I reckon it can go above 72 USc , if Obama add. rescue plans starts injecting more funds into US Financial insitutions
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I reckon it can go above 72 USc , if Obama add. rescue plans starts injecting more funds into US Financial insitutions
Too late, we're back to 69. :(Quote:
Originally Posted by Golden Phoenix
It could be worse...Quote:
Originally Posted by Adzma
I remember it being around 47-49 cents sometime around the 90's
It's true that it could be worse but that doesn't mean I have to like our current situation. *Howls at the moon* 98 US cents...
I doubt the dollar can sustain heights above 70c. There's still a lot of bad news ahead and any turn around would be optimistic at best. One of the other problems is that the solution being touted by the US is a mere derivative of a policy already floated last year by the old administration. The irony of that is if nobody gave it much credibility last time, why now? Some questions that really need to be answered there.
Secondly, there's a large interest rate differential at the moment between Australia and other countries which is virtually zero. The forwards market is factoring in rate cuts already in Australia. The only reason our interest rates didn't go down last time was b/c the Reserve Bank, wisely I might add, thought it'd be best to hold back interest rates b/c if it exhausted all of its monetary polcy options early, it wouldn't have anything to fall back onto.
So yeah, I don't think its sustainable. Unless of course, the US is already on its comeback which a few prominent US investors are suggesting. Personally, I think they're over optimisitic. There's still questions about a lot of fair value valuations on balance sheets as well. If there are write downs, again, not a good sign.
I think the Australian dollar could sustain around 70-something USc but not much more than that.
Well I certainly expect we won't be at 90 US cents for quite a few years from now. :(
Well, well, well, 0.7142 USD tonight. Very interesting. Sustainable I still think not.
I was at a Societe Generale lunch today and the suggestion, which I agreed with, is that the Australian dollars appreciation is not sustainable. And if it is, that raises larger problems in the domestic economy b/c of our trade flows
I think its simple.
World economy not good = AUD not good
World economy good = AUD good
This sudden rise in AUD is going to be short lived.
72 cents. Whoo.
Just wanted to share that as part of the work I do for my company, we project that the AUD will close in on 80c within the third quarter of this year. It's our expectation is that levels of risk aversion should increase and coupled with interest rate differentials as well as an anticipated Asian-led recovery this will spike demand for our resources and hence reinforce the underlying strength of the AUD. Talking with contacts from other large firms, there seems to be a lot of agreement that north is the direction for the AUD.
So we're expecting good times ahead O/S buying so perhaps if you have that large acquisition you want O/S wait till about September/October.
'Course, don't take my word for it. Analysts didn't predict the Financial Crisis, so they're not always right but still figured that I'd share some insight/reasoning that I've been coming across.
and i was thinking of buing a car round about then... maybe i should just buy a POS and get a fort max.....hmm decisions decisions :PQuote:
Originally Posted by STL
We're up to about 75 yen to the dollar.
76cents. Whoo. :)
Should be more like $2 though with the us bankrupt.
I still wonder how a country that's tanked and being gutted of some of its largest manufacturing is still so strong.....
It almost made it to 77 too...
They are essentially in debt to themselves arn't they?
But it's still about demand and supply and quite frankly the demand for the AUD has never been as strong as the demand for the US. And unless we have a population explosion it never will.Quote:
Originally Posted by MV75
Realistically, the only way the AUD appreciates is on the back of commodities and trade flows, not on its inherent strength or the relative weakness of another economy.
The current exchange rate is a bit too early and too high in my estimation. I suspect that it should drop back down to low-mid 70s and maintaining that level for some time. We're still expecting interest rates to bottom out at some point and it doesn't appear they have. Not to mention the budget should prove very interesting too as to where the economy sits in the coming year and the years thereafter.
Just saw today that our dollar is now buying 80 US cents. Lets keep our fingers crossed that it goes even higher. :)
If it reaches the levels of last year, I may go crazy buying the rest of what I need to complete G1.
The only heavy hitter in terms of cost that I have left to get is Monstructor while a medium one is Computron.
Wasn't there talk of parity at one stage? In any case, I might think about loading up on USD once again.
:( I bought a whole bunch of yen a few weeks back because 71 yen was looking good (and for then it was quite good too)...now it's up to almost 80. Boy does my timing suck.
Last night I was watching the financial news on the TV in the post-natal ward with a friend who'd come to visit - and they said that the AUD was up to 0.82USD. We both threw our hands in the air and cheered! :D Here's hoping it stays that way when Encore Bruticus comes out <touch wood> <cross fingers>
It was almost at 83c yesterday and now it's dropped back down to just over 80 :(
From 80 to 77 Yen too :( :(
What happened? And I hope it doesnt continue to slide again.
Swine flu!! :D
*&^#!! I should have paid yesterday...Quote:
Originally Posted by Tober
paypals rate is a day behind isnt it?Quote:
Originally Posted by jgon2098
Paypal rate are not as per "official" exchange rates, they are 2 cents lower.. Ive learned that when I paid for certain stuff and checked on the Am shows for the rate. They always have 2 cents lower for some shitty reason.:(:confused::mad:Quote:
Originally Posted by blackie
That's how you pay their fees for using their services.Quote:
Originally Posted by liegeprime
No one uses official rates. Everyone marks it up. PayPal's markup is 2.5%.
Hrrrmph just like the banks... always with hidden charges:mad::(Quote:
Originally Posted by jaydisc
Over 80, just as we are all leaving the US and coming home! Sigh!Quote:
Originally Posted by Tober
Hey with all this chatter about global economies and currency conversion rates, anyone here an economics expert? I don't know too much about it so I don't get too involved. My simple equation is - wait for stability NOT try to buy in times of volatility if I'm looking for a sharp change in exchange rates. Better yet, wait for the odd sale in K-mart. lol
No currency exchange medium will use the official rate, or else how are they to make any money for their service. Some charge a fee, but all would charge a few percent in their favour to make sure they cover any immediate rate changes.Quote:
Originally Posted by liegeprime
It's just up to the consumer to shop around for the best conversion rate, if you have a choice.
The "official" rate which you'll find on websites/TV news, etc, will usually represent the midpoint of the buy/sell rates. If you were to head to a bureau-de-change and look at these two rates, the market rate quoted by a website will be more or less in between them.
The reasons that the rates aren't the same:
1) Profit (obviously).
2) In the case of cash traders, to cover _themselves_ against the fact the rates can move against them by the time they get that cash exchanged into their local currency/bank account. Which is why you'll usually find Visa/Telegraphic Transfer rates are closer to the market rate than the cash rate - because they don't need to worry about that extra premium since there isn't the lag in getting the cash out of their hands while the market keeps moving around. The Visa/TT transactions see your bank or PayPal (or whoever) dip into the market in real time to buy the currency electronically.
Watchout, the Australian Dollar has dropped dramatically in just a couple of days. from .92 it is now .88 and falling
Glad I made my last Ebay purchase for the year a couple of days ago. It's a shame Animated Arcee isn't up for pre-order yet... it could get quite expensive and scalpers will be taking advantage of the low Aussie dollar.
Looks like they already areQuote:
Originally Posted by 5FDP
http://cgi.ebay.com.au/Transformers-...item33587bf557