Australian Dollar Rate Outlook
Moody's says that its industry outlook for banking systems in Australia and New Zealand is negative, reflecting the impact of the slowdowns in global and domestic economies, but both
systems also remain robust.
These headlines helped keep New Zealand Dollars and Australian Dollars exchange rate trading near the lows overnight, and on the open in London we've sold Australian Dollars for real money names. However the dip in New Zealand Dollars rate has seen some good exporter demand as resting bids are finally filled.
Pounds to Australian Dollars = 2.0800
Euros To Australian Dollars = 1.7700
Australian Dollars to US Dollars = 0.7826
Australian Dollars to New Zealand Dollars = 1.2450
Bye For Now
IMS Foreign Exchange
Buying Australian Dollars? Buy Australian Dollars at the Best Australian Dollar Rates!
Contact IMS Foreign Exchange + 44 207 183 2790
Monday, June 22, 2009
Friday, May 22, 2009
Australian Dollar fall was due to hedge funds
Australian Dollar Rate Outlook
The precipitous fall in the Australian dollar was increasingly driven by the whims of financial market players, such as hedge funds, while "real" economic developments played a diminishing role, The Sydney Morning Herald reports citing the Reserve Bank of Australia. The plunging Australian dollar shocked markets last year when it toppled from within a whisker of $1.00 to almost 60 US cents, a move which few analysts had predicted. In new research, the RBA says that fund managers' balance sheet adjustments and their use of the dollar as a proxy for emerging markets have exacerbated the dollar's slump, the report says.
Pounds to Australian Dollars = 2.0300
Euros To Australian Dollars = 1.7800
Australian Dollars to US Dollars = 0.7800
Australian Dollars to New Zealand Dollars = 1.2690
Bye For Now
IMS Foreign Exchange
Buying Australian Dollars? Buy Australian Dollars at the Best Australian Dollar Rates!
Contact IMS Foreign Exchange + 44 207 183 2790
The precipitous fall in the Australian dollar was increasingly driven by the whims of financial market players, such as hedge funds, while "real" economic developments played a diminishing role, The Sydney Morning Herald reports citing the Reserve Bank of Australia. The plunging Australian dollar shocked markets last year when it toppled from within a whisker of $1.00 to almost 60 US cents, a move which few analysts had predicted. In new research, the RBA says that fund managers' balance sheet adjustments and their use of the dollar as a proxy for emerging markets have exacerbated the dollar's slump, the report says.
Pounds to Australian Dollars = 2.0300
Euros To Australian Dollars = 1.7800
Australian Dollars to US Dollars = 0.7800
Australian Dollars to New Zealand Dollars = 1.2690
Bye For Now
IMS Foreign Exchange
Buying Australian Dollars? Buy Australian Dollars at the Best Australian Dollar Rates!
Contact IMS Foreign Exchange + 44 207 183 2790
Wednesday, March 25, 2009
Australian Dollar Exchange Rate Outlook is Higher
Australian Dollar Rate Outlook
Some of the Foreign Exchange charts are peculiar. We understand the US dollar Swiss franc chart is strange because of the carry trade/safe-haven/intervention stories. But look at the Australian Dollar chart. When we draw a channel from the lowest low in November, what we get is a horizontal, flat channel, not a rising one. Of course we can draw a channel in a shorter time frame and get an upmove, but in the Big-Picture, we do not get a true rising trend. This could imply that some foreign exchange traders are buying "commodity currencies" on a bet that US recovery will boost demand, but they are not really committed to the global recovery scenario just yet. Given the relatively high yield in the Australian Dollar, we think it should be higher….
Since it's not, traders are not yet convinced the recession bottom is in.
The flat AUD makes us suspect the euros to US dollars uptrend. Maybe it’s just a "move" and not a trend. The euro/yen is rising without pause or correction, so have to wonder if the euro exchange rate is strong mostly because the yen is weak. Today is "pullback Tuesday" and we are getting the usual profit-taking after a big move the week before, but we also wonder if the pullback could take on a life of its own. As foreign exchange traders, we must jump on every bandwagon and seeming breakout, but as economic analysts, we need to look at a wider timeframe chart and this time the wider chart is not offering comfort and confirmation.
If you have any questions or want a free quote feel free to call + 44 207 183 2790
Pounds to Australian Dollars = 2.0935
Euros To Australian Dollars = 1.9384
Australian Dollars to US Dollars = 06965
Australian Dollars to New Zealand Dollars = 1.2394
Bye For Now
Barbara Rockefeller
Foreign Exchange Trading
Forex Trading Reports - Click for a free trial down
Buying Australian Dollars? Buy Australian Dollars at the Best Australian Dollar Rates!
Contact IMS Foreign Exchange + 44 207 183 2790
Some of the Foreign Exchange charts are peculiar. We understand the US dollar Swiss franc chart is strange because of the carry trade/safe-haven/intervention stories. But look at the Australian Dollar chart. When we draw a channel from the lowest low in November, what we get is a horizontal, flat channel, not a rising one. Of course we can draw a channel in a shorter time frame and get an upmove, but in the Big-Picture, we do not get a true rising trend. This could imply that some foreign exchange traders are buying "commodity currencies" on a bet that US recovery will boost demand, but they are not really committed to the global recovery scenario just yet. Given the relatively high yield in the Australian Dollar, we think it should be higher….
Since it's not, traders are not yet convinced the recession bottom is in.
The flat AUD makes us suspect the euros to US dollars uptrend. Maybe it’s just a "move" and not a trend. The euro/yen is rising without pause or correction, so have to wonder if the euro exchange rate is strong mostly because the yen is weak. Today is "pullback Tuesday" and we are getting the usual profit-taking after a big move the week before, but we also wonder if the pullback could take on a life of its own. As foreign exchange traders, we must jump on every bandwagon and seeming breakout, but as economic analysts, we need to look at a wider timeframe chart and this time the wider chart is not offering comfort and confirmation.
If you have any questions or want a free quote feel free to call + 44 207 183 2790
Pounds to Australian Dollars = 2.0935
Euros To Australian Dollars = 1.9384
Australian Dollars to US Dollars = 06965
Australian Dollars to New Zealand Dollars = 1.2394
Bye For Now
Barbara Rockefeller
Foreign Exchange Trading
Forex Trading Reports - Click for a free trial down
Buying Australian Dollars? Buy Australian Dollars at the Best Australian Dollar Rates!
Contact IMS Foreign Exchange + 44 207 183 2790
Friday, March 20, 2009
Pounds to Australian Dollars EXchange Rate still heading lower
Hi All,
Seems that our thought that the Australian Economy would continue to outperform the rest of the world has come true (for now) with the Reserve Bank of Australia holding on cut australian interest rates this month and looking to do the same again whilst they see the full effect of the previous stimulus packages. This is very step contrast to here in the UK were the pounds woes keep getting worse and worse as you predicted back in Feburary in our post Australian Dollar Rate Outlook - Australian economy continues to surprise.
We are now at an interesting point is it time to give up on this view or is the pounds to Australian Dollars rate still heading lower. I personally feel that there is limited opportunity for the australian dollar rate to go up as the good news could start coming to an end and as there has been so much bad news from the uk - surely we are due some good?
So for those of you moving to australia look for the opportunity to sell pounds buy australian dollars at 2.1700 or better if you can.
If you have any questions or want a free quote feel free to call + 44 207 183 2790
Pounds to Australian Dollars = 2.0960
Euros To Australian Dollars = 1.9714
Australian Dollars to US Dollars = 06902
Australian Dollars to New Zealand Dollars = 1.2285
Bye For Now
Damian George
IMS Foreign Exchange
Foreign Exchange Trading
Forex Trading Reports - Click for a free trial down
Buying Australian Dollars? Buy Australian Dollars at the Best Australian Dollar Rates!
Contact IMS Foreign Exchange + 44 207 183 2790
Seems that our thought that the Australian Economy would continue to outperform the rest of the world has come true (for now) with the Reserve Bank of Australia holding on cut australian interest rates this month and looking to do the same again whilst they see the full effect of the previous stimulus packages. This is very step contrast to here in the UK were the pounds woes keep getting worse and worse as you predicted back in Feburary in our post Australian Dollar Rate Outlook - Australian economy continues to surprise.
We are now at an interesting point is it time to give up on this view or is the pounds to Australian Dollars rate still heading lower. I personally feel that there is limited opportunity for the australian dollar rate to go up as the good news could start coming to an end and as there has been so much bad news from the uk - surely we are due some good?
So for those of you moving to australia look for the opportunity to sell pounds buy australian dollars at 2.1700 or better if you can.
If you have any questions or want a free quote feel free to call + 44 207 183 2790
Pounds to Australian Dollars = 2.0960
Euros To Australian Dollars = 1.9714
Australian Dollars to US Dollars = 06902
Australian Dollars to New Zealand Dollars = 1.2285
Bye For Now
Damian George
IMS Foreign Exchange
Foreign Exchange Trading
Forex Trading Reports - Click for a free trial down
Buying Australian Dollars? Buy Australian Dollars at the Best Australian Dollar Rates!
Contact IMS Foreign Exchange + 44 207 183 2790
Australian Dollar seen stronger against the Pound, Euro and US Dollar
Australian Dollar Rate Outlook
The Australian Dollar has opened higher for the eighth straight local session as investors continued to sell US dollars in response to the US Federal Reserve decision to start buying US Treasuries.
At 7am AEDT, the Australian dollar rate was trading at $US 0.6860/64, up from yesterday's close of $US0.6746/48. It was the strongest start to the local foreign exchange trading day since January 12 this year, when the unit began at $US0.7028/35. During the overnight offshore session, the unit moved between a low of $US0.6734 and a high of $US0.6943.
The Australian dollar exchange rate rallied through most of the offshore session, with the focus remaining on the US Federal Reserve's intention to purchase long-dated US Treasury securities.
GFT Forex director of currency research Kathy Lien said the dollar advanced on continued US dollar weakness."I think that weakness will extend over the next few weeks and that could lead to further gains in the Aussie dollar and the euro exchange rate," Ms Lien said from New York.
"Even though US equities are lower and bond yields are higher, the clearest ramifications of the Fed's actions yesterday is that they will need to print US dollars."
Full story visit www.news.com.au
Pounds to Australian Dollars = 2.0960
Euros To Australian Dollars = 1.9714
Australian Dollars to US Dollars = 06902
Australian Dollars to New Zealand Dollars = 1.2285
Bye For Now
IMS Foreign Exchange
Foreign Exchange Trading
Forex Trading Reports - Click for a free trial down
Buying Australian Dollars? Buy Australian Dollars at the Best Australian Dollar Rates!
Contact IMS Foreign Exchange + 44 207 183 2790
The Australian Dollar has opened higher for the eighth straight local session as investors continued to sell US dollars in response to the US Federal Reserve decision to start buying US Treasuries.
At 7am AEDT, the Australian dollar rate was trading at $US 0.6860/64, up from yesterday's close of $US0.6746/48. It was the strongest start to the local foreign exchange trading day since January 12 this year, when the unit began at $US0.7028/35. During the overnight offshore session, the unit moved between a low of $US0.6734 and a high of $US0.6943.
The Australian dollar exchange rate rallied through most of the offshore session, with the focus remaining on the US Federal Reserve's intention to purchase long-dated US Treasury securities.
GFT Forex director of currency research Kathy Lien said the dollar advanced on continued US dollar weakness."I think that weakness will extend over the next few weeks and that could lead to further gains in the Aussie dollar and the euro exchange rate," Ms Lien said from New York.
"Even though US equities are lower and bond yields are higher, the clearest ramifications of the Fed's actions yesterday is that they will need to print US dollars."
Full story visit www.news.com.au
Pounds to Australian Dollars = 2.0960
Euros To Australian Dollars = 1.9714
Australian Dollars to US Dollars = 06902
Australian Dollars to New Zealand Dollars = 1.2285
Bye For Now
IMS Foreign Exchange
Foreign Exchange Trading
Forex Trading Reports - Click for a free trial down
Buying Australian Dollars? Buy Australian Dollars at the Best Australian Dollar Rates!
Contact IMS Foreign Exchange + 44 207 183 2790
Wednesday, March 4, 2009
Australia seems to be the odd man out these days - the only major economy not in recession
Australian Dollar Rate Outlook
Australia Dollar seems to be the odd man out these days - the only major economy not in recession and with a central bank that yesterday declined to cut rates because the economy is okay.
Today GDP for Q4 fell 0.5% q/q after rising a feeble 0.1% in Q3, just escaping the formal definition of recession. Q4 was below forecasts of ongoing growth of 0.1% or perhaps 0.2%, so a surprise. On the y/y basis, GDP growth decelerated from 1.9% in Q3 to only 0.3% in Q4. A bank analyst writes that for this year, Australia will probably get a minor contraction of 0.25%. This is actually not too bad and certainly better than Japan, whose GDP contracted over 12% y/y in Q4. And if China comes back with any oomph, exports could be the leader.
The Australian Dollar fell on the surprise GDP news but we wonder if it doesn’t have some serious support. Growth counts. Relative growth counts, too. If the Reserve Bank of Australia can avoid cutting rates, Australia will keep its title of most desired investment currency - relative returns count most of all.
Pounds to Australian Dollars = 2.1700
Euros To Australian Dollars = 1.9400
Australian Dollars to US Dollars = 06500
Australian Dollars to New Zealand Dollars = 1.2832
Bye For Now
Barbara Rockefeller
Australia Dollar seems to be the odd man out these days - the only major economy not in recession and with a central bank that yesterday declined to cut rates because the economy is okay.
Today GDP for Q4 fell 0.5% q/q after rising a feeble 0.1% in Q3, just escaping the formal definition of recession. Q4 was below forecasts of ongoing growth of 0.1% or perhaps 0.2%, so a surprise. On the y/y basis, GDP growth decelerated from 1.9% in Q3 to only 0.3% in Q4. A bank analyst writes that for this year, Australia will probably get a minor contraction of 0.25%. This is actually not too bad and certainly better than Japan, whose GDP contracted over 12% y/y in Q4. And if China comes back with any oomph, exports could be the leader.
The Australian Dollar fell on the surprise GDP news but we wonder if it doesn’t have some serious support. Growth counts. Relative growth counts, too. If the Reserve Bank of Australia can avoid cutting rates, Australia will keep its title of most desired investment currency - relative returns count most of all.
Pounds to Australian Dollars = 2.1700
Euros To Australian Dollars = 1.9400
Australian Dollars to US Dollars = 06500
Australian Dollars to New Zealand Dollars = 1.2832
Bye For Now
Barbara Rockefeller
Tuesday, March 3, 2009
Reserve Bank of Australia left rates unchanged at 3.25%
Australian Dollar Rate Outlook
RBA: The Reserve Bank of Australia left rates unchanged at 3.25% Tuesday call.
Comments from RBA Governor Stevens:
"Demand has not weakened as much as in other countries and, on the basis of currently available information, the Australian economy has not experienced the sort of large contraction seen elsewhere. The Australian financial system remains strong and the monetary policy transmission process is working to deliver large reductions in interest rates to end borrowers. Nonetheless, economic conditions are clearly weak, and given the speed and scale of the global economic deterioration and its effect on confidence, weak conditions are likely to continue in the near term. Inflation is likely to decline over time.... There has already been a major change in both monetary and fiscal policy.... Together with the substantial fiscal initiatives, the cumulative decline in interest rates will provide significant support to domestic demand over the period ahead....The Board will consider the position again at its next meeting"
The Australian Dollar exchange rate was the main winner on the robust nature of Gov Stevens comments and RBA's and desision and was up more than 2% across the board.
Pounds to Australian Dollars = 2.2218
Euros To Australian Dollars = 1.9600
Australian Dollars to US Dollars = 06445
Australian Dollars to New Zealand Dollars = 1.2900
Bye For Now
IMS Foreign Exchange
Foreign Exchange Trading
Forex Trading Reports - Click for a free trial down
Buying Australian Dollars? Buy Australian Dollars at the Best Australian Dollar Rates!
Contact IMS Foreign Exchange + 44 207 183 2790
RBA: The Reserve Bank of Australia left rates unchanged at 3.25% Tuesday call.
Comments from RBA Governor Stevens:
"Demand has not weakened as much as in other countries and, on the basis of currently available information, the Australian economy has not experienced the sort of large contraction seen elsewhere. The Australian financial system remains strong and the monetary policy transmission process is working to deliver large reductions in interest rates to end borrowers. Nonetheless, economic conditions are clearly weak, and given the speed and scale of the global economic deterioration and its effect on confidence, weak conditions are likely to continue in the near term. Inflation is likely to decline over time.... There has already been a major change in both monetary and fiscal policy.... Together with the substantial fiscal initiatives, the cumulative decline in interest rates will provide significant support to domestic demand over the period ahead....The Board will consider the position again at its next meeting"
The Australian Dollar exchange rate was the main winner on the robust nature of Gov Stevens comments and RBA's and desision and was up more than 2% across the board.
Pounds to Australian Dollars = 2.2218
Euros To Australian Dollars = 1.9600
Australian Dollars to US Dollars = 06445
Australian Dollars to New Zealand Dollars = 1.2900
Bye For Now
IMS Foreign Exchange
Foreign Exchange Trading
Forex Trading Reports - Click for a free trial down
Buying Australian Dollars? Buy Australian Dollars at the Best Australian Dollar Rates!
Contact IMS Foreign Exchange + 44 207 183 2790
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