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AUD vs. NZD - need help

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shadow123

Joined
30 January 2008
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G'day ASF members.

Im looking at shifting over 250K from NZ to AUS
my problem being - when is the right time to move over?
At the current looking the AUD is powerhousing over the NZD
is that looking to improve over the next 3 weeks?

Since the high of the NZD a few months ago ive lost 22K if i shift now.
Problem being i need to get the $ over here in the next 4 weeks.
If anyone could please give me some insight into what they
believe is going to happen that would be much appreciated as
i know ZERO about forex and even a slight improvement would
save me thousands.

Any info would be much appreciated.
 
Re: AUD vs NZD - need help


Hi,

Attached chart shows two quick things that come to mind when i look at the chart, at work so can't be to detailed. not saying they will happen exactly to the lines but close to it. untill the trend line is broken I am not calling bearish 100%. even though the price action is starting to really bunch up and distribute. sorry to say it's a hard call right to say its going to drop or continue up need a tab more time. for me.........
 

Attachments

  • Spot FX AUD_NZD (-).png
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Re: AUD vs NZD - need help

Thanks for the insight champ.
It's a hard choice to make when to shift ...
 
Re: AUD vs NZD - need help

I don't know whether this is still worth considering, but when I moved from NZ to Australia (15 years ago) I was able to negotiate an offmarket exchange rate with the bank. Approached all the banks and asked what they would offer for the fairly large amount. They were surprisingly competitive and the transfer was achieved at a rate much better than the market at the time.
 
Re: AUD vs NZD - need help

^ they probably gave you the interbank rates which are the ones us FX traders are dealing with.

Retail money changers (travelex and most banks etc) have spreads which are well over 100 pips - if you go to a bank with $250,000NZD and they give you a retail (spread is 20 pips or more) rate - tell them to shuv it up their arsch.

over 100,000 of real cash is interbank-level transaction size so they should do that.

Ask them for a spread quote, not just the ask (AUD/NZD) price.
 
Re: AUD vs NZD - need help

Thanks a lot guys , still trying to figure out how to do all this.
All the help is very appreciated.

Banks will probably try to screw me over to get more

 
Re: AUD vs NZD - need help


I move $NZ40-80k from NZ to Australia every couple of months.

I use http://ozforex.com to do this.

My NZ westpac bank manager saw that I was making regular transaction through a FX broker rather than his bank. I Gave him the opportunity to beat the ozforex rate.. He didn't get close.. about 50pips away.

Never had a problem with them in years. They are 50% owned by Macquarie Bank so they a "reputable"

First post on this site and I'm spruking a supplier. To clarify... other than being a happy customer I have no other involvement with them.
 
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