This report looks at the cost of exchanging Australian Dollars and the start of Dr Phillip Lowes term as Governor of the Reserve Bank of Australia.
Yesterday, Dr Phillip Lowe started a new campaign as governor of the Reserve Bank of Australia. Clients with Australian Dollars should be watching the start of his campaign closely, as it has already been revealed that the inflation target has been loosened meaning that further rate cuts this year are off the cards. After the RBA minutes were released last night, the reason to not cut rates any further from historic lows of 1.5% was attributed to sufficient growth within the Australian economy to reach its inflation target.
Clients looking at buying Australian Dollars may have been watching to see if further rate cuts would present further opportunities, with no further rate cuts planned get in touch with currencies.co.uk to find out what other economic data could benefit you and how to time your trade.
Data released last night has shown a decline in the housing prices in Australia, which over the past year have been in decline, with the number of auctions for housing decreasing and the amount credit for new houses also slowing.
This week is set to be a busy week for any clients with Australian Dollars. Tomorrow, the Mid Year economic and fiscal outlook will be released which will provide further insight into the current position of the Australian economy, then followed by the US interest rate decision. I believe that the US interest rate decision is the event that could cause most volatility on the markets for any clients with AUD. As a commodity currency, it is perceived as a riskier investment by investors and could therefore lose value in the run up to the US interest rate decision. Investors are likely to move their funds out of the Dollar temporarily in the build up to the US interest rate decision which could cause temporary Australian Dollar weakness. In order to find out ways to protect yourself from these losses, get in touch with us today.
Thank you for reading my Australian Dollar currency update. If you have any questions about AUD exchange rates I would be happy to discuss them – you can contact me with any queries at firstname.lastname@example.org.
First class foreign currency provider, great rates and outstanding customer service.
Great service very professional but with a personal touch. Everything went smoothly with no fuss. Would highly recommend.
It was really refreshing to go through a process that had absolutely no hiccups at all, the service that we were offered exceeded our expectations. We would unreservedly recommend the company to anyone seeking to exchange currency.
Very efficient service. I’ve never used a service like this before & was purchasing a house in France. It was all explained very well & I was kept informed all along the process. Putting a deposit down to pre-book the rate also saved us a fortune.