close menu

Up and away for the AUD

by 1st Contact | Apr 14, 2016
  • The AUD built on the gains made against the Pound from previous weeks. Traders needing to buy GBP on 14 April would have done so at a year high rate of 0.541. This represents a gain of close to 20% from the year low in early September.
    Up and away for AUD

    A number of analyst’s attributed the continued weakening of the GBP to ongoing uncertainty around the upcoming “Brexit” decision. News that the UK’s budget deficit was larger than expected, combined with the UK inflation rate hitting a 15 month high, also put downward pressure on the GBP.

    The Aussie Dollar was range-bound against the USD last week. Traders buying American Dollars on 13 April got the best of the market with the exchange reaching a weekly high of AUD – USD 0.771. This was up considerably from a low of 0.749 earlier in the week.

    When explaining the AUD strength, analysts cited stronger than expected economic data releases this week across a number of key Australian sectors. This comes despite the ongoing weakening of the Australian mining industry and weaker than expected Chinese Consumer Price Index announcement.

    The nascent turnaround in commodity prices could result in many re-evaluating their position that the AUD is set to decline in the near future. Higher commodity prices, if sustained, would result in growth for the Australian economy which would lead to a stronger AUD.

    – Jason Chown

    To transfer money in or out of Australia, for business or personal reasons, email Jason or give us a call on either +61 (1) 800 039 300 (Aus) or +61 (3) 8651 4500 (Intl). For more information, you can visit the 1st Contact Forex website.

    We are a professional services company that specialises in cross-border financial and immigration advice and solutions.

    Our teams in the UK, South Africa and Australia can ensure that when you decide to move overseas, invest offshore or expand your business internationally, you’ll do so with the backing of experienced local experts.

    • Cross-border payments
      How to make cross-border business payments and collections simpler, cheaper and faster
      Aug 23, 2019  |  by Calvin Matsaure
    • Boris Johnson portrait
      How Boris Johnson’s election has caused trouble for the Pound
      Jul 31, 2019  |  by Sable International
    • Arrow and man sliding down
      Why the Rand is tanking
      Jun 10, 2019  |  by Sable International
    • Currency Solved
      Introducing a better way to pay and get paid: Currency Solved
      May 17, 2019  |  by Anton Van Teylingen
    • forex partner program
      Earn passive income with our Partner Programme
      May 09, 2019  |  by Anton Van Teylingen
    • Businessman-balancing
      Brexit: How to protect against currency fluctuations
      Mar 13, 2019  |  by Anton Van Teylingen
    • Rand-pound-sterling
      Britain - a good time to invest? Make use of your 2018 investment allowance
      Nov 14, 2018  |  by Andrew Rissik
    • trust-handshake
      But, do you know your forex broker’s name?
      Oct 10, 2018  |  by Saskia Johnston
    • risk-ahead-sign
      Increase your business’s bottom line with currency hedging
      Jun 06, 2018  |  by Calvin Matsaure
    • dollar-euro-birdcage
      Is your forex broker saving or costing you money?
      May 15, 2018  |  by Tim Smith
     
     

    South Africa

    Cape Town

    Regent Square
    Doncaster Road
    Kenilworth 7708 +27 (0) 21 657 2120

    Durban

    25 Richefond Circle
    Ridgeside
    Umhlanga 4320 +27 (0) 31 536 8843

    United Kingdom

    Croydon

    One Croydon
    12-16 Addiscombe Road
    Croydon CR0 0XT +44 (0) 20 7759 7514

    Australia

    Melbourne

    9 Yarra Street
    South Yarra
    VIC 3141 +613 (0) 8651 4500

    Sable International is a trading name of 1st Contact Money Limited (company number 07070528), registered in England and Wales. We are authorised and regulated by the Financial Conduct Authority in the UK (FCA no. 517570), the Financial Services Conduct Authority in South Africa (1st Contact Money [PTY] Ltd - FSP no. 41900) and hold an Australian Financial Services Licence issued by ASIC to deal in foreign exchange (1st Contact Group - AFS Licence number 335 126).

    We use cookies to provide the best website experience for you. Using this website means that you agree to this. How we use cookies.