Understanding the AUD's Slide: Key Factors and Market Sentiments.

The AUD has been knocked to the canvas this week!

Author

Chris Broadfoot
July 26, 2024

 

💱 Currency update from SportsFX

The Australian Dollar (AUD) has experienced a significant decline against most major currencies, driven by weak market sentiment, disappointing Chinese economic data, and an overall risk-off mood among investors.

Over the past nine trading days, the AUD/USD pair has seen continuous declines, with the potential for further depreciation if current trends persist.

Read the full article here ⤵️ 

The Australian Dollar's Downward Spiral Amid Global Market Volatility.

The Australian Dollar (AUD) has experienced a significant decline against most major currencies, driven by weak market sentiment, disappointing Chinese economic data, and an overall risk-off mood among investors.

www.sportsfx.com.au/post/the-australian-dollar-s-downward-spiral-amid-global-market-volatility

The AUD has seen some big falls this week, and in addition to recent declines over the past few weeks, the AUD sits at the following lows this morning:

  • AUD/USD - 0.6537 - down 2.2% this week, adding to the 1.5% fall last week.

  • AUD/EUR - 0.6027 - down 1.9% this week, adding to the 1.2% fall last week.

  • AUD/GBP - 0.5085 - down 1.8% this week, adding to the 1% fall last week.

  • AUD/JPY - 100.62 - down 4.5% this week, adding to a 1.7% fall last week, and another 1.3% the week before.

  • AUD/NZD - No movement this week, however, it has seen an increase for 4 weeks in a row reaching 1.11

What does this mean for you?

➡️ If you're an overseas athlete or business earning a foreign currency, eg: USD, GBP, or EUR then it's a very good time to take advantage of the weaker Australian dollar and move some money home.

➡️ If you're earning Australian Dollars and need to send them from Australia, then potentially holding off for a couple of weeks might be a worthwhile idea to see what unfolds after this very volatile week.

If you want to discuss this in further detail, please book a call with me below ⤵️

This week, since we have had a large number of new subscribers, we’ve collated some of our most popular articles over the past few months, please see below:

To Become a Pro Athlete, You NEED These!

What does being a professional athlete look like?To most people, it looks like what you would normally see on TV: highlight reels, the thrill of play-offs, and the glory of lifting trophies. But two crucial fundamentals can get easily overlooked.Motivation, and routine.

www.sportsfx.com.au/post/to-become-a-pro-athlete-you-need-these

Chasing my sporting dream in the USA

The below post is written by Gio Mellos, an Australian Footballer who has spent 5 months chasing his dream in the USA. I want to thank him for sharing his experiences, what a legend! I live my life by a famous Japanese proverb:“Nana korobi ya oki”“Fall down seven times, get up eight”Last year, I made the toughest decision of my life.I chose to leave everything behind back home - My job, my family, friends I had met over the years,All sense of security - And push for my dreams in the land of the

www.sportsfx.com.au/post/why-not-getting-signed-was-the-best-thing-for-my-career

From Clocking In to Signing Big: Leveraging Part-Time Work on the Path to Pro!

Dive into this resource, a roadmap on managing the balance between work, training, and chasing your dreams with optimism and determination!

www.sportsfx.com.au/post/from-clocking-in-to-signing-big-leveraging-part-time-work-on-the-path-to-pro

🎙️ If you would prefer to listen to some of the recent Podcast Episodes, please check them out here ⬇️ 

The Overseas Athlete • A podcast on Spotify for Podcasters

The Overseas Athlete Podcast is a platform dedicated to providing valuable insights and advice to professionals in the sports industry who compete on the global stage. Hosted by Chris Broadfoot, an ex-professional footballer and founder of SportsFX, it offers a wealth of information from both players and industry experts on various crucial matters, including challenges when travelling overseas, agents, nutrition, taxation, accounting, foreign exchange social media, sponsorship, and endorsements for athletes that compete globally.

podcasters.spotify.com/pod/show/theoverseasathlete

By sharing this newsletter with fellow athletes, coaches, agents, and anyone navigating the unique landscape of international competition, you're not just spreading information but fostering a community of support and empowerment. Together, we can amplify voices, share experiences, and provide invaluable insights to those who may benefit from the wisdom and guidance within.