The iron ore price has been recovering lately, and it was the rapid drop in its price was what brought down the AU$ to begin with.
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The iron ore price has been recovering lately, and it was the rapid drop in its price was what brought down the AU$ to begin with.
I'm so happy the JPY has come up recently, I'm heading over there soon and at 80 it's bad especially considering their negative interest rate, but at 85 I am happy because that's what it was when I was there in 2012 and TF prices were very good once converted, I missed out on some great exchange rates since then but that's the way she goes, fingers crossed for 85 or better in the next 5 weeks :D
We moved to Japan recently and transferred a little of our money across... it's depressing watching the rate nosedive, then climb, biting the bullet then watching it climb again! The place we transfer with actually had it over 85 today.
You could say i lost a couple hundred bucks in the last few days but i have to stop thinking like that... buying power here is completely different anyway so it's not really that clear-cut.
Of course i'd prefer more for my AUD though, so with a little in the bank now, I can bide my time longer on transferring more of our savings.
Once the negative interest rates were announced in Japan I thought, yes, here we go the JPY will dive hard, but nothing. Just goes to show that our dollar is pretty friendly with the commodities market. I hope you can make some back as the AUD to JPY hopefully improves. :)Quote:
Originally Posted by kurdt_the_goat
Well, what a big turnaround for the Aussie Dollar in the last two months, having big increases across all five of these currencies since January 12th (the last time I posted the rates).
As of today, according to xe.com, these are the current rates for AU$1...
- US$ - 0.7569 (up 6 cents in two months)
- GB£ - 0.5262 (up 5 pence in two months)
- JP¥ - 86.138 (up 4.5 yen in two months)
- EU€ - 0.6789 (up 4 cents in two months)
- NZ$ - 1.1215 (up 6 cents in two months)
These were the rates on January 12th...
- US$ - 0.6962
- GB£ - 0.4795
- JP¥ - 81.698
- EU€ - 0.6392
- NZ$ - 1.0630
(bank and paypal rates are 2-3% less than the figures above)
The US Federal Reserve has come out today with some weaker forecasts for the US economy, which sent the US Dollar down against other currencies, including ours... giving us a current rate tonight at US 76.28 cents.
Fingers crossed it gains a few more cents before BotCon... obviously for me, but also for anyone else buying Convention toys next month.
As of today, according to xe.com, these are the current rates for AU$1...
- US$ - 0.7773 (up another 2 cents in the last month - that's 8 US cents in three months)
- GB£ - 0.5427 (up 1.5 pence in the last month)
- JP¥ - 84.981 (down 1 yen in the last month)
- EU€ - 0.6855 (up 1 cent in the last month)
- NZ$ - 1.1096 (down 1 cent in the last month)
(bank and paypal rates are 2-3% less than the figures above)
At least I didn't spend much at BotCon this year for it to bother me, but true to form, the AU$ dropped 2 US cents just on the day I got there (Wednesday 6th), and went back up 2 US cents the day after BotCon when I had finished spending. (typical)
Aussie dollar hits above USD 0.87
USD $0.78? :)Quote:
Originally Posted by Megatran
Yep.Quote:
Originally Posted by kovert
I remember last year someone quoted an newspaper article saying the AUD was going to 50c. And I said these are just sensationalist stories to get attention. I bet pretty soon there will be a story saying the AUD is going to 90c or $1.
But unlike the 50c stories I'll be cheering on the dollar all the way to 90c plus!Quote:
Originally Posted by DaptoDog
The aussie dollar is dropping faster against the USD & JP Yen than a poor guy getting kicked in the u know where.
It was expected that we would have a drop after the interest rate cut last week, as it makes it less inviting to invest in our currency if there are other currencies that now have higher returns.Quote:
Originally Posted by Megatran
But the double-whammy was the budget on the same day, driving speculation that there will be more rate cuts as our economy continues to be sluggish amid the unreliable nature of when we will ever return to surplus (which makes foreign investors less confident in investing here or any country that can't foresee the end to their deficits, as it could mean future austerity measures that will negatively impact on businesses and investments).
The annoying thing (for us importers) though, is that the Reserve Bank has been saying for a long time that they would like to see the Aussie Dollar go below 70 US cents so that the benefits our exporters, and make our domestic business more competitive to foreign products.
We were at 78 US cents four weeks ago, and now we are at 72... but I think we can expect it to go further if the Reserve Bank (and Federal deficits) have anything to do with it. :(
AUD slumps thanks to Brexit. :( :(
Once again, nothing to do with us - but we become the forex whipping boy :(
Which just goes to show how stupid the Foreign Exchange system is where the value of currencies are based more on what people reckon currencies are worth (speculation) instead of what they're actually worth (economic status/performance). Mind you, it does work in our favour when the AUD is over-valued. :p But times like this when it's being grossly under-valued totally sucks. :(
With that title I was expecting to see the AU$ plunging to the 60s, but we only dropped 3 US cents, and back up 1.5 cents within hours, to be above what we were just days ago.
It's actually been a bigger rollercoaster ride in the two months before the brexit...
18/4 - 78.05 US cents (the highest peak since 25th May 2015)
30/5 - 71.59 US cents (the lowest point since that peak in April, after 6 weeks of gradual sliding)
21/6 - 75.11 US cents (a peak after 3 weeks of rises)
22/6 - 74.43 US cents (a small dip before a big rise of 2 cents in the next two days)
23/6 - 76.40 US cents (the most recent peak)
24/6 - 73.26 US cents (after the brexit result)
25/6 - 74.77 US cents (the current rate as of this posting)
So it might look like a big sudden drop on the currency graph yesterday, but we are actually up on the 22nd (or the 20th if you take into account the previous peak), and are over 3 cents up on our lowest point four weeks ago.
The rush of money to the "safe" stock of gold will help offset most of the money being pulled out of our currency by investors, because we export a lot of gold.
I don't think the currency traders know what to do with the AU$ at the moment as the global economy is approaching another recession led by the US and several European countries, and central banks around the world are looking to slash their official rates... some to zero or even into negative territory.
After the weekend close of our markets, the AU$ went back down 1.5 cents yesterday to the same rate as the post brexit rate on the 24th, and then climbed back up a cent today to 74.03 US cents.
We're going gangbusters against the British Pound though :p
The AU$ is still yoyo-ing against the US$.
21/6 - 75.11 US cents (up)
22/6 - 74.43 US cents (down)
23/6 - 76.40 US cents (up)
24/6 - 73.26 US cents (down)
25/6 - 74.77 US cents (up)
(weekend)
27/6 - 73.28 US cents (down)
28/6 - 74.13 US cents (up)
29/6 - 73.48 US cents (down at opening)
29/6 - 74.22 US cents (up at close)
It went from a fairly stable 50pence to 56pence on the 24th, and stayed flat since then (not going up or down much). It hasn't been 56pence since September 2014, almost 2 years ago.Quote:
Originally Posted by TAAUBlaster
I think everyone will be doing well against the pound for quite a while... so it would be a good time to go over there now... or maybe for a Transformers convention in August. ;)
As of today, according to xe.com, these are the current rates for AU$1...
- US$ - 0.7531 (down 2 cents since April)
- GB£ - 0.5669 (up 2 pence since April)
- JP¥ - 77.265 (way down, by 8 yen since April)
- EU€ - 0.6766 (down 1 cent since April)
- NZ$ - 1.0458 (way down, by 6 cents since April)
(bank and paypal rates are 2-3% less than the figures above)
June 24th (Brexit) had more of an impact on our rates with Japan than the UK, with the AU$ losing 8 yen in just one day - losing almost 10% at the same time as gaining almost 10% against the Pound.
I am feeling the pinch of jpy atm as not only the dollar is strong but ems has increased in price since May .
Aussie dollar steadily rising against the US dollar over the past month or so. Hit US $0.77 today.
I saved $7 just paying today vs last month as it was a good recover against jpy for a long time.
The GB Pound continues to be the big mover, losing even more value since the Brexit... while the other currencies seem to be staying pretty flat, just moving one or two AU cents up and down in the last three months.
As of today, according to xe.com, these are the current rates for AU$1...
- US$ - 0.7618 (up slightly since July)
- GB£ - 0.6249 (up a big 6 pence since July)
- JP¥ - 79.368 (up 2 yen since July)
- EU€ - 0.6943 (up 2 cents since July)
- NZ$ - 1.0749 (up 3 cents since July)
(bank and paypal rates are 2-3% less than the figures above)
So now that those idiot American's have put Trump in charge is the USD expected to get stronger or weaker? I hope it's weaker.
Why? Both candidates were a lose.
Anyway, it will get stronger as it's still the safest currency in the world. Stock markets have dived world wide. Doesn't mean much though as the whole thing is driven on feelings. I wouldn't put too much stock (heh) in it right now. They would have crashed anyway.
A rise in the AUD is good news for us as collectors. ;) #silverlining
Really? I think the AUD also went down and the JPY went up sooo no silver lining just yet.Quote:
Originally Posted by GoktimusPrime
According to the financial news app in Windows 10 every stock market across Asia was down after the Trump win started to look likely. We will have to see if Wall Street goes lower than the rest of the world. I'd love to see what happens to the USD if he can really pass a law to make Apple bring all it's manufacturing back to America. I'm really hoping for cheap shopping from America.
Trump's win hasn't made the US dollar drop too much yet. We are sitting at our buck still worth about 0.76 of theirs.
No. With the tariffs and protectionist stuff you'll pay way too much to import stuff from America.Quote:
Originally Posted by DELTAprime
The problem with Apple there, and here and the rest of the world is getting them to pay their taxes. Will he close loop holes he knows exist from his use of them for the greater good, or will he leave them be because after 4 years he'll still benefit from them? That is what people should look at.
The Aussie dollar has dropped considerably against the US dollar. It dropped below 0.74 USD today due to the strength of the US dollar in recent days over talks of an impending rate rise. On the plus side, our dollar has strengthened against the Japanese Yen.
Our dollar is stronger against all the other currencies though. But rates rising is something that is 3 years over due anyway as lowering them has done nothing to bring inflation to where they want it. Wages stagnation is to blame there as well as the price of ore.
I wouldn't call 2 cents considerable. Am I the only one that remembers the Howard government's 1 AUD buying around .50 USD?Quote:
Originally Posted by Megatran
Nope, I remember it quite well. Went down to 0.48 if I remember correctly.Quote:
Originally Posted by DELTAprime
I remember too. It was pretty much just double the listed US price when buying stuff back then. Was into mtg back in the 90's and they'd take the price guides and the listed price they'd buy at and they'd double it to sell at was what every card store did as the guides were in USD.
I'm watching the AUD/¥. It's up to 84, would love for it to get back to 90+. Even at this level I'm considering shifting my Transformers purchasing back to Japanese sources.
Meanwhile, we are continuing our slide against the US$... now under 74c.
We get better with one major source of Transformers (Japan), but then get worse with the other major source (America & HK sources that sell in US$).
The AUD/¥ has broken through 86, hopefully on the way to 90!