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    Thread: The Pound vs Australian dollar


    1. #81

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      Mmmm, AU$ has suffered again overnight losing 0.75% against . There is also significant flight away from nearly all developing markets with Ind Rupee at levels I have not seen since taking a slight interest 10 years ago. It would seem the strengthening US $ is drawing investment away from most markets with UK also holding firm given recent financial and jobs data. Both are considered solid traditional havens for investors.

      Not all bad news as AU$ seemed to be significantly over valued such that this resetting will make investment and purchases from AU much more attractive including China who keen promising multi billion $ investments in rail etc.

      S
      Thames Migration appointed Jun12, VETASSESS passed July, EoI Aug12, IELTS retake 8.5 Sep12, EoI and 189 visa application Sep12, CO appointed Oct 12, Medicals, Police checks Nov12, Visa Granted 11/01/13. Now located in Brisbane, secured great employment and quickly establishing roots. Yes it really is the lucky country.

    2. #82

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      Latest Australian dollar review is below, thanks.

      The Aussie was on the back foot for most of the week as the developing situation with Syria saw investors heading for risk adverse assets. The currency started the week near the 0.9050 AUD/USD level and fell slowly through the early part of the week to reach a 3 week low of 0.8893 by late Tuesday.

      A bounce saw it rise to 0.8980 before settling a little lower by the end of the week. Against Sterling it fell to 1.7440 before rallying a little but the Aussie remains under pressure due to the weak fundamentals and the flight to quality.

    3. #83

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      In line with expectations, the Reserve Bank of Australia (RBA) has left interest rates unchanged at 2.5%. In their announcement, the RBA didn’t provide any indication over potential further rate cuts.

    4. #84

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      Good news for the UK this morning – construction activity grew at the fastest pace in nearly six years in August, in another sign that the economic recovery in the UK is gathering pace.

      There has also been some positive news for Australia which has boosted the Aussie dollar. Australia reported better-than-forecast growth numbers for the April to June quarter. Gross domestic product (GDP) expanded 2.6% during the quarter, from a year earlier.

      The Aussie dollar has also been stronger against the pound following the RBA statement earlier this week which did not signal any further interest rate cuts in the short term.

    5. #85

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      The Australian dollar is slightly stronger this morning following the Liberal-National coalition winning the Australian election.

      Also, data from China showed that exports rose more than expected in August to 7.2%. Worth keeping an eye out on further data released from China tomorrow - Chinese industrial production figures and retail trade for August are due out on Tuesday.

    6. #86

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      Interesting comments from Chancellor George Osborne yesterday – he said in a speech that the UK economy is “turning a corner”.

      He appeared to be directing his speech at his opponents, particularly the Labour party, who have been critical of the coalition government’s austerity measures.

      Time will tell if he has jumped the gun with his bullish comments – there has certainly been some positive signs recently in the UK, however there is still a long road ahead.

    7. #87

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      An overview of the currency news over the past month is below, thanks

      After six months on the retreat the Aussie dollar has been digging in. In early August and again at the beginning of September it touched a three-year low against the US dollar; in late August it rebounded from a three-year low against sterling.

      Having knocked it 16% lower against the pound and 12% lower against the US dollar from the highs of this spring, investors appear to be rethinking their attitude to the Australian dollar.

      They cannot be doing so because of the current strength of the Australian economy. The latest surveys show manufacturers and service providers continuing to report declining activity, as they have for more than a year. Business confidence is still hovering at the dividing line between optimism and pessimism. Australia's economy, like Britain's, expanded by 0.6% in the three months to end-June but it could be a struggle to achieve similar growth in the current quarter.

      But: Economic activity in China is picking up again and the Reserve Bank of Australia looks less likely to take interest rates lower. Both of these factors are important to the way investors see the Aussie. China is Australia's biggest customer, buying iron ore and coal on a grand scale. The global financial crisis and recession dampened China's appetite for Australia's commodity exports but now it seems to be on the rise again. Greater demand for Australia's exports means greater demand for its currency.

      Partly as a result of that improved outlook, the Reserve Bank of Australia is seen as less keen to lower its official interest rate. In the last 12 months the RBA's benchmark Cash Rate went down from 3.5% to 2.5%. The lower return, together with the threat of more rate cuts in the pipeline, made the Aussie less attractive to investors. Take away that threat though, and the current 2.5% still looks considerably more attractive than the rates of 0.5% or less that are attached to the pound, the euro, the Swiss franc and the US dollar.

      On the basis of just a couple of week's performance it would be rash to conclude that the Australian dollar's retreat is over, let alone to predict a new strengthening trend. However, anyone needing to buy Australian dollars might want to take advantage of today's prices while they are still there to be had.

      Even if the Aussie were to continue to weaken, they would still have bought their dollars at close to the cheapest price in three years.

    8. #88

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      My house sale completes in just over 3 weeks. Knowing my luck, there will be a massive retrace and I'll get about $1.50 to the pound!
      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

    9. #89

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      Quote Originally Posted by guspjmh View Post
      My house sale completes in just over 3 weeks. Knowing my luck, there will be a massive retrace and I'll get about $1.50 to the pound!
      You must be getting excited now!

    10. #90

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      Quote Originally Posted by vikkiann View Post
      You must be getting excited now!

      We aren't moving out until January - one more Christmas with family & friends before the big move! I am excited though; spend half my time on the internet researching boats and thinking about the fun we'll have with it! I should really be concentrating on more pressing matters...
      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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