Falling!!! Help!!!

[JohnK]

Not the Baht appreciating, more the Aussie dollar depreciating with great rapidness.

Even bigger shock arriving at BKK airport today. The A$ is now at 22.71 THB. Trying to understand the so-called experts the reason for the latest free fall is risk aversion.

The USA is the country that is the worst affected by the credit crunch and is printing worthless money to save financial institutions and the US$ is coming out of all of this smelling rosy. What a load of hogwash....

 

[oz_mark]

The USA is the country that is the worst affected by the credit crunch and is printing worthless money to save financial institutions and the US$ is coming out of all of this smelling rosy. What a load of hogwash....

This morning was a bit of a low point, and it has recovered a bit of ground over the day

 

[serfty]

Alan Kohler on ABC news this week stated one of the major reasons is dumping of AUD based investments by Japanese businesses concerned about the impact on China's requirement for primary resources should the USA plunge into recession.

 

[Mal]

Perhaps a bright spot for me is that I cancelled and rebooked an AA flight. Due to currency changes, I should be about $50-$100 ahead

(The ticket was booked in UK Pounds, and due to the various ways both currencies have gone, the change is about $100)

A hotel in Vegas has a deposit for me which I'm tempted to cancel the booking for and rebook in a week or so. The hotel's rates have dropped over $100US since I booked it, but not only that, the deposit will be refunded, so will be way ahead there too.

PS - AA refunds that require manual investigation take about 2 weeks to complete at the moment.

 

[dajop]

Alan Kohler on ABC news this week stated one of the major reasons is dumping of AUD based investments by Japanese businesses concerned about the impact on China's requirement for primary resources should the USA plunge into recession.

Looking at the currencies on Ozforex, the two others that stand out as suffering big declines in the last few weeks are the Brazilian Real (doing much worse than AUD) and closer to home the Korean Won (not too different to the AUD). Given both countries have close relationships with Japan, particularly Korea, Alan Kohler's comments do make a lot of sense.

 

[drron]

Hey QF009 dont worry I am only going to BKK,Laos and Cambodia.Made my bookings in BKK last week hence the rise of the Baht.
I apologise profusely JohnK I should have warned you.

 

[codash1099]

For what it's worth, I was listening to a PM report where a number of currency traders said it was the US/AUD getting back to basics; returning to its average since float (.69-.73). I personally think (and mark this down for when I am totally incorrect) it will even off here, and the gap will not widen much further.

What would they know? Were any smart enough to predict the slump and are now so rich they don't need to make predictions?

 

[codash1099]

You can be assured that whatever decision you end up making, it will be the wrong one.....

Good advice! It encourages me to continue to be indecisive

 

[drron]

Good advice! It encourages me to continue to be indecisive

Which can also be the wrong decision!

 

[JohnK]

I apologise profusely JohnK I should have warned you.

I think you will find it is the other way around. Everytime I go away the A$ drops. I had an opportunity to exchange A$ at 27.83 THB last week and only exchanged A$500. Hindsight says I should have exchanged more as the bulk of my shopping was at the end of the trip and much lower exchange rate.

I am back there again on December 21 so expect another sharp drop....

 

[drron]

I think you will find it is the other way around. Everytime I go away the A$ drops. I had an opportunity to exchange A$ at 27.83 THB last week and only exchanged A$500. Hindsight says I should have exchanged more as the bulk of my shopping was at the end of the trip and much lower exchange rate.

I am back there again on December 21 so expect another sharp drop....

Fortunately I am back from BKK on the 16th.I dont think the little aussie battler could stand the 2 of us being there at the same time.

 

[tintin]

The aussie dollar is good i dont care that it has taken a slight fall. as long as it stays above the 70c mark

 

[Shano]

My brother in law recently accepted a job where he is being paid in US$. In the few weeks since he signed his contract he has just received a pretty significant pay rise.

 

[tscharke]

Alan Kohler on ABC news this week stated one of the major reasons is dumping of AUD based investments by Japanese businesses concerned about the impact on China's requirement for primary resources should the USA plunge into recession.

have been watching this space very carefully (mainly due to a portfolio with a heavy emphasis of resource stocks, IO especially)

it will very interesting how China will come through the crisis! They will always continue to develop infrastructure, but will it be at a level to continue to support a healthy IO price?

today's AFR has some good articles on this......both good & disturbing :shock:

 

[Tortuga]

My brother in law recently accepted a job where he is being paid in US$. In the few weeks since he signed his contract he has just received a pretty significant pay rise.

I'm in the same situation, except I'm getting euros.. I have seen a pretty ****ing crazy increase in my salary although I don't expect it to be like this for ever. It should pick itself up a bit shouldn't it?

 

[Alanslegal]

Now how to purchase a ticket Done*ex-Korea?

Following the thread on FT quite intently.

 

[v8Statesman]

Now how to purchase a ticket Done*ex-Korea?

Following the thread on FT quite intently.

I'M LAZY

Care to post the link to the thread?

 

[Evan]

Now how to purchase a ticket Done*ex-Korea?

Following the thread on FT quite intently.

But the KRW has really dropped against the USD (FTP being more US based) but not so much compared to the AUD
Compare a DONE4 ex KR to the AONE5 ex SA i got middle of the year and the price is almost the same so its much cheaper than AU DONE4 price.... but not super special when you price in the AU-KR flights.


Rizzamabob, i would expect if the world does not really have a bad resession then it will come back up somewhat... but nothing like it was 4 or 5 months ago.

E

 

[JohnK]

I cannot believe what I am seeing on XE.com today

1 A$ = CAD 0.7799
1 A$ = CNY 4.53 (this was over 6.5 CNY a few months ago)
1 A$ = EUR 0.4898 (over 2:1 now)
1 A$ = HKD 5.15 (well over 7 HKD recently)
1 A$ = MYR 2.33 (well over 3 MYR recently)
1 A$ = NZD 1.1098
1 A$ = SGD 0.9822 (well over 1.30 SGD recently)
1 A$ = CHF 0.7427 (close to parity recently)
1 A$ = THB 22.84 (what a joke, less than exchange rate in 2003)
1 A$ = GBP 0.3888 (almost 2:1 recently)
1 A$ = USD 0.6636 (another joke as this is the country at the centre of the whole crisis)

1 A$ = AUD 1.00000

At least we are still getting 1:1 on our own dollar....

 

[drron]

I cannot believe what I am seeing on XE.com today

1 A$ = CAD 0.7799
1 A$ = CNY 4.53 (this was over 6.5 CNY a few months ago)
1 A$ = EUR 0.4898 (over 2:1 now)
1 A$ = HKD 5.15 (well over 7 HKD recently)
1 A$ = MYR 2.33 (well over 3 MYR recently)
1 A$ = NZD 1.1098
1 A$ = SGD 0.9822 (well over 1.30 SGD recently)
1 A$ = CHF 0.7427 (close to parity recently)
1 A$ = THB 22.84 (what a joke, less than exchange rate in 2003)
1 A$ = GBP 0.3888 (almost 2:1 recently)
1 A$ = USD 0.6636 (another joke as this is the country at the centre of the whole crisis)

1 A$ = AUD 1.00000

At least we are still getting 1:1 on our own dollar....

Ah!But will we stay as 1=1.
Still our little Aussie battler has fallen 30% in 2 months,the Icelandic krona 29% yet that place is about to be bankrupted.There is obviously no fundamental reason why the aussie has been hit so hard other than plain fear-no one wants to invest and the aussie used to be a traders favourite.I wonder if any one has a working crystal ball?