This AUD report examines the factors that could affect exchange rates in order to help you stay informed if you need to make a Australian Dollar exchange. The table below shows the difference you would have received when exchanging £200,000 at the high compared to the low during the last month.
|Currency Pair||% Change||Difference on £200,000|
GBPAUD rates remain incredibility changeable recently. GBPAUD rates still sit up by almost 3% over the last 30 days and a whopping 7.8% over the last 3 months. A large majority of this gain has come from Australian weakness as their export led economy becomes increasingly at risk from the Trump effect. President Trump introduced a trade tax with their closest neighbour Canada with regards to the exports of their timber and the market is becoming increasingly wary that this could well be replicated onto other partner nations.
There are also a number of domestic issues and risks within Australia which in turn has put the Australian Dollar under risk. Along with a domestic property bubble that can be mirrored across most Western countries their jobless market is also a worry for investors. Unemployment rates fell to a four-month low in April, however it is the number of full time jobs that remains at risk. Their latest jobless figures showed that they added 37,400 jobs in April however the number in full time employment fell by 11,600 and the number in part time employment surged by a further 49,000. Both Credit Suisse and the Commonwealth Bank of Australia have raised concerns about the jobless market in Australia.
This concern about the jobless market in Australia has pushed economists to suggest that the Reserve bank of Australia may well have to cut interest rates through the course of 2017. The assistant governor of the RBA is specking this evening and is a topic which will no doubt be covered. As a result, clients looking at buying the AUD may find themselves with better levels after this event, AUD sellers may well wish to move today in an effort to avoid this risk.
For more information on how future data releases could affect your AUD currency exchange, call our trading floor on 01494 725 353 or email me here.
The information on this web site is provided free of charge for information purposes only. It does not constitute advice to any person on any matter. Foreign Currency Direct plc. ("FCD") makes every reasonable effort to ensure that this information is accurate and complete but assumes no responsibility for and gives no warranty with regard to the same.
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