Help me predict where the Australian dollar will be in a month

[timmothy]

I know there are a lot of knowledgeable people on here and thought they would be able to predict it better than me.

I am off to Australia on a working holiday and want to transfer a few thousand pounds to my Australian bank account I have opened. Thing is it seems to be up and down with a high just before Christmas. I know it's not a lot but I have spent a long time saving this cash and want to make the most of it.

So do you think it will go down before March or will it go up?

Thanks GD

 

[yer_averagejoe]

I'd say 50% chance up on GBP, 50% chance down.

 

[kindai]

Id imagine its going to pretty much stay where it is.

 

[rodenal]

It's not particularly volatile and certainly unlikely to move so much that you'll gain or lose much from a few £k

 

[Tom0]

In Australia.

 

[Tosno]

0.3% up

 

[[FnG]magnolia]

There's been negligible change over the last month (0.5 to approximately 0.48) and I'd imagine there's a low risk that anything material will happen, particularly in regard to such a small value and the impact of any change.

Try not to worry too much about exchange rates, there's little benefit to be had. If the rate is right at the time then do it and don't fixate on it.

 

[Amp34]

China (or the UK) releasing any financial/GDP related figures any time soon?

That said, just transfer it whenever. It will undoubtedly be the lowest point in months when you do.

 

[russell664]

The exchange rate is always in fluctuation, as Magnolia has said, find the best time to do it, and don't focus on it too much.

 

[Nix]

A few thousand? You're hardly going to lose vast sums at worst are you?

 

[Efour]

In Australia.

Spot on

 

[Hades]

I confidently predict that $1 AUS will be worth exactly $1 AUS in a months time.

 

[Caged]

How on earth can anyone reliably answer this? But to unhelpfully answer your question, wait until I have converted some cash to AUD and then about three days later it will drop.

 

[StriderX]

Probably weaker, as China will continue to overstate it's growth.

 

[jon86]

Australia seems to be pretty reliant upon China for its minerals and such right now, so I can imagine that continued bad news from China will continue to depress the Australian currency somewhat.

Oh, and

In Australia.

 

[Cosimo]

How long is a piece of string... Toss a coin and decision made.

 

[Jacksonn]

With a few k your not trading the stock market its probably a few quid either way.

 

[Nitefly]

So do you think it will go down before March or will it go up?

Clearly it's going down-under.

 

[Skeeter]

I predict most of them will be in Australia

 

[kinobestew123]

Convert half of it now and half of it just before you go.

This way if it gets better you'll be like "phew, glad I kept this half until now" and if it goes worse, you'll be like "phew, glad I converted half of it back in Jan".

It's the perfect hedge.