Falling!!! Help!!!

[JohnK]

A long way off the 6.1 from earlier this year.

I vaguely remember the AUD was buying 6.7-6.8 RMB in May of this year.

1 AUD = 1.0020 SGD

Also good to see that it is still 1 AUD = 1.00000000 AUD

 

[kpc]

Dollar dive: 40 US cents warning

The Australian dollar may fall to a record low next year, possibly dipping below 40 US cents for the first time, as slowing growth in emerging markets cools demand for the raw materials exported by the nation.

The currency has dropped 31% since reaching a 25-year high of 98.49 US cents on July 16, sliding as prices of crude oil, gold and nickel declined. It reached 47.75 cents in April 2001, the lowest since it started trading freely in 1983

Dollar dive: 40 US cents warning | theage.com.au


They can't be serious.....:evil::shock::evil:

 

[JohnK]

Re: Dollar dive: 40 US cents warning

They can't be serious.....:evil::shock::evil:

You wouldn't think they are serious but anything is possible. These same "experts" not that long ago were saying that the A$ would reach parity with the US$ and possibly overtake it again. Huh! I have been monitoring the news on the Australian dollar on a daily basis and I am amazed at some of reasons each of the "experts" uses for the loss/gain of the A$.

 

[drron]

Re: Dollar dive: 40 US cents warning

You wouldn't think they are serious but anything is possible. These same "experts" not that long ago were saying that the A$ would reach parity with the US$ and possibly overtake it again. Huh! I have been monitoring the news on the Australian dollar on a daily basis and I am amazed at some of reasons each of the "experts" uses for the loss/gain of the A$.

The fact that the experts are predicting a further fall gives me hope that we have seen the bottom with $A vs $US.Surely it is not going to take that long for the pundits to realise that purchasing a currency that is being printed like there is no tomorrow cant really be a safe haven.

 

[JohnK]

Re: Dollar dive: 40 US cents warning

The fact that the experts are predicting a further fall gives me hope that we have seen the bottom with $A vs $US.

One can only hope.

Surely it is not going to take that long for the pundits to realise that purchasing a currency that is being printed like there is no tomorrow cant really be a safe haven.

Unfortunately a lot of people see the US as the modern Rome. And unfortunately this gives the US the power to do anything they want as no one wants to see Rome fall, again....

 

[straitman]

Re: Dollar dive: 40 US cents warning

One can only hope.


Unfortunately a lot of people see the US as the modern Rome. And unfortunately this gives the US the power to do anything they want as no one wants to see Rome fall, again....

I would say that a lot of people would like to see the modern Rome fall :!:

 

[NM]

Re: Dollar dive: 40 US cents warning

You wouldn't think they are serious but anything is possible. These same "experts" not that long ago were saying that the A$ would reach parity with the US$ and possibly overtake it again. Huh! I have been monitoring the news on the Australian dollar on a daily basis and I am amazed at some of reasons each of the "experts" uses for the loss/gain of the A$.

Well those experts were pretty close to the money. My records show the A$ closed at US$0.9778 on 22nd July 2008. So if there are again within 2.22 cents for their low-ball predictions, we can await US$0.4222 in the next few months :shock:.

 

[dajop]

Re: Dollar dive: 40 US cents warning

The fact that the experts are predicting a further fall gives me hope that we have seen the bottom with $A vs $US.Surely it is not going to take that long for the pundits to realise that purchasing a currency that is being printed like there is no tomorrow cant really be a safe haven.

But you've gotta remember we have a completely scr##wed up banking system - we don't have a government giving huge handouts to or rescuing our banks which is just not a good sign. Laughed when I got my Westpac FY results notice by email yesterday, shows how dire the situation is, only $3.9b AUD of net profit and pathetic increase in net profit of only 12%. Should be losing money, and people would have a lot more confidence.

 

[drron]

Re: Dollar dive: 40 US cents warning

But you've gotta remember we have a completely scr##wed up banking system - we don't have a government giving huge handouts to or rescuing our banks which is just not a good sign. Laughed when I got my Westpac FY results notice by email yesterday, shows how dire the situation is, only $3.9b AUD of net profit and pathetic increase in net profit of only 12%. Should be losing money, and people would have a lot more confidence.

Yes its awful isnt it.Wall street started the year with the big 5 investment banks.Bear stearns-gone.Lehmans-gone.Merill-lynch-going.Only Goldman-Hathaway and Mitsuibishi-Stanley left but they have become ordinary banks.Just wish our lot were as successful.
Also just read that the US federal debt increased $800 billion in the last 2 months.Whats wrong with our reserve bank?

 

[JohnK]

Re: Dollar dive: 40 US cents warning

Well those experts were pretty close to the money. My records show the A$ closed at US$0.9778 on 22nd July 2008. So if there are again within 2.22 cents for their low-ball predictions, we can await US$0.4222 in the next few months :shock:.

You are using logic with economics which is not always wise. Time will tell but if it gets down below US50c it will be an absolute disaster. Don't want to go there again.

BTW I was hoping this thread would be taken out of the Playground into the main forum but my request has been ignored....

 

[straitman]

Re: Dollar dive: 40 US cents warning

BTW I was hoping this thread would be taken out of the Playground into the main forum but my request has been ignored....

It would seem appropriate :!: :idea:

 

[JohnK]

Re: Dollar dive: 40 US cents warning

It would seem appropriate :!: :idea:

What do you feel is appropriate? My request being ignored again or this thread moved out of the Playground?

Jokes and OT banter aside I feel there has been a lot of useful information in this thread....

 

[straitman]

Re: Dollar dive: 40 US cents warning

What do you feel is appropriate? My request being ignored again or this thread moved out of the Playground?

Jokes and OT banter aside I feel there has been a lot of useful information in this thread....

Oops.

I knew what I meant :!:

I feel it would be appropriate if the thread was moved. :idea:

 

[drron]

Well thanks to the falling dollar we now have the cheapest Ipods in the world-
Why Australia has the world's cheapest iPods - Articles - MP3 Players

 

[Mal]

61c this morning...

 

[futaris]

Did this last month too. Wonder if it'll go back up to ~70c at the beginning of next month.

Exchange Rates Graph (Australian Dollar, American Dollar)

 

[Alanslegal]

sad sad sad

 

[drron]

I think the poor thing needs some time in the ICU.

 

[Tortuga]

Wonder when it will reach bottom.

 

[coolumbla]

I think the poor thing needs some time in the ICU.

The problem with that is that to find an ICU bed it will need to spend some time in an Emergency Department before many phone calls are made to find somewhere with the space and the people for it to recover. It may even need to go somewhere else!

(deeply cynical public servant)

at least teh NZ dollar is stable(ish) against us

SHane