Falling!!! Help!!!

[tuapekastar]

And the AUD has dropped around 7% against the USD in the last few weeks ...

from around USD$0.930 to currently USD$0.856 :shock:

Hmmm! I hope the trend arrests itself quite promptly! It's done better against the European currencies, where I'll be spending a bit more time. But as someone who last visited the LOTFAP and UK when the AUD got roughly USD 0.49 and GBP 0.31 respectively shock, the current rates look ok.

 

[Flashback]

Hmmm! I hope the trend arrests itself quite promptly! It's done better against the European currencies, where I'll be spending a bit more time. But as someone who last visited the LOTFAP and UK when the AUD got roughly USD 0.49 and GBP 0.31 respectively shock, the current rates look ok.

I hope for my girlfriends sake it improves in the next month :shock:

 

[oz_mark]

Hmmm! I hope the trend arrests itself quite promptly! It's done better against the European currencies, where I'll be spending a bit more time. But as someone who last visited the LOTFAP and UK when the AUD got roughly USD 0.49 and GBP 0.31 respectively shock, the current rates look ok.

A month ago I was talking to some other folk about where they see some things headed, and their guesses for the end of the year for the AUD and All Ords. One guy said

AUD vs US 70c
All Ords 3400

It all comes down to what happens with Europe and growth slowing in China.

 

[drron]

A month ago I was talking to some other folk about where they see some things headed, and their guesses for the end of the year for the AUD and All Ords. One guy said

AUD vs US 70c
All Ords 3400

It all comes down to what happens with Europe and growth slowing in China.

I'm inclining to that view myself.

 

[cove]

Yes we need to help Ken Henry out of his position.No one in recent times has been able to do so much damage to our sovereign credit rating in such a short time with his idea that has hurt Australia's future.
Currency is in free fall if you are watching CNBC tonight

 

[Alanslegal]

Yes we need to help Ken Henry out of his position.No one in recent times has been able to do so much damage to our sovereign credit rating in such a short time with his idea that has hurt Australia's future.
Currency is in free fall if you are watching CNBC tonight

please explain how

 

[serfty]

please explain how

Resources tax!

Current spot rate is 84.3¢ ...

 

[cove]

Our mining boom is in a bit of trouble if we believe the cancellations of projects.
Our currency is heavily traded and there are a lot of liquidations based on the chance that the cancellations turn out to be real.
Our currecy runs on fear and greed.

 

[oz_mark]

The fact that SFA has been done about the underlying causes of the GFC means it is pretty much destined to happen again.

 

[Alanslegal]

Our mining boom is in a bit of trouble if we believe the cancellations of projects.
Our currency is heavily traded and there are a lot of liquidations based on the chance that the cancellations turn out to be real.
Our currecy runs on fear and greed.

Ahh that makes kind of logic, thanks.

I was thinking more of the last comment, where that was something I was considering, but lacked the sufficient personal cash liquidity to follow through ie buy loads of USD when it was ~92 mark and wait for a big dip (like what appears to be starting now)

 

[cove]

I bought one of America's 3 million foreclosures in March so my Banker suggested to me that I had guru-ed the US dollar at 92 cents.
If our currency plunges I would think a lot of AFF members wont be too happy being long Aussie and short the currency they need overseas.
This is the second time the $AUD has been in the nineties (recent times) so no one could say it could not happen again.
Europe is now very cheap compared with previous years and shopping in America is still often less than half Australian prices so dont get overly concerned.

 

[JohnK]

The fact that SFA has been done about the underlying causes of the GFC means it is pretty much destined to happen again.

You mean covering it all up and printing more money was not the solution?

Europe is now very cheap compared with previous years and shopping in America is still often less than half Australian prices so dont get overly concerned.

Not too concerned about it all but considering that Thailand is a mess right now our dollar is the one in freefall. I will be there in 3 weeks time and my AUD2,000 is going to be buying THB4,000-6,000 less than a few weeks ago.

 

[Mal]

Not too concerned about it all but considering that Thailand is a mess right now our dollar is the one in freefall. I will be there in 3 weeks time and my AUD2,000 is going to be buying THB4,000-6,000 less than a few weeks ago.

Yeah, it is frustrating that the $A always seems to take the beating when other currencies are stuffed.

THB6000 would come close to covering my accom for a couple of nights in parts of Thailand, so yeah, it is a significant amount.

 

[trooper]

The current drop is my fault folks... Sorry!

I was just about to pull the trigger on a fairly $$$ fare priced of course in US$...

Couldn't book last week as I had to confirm the arrangements were acceptable to my travel buddy in QLD.... so naturally NOW it slumps... <Sigh!>

 

[docjames]

Resources tax!

Current spot rate is 84.3¢ ...

Ironically a falling AUD will help profits as much of their income is in USD.


It's my fault - I'm heading overseas next week and was about to buy EU and GBP. :evil:

 

[drron]

Ironically a falling AUD will help profits as much of their income is in USD.


It's my fault - I'm heading overseas next week and was about to buy EU and GBP. :evil:

Well its 3 out of 3.I am off to China next week and of course they are pegged to the US dollar.Sigh.

 

[JohnK]

THB6000 would come close to covering my accom for a couple of nights in parts of Thailand, so yeah, it is a significant amount.

The cost of my accommodation for the 12 nights is THB8,400. Effectively the drop in the AUD has doubled my the cost of my accommodation.

If there is a good thing to come out of the freefall of the AUD is that I have a fair amount of Euro which is now worth something against the AUD but still worthless against the THB. Would have been nice to have bought the USD a month ago but I did not have any cash at the time.

Oh well. You win some, you lose more....

 

[v8Statesman]

And it keeps falling! AU$1=US$0.83107

 

[v8Statesman]

The cost of my accommodation for the 12 nights is THB8,400. Effectively the drop in the AUD has doubled my the cost of my accommodation.

How? 1 AUD is worth more than 13.5 THB! (Half of the 27 I was getting last week)

 

[drron]

Just read a tongue in cheek article on currencies.said the world's currencies are in a race to reach parity with the Zimbabwe dollar:shock: