What's your prediction on the Australian Dollar?

[daft009]

It was called the GFC....

A brick & tile 3 bedroom house with separate 4 car garage - all built in 2003 in the 'Golden Triangle' in Florida (never had a hurricane through it) on 2,200sqm over the road from a National Park, in top quartile school district and bottom quartile crime, with .9% unemployment rate (in 2010!!) was for sale at USD 17,000

Most US banks were bankrupt, Ford & GM went bankrupt (Chapter 11) then Obama effectvively nationalised them but it wasn't called that.

And with that backdrop the AUD managed to briefly reach $1.10

my AU version of the GFC was all beer & skittles.. and lots of online shopping from amazon USA.

 

[ozfflyer]

Maybe for select travel. But other items - department stores, groceries, etc - are not.

Sure if you eat at st expensive restaurants every night. Groceries are generally cheap as is booze & petrol.

 

[Buzzard]

What is the lowest it's ever been? .50?

I can recall when it was roughly A$1.20 to US$1. That was in the mid 1980s. Friends older than me said it once purchased US1.40 per A$1.

IIRC it dipped to just below $0.50

 

[MEL_Traveller]

Sure if you eat at st expensive restaurants every night. Groceries are generally cheap as is booze & petrol.

Exactly. Groceries, shopping in general, are more expensive today in AUD than they were a few days ago!

 

[ozfflyer]

Exactly. Groceries, shopping in general, are more expensive today in AUD than they were a few days ago!

3 or 4% more isn't very significant when you look how cheap air is. United doing $699 return 2 lax from mel. Similar from syd.

 

[drron]

It was called the GFC....

A brick & tile 3 bedroom house with separate 4 car garage - all built in 2003 in the 'Golden Triangle' in Florida (never had a hurricane through it) on 2,200sqm over the road from a National Park, in top quartile school district and bottom quartile crime, with .9% unemployment rate (in 2010!!) was for sale at USD 17,000

Most US banks were bankrupt, Ford & GM went bankrupt (Chapter 11) then Obama effectvively nationalised them but it wasn't called that.

And with that backdrop the AUD managed to briefly reach $1.10

The biggest falls in the AUD were due to an event a lot earlier than the GFC.
We got $US1.30 for our dollar in LOTFAP in 1981.We were still doing well in 1983 when again in the USA until we awoke one morning to find the Aussie was down 10%.

Australian dollar floated

1983: Floating of the Australian dollar

www.nma.gov.au

It dropped to 0.4775 to the USD in 2001.We were again in the USA then.

 

[Tropic]

"Big Teddy" says what goes down, comes up...

 

[ozfflyer]

The biggest falls in the AUD were due to an event a lot earlier than the GFC.
We got $US1.30 for our dollar in LOTFAP in 1981.We were still doing well in 1983 when again in the USA until we awoke one morning to find the Aussie was down 10%.

Australian dollar floated

1983: Floating of the Australian dollar

www.nma.gov.au

It dropped to 0.4775 to the USD in 2001.We were again in the USA then.

not sure when it was exactly (10, 12 or more years ago) but it was 0.9 & dropped to 0.6 in a matter of weeks, so 50% increase on everything but air.

In those days you could book a whole package, air, accom, car, with min deposit of $100/person. Know lots of people who walked away from their deposits at short notice & left airlines with lots of unsold seats & airlines were scrambling to fill them.

 

[Foreigner]

The currencies experienced jitters earlier today when the Aussie hit a low of 0.6312 (from 0.6629 at start of trade). Luckily i had an order filled to sell USD at 0.6430. By the time I reached the bank website, it had got back above 0.6500.

 

[wholesaler]

The currencies experienced jitters earlier today when the Aussie hit a low of 0.6312 (from 0.6629 at start of trade). Luckily i had an order filled to sell USD at 0.6430. By the time I reached the bank website, it had got back above 0.6500.

what bank ?

We look at

Australian Dollar to US Dollar Exchange Rate Chart | Xe

AUD to USD currency chart. XE’s free live currency conversion chart for Australian Dollar to US Dollar allows you to pair exchange rate history for up to 10 years.

www.xe.com

many times a day & lowest we can see today 0.64723

CURRENTLY 0.65442

We are able to pay for certain things for clients with a credit card & always get the rate on xe.com or better.

 

[Foreigner]

Westpac. I meant to log in. The drop in Aud was momentary.

I use this website to check currency movements:

Australian Dollar News|Aussie Quote|Australian Dollar Charts|AUD USD Rate Forecast|Australian Dollar Research - ForexDirectory.net

Pound Australian dollar Forecast AUD USD currency real time australian dollar forex rates australian dollar research charts australian dollar research poll australian dollar fx forecast dollar brokers forum.

forexdirectory.net

 

[daft009]

why is that, all the markets are suffering globally, however its the AU$ thats tanking only

 

[wandering_fred]

The local SE Asian currencies are falling against the USD as well. Only recently did the AUD fall a great deal more in comparison.

Just wandering
Fred

 

[daft009]

My main concern is euro to Aussie

 

[I love to travel]

Wont the US want to intervene to weaken their dollar? 60c AUD to USD is just not viable for us.

 

[Must...Fly!]

Wont the US want to intervene to weaken their dollar? 60c AUD to USD is just not viable for us.

Not viable for who?

The RBA has been banging on for years about a weak AUD being better for the Australian economy.

The US has a strong domestic economy, they are not as reliant as us.

 

[Mrmaxwell]

It dropped to 0.4775 to the USD in 2001.We were again in the USA then.

My first trip to the USA during uni holidays...I'll never forget how expensive it was being a student

 

[daft009]

Not viable for who?

The RBA has been banging on for years about a weak AUD being better for the Australian economy.

The US has a strong domestic economy, they are not as reliant as us.

Aren't they 4 trillion in debt. How's that strong

 

[Flashback]

why is that, all the markets are suffering globally, however its the AU$ thats tanking only

Not just the AUD, the GBP also. We've lost 5c against the EUR and nearly 10c against the USD just in the past week alone!

We have strengthened slightly against the AUD though

First time it's dropped under 0.50 since I've been here. I remember during the London 2012 Olympics it was 0.68.

 

[rock86]

Aren't they 4 trillion in debt. How's that strong

2.3 trillion & 106% to GDP, and investors continue to gobble up their bonds whenever a new round is issued.

Now I'd hazard a guess there are much smarter people on this forum then I in regards to economics, but I swear just over a decade ago when we were discussing Debt to GDP in uni that a range of 70-80% was considered OK - this based on the historical cycles of economic growth rates.

Now we have numerous developed countries with Debt to GDP over this range, and some of them still have bond ratings of AAA by credit agencies.

Based on the past decade and a half, I fail to see how some of these developed countries economies are going to outgrow the current government spending levels and start to reduce debt, let alone ever paying it back!