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    Thread: The Pound vs Australian dollar


    1. #181

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      There is speculation of a trade deal being announced this week between China & Australia - if this happens (and it's still to be confirmed), it could strengthen the Australian dollar against the pound.

    2. #182

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      The Australian dollar has weakened slightly aginst the pound - the dollar's weakness followed the price of iron ore (Australia's top export earner) slipped to its lowest level in five years.

    3. #183

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      The Australian dollar got off to a good start this week, strengthening by more than a cent against sterling last Friday, but gave back all that and more as the week progressed. It lost two cents to the euro, one and a half cents to sterling and was down by half a US cent.

      That was some achievement, because neither the pound nor the Greenback was in favour with investors last week. They seemed to think the US dollar had risen far enough and they were inclined to sell any spikes. As for sterling, they were still smarting from the postponement of higher interest rates.

      However, the economic data from China were not very good and there were no domestic ecostats to offset them. Australian vehicle sales were down by -0.5% on the year and of the two forward-looking economic indicators, one pointed to contraction and the other to zero growth.

    4. #184

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      The Australian dollar remains weak against the pound - therefore it is decent levels for those looking to send money to Australia.

      The Aussie dollar has been weak mainly due to poor economic growth figures in Australia and also disappointing data from China (a key trading country for Australia).

    5. #185

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      Hi everyone

      Wishing you all a Merry Christmas and a Happy New Year!

      Best wishes

      John & The Moneycorp Team

    6. #186

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      Happy New Year everyone.

      Australian dollar currency overview and the latest news is below – thanks


      From the beginning of December until Christmas the Australian dollar continued the retreat that had begun in mid-November. On the month it lost four US cents and fell by five cents against sterling. In the second half of December the Aussie touched five-year lows against the pound and the US dollar. At the end of the month it scored a nine-year low against the NZ dollar.

      So December was not exactly the best month ever for the Aussie. It was hampered by weak economic data from China and the domestic statistics were none too sharp either. The Chinese economy is not exactly slowing: the People's Bank of China predicts it will expand by 7.1% this year. But it is growing more slowly and the country is less hungry for Australia's iron ore and coal exports. China is also importing less from other countries. In November imports were down by -6.7% from the same month in 2013. Reduced Chinese demand continues to depress commodity prices. The Reserve Bank of Australia's Commodity Index has been on the decline since the middle of 2012. In December it was down by -21.2% on the year. All in all, Australia is exporting less stuff and charging lower prices for it. That means reduced demand for the Australian dollar at a commercial level.

      Investors are not so keen on the Aussie either. They certainly found little encouragement to buy it among the month's Australian economic statistics. Unemployment ticked up to 6.3%. Manufacturers, builders and services firms all reported dwindling activity. The balance of trade was in deficit for a seventh consecutive month. Australia's economy expanded by only 0.3% in the third quarter of the year, the slowest pace of growth since 2011.

      With that in mind, the Reserve Bank of Australia is in no mood to increase interest rates. If anything, its next move is likely to be a rate cut. That prospect makes investors even less inclined to buy the Aussie.

      The coming year could mean more setbacks for the Australian dollar, at least against the British pound and the US dollar. American interest rates are cautiously expected to start moving higher in the first half of the year, with UK rates following in the second half. However, it is possible that the Australian dollar will strengthen against the euro, as it did in 2014. Investors might not much care for the Aussie but they are even more disenchanted by the euro.

    7. #187

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      The pound has weakened recently against the Australian dollar.

      Weak economic data (service sector) from the UK has led to the pound being weaker – also data has been released showing the housing market has slowed down.

      This has led to some worries about the overall performance of the UK economy although some believe we should not be getting too worried yet following the recent data releases.

      For Australia – the monthly trade data for November was better than expected which also boosted the Aussie dollar.

    8. #188

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      The pound has become slightly stronger against the Australian dollar in recent days.

      Why?

      Decline in commodity prices – eg Copper which is a large mineral export for Australia.

      Inflation figures from the UK released overall helped the pound - Britain is still doing better than much of Europe in relation to this.

    9. #189

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      The exchange rate has been quite volatile this week – overall the Australian dollar has been much weaker against the pound. Good news for those looking to transfer money to Australia in the short term.

      A lot of focus has been on the ECB decision on their Quantitative Easing programme. Additionally, there is some speculation that the RBA may look to cut interest rates in Australia – this would likely have an impact on the Australian dollar making it weaken further.

    10. #190

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      The Australian dollar is still under pressure however was boosted slightly by economic news released.

      Higher-than-expected inflation data in Australia from this morning. Whilst they put headline inflation slightly below forecast at 1.7%, the "trimmed mean" - a favourite measure for the Reserve Bank of Australia - more than doubled from 0.3% to 0.7%. Investors saw that increase as reducing the downward pressure on the potential cut on interest rates in Australia.

     

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