John From Moneycorp

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About John From Moneycorp

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  1. The Pound vs Australian dollar

    Positive news out of Australia has helped the AU Dollar. Australia’s unemployment rate falls to four-year low of 5.5%
  2. The Pound vs Australian dollar

    A couple of weeks ago the media were speculating that the Bank of England governor's talk of higher interest rates was explicitly intended to prop up the pound. Yesterday's events may or may not have disabused them of that notion. Mark Carney talked sterling down. The governor probably did not set out to turn investors against the pound. He did, however, fail to give them what they were looking for; a direct steer towards an interest rate increase next month. So they were left wondering if he had indeed been bluffing, using the threat of a rate hike to send the pound higher so as to avoid actually having to deliver one. Mark Carney did reiterate his earlier comment that a rate increase might be appropriate "in the coming months" but that cab left the rank a while ago. Investors were underwhelmed and they demonstrated it by marking the pound down across the board - sterling was down by an average of -0.4%.
  3. The Pound vs Australian dollar

    U.K. Shows ‘Mixed Picture’ as Output Rises, Trade Deficit Widens https://www.bloomberg.com/news/articles/2017-10-10/u-k-shows-mixed-picture-as-output-rises-trade-deficit-widens
  4. The Pound vs Australian dollar

    The pound has faced pressure this week, as media outlets have reported that the Prime Minister could face a leadership rebellion. According to newspapers, it is reported that up to 30 Conservative lawmakers are prepared to sign a letter calling for Theresa May to resign.
  5. The Pound vs Australian dollar

    Yesterday, the Bank of England continued to be supportive of sterling. Chief economist Andy Haldane told a TV interviewer that the Monetary Policy Committee is "nearing the point" where it will increase interest rates. He argued that "rather than being a source of fear or trepidation, this ought to be a good news story". The pound strengthened by an average of 0.2%. The coming two days bring speaking appearances by central bankers from Japan, Britain, Euroland, Australia and the United States. Recent experience suggests that their observations will have more impact on exchange rates than the growth and inflation data which also feature on the agenda.
  6. The Pound vs Australian dollar

    Big movement in the GBP/AUD exchange rate this week. Reasons why? Reserve Bank of Australia suggested they would not raise rates for some time in Australia. North Korea/USA situation – tensions further raised creating risk off reaction which is negative for the Australian dollar. UK – positive borrowing figures, lowest since the financial crisis – helped the pound.
  7. The Pound vs Australian dollar

    Higher than expected inflation figures for August lead to a rise in the value of the pound today.
  8. The Pound vs Australian dollar

    At the start of this week, the Pound is slightly stronger - on Friday, there was positive economic data which helped provide some confidence in the UK economy.
  9. The Pound vs Australian dollar

    The Australian dollar had a strong week, although it stumbled slightly later on. The strength can largely be attributed to weakness elsewhere, from the US and NZ dollar and the pound. July retail sales data from Australia showed that consumer spending was stalling and the trade surplus was listed at $0.46 billion, the lowest number for three months.
  10. Transfer £'s to $'s 3 years before move??

    Not at all - I was referring to making a currency post in here instead of the GBP/Australian dollar thread - feel free to private message or email me - john.kinghorn@moneycorp.com Thanks
  11. The Pound vs Australian dollar

    The minutes of the Reserve Bank of Australia board meeting revealed nothing new and were guardedly upbeat about the economy. A bizarre political development dampened appetite for the Aussie though. Deputy prime minister Barnaby Joyce was revealed to be a citizen of New Zealand, thereby making him ineligible to sit in parliament. Mr Joyce was born in Australia but, even though he was not aware of it, he is automatically an NZ citizen because his father was a Kiwi. Dual citizens are barred from the Australian parliament and Mr Joyce is the fifth politician in recent weeks to have come under pressure as a result of the rule. His situation is important because prime minister Malcolm Turnbull's coalition government has a majority of just one. The Australian dollar was unchanged on the day against the Loonie, the krone, the euro and the pound.
  12. Transfer £'s to $'s 3 years before move??

    Post in wrong thread.
  13. Transfer £'s to $'s 3 years before move??

    Happy to have a chat to talk through the options, please send me a private message. Thanks John
  14. The Pound vs Australian dollar

    Australian dollar slightly weaker over last day or so. Follows risk aversion after tensions were raised again between the US and North Korea.
  15. Buying property in Australia By John Kinghorn from moneycorp If you’re looking to buy property in Australia, one of your first steps should be to enlist a foreign exchange specialist. This will get some of the administration out of the way early and ensure that deposits can be paid as required. This is particularly important in Australia because once you’ve had an offer accepted; you will need to pay a 10% holding deposit immediately. It can take time to set up a currency exchange account because, like any financial application, it requires rigorous checks, so it’s best to start the ball rolling as soon as you start to look for a property in earnest. This isn’t the only paperwork you need to complete. If you aren’t an Australian citizen, or permanent resident, you will need to gain permission from the Foreign Investment Review Board (FIRB) before you can purchase a property. You should get an answer within 40 days in most circumstances and although you can exchange contracts prior to approval, it would be wise to ensure the contract is conditional on receipt of that approval to ensure you are not in breach of contract and liable for any financial penalties. If you buy a new-build property or a rural home, you may not need to permission from FIRB, but the best approach is to seek advice from a solicitor on whether this is required. Once you’ve got through that red tape, you can move ahead with your purchase. Even if you have a local bank account and mortgage, the average minimum deposit required is 20% in Australia, so there may be a need to release some equity or repatriate funds from the UK. This is where a foreign exchange specialist can help. Moneycorp has an expert team on hand to offer guidance on the best value products for everything from regular and scheduled payments to one-off purchases and has a fully functional online platform and mobile app which allows you to buy and sell currency, access great rates and schedule and track payments. Many of our customers set up a regular payment plan to transfer funds to an overseas bank account. This may be to fulfil scheduled costs or to provide regular income to your Australian account such as a pension payment or income from renting out a property. Funds can be collected using a direct debit, converted to Australian dollars and delivered to your local account. To provide peace of mind, there are options to specify the amount of funds outgoing in sterling, or incoming in Australian dollars, or both if you choose to use a forward contract and lock in an agreed rate. Alternatively, you can trade with the market. This means that the amount being sent or received may vary depending on the rates, but this approach may prove to be beneficial for those willing to take a risk on market performance when the fluctuations are aggregated over the course of a year. There are a number of ways to move your money across borders; to make the most of your funds, it’s best to plan ahead and work with a specialist who can put the right tools at your disposal. Poms in Oz & moneycorp Poms in Oz work with moneycorp who are a leading money transfer company. Benefit from great exchange rates when using them plus, as a special offer, all transfer fees are waived for forum members. You can register for a free moneycorp account by clicking here. Once registered, you will have a personal Account Manager who can provide quotes and discuss the latest movements on the exchange rates. Or email currency expert John Kinghorn – john.kinghorn@moneycorp.com Established in 1979, moneycorp is one of the largest and fastest-growing players in the foreign exchange and international payments market. TTT Moneycorp Pty Limited, Authorised Representative No. 445555 ABN 46 116 612 858, are Authorised Representatives of Rochford Capital Pty Ltd (AFSL License No. 361276 ABN 40 143 601 594) Jones Bay Wharf, Suite 45, 26-32 Pirrama Road, Pyrmont, NSW 2009.