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    Thread: The Pound vs Australian dollar


    1. #91

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      The pound is stronger against the Australian dollar today.

      There is anticipation, in Australia, that there could be another interest rate cut in the near term.

      The pound has also reacted well to comments from Bank of England Governor Mark Carney – his personal view is that he doesn’t see a case for quantitative easing stating the UK economy is strengthening.
      Last edited by John from Moneycorp; 27-09-2013 at 09:14 AM.

    2. #92

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      The Australian dollar has been under pressure recently, losing lost more than three and a half cents to the British pound.

      Most important to the Aussie's fortunes was the US Congress, where Republicans and Democrats cannot agree on a new spending bill. With no last-minute compromise the US government will have to shut down non-essential services this week. Investors see this as bad for the US dollar and bad for the commodity currencies, including the AUD.

      On Tuesday, the Reserve Bank of Australia kept its Cash Rate steady at 2.5% and implied in its statement that it was not planning another rate cut.

    3. #93

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      A review of the Australian dollar from the past month is below - thanks.

      The antipodean duo led the field in September, gaining ground against the world's other major currencies. It was the New Zealand dollar that eventually took the crown, adding two cents against the Aussie, but the performance of the Australian dollar was proof that it hasn't yet given up the struggle. The AUD strengthened by 4% against the US dollar (four cents), 2% against the euro (almost three cents) and by 0.5% against the British pound (three quarters of a cent).

      The Aussie began September in rather better form than it finished. For the first three weeks of the month it looked as though it really would confound the pessimists who had condemned it to a continued erosion. In the process it almost regained the levels last seen in mid-August. But the rot set in once again and at the time of writing, in early October, the Australian dollar was within a cent of a three-year low.

      Most of the statistical evidence offered a confusing mix of positive and negative news from the Australian economy. Business confidence improved but business conditions deteriorated. New motor vehicle sales were up in August but the increase was not enough to wipe out the previous month's decline. The same was true of new home sales, where the rise in August was smaller than the fall in July. An unmistakably bad set of employment figures showed fewer people in work and more on the dole. Two weeks later an unmistakably good set of manufacturing figures showed growth returning to the sector for the first time since February last year.

      Ecostats aside, the Aussie's main driver in the last month was investor sentiment; not just sentiment about the AUD itself but the general attitude to life, the universe and everything. During most of September investors were optimistic, helped by America's non-invasion of Syria, by the improving economic performance of Australia's biggest export customer, China, and by the Reserve Bank of Australia's hint that it was not teeing up another interest rate cut. At the end of the month however, investors were worrying about political problems in Washington and Rome that had negative implications for the US dollar and the euro, and therefore for a large chunk of the Western world's economy.

      It will probably not be until the US Congress gets its sorry act together that the Aussie will again behave as a free agent, and on current form that could take weeks, not days. In the meantime the Australian dollar is likely to react to political developments in Washington at least as vigorously as it reacts to economic developments in Australia.

    4. #94

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      The Australian dollar had a good week against the pound.

      Why?

      The Aussie was one of the top performers last week, strengthening by a cent and a quarter against the pound. It received help from news of stronger-than-expected Australian retail sales and purchasing managers' index (PMI) readings.

      Another boost came from the Reserve Bank of Australia, which kept its Cash Rate steady at 2.5% and implied in its statement that it was not planning another rate cut.
      Last edited by John from Moneycorp; 07-10-2013 at 04:07 PM.

    5. #95

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      The latest Australian dollar update is below, thanks.

      The Australian and New Zealand dollars both had a good week. For the Aussie it meant a cent-and-a-quarter gain against the British pound, two thirds of a cent won from the euro and a half-cent climb against the US dollar.

      As the week progressed investors became steadily more confident that the warring politicians in Washington would not drive the United states over the brink of default by refusing to approve an increase to the "debt ceiling", the aggregate limit on the amount the government can borrow. With that in mind they shunned the safe-haven Japanese yen and reinvested in the allegedly more "risky" commodity-oriented currencies including the Australian and New Zealand dollars. The Australian economic data helped that cause; more than 9k more people found work in September and the unemployment rate fell from 5.8% to 5.6%.

    6. #96

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      The Aussie dollar had a difficult week. It lost two thirds of a cent to the US dollar, a cent and a quarter to the pound and two and a quarter cents to the euro.

      Why?

      Two important influences affected the Australian dollar, both of them occurring on Wednesday morning.

      The first, and a positive for the Aussie, was a higher-than-expected 2.2% inflation rate. Investors saw it as delaying any move by the Reserve Bank of Australia to reduce AUD interest rates.

      The second event, just a couple of hours later, was a negative. There was a sharp sell-off for all the commodity-related currencies in response to a squeeze in the Chinese money market that pushed up short-term rates. Investors feared that the Chinese authorities were deliberately trying to dampen the economy and, with it, Chinese demand for the exports of Australia, New Zealand and Canada.

    7. #97

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      Whats the short - medium term forecast? I am moving out in January would you advice holding off or cashing in now?
      Angus 33 - Regional Manager Pharmaceuticals/Medical, Kate 34 - Primary Teacher, Logan 5, Jacinta 3 , Vetassess applied 10/01/2012 Approved 28/02/12 IELTS 9/9/9/9 9/2/12 Applied SA SS 5/3/12 SS offered 1/4/12 176 Visa applied 12/4/12 CO Assigned 21/4/12 176 VISA Granted 16/05/2012!!! Reccie 23/3 - 9/4/13 LOVED IT!​BIG MOVE - 8/1/14

    8. #98

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      Good question guspjmh! I'm interested in the answer/opinion too for same reason!


      "Nobody can go back and start a new beginning, but anyone can start today and make a new ending"

      ANMAC assessment submitted 2/2/12 received 19/4/12. Skilled Nominated (Permanent) subclass 190 visa applied 12/9/11 granted 2/11/12. AHPRA registration applied 18/5/13 eligibility received 12/7/13. 3 week visa validation & research visit 21/9/13. Leave one way to Adelaide 23/02/14!!!! Start new job 24/03/14!!!

    9. #99

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      Recently there have been movements in the GBP/AUD exchange rate based on some of the reasons below.

      US economic situation partially resolved which helped the Aussie dollar. The Aussie is known as a “risk currency” therefore any possible global economic problems/issues can have an adverse affect on the currency.

      Chinese economic data – any positive/negative news from China can have an impact on the Aussie dollar. Depending on what is released in the next few weeks, this could have an impact on the rate.

      Interest rates on hold in Australia – a further cut in interest rates, for example, could weaken the Aussie.

      What if I need to make a currency transfer soon?
      Speak with your Moneycorp account manager, they can provide expert insight on the Australian dollar as and when you need it – they can explain the various ways to buy your currency.

      These can help you take advantage of any favourable movements in the exchange rate and also protect you if the rate move downwards. Further information on these can be found here - http://moneytransfer.pomsinoz.com/various-ways-to-buy-currency.html

      Thanks

      John
      Last edited by John from Moneycorp; 28-10-2013 at 05:37 PM.

    10. #100

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      That was a sit-on-the-fence answer.

      I'm hoping to hold out until $1.70ish again, but not sure if it will happen by January. I wish the US would hurry up and taper, RBA would lower interest rates and Chinese data goes down the pan for a few months.

      Too much to ask?
      Angus 33 - Regional Manager Pharmaceuticals/Medical, Kate 34 - Primary Teacher, Logan 5, Jacinta 3 , Vetassess applied 10/01/2012 Approved 28/02/12 IELTS 9/9/9/9 9/2/12 Applied SA SS 5/3/12 SS offered 1/4/12 176 Visa applied 12/4/12 CO Assigned 21/4/12 176 VISA Granted 16/05/2012!!! Reccie 23/3 - 9/4/13 LOVED IT!​BIG MOVE - 8/1/14

     

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