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  1. John from Moneycorp

    Currency Transfers with Moneycorp

    A Guide to Sending Money Overseas Hundreds of Poms in Oz members have benefited from using Moneycorp for their international money transfers. Moneycorp’s services are straightforward, simple to use and will save you money. The following text outlines the 4 step process and how it works. 1. Set up your Moneycorp account To start making money transfers, you will need to open an account with Moneycorp. This can be done online and only takes a few minutes - click here to register Opening an account carries no costs or obligations on your behalf. 2. Choose the best solution for your needs Once your Account is set up, your personal account manager will contact you to identify and discuss your specific requirements. They will be your personal point of contact for all future transactions and will explain the proposed course of action and options that best suits your personal needs. 3. Arrange your finances Once you have verbally agreed to a money transfer with your personal account manager, you will be sent a Contract Summary outlining the details. This document will include a form giving you instructions on how to transfer your funds to Moneycorp. The Contract Summary will also include a Transfer Instruction form, on which you will need to put details of the bank account(s) into which you would like your currency to be paid following your transaction. For further information regarding the different options when buying your currency, please click here 4. Payment methods You may use one of a variety of payment methods to send your funds to Moneycorp. Everything will be explained clearly by our staff and there is a dedicated customer service team who can help you with any questions you might have. Poms in Oz & Moneycorp Exclusively for PomsInOz members, you will not pay any transfer fees when sending your money overseas. Register with Moneycorp by clicking here For more information, call +44 (0)20 7589 3000, please remember to quote PomsInOz.
  2. Susan from Moneycorp

    Security of your Funds

    With reports of regular breaches of online security, it would be wise to fully understand how your chosen Financial Institution protects your money. Here we detail how Moneycorp stores your funds securely and ways to protect yourself online: https://www.moneycorp.com/en-au/news-hub/staying-secure-online/
  3. 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.
  4. 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.
  5. 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.
  6. 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).
  7. 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
  8. https://www.moneycorp.com/en-au/news-hub/what-has-been-the-impact-of-the-coronavirus-on-the-australian-dollar/
  9. Which is the better option in transferring money to Australia , Moneycorp or Transferwise ? Any other suggestions? I am looking to transfer something between 5000 GBP to 8,000 GBP to an Australian bank account ?
  10. Interested in potentially getting a better deal than your bank when sending money overseas? If so, you should consider using a foreign exchange specialist company when sending money to or from Australia. A specialist company, like Moneycorp, can offer you great exchange rates and free expert guidance on the Australian dollar to save you time and money when transferring money abroad. When using Moneycorp you can expect exchange rates that are typically up to 4% better than you would get from a high street bank - this can make a huge difference to your finances. Special offer - no transfer fees Your bank may charge you anything from £20 to £40 (or currency equivalent) to send your money to or from Australia. Moneycorp don’t charge commission and exclusively for Poms in Oz members all transfer fees are waived – so you can save money on transfer fees alone. How can I register for a free Moneycorp account? Thousands of forum members have saved money by using Moneycorp. It’s simple to register for a free account and the process only takes a few minutes – click here to register online with Moneycorp.
  11. Hi All, I've just set up a Moneycorp account and am emailing my proof od ID's as we speak.. Can someone please clarify if we can do the below? 1. Send money from our UK bank account to our Oz bank accounts? 2. Set up a transfer to happen each month from our Oz bank account to our UK account (as we still need to pay loan), is this done using a sterling number or Aus$? I've looked all over their website but am not 100% clear! Thanks, Jay
  12. A Guide to Sending Money Overseas Hundreds of Poms in Oz members have benefited from using Moneycorp for their international money transfers. Moneycorp’s services are straightforward, simple to use and will save you money. The following text outlines the 4 step process and how it works. 1. Set up your Moneycorp account To start making money transfers, you will need to open an account with Moneycorp. This can be done online and only takes a few minutes - click here to register Opening an account carries no costs or obligations on your behalf. 2. Choose the best solution for your needs Once your Account is set up, your personal account manager will contact you to identify and discuss your specific requirements. They will be your personal point of contact for all future transactions and will explain the proposed course of action and options that best suits your personal needs. 3. Arrange your finances Once you have verbally agreed to a money transfer with your personal account manager, you will be sent a Contract Summary outlining the details. This document will include a form giving you instructions on how to transfer your funds to Moneycorp. The Contract Summary will also include a Transfer Instruction form, on which you will need to put details of the bank account(s) into which you would like your currency to be paid following your transaction. For further information regarding the different options when buying your currency, please click here 4. Payment methods You may use one of a variety of payment methods to send your funds to Moneycorp. Everything will be explained clearly by our staff and there is a dedicated customer service team who can help you with any questions you might have. Poms in Oz & Moneycorp Exclusively for PomsInOz members, you will not pay any transfer fees when sending your money overseas. Register with Moneycorp by clicking here For more information, call +44 (0)20 7589 3000, please remember to quote PomsInOz.
  13. just tried to open an account with moneycorp, recieved an email to say that they can't transfer funds due to strict regulations in Australia??.
  14. Guest

    banks, hifx and moneycorp

    Hi I'm a brand new member due to immigrate in Australia from France. I'm struggling with which bank which money transfer question and would be grateful to hear anyones advise and/or experiences. Oh we're moving to WA Perth or south of Perth area if that makes a diiference. Thanks!
  15. Hi, Arrived in Canberra today and am hoping to transfer money using Moneycorp from my UK account into Australian account. All the phone numbers seem to be UK ones... Is there not an Australian number? It will be expensive to call UK number. IS it possible to do it on-line? Thanks, Mike.
  16. Hi guys, Just looking at which bank to go with here in AUS and as i will be using MoneyCorp i was wondering what charges (if any) people have encountered when transferring money in and out of the counry (to/from the UK) with the AUS banks.... ...I have ben thinking about going with Commenwealth Bank but not really sure.... It states on their website they charge $22 for international money transfers but i'm unsure if this would be charged if going through MoneyCorp Cheers Roflie
  17. Hi, I am currenty in Oz and i want to transfer some money from my Lloyds tsb account in england to my NAB account in Oz. I have transferred via Money corp when i was in england and I know as a poms member NAB dont charge any recieving fees from Moneycorp however, as moneycorp business account is with HSBC i was told i would get charged transferring money to the moneycorp HSBC account from my Lloyds. I decided to put the cash in HSBC moneycorp physically myself and sent a copy of this to Moneycorp and it went through all ok. The problem is i am now in Oz and i wish to pay NO fees. How do i transfer from my Lloyds account to Money corp free of charge. I have the online GPS... would this work. Hopefully john will answer my uestion.
  18. [img2=right]http://www.pomsinoz.com/forum/../images/moneycorp-graph-pio.png[/img2] Australian dollar – review from Moneycorp Following the spike in autumn 2008, which took it to a five-year high at $2.70, sterling spent two years on the retreat, losing more than half its peak value in the process. It bottomed out at $1.51 in late December, an all-time low, rebounding to $1.60 in early January. Since then it has gone nowhere. For eight weeks the pound has inhabited a five-cent-wide channel between $1.5750 and $1.6250, moving up and down through the $1.60 midpoint two or three times a week. There is no particular reason for the Aussie's temporarily high correlation with sterling. If anything, the dollar should still be making hay while the sun shines on its 4.75% Cash Rate as it snows on the pound's 0.5% Bank Rate. The two currencies are subject to different pressures even apart from the interest rate differential. The UK economy is heavily dependent on the contribution from financial services, a sector that was hard-hit by the crisis and precipitated the recession. Australia's mining and agricultural sectors are big exporters of products for which there has been consistent demand from, among others, China. That steady flow of exports helped Australia to avoid recession entirely. Britain's economy grew by 1.5% in 2010 while growth in Australia pushed ahead by 2.7%. Investors are under no compulsion to keep currencies on the move, even though that is what they usually do. With the goings-on in Egypt, Libya and the Gulf they see no reason to send GBP/AUD one way or the other, hence this temporary stability in the exchange rate. But that it what it is likely to be; temporary. The next chapter For more than twenty years the pound spent the vast majority of its time wandering between $2 and $3. Against that background the Australian dollar's current strength could be a fluke, soon to be corrected. It could also reflect a fundamental change in the world order. The pain felt by Britain's economy is far from over. Negative growth in the fourth quarter of 2010 was a reminder that there is no simple choice between forward and reverse for an economy. America has shown that growth does not necessarily bring more jobs and greater spending power. UK government spending cuts and tax increases will be felt more deeply as the months go by and it will be years before things get back to "normal". House prices are stagnant and there is a yawning gulf between bid and offer. The indices from Halifax, Nationwide and the Land Registry that plot transaction prices show an average property changing hands at £162,854. The one from Rightmove that plots asking prices shows sellers asking £233,121 for that same average house. Another problem is the inflation that eats further into people's spending power. At 4% it is twice as high as it should be. Without January's VAT increase and high oil and food prices inflation would be fairly close to its 2% target but that's like saying without all this rain we would be able to sunbathe. It looks as though the Bank of England is beginning to lean towards an interest rate increase, if only to prove to the world that it is not asleep on the job. That prospect is helping the pound. The Australian dollar has already done that legwork. With no recession to worry about the Reserve Bank of Australia has raised its cash rate from 3% to 4.75% over the last 18 months. The rate could go higher still in the second half of this year. There has been no fall in house prices either, despite warnings of a bubble. The Economist said recently that Australian house prices are the most inflated in the world, 56% above fair value. It is not a new argument but it does make you wonder whether the 5.8% increase in 2010 reported by the Australian Bureau of Statistics will be repeated in 2011. The other bubble faced by the Australian economy and the dollar is the one inflating in Southeast Asia. Beijing has so far been reluctant to lean too heavily on the rising commodity and asset prices that are fuelling inflation there but analysts worry that the longer the authorities do nothing, the bigger the problem they lay in store. If demand from China were to slow sharply it would dampen appetite for the Australian dollar and other commodity-related currencies. Summary After more than two months steady around $1.60 the only reason to expect the GBP/AUD exchange rate to move is because it cannot remain static forever. Still close to its all-time highs against the US dollar, the euro, the yen and the pound the Aussie is undoubtedly overvalued. That suggests the next move for sterling will be upward but it does not indicate when, nor does it prevent the Aussie becoming even more overvalued in the meantime. Click here for more information on the Australian dollar and receiving the best exchange rates.
  19. so im assuming Moneycorp dont do this for the goodness of there health so where do i lose money/ where do they make money. If im transferring £20000 at a 1.60 rate will all that still be mine or do i lose it to money corp or the bank, im with westpac
  20. Hi John, Hope all is well :smile: Just a quick question please. Is the GPS system an online application where I can setup the bank accounts etc and do transfers online at my leisure from home? If so, how can I get access to the GPS system? I am already a moneycorp member. Cheers B!K3R
  21. Plan ahead by moving overseas with the experts! Moving to Australia is not without its ups and downs. To make sure you stay ahead of the game, it pays to be well informed. Everyone wants to start their new life down under with as much money as possible and there are a number of things you can do to ensure you make the most of your funds. Key topics always discussed on the forum include moving your possessions and transferring your money into your new Australian bank account. Poms in Oz is hosting Live Chat sessions with leading experts in banking, currency exchange and international removals. These sessions will take place today from 12pm-2pm and 8pm-10pm (UK Time). National Australia Bank, Moneycorp and PSS International Removals will be on hand to answer any questions you may have about your move. To participate in the chat sessions, select the 'chat' menu option at the top of the page., this will launch the chat software. There will different 'rooms' for each of the different companies. If you are an unregistered visitor, to take part, use this link - Chat with Industry Experts. Once the chat software has loaded, tick the 'Guest' option at the top of the chat window, then choose a username and enter the 'Moneycorp, NAB or PSS' chat rooms. National Australia Bank [img2=right]http://www.pomsinoz.com/images/chat-nab.png[/img2] Rebecca Joils will talk about the Australian Banking system providing you with some insights as to what is different between the UK and Australia. She will also talk about how straight forward it is to open an Australian Bank account before you leave home and some of the services you should consider. Moneycorp [img2=right]http://www.pomsinoz.com/images/chat-moneycorp.png[/img2] Whether you are moving to Australia, or living there already, Jonathan Griffith and John Kinghorn will bring you the latest updates on the Aussie dollar and provide insight into the key factors influencing market movements. Exchange rates are constantly fluctuating and transferring your funds at the right time, via the right channel, can make a big difference to the amount of money you actually end up with. PSS International Removals [img2=right]http://www.pomsinoz.com/images/chat-pss.png[/img2] One of the key ingredients when you are moving overseas is the planning of your removal. Liam Witham and John Moynes will be on hand to offer advice and answer any questions you may have regarding the packing and shipping of your household effects, including what items you can ship to Australia, Australian Customs procedures and AQIS. Whether you are importing household effects or just a vehicle, it is never too early to start researching or to start the process.
  22. Hi, I am moving to Sydney in 10 days. I need to send £2000 over and have already set up an NAB account. Is moneycorp my best option? I don't really have time to shop around. I think they said they will charge me a £15 transfer fee, whereas HSBC (my current bank) will charge £17. I don't know how much the exchange rate compares between banks and moneycorp. If anyone could let me know my best option that would be great, or let me know their experiences of moneycorp. Thanks! Arghh nervous now!
  23. STERLING AHEAD ON ALMOST EVERY FRONT UK retail sales report strongest in three years. Low inflation print suggests no change for AUD interest rates this week. As far as the UK economic data were concerned it was a low-key week for sterling. Nationwide announced a -0.5% monthly fall in house prices, the Bank of England reported a slight fall in the number of mortgage approvals in June. Gfk's index of consumer confidence was three points lower at -22. The only statistic that made any difference - and it was a positive one - was the CBI's distributive trades survey. It was surprisingly strong with a net 33% of shopkeepers reporting higher sales in July; the strongest reading for three years. In one of sterling's luckier weeks it had also a minimal amount of non-statistical flak to avoid. The National Institute for Economic and Social Research (NIESR) shot wide when it assessed the risk of Britain's economy falling back into recession next year at one in five. Prior to June's emergency budget that risk was one in seven. NIESR thinks living standards will not return to pre-crisis levels until 2015, roughly the same time horizon recently mentioned by the Federal Reserve in the States. Another damper-than-usual squib was Bank of England Governor Mervyn King's appearance in front of the Treasury Select Committee. His comments were in line with recent Monetary Policy Committee minutes and sparked no reaction from sterling. The governor was evasive at times: Answering a question about the impact of the emergency budget, and the risk of it derailing the recovery, he said 'I don't think it made a significant difference to whether we would get what is technically called a double-dip recession.' Two inflation measures last week rained on the parade of those looking for higher Australian interest rates. At the beginning of the week the producer price index - factory gate prices - went up by 0.2% in the second quarter of the year after analysts had predicted it would rise by 0.8%. Although that took the year-on-year increase to 1.0% that was still well below the 1.5% annual rise investors had been looking for. The disappointment on Wednesday was even greater when the consumer price index rose by considerably less than the 1% that markets had been expecting. At 0.6% CPI inflation was well short of the level that would make an interest rate increase by the Reserve Bank of Australia inevitable at this week's policy meeting. A survey of 23 economists by Bloomberg found all of them predicting the RBA would leave its benchmark interest rate unchanged at 4.5% on Tuesday. Taking advantage of Britain's impressive GDP performance in Q2, sterling made it back to the top of the range that has held it for a fortnight. It shows no sign of breaking higher as long as investors lean towards the growth-and-recovery story and continue to favour the currencies with higher yields. Buyers of the Australian dollar should continue to hedge 50% of their requirement.
  24. Hi everyone I have been asked if I can receive money via Moneycorp as it might be cheaper for me to receive the money this way and for the person to send it. Does anyone know if this is possible? Is there any cost to me to set up / receive / withdraw via Moneycorp? Any advice would be appreciated. Love Rudi x
  25. hi to all ive just sold my house and pondering should i put all my proseeds into moneycorp in one go or drip feed it any help tonyl
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