Falling!!! Help!!!

[Keith009]

Apparently Japan is f*cked as their JPY has appreciated about 40% in a matter of days. Their economy is highly dependent on exports - cars, electronics etc so this virtually spells doom for them. Meanwhile the stock market closed 9.6% down yesterday.

And of course no good for Iceland as much of what they borrow is in JPY (and francs), so their loans have just exponentially increased within the week.

From a travel perspective, I think the nice AA NRT ladies won't have to deal with ticketing xONExs for a while yet.

 

[kpc]

Greetings from Bali where the AUD has fallen from the high IDR 7000s to low 6000s in a matter of 2 weeks. I just don't understand why the AUD is falling against just about every country, when our economy is meant to be one of the better 1st world ones:?:

BTW, Dinner & drinks in Bali for 1 tonite cost me nearly IDR500,000!
wow...1/2 a million for dinner!!!

 

[Evan]

Greetings from Bali where the AUD has fallen from the high IDR 7000s to low 6000s in a matter of 2 weeks. I just don't understand why the AUD is falling against just about every country, when our economy is meant to be one of the better 1st world ones:?:

People have of course mentioned slow down in exports of raw materials and also reducing interest rates but really it does seem the AUD has taken a bit more of a dive than you would have expected especially against some of the other Asian currencys.
I guess it atleast makes our exports more attractive.

E

 

[JohnK]

I guess it atleast makes our exports more attractive.

Just great. At least someone will be happy although given the current cause of the global economic crisis the demand for our exports will not be that high anyway.

 

[drron]

Well here is Bill Clinton showing that he has no idea about economics.He says derivatives began about 2001 despite the fact that Congress received a report on their dangers in 1994 and Bill himself signed the law keeping derivatives clear of oversight in 2000.
World economic crisis explained | The Courier-Mail

 

[Kendall Roy]

I was looking to book internal flights for my Contiki tour next March on BA.

AMS-LHR on BA is 100EU.

A few weeks ago this converted to approximately $160AUD; now it's over $200AUD.

Should I hold off a couple of weeks in the hope the AUD will appreciate in value?

 

[thegurio]

I'M LAZY

Care to post the link to the thread?

Im not, but i still cant find it (well i am but i did try looking!)

Link?

 

[serfty]

Im not, but i still cant find it (well i am but i did try looking!)

Link?

Ticketing *ONE's in Seoul with AA - FlyerTalk Forums

I think the AA GSA in Korea can be found here:AA.com - Ticket Sales Centers - Korea

Daejoo Air Agencies Co., Ltd.
9th Floor, Hansung Building, 47-2, Seosomun-Dong,
Chung-Ku, Seoul, Korea, 100-813
Phone: (+82-2) 319 3401 (Reservations)

 

[dajop]

Should I hold off a couple of weeks in the hope the AUD will appreciate in value?

I don't think anyone is going to offer any tips on where the AUD might head up, down or out. I am sure many "experts" were surprised at how fast it fell, I don't think anyone would have picked 0.65 USD by the first week of October. So wait an hour or two you might by lucky, but then a few hours later it could be all gone and worse.

 

[Evan]

Just hang on for the rollercoaster tomorrow morning !
I would expect atleast the stocks side of things we will see AU, JP, and a few other drop once again on the back of the "no action" plan that the G7 leaders came up with friday afternoon...

E

 

[Mal]

Just hang on for the rollercoaster tomorrow morning !

Nah, I think the market will trend upwards a little as investor confidence slowly returns...

 

[Evan]

Just goes to show Mal the different opinions from different perspectives ! i hope your right, i do hope so.
Even if it does drop more it cant be much worse than now and in time it will become more stable and things wil start to go the other way.

Right now i would only advise one thing to people.... wait and see. If you dont need to do anything now then simply don't, a clearer picture will present itself soon enough i would imagine.

I dont have all that much exposure to stocks (except superannuation which is the same as just about everybody) so i can sleep easy at night.
Although i am sitting on some JYP in cash i could make some money on right now if i went to a money changer.... hmmmm....

E

 

[straitman]

Just hang on for the rollercoaster tomorrow morning !
I would expect atleast the stocks side of things we will see AU, JP, and a few other drop once again on the back of the "no action" plan that the G7 leaders came up with friday afternoon...

E

I actually think it will bumble along in small ups & downs but overall will be more stable.

Nah, I think the market will trend upwards a little as investor confidence slowly returns...

I agree.

 

[straitman]

I dont have all that much exposure to stocks (except superannuation which is the same as just about everybody) so i can sleep easy at night.
Although i am sitting on some JYP in cash i could make some money on right now if i went to a money changer.... hmmmm....

E

Evan,

I'm with you on the stocks issue (thankfully)

As I posted else where here I'm fortunate that my super is in a defined benefit scheme.

 

[Mal]

Thanks for the reminder that I have > $A400 worth of Yen sitting around doing nothing... And > $A700 HKD doing nothing.

May be time tomorrow to cash in.

It amazes me how little collections of left over notes can add up when currencies suddenly flip!

Most other currencies are pretty light in my collection.

 

[Hvr]

Absolutely no idea which way it will go but having just purchased some US$ at 69c AUD$ and watching it slide even further I am not really happy.

Still the travel will start soon and I will see how many currencies, Thai Baht, US$ (Cambodia), SIN$, HK$ and Phillipine Peso I can lose money on.

 

[drron]

Interesting article in the NY Times today.For the S&P this is the 4th worst drop in history but about to catch 1974.Interestingly the graph we are following at the moment follows most closely the 1942 crash-it lasted 5 years.We have even lost value faster than 1929 at this stage.
How This Bear Market Compares - Interactive Graphic - NYTimes.com

 

[Mal]

Funny thing happened today when I went to drop off my Forex.

The teller misread my HKD$500 notes as HKD$5000 notes. Was nearly about to give me around $A5000 for my collection. I corrected her, and after much confusion we came to the correct realisation that I only had around 1/8th of that value in notes.

(And no, there was pretty much no way that I would have been able to get away with not correcting her. Photo ID/Bank Account details and security camera footage would have correctly identified that they stuffed up...)

 

[Therma]

Well, maybe time to resurrect this thread. I'm travelling to the US in about a week and half's time ... and well as is usual when I go to the US, things seem to be going south very quickly. Have to laugh at comments in this thread in context of the latest fall to 72c (and Therma - you must be very happy at 1.06 vs SGD)

I am ecstatic! Just changed 20 K SGD one to one! Finally the mortgage is moving. Just not sure whether there will be anything to come back to! Ruddy boy may squander it all away by the time we come back!

 

[docjames]

Whats the AUD$ worth vs the ZIM$?? Should be close soon.