Falling!!! Help!!!

[codash1099]

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

SHane

Is that a good or bad sign?

 

[NM]

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

Seems that both have tumbled like wickets at the Gabba.

 

[JohnK]

Sad times indeed. It feels like the worlds problems are taken out on the A$ at the moment. If not for RBA intervention the A$ would be closer to US50c than US60c....

 

[serfty]

Some minor recovery ... AUD/USD 0.6232 0.6237

 

[v8Statesman]

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)

I knew it! Looking at the graph. It had a low point on the 27/10. I was in the US 25/10-31/10. I extracted US$600 from my bank on the 27th.

I'm doomed. I promise to let everyone know in future then I plan to leave the country, so you have some advanced warning to may purchases!

 

[Evan]

Not that good is it

And the ZAR just became more expensive, at the same time i will be in Korea in a couple of weeks and its getting better, could be some ex ICN flights booked i think

E

 

[codash1099]

I knew it! Looking at the graph. It had a low point on the 27/10. I was in the US 25/10-31/10. I extracted US$600 from my bank on the 27th.

I'm doomed. I promise to let everyone know in future then I plan to leave the country, so you have some advanced warning to may purchases!

Don't take all the blame. It started dropping the day I made my bookings and continued sliding until the day I got home. My last hotel bill was paid at the bottom.

 

[coolumbla]

okay
i went os in the early 90's when it was 41 US cents

I think my standard edinburgh sheraton room was about 900 dollars a night!

Shane

 

[drron]

So if we all stop travelling the dollar will go up.Of course if we all stop travelling we wont need to buy dollars-there simple isnt it.

 

[mainly tailfirst]

okay
i went os in the early 90's when it was 41 US cents

I think my standard edinburgh sheraton room was about 900 dollars a night!

Shane

Methinks you mean 41 pence? The AUD has never been below 0.48USD, even in the dark days of late 2001 (when I was in the US, so I remember it well!)

mt

 

[JohnK]

I wish you guys would stop travelling. You are all ruining my future holidays.

The AUD has never been below 0.48USD, even in the dark days of late 2001 (when I was in the US, so I remember it well!)

Not that it matters too much but the official exchange rate for the A$ dropped below US48c. The A$ was momentarily trading at US47.78c! Not a place in time I would care to re-visit....

 

[mainly tailfirst]

I wish you guys would stop travelling. You are all ruining my future holidays.

Not that it matters too much but the official exchange rate for the A$ dropped below US48c. The A$ was momentarily trading at US47.78c! Not a place in time I would care to re-visit....

Well, there you go. I stand corrected.

mt

 

[straitman]

Well, there you go. I stand corrected.

mt

Don't you hate that :!: There is always some smarty around here who brings in the facts to spoil the good yarns

 

[drron]

Sorry John but this article is not too optimistic-
Aussie dollar vulnerable to recession fears | The Australian

 

[drron]

Though this from a financial newsletter i get may give a laugh-

 

[mainly tailfirst]

Though this from a financial newsletter i get may give a laugh-

Hey! I think I've got one of those in my wallet!

mt

 

[JohnK]

Sorry John but this article is not too optimistic

I do not have high expectations. As I have mentioned a number of times the AUD appears to be bearing the brunt of the global economic crisis. The US is in deep trouble, Japan is is deep trouble, UK is in deep trouble, Europe is in deep trouble, the whole world is in deep trouble so lets take it out on the AUD.

I cannot understand and will never understand how the Thai baht, SGD and other inferior currencies have appreciated 30%-40% against the AUD in the last few months. Thailand is a struggling 3rd world nation, I would not even class them as a developing nation, and Singapore has been in a recession for many months now. Let's not even mention economies like Burma, Laos, Vietnam, Cambodia, Philippines, Indonesia etc.

As for financial analysts, financial advisors and the like I take anything they have to say with a grain of salt. They have no idea what is happening or what is going to happen and just provide advice based on current market trends. Any dummy can make that type of prediction. Not more than 4 months ago they were predicting parity with the USD and all is rosy and now it is doom and gloom. Soon things will be back on track and they will all jump back on the band wagon. Financial advice. No thank you....

 

[oz_mark]

I do not have high expectations. As I have mentioned a number of times the AUD appears to be bearing the brunt of the global economic crisis. The US is in deep trouble, Japan is is deep trouble, UK is in deep trouble, Europe is in deep trouble, the whole world is in deep trouble so lets take it out on the AUD.

For better or worse, the AUD tracked up when commdotity prices were on the up, and it has followed them down.

One of the reasons for the rise of the USD and JPY against the AUD is the Us and Japanese that have been withdrawing from the Australian investments seemingly needing the cash elsewhere.

 

[NM]

Its not the end of the world ... yet.

To put things back into perspective, 5.5 years ago I took the family on a 3 month ATW holiday. Over the period we were away, the A$ value was in the range US$0.62-US$0.65. We survived for 3 months paying for hotel rooms, rental cars, food and entertainment. Now we would have saved lots of dosh had the exchange rate been more like the peak of around US$0.98. But at the time it was the going rate and we still enjoyed our holiday. We were also very thankful the A$ had mid 50c level it was trading when we first book the airfares! At that time, 65c was a multi-year high!

 

[dajop]

Its not the end of the world ... yet.

To put things back into perspective, .....

Great post. I still remember going to NYC & Orlando in 2002 with the AUD hovering around the 0.53 mark, still had a great time.

In fact, in NYC we stayed in 2 hotels in Midtown Manhattan - one for $80 USD (3*) and the other for $100USD (4*). So in AUD terms $160 and $200. OK, 9/11 had a lot to do with it, but on subsequent visits even with ER's around 0.9, never seen it so cheap. Surely it can be only a matter of time that the current financial crisis puts significant downward pressure on hotel accom in many places, somewhat negating the effect of a falling/fallen AUD. I guess not as good, if if accom is already booked though.