Australian dollar update: 12/01/2012

**John from Moneycorp** · 12-01-2012, 10:08 AM

Investors have yet to decide what to do about GBP/AUD this year. Last week they allowed it to wander aimlessly within a one-and-a-half-cent range, nudging it back towards the centre-line on the odd occasion it wanted to go anywhere. Sterling opened in London this Monday unchanged on the shortened week.

The very few Australian statistics released over the last six days were vaguely positive but far from compelling. AiG's performance of manufacturing and performance of services indices for December – what other countries refer to as purchasing managers' indices – were both improvements over the previous month. The manufacturing index edged above the neutral point into the growth zone at 50.2 while the services figure was less gloomy at 49.0. The construction sector reading was a woeful 41.0 but at least it was less pathetic than the previous month's 39.6. Retail sales in November were flat in comparison with the same month last year.

So far this week, The Australian dollar continues to strengthen as a positive mood remains over the global economic outlook. The focus will be on Europe today with the European Central Bank due to make a decision on interest rates - the Aussie dollar may react positively/negatively depending on the news.

**The Standrings** · 12-01-2012, 08:27 PM

hi john
what does this actually mean? i have some money to change within the next few week shall i hang on to the sterling or wait?
thanks mate darren

**John from Moneycorp** · 13-01-2012, 08:30 AM

At the moment, the Australian dollar has benefited from a more stable global economic outlook – for example, the situation in Europe for now, appears calmer.

Recently, it has been uncertain times for all major currencies - therefore, if you have to change/transfer money soon, it is recommended to have the currency markets monitored on your behalf. There are also different options available when buying your currency which can protect you from negative movements in the rate and you can take advantage of favourable movements (click here for more info on this).

We could give you a call to discuss your situation in more depth, feel free to private message me.

Thanks

John

**Adelaide_bound** · 13-01-2012, 12:00 PM

Can we all pray to the money gods please for it to go up just a tiny .04? Please please please - sounds like so little, make such a big difference to us that its £1.52 rather than £1.48 :(

**Misplaced** · 13-01-2012, 12:32 PM

It's not looking good the exchange rate at the moment, infact it is really bad. If it gets any worse we may have to put the move on hold. I'm not asking for much but anywhere between $1.55 to $1.60 would be okay.

**Adelaide_bound** · 13-01-2012, 01:07 PM

Our opinion is, it is what it is - if you think it was £2.70 not that long ago really, its pants now. But then - my parents first house cost them less than double my mother's yearly wage as a nurse. There is no way as a teacher I will ever get on the property ladder in the UK now. So things change and you just have to put up with it.

If it doesn't change, oh well, our flights are booked, them the brakes. Next year it could be £1=$1. But a .04c change would make a world of difference to us for now :D

**railman2404** · 13-01-2012, 05:02 PM

Originally Posted by Adelaide_bound

Our opinion is, it is what it is - if you think it was £2.70 not that long ago really, its pants now. But then - my parents first house cost them less than double my mother's yearly wage as a nurse. There is no way as a teacher I will ever get on the property ladder in the UK now. So things change and you just have to put up with it.

If it doesn't change, oh well, our flights are booked, them the brakes. Next year it could be £1=$1. But a .04c change would make a world of difference to us for now :D

I'm with you and watching intensely hoping to come out later this year small changes can make big differences