currency. If this is the case, the GBP/AUD will continue its slippery slide. GBP/AUD Expected Range for the Week: High: 1.9450 Low: 1.9150 Talk to your currency provider today about how to best manage your currency needs. Kind regards, Jon Speedy Currency Online – Money Transfers Made Easy
  14. Hi All, As promised here’s a brief update on what’s been happening with the Aussie Dollar over the last week. GBP/AUD slumped to a 13-year low against last week with the Aussie buoyed against a broadly weaker Sterling by hawkish comments on interest rates from the governor of Australia’s Central Bank. Glenn Stevens, RBA chief, lifted speculation of rate hikes to come after saying the current rate of 3.00% was an emergency measure and normal levels would be a “good deal north” of this. The Central Bank slashed Australian interest rates to record low as it moved to cushion the economy from the global financial crisis, but recent strong data has prompted its easing bias, setting the stage for eventual rate rises. This was highlighted after Australian consumer confidence climbed for a third month in August to a near two-year high and demand for domestic home loans rose for a ninth straight month in June last week. In Australia, a thin data calendar will give way to Tuesday’s RBA minutes of the August board meeting, expected to give some insight into when we might see some monetary tightening. In the UK, recent Unemployment figures showed a 13 year high which had a negative effect on the Pound as they suggest that the deterioration in the labour market is yet to show signs of stabilisation. AUD Movement – High’s & Low’s of last week (10/08/09 –14/08/09) High’s: 2.0068 Low's: 1.9584 A movement of 2.47% Difference on £200,000 High: 401,360 AUD Low: 391,680 AUD Difference of: 9,680 AUD. Whilst FX isn't the most thrilling of subjects, the sooner you begin to think about your money transfers, the more likely you are to make your money go further. Regards Jon Sermon HiFX
  15. GBP/AUD is currently at the lowest levels seen since 1996. Sterling has fallen significantly in value because its yield (interest rates) has fallen to 0.50% and the BoE have pumped a huge amount of money into the economy, further undermining its value. The UK economy is also in dire straits with rising unemployment and a housing market on the verge of collapse. But it’s not all doom and gloom people! Contrastingly, the Australian economy has actually weathered the global economic storm quite well and is only experiencing a very shallow recession; the number of people employed actually went up last month! Australian interest rates are still high compared to other OECD countries and are also expected rise more quickly than the UK. Thus, Australia’s better economic position, exposure to emerging economies and its attractive yield have resulted in a significant appreciation of the Australian Dollar against Sterling. This is certainly a good thing for those of you looking to send funds back to the UK. For those that aren’t and are actually looking to bring Sterling to Australia, now might be a good time to protect yourself from the rate going against you further, by taking out a ‘forward contract’ – basically locking in today’s rate for payment at a future date. Make sure you discuss the benefits of a forward contract with your currency provider, as they can be a very useful tool to not only protect you from adverse rate movements, but also give you peace of mind in knowing that your rate has been locked in. Feel free to contact Currency Online to discuss how to best manage your currency needs. Kind Regards, Jon Speedy Currency Online – Moving Money Made Easy
  16. Hi All, As promised here’s a brief update on what’s been happening with the Aussie Dollar over the last week. The Reserve Bank of Australia concluded at the end of its monthly meeting by saying the current low rate of 3.00% was justified, suggesting it was in no hurry to tighten. The revival in the domestic economy was highlighted after Australian employment exceeded all expectations by rising 32,200 in July, posting its largest gain in nine months to keep the jobless rate steady as 5.8%. A separate report revealed that retail sales for June disappointed with a 1.4% drop, however the decline followed three very strong months and lifted sales for the entire second quarter by a healthy 2.0%. AUD Movement – High’s & Low’s of last week (03/08/09 – 07/08/09) High’s: 2.0273 Low's: 1.9883 A movement of 1.96% Difference on £200,000 High: 405,460 AUD Low: 397,660 AUD Difference of: 7,800 AUD. Whilst FX isn't the most thrilling of subjects, the sooner you begin to think about your money transfers, the more likely you are to make your money go further. Regards Jon Sermon HiFX
  17. Hi All, Here is an update of what’s been happening in the Currency Markets throughout July with the Ozzie Dollar. GBP/AUD: The start of July saw sales figures jump by 1.0% in May, twice the market forecast, as government give-aways and historically low borrowing costs fuelled spending on the high street. However, the Aussie Dollar eased broadly as appetite for higher-yielding currencies and riskier assets waned following a bleaker than expected US jobs report. Aussie losses were compounded after Australia’s trade deficit doubled in May as a steep fall in the value of commodity exports overshadowed soft imports, likely just a taster of things to come as swinging price cuts for coal and iron ore feed through. As expected, the RBA left interest rates on hold at 3.0% for the third consecutive month but left the door open for further cuts later in the year if economic and financial conditions do not support a return to a sustainable recovery. On a positive note, consumer sentiment (+9.3%m/m) jumped to its highest level in 19 months as government handouts and low interest rates bolstered consumer confidence however, it could yet prove fragile given that the employment situation looks vulnerable. The AUD found support mid month from the release of the minutes from the RBA’s MPC meeting earlier this month which painted a cautiously optimistic picture of the Australian economy. Meanwhile, the CPI (Consumer Price Index) data painted a mixed picture with the headline number showing prices rising at a decade low 1.5%y/y. Last week the Reserve Bank of Australia signalled that it was prepared to raise interest rates as the economy recovered. The bullish comments added to the recent rise in investor confidence that has seen global stock markets rally aggressively. Glenn Stevens, Governor of the RBA suggested the Australian economy could well be coming out of recession in advance of most other developed countries. He added that Australian interest rates had likely troughed and dismissed the commonly held notion that rising unemployment would trigger further cuts. Stevens said that the RBA “doesn’t have to wait for unemployment to peak before raising rates” and that the rise in unemployment had been a little slower than earlier feared, and the effect of the more positive factors for households had, so far, outweighed fears of unemployment. In Australia, it’s a huge week ahead with June and Q2 retail sales, July employment, Q2 house prices and June’s trade figures. Current Central Bank Rates: Australia (Reserve Bank): 3.00% (Next Meeting 1st September) UK (Bank of England): 0.50% (Next Meeting 6th August) Highs & Lows of July: High: 2.0984 Low: 1.9830 A movement of 5.82% Difference this would make on £200k High: 419,680 AUD Low: 396,600 AUD A difference of 23,080 AUD. Whilst FX isn't the most thrilling of subjects, the sooner you begin to think about your money transfers, the more likely you are to make your money go further. Regards Jon Sermon HiFX
  18. Hi All, Here’s an update on what’s been happening in the currency markets over the last week. The Ozzie Dollar found support last week from the release of the minutes from the RBA’s MPC meeting earlier this month which painted a cautiously optimistic picture of the Australian economy. Meanwhile, the CPI data painted a mixed picture with the headline number showing prices rising at a decade low 1.5%y/y however the core figure (+3.6%y/y) remains stubbornly above the RBA’s 2- 3% target band and this could prevent the RBA cutting rates further in the months ahead. This week, attention turns to the NAB Quarterly Business Confidence Survey (Tues), New Home Sales (Wed) and Building Approvals (Thurs) for further signs of stabilisation in the economy. AUD Movement – High’s & Low’s of last week (20th – 24th July) High’s: 2.0399 Low's: 2.0019 A movement of 1.9% Difference on £200,000 High: 407,980 AUD Low: 400,380 AUD Difference of: 7,600 AUD Whilst FX certainly isn't the most thrilling of subjects, the sooner you begin to think about your money transfers, the more likely you are to make your money go further. Best Regards, Jon Sermon HiFX
  19. Guest

    GBP/AUD Weekly Update

    Hi All, Here’s an update of what’s been happening in the Currency Markets over the last week. As expected, the RBA left interest rates on hold at 3.0% for the third consecutive month, try to assist the economic recovery. There was some positive news as consumer confidence was its highest for 19 months!! Even though the employment situation looks wobbly! The equity markets are having an influence on the AUD strength, investors searching for ‘risk aversion’ tactics in the equity markets will add renewed pressure. AUD Movement – High’s & Low’s of last week (06/07/09 – 10/07/09) High’s: 2.0984 Low's: 2.0198 A movement of 3.89% Difference on £200,000 High: 419,680 AUD Low: 403,960 AUD Difference of: 15,720 AUD Whilst FX certainly isn't the most thrilling of subjects, the sooner you begin to think about your money transfers, the more likely you are to make your money go further. Best Regards, Jon Sermon HiFX
  20. Guest

    GBP/AUD Weekly Update

    Hi All, Here’s an update of what’s been happening in the Currency Markets over the last week. Looks like the lovely weather we had recently is starting to trickle away (at least down in Windsor that is) and I’m sure that many of you are looking forward to jetting off to sunnier climes over the coming months! (if your not already there that is) GBP/AUD dipped below the psychological 2.00 level last week (if only momentarily), with Sterling dented by concerns of political uncertainty and the Aussie buoyed after data showed Australia dodged a recession, fanning speculation the RBA is in no hurry to cut interest rates. Australia’s economy expanded last quarter as its best trade performance in 48 years helped offset a slump in business and housing investment, putting it among the few developed economies to have avoided recession. A government report on Wednesday showed GDP rose 0.4% in the three months to March from the previous quarter when it fell a revised 0.6%. The Central Bank also skipped a chance to cut again at its June policy meeting on Tuesday, pointing to stabilisation in the global economy and pockets of improvement at home. As mentioned above, last week we witnessed sterling dip as concerns of Political uncertainty had an effect on the pound with investors seeing sterling as an ‘unattractive’ asset to invest in. Some negative data from the UK showed that UK Construction output was down 9% on the first quarter, which also didn’t help the pound last week. As per usual we will post a further update next week. GBP/AUD - High’s & Low’s of last week (01/06/09 – 05/06/09) High: 2.0496 AUD Low: 1.9878 AUD Difference on £200k High: 409,920 AUD Low: 397,560 AUD So a difference of 12,360 AUD Whilst FX certainly isn't the most thrilling of subjects, the sooner you begin to think about your money transfers, the more likely you are to make your money go further. Best Regards, Jon Sermon HiFX
  21. Guest

    GBP/AUD Weekly Update

    Hi All, Here’s an update of what’s been happening in the Currency Markets over the last week. AUD initially dipped to a one-week low last Wednesday with Sterling weighed by a grim Q1 GDP reading and the Aussie buoyed by firmer than expected Australian retail sales. Sales jumped by 1.0% in May, twice the market forecast, as government give-aways and historically low borrowing costs fuelled spending on the high street. However, the local Dollar eased broadly on Thursday as appetite for higher-yielding currencies and riskier assets waned following a bleaker than expected US jobs report. Aussie losses were compounded after Australia’s trade deficit doubled in May as a steep fall in the value of commodity exports overshadowed soft imports. likely just a taster of things to come as swinging price cuts for coal and iron ore feed through. The markets inability to sustain a move beneath the psychological 2.0000 level suggests the current bear trend is running out of steam. Whilst above this level, it can be argued that a broad range still persists here, with initial gains readable towards 2.0750 and 2.0900 thereafter. However, our favoured view is for a resumption of the longer term downtrend, targeting the previous 1996 low at 1.8725 before any major reversal higher is seen. Australian data this week includes employment and housing finance figures, both important in Central Bank thinking going into the second half of the year. Whilst FX certainly isn't the most thrilling of subjects, the sooner you begin to think about your money transfers, the more likely you are to make your money go further. Best Regards, Jon Sermon HiFX __________________ Please feel free to contact the migration desk at HIFX plc migration@hifx.co.uk or on 01753 859 159.
  22. Hi All, As promised here’s a brief update on what’s been happening with the Aussie Dollar over the last week. GBP/AUD rallied to a two-month high last week with the Australian Dollar falling broadly, hurt by declining commodity prices and as a dearth of good news about the global economy prompted some investors to take profits after recent hefty gains. Further falls in metal prices also weighed down on the Aussie. Australia is the world’s leading exporter of commodities such as iron ore and copper, so lower metal prices are bad news for the local Dollar. Australia’s Central Bank saw no “pressing need” to cut interest rates at its recent monthly policy meeting given signs of stabilisation at home and abroad, though it judged there was scope to ease further if necessary. Minutes of the 2nd June policy meeting reinforced expectations that the RBA was done cutting rates for some time now, helping the Aussie rebound against Sterling. Also, data showed that New Vehicle sales came in at 5.4% in May, posting the biggest jump since early-1995. AUD Movement – High’s & Low’s of last week (15/06/09 –19/06/09) High’s: 2.0774 Low's: 2.0187 A movement of 2.91% Difference on £200,000 High: 415,480 AUD Low: 403,740 AUD Difference of: 11,740 AUD. Whilst FX isn't the most thrilling of subjects, the sooner you begin to think about your money transfers, the more likely you are to make your money go further. A monthly update will be added next week. Regards Jon Sermon HiFX
  23. Hi All, Here is an update of what’s been happening in the Currency Markets throughout June with the Ozzie Dollar. The summer has finally taken hold down in Windsor and it looks like we could be in for some record breaking temperatures over the coming weeks! (Fingers crossed). I’m sure many of you will be jetting off to even warmer climes over the coming weeks, so all the best to those that are. GBP/AUD: The month started as Sterling, dented by concerns of political uncertainty and the Aussie buoyed after data showed Australia dodged a recession, fanning speculation the RBA is in no hurry to cut interest rates. Australia’s economy expanded last quarter at its best trade performance in 48 years which helped offset a slump in business and housing investment, putting it among the few developed economies to have avoided recession. A government report on Wednesday showed GDP rose 0.4% in the three months to March from the previous quarter when it fell 0.6% (a revised figure). The Central Bank also skipped a chance to cut interest rates again at its June policy meeting on Tuesday, pointing to stabilisation in the global economy and pockets of improvement at home. Australian employment fell by far less than expected in May, showing surprising resilience for a second straight month and leading investors to further pare back the chances of further monetary easing. Data showed only a net 1,700 jobs were lost last month, compared to an expected drop of 30,000. The release followed a rise of 25,400 in April and left employment down just 9,400 so far this year. However, not all of the report was so promising. Full-time employment fell by a larger 26,200 and these jobs tend to pay more and offer greater security. The unemployment rate also rose back to 5.7%, reversing a dip in April and equalling a five-year high. Further falls in metal prices also weighed down on the Aussie. Australia is the world’s leading exporter of commodities such as iron ore and copper, so lower metal prices are bad news for the local Dollar. Australia’s Central Bank saw no “pressing need” to cut interest rates at its recent monthly policy meeting given signs of stabilisation at home and abroad, though it judged there was scope to ease further if necessary. Minutes of the 2nd June policy meeting reinforced expectations that the RBA was done cutting rates for some time now, helping the Aussie rebound against Sterling. GBP/AUD closed last week broadly unchanged in spite of volatile trading, with the Aussie recovering from a two-month low as global investor risk appetite resurfaced and the currency cashed in on a softer Kiwi. The Australian Dollar initially came under pressure on Monday on the back of heightened speculation that local interest rates could fall rather than rise due to rising unemployment, tame inflationary pressures and the ensuing slack in the economy. However, we saw an encouraging 5.4% jump in new vehicle sales in May from the previous month, posting the biggest increase since early 2005. The strength suggested that fiscal pump priming and low interest rates continued to support demand last month and could point to another healthy reading for retail sales. Current Central Bank Rates: Australia (Reserve Bank): 3.00% (Next Meeting 7th July) UK (Bank of England): 0.50% (Next Meeting 9th July) Highs & Lows of June: High: 2.0878 – on the 22/06/09 Low: 1.9871 – on the 05/06/09 Difference on £200k High: 417,560 AUD Low: 397,420 AUD A difference of 20,140 AUD. Whilst FX isn't the most thrilling of subjects, the sooner you begin to think about your money transfers, the more likely you are to make your money go further. Regards Jon Sermon HiFX
  24. Hi All, As promised he is an update of what's been happening throughout the Currency Markets over the last month. GBP/AUD dipped to a fresh 12-year low at the start of May, with the Aussie encouraged by tentative signs the world economy may be on the road to recovery, outweighing some poor domestic economic data. Figures from the Reserve Bank of Australia also showed total credit rose a meagre 0.1% in March, well below forecast, pulled down mainly by sluggish business credit that declined by 0.6% from February. That mirrored a private sector survey which showed businesses were struggling with the worst conditions in almost 17 years last quarter. A collapse in forward orders and exports left them even more pessimistic about the outlook for the coming months. The survey of more than 900 firms from the National Australia Bank found business expectations for the next twelve months fell to their lowest level since the survey began in 1988. The Aussie retreated from a seven-year high against Sterling mid month as mixed global economic data cast doubt on the strength of a recovery in the world economy, hurting demand for riskier currencies. The local Dollar remained under pressure after Australia’s government unveiled its largest deficit on record and forecast a decade of debt in its budget, designed to nurse the economy through recession and keep open the option of an early election. Treasurer Wayne Swan said the global downturn forced the government to write down revenues by AUD23 billion in the current year, its biggest hit to income since the Great Depression, and by AUD210 billion over four years. The budget forecast the economy to shrink 0.5% in 2009/10 before bouncing back to 2.25%growth in 2010/11, with unemployment to rise 8.25% by June 2010 from 5.4% now. Consumer confidence fell this month, reversing some of April’s surge while consumers were also notably unhappy with the Central Bank’s decision to keep interest rates unchanged at 3.00% in May. The survey of 1,200 people by the Westpac-Melbourne Institute showed its index of consumer sentiment fell 4.3% to 88.8 between April and May, its second biggest fall following the release of a budget in the last ten years. Prospects of a weakening jobs market led to a rather moderate rise in wage costs for the first quarter. Government data on Wednesday showed first-quarter wage costs rose 0.8% in the first quarter, in line with expectations but slowing from a revised 1.3% rise in Q4. GBP/AUD edged lower last week with the AUD boosted mostly by broadly higher commodity prices and growing investor risk appetite. Nevertheless, the Aussie came under fire mid-week after Australian business investment fell faster than expected last quarter, with companies slashing spending plans in the face of the economic crisis, adding to the view that the country is in its first recession since 1991. The slump in business expenditure was driven by the largest quarterly fall in plant and equipment spending since the survey began in 1987. This will feed into first quarter gross domestic product, which is likely to show a drop in the value of all goods and services produced. The government reported capital spending fell 8.9% in the first three months of 2009 to AUD22.96 billion and reversed the previous quarter’s surprise 7.3% rise. Central bank rates OZ: 3.00% (Next meeting 7th July) US: 0.25% (Next meeting 24th June) ECB: 1.00% High & Low of the month High: 2.0599 (on the 27/05/09) Low: 1.9687 (on the 08/05/09) Difference in cost on £200k: High: 411,980 AUD Low: 393,740 AUD A difference of 18,240 AUD Whilst FX isn't the most thrilling of subjects, the sooner you begin to think about your money transfers, the more likely you are to make your money go further. Best Regards, Jon Sermon HiFX
  25. Guest

    GBP/AUD Weekly Update

    Hi All, As promised here’s a brief update on what’s been happening with the Aussie Dollar over the last week. GBP/AUD rallied to a three-week high last Wednesday after domestic economic data showed a key measure of Australian consumer confidence fell in May, hurt by the previous week’s debt-fuelled government budget and by worries about job losses. Consumer confidence fell this month, reversing some of April’s surge while consumers were also notably unhappy with the Central Bank’s decision to keep interest rates unchanged at 3.00% in May. The survey of 1,200 people by the Westpac-Melbourne Institute showed its index of consumer sentiment fell 4.3% to 88.8 between April and May, its second biggest fall following the release of a budget in the last ten years. Prospects of a weakening jobs market led to a rather moderate rise in wage costs for the first quarter. Government data on Wednesday showed first-quarter wage costs rose 0.8% in the first quarter, in line with expectations but slowing from a revised 1.3% rise in Q4. GBP/AUD Movement – High’s & Low’s of last week (18/05/09 –22/05/09) High’s: 2.0451 (21/05/09) Low's: 1.9934 (19/05/09) Difference on £200,000 High: 409,020 AUD Low: 398,680 AUD Difference of: 10,340 AUD. Whilst FX isn't the most thrilling of subjects, the sooner you begin to think about your money transfers, the more likely you are to make your money go further. A monthly update will be added next week. Regards Jon Sermon HiFX
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