What's your prediction on the Australian Dollar?

RAM said:
It was called the GFC....

A brick & tile 3 bedroom house with separate 4 car garage - all built in 2003 in the 'Golden Triangle' in Florida (never had a hurricane through it) on 2,200sqm over the road from a National Park, in top quartile school district and bottom quartile crime, with .9% unemployment rate (in 2010!!) was for sale at USD 17,000

Most US banks were bankrupt, Ford & GM went bankrupt (Chapter 11) then Obama effectvively nationalised them but it wasn't called that.

And with that backdrop the AUD managed to briefly reach $1.10
Click to expand...
my AU version of the GFC was all beer & skittles.. and lots of online shopping from amazon USA. ;)
 
RAM said:
It was called the GFC....

A brick & tile 3 bedroom house with separate 4 car garage - all built in 2003 in the 'Golden Triangle' in Florida (never had a hurricane through it) on 2,200sqm over the road from a National Park, in top quartile school district and bottom quartile crime, with .9% unemployment rate (in 2010!!) was for sale at USD 17,000

Most US banks were bankrupt, Ford & GM went bankrupt (Chapter 11) then Obama effectvively nationalised them but it wasn't called that.

And with that backdrop the AUD managed to briefly reach $1.10
Click to expand...
The biggest falls in the AUD were due to an event a lot earlier than the GFC.
We got $US1.30 for our dollar in LOTFAP in 1981.We were still doing well in 1983 when again in the USA until we awoke one morning to find the Aussie was down 10%.
www.nma.gov.au

Australian dollar floated

1983: Floating of the Australian dollar
www.nma.gov.au www.nma.gov.au
It dropped to 0.4775 to the USD in 2001.We were again in the USA then.
 
drron said:
The biggest falls in the AUD were due to an event a lot earlier than the GFC.
We got $US1.30 for our dollar in LOTFAP in 1981.We were still doing well in 1983 when again in the USA until we awoke one morning to find the Aussie was down 10%.
www.nma.gov.au

Australian dollar floated

1983: Floating of the Australian dollar
www.nma.gov.au www.nma.gov.au
It dropped to 0.4775 to the USD in 2001.We were again in the USA then.
Click to expand...
not sure when it was exactly (10, 12 or more years ago) but it was 0.9 & dropped to 0.6 in a matter of weeks, so 50% increase on everything but air.

In those days you could book a whole package, air, accom, car, with min deposit of $100/person. Know lots of people who walked away from their deposits at short notice & left airlines with lots of unsold seats & airlines were scrambling to fill them.
 
The currencies experienced jitters earlier today when the Aussie hit a low of 0.6312 (from 0.6629 at start of trade). Luckily i had an order filled to sell USD at 0.6430. By the time I reached the bank website, it had got back above 0.6500.
 
Foreigner said:
The currencies experienced jitters earlier today when the Aussie hit a low of 0.6312 (from 0.6629 at start of trade). Luckily i had an order filled to sell USD at 0.6430. By the time I reached the bank website, it had got back above 0.6500.
Click to expand...
what bank ?

We look at

Australian Dollar to US Dollar Exchange Rate Chart | Xe

AUD to USD currency chart. XE’s free live currency conversion chart for Australian Dollar to US Dollar allows you to pair exchange rate history for up to 10 years.
www.xe.com www.xe.com

many times a day & lowest we can see today 0.64723

CURRENTLY 0.65442

We are able to pay for certain things for clients with a credit card & always get the rate on xe.com or better.
 
The local SE Asian currencies are falling against the USD as well. Only recently did the AUD fall a great deal more in comparison.

Just wandering
Fred
 
I love to travel said:
Wont the US want to intervene to weaken their dollar? 60c AUD to USD is just not viable for us.
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Not viable for who?

The RBA has been banging on for years about a weak AUD being better for the Australian economy.

The US has a strong domestic economy, they are not as reliant as us.
 
daft009 said:
why is that, all the markets are suffering globally, however its the AU$ thats tanking only
Click to expand...

Not just the AUD, the GBP also. We've lost 5c against the EUR and nearly 10c against the USD just in the past week alone!

We have strengthened slightly against the AUD though ;)

First time it's dropped under 0.50 since I've been here. I remember during the London 2012 Olympics it was 0.68.
 
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daft009 said:
Aren't they 4 trillion in debt. How's that strong
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2.3 trillion & 106% to GDP, and investors continue to gobble up their bonds whenever a new round is issued.

Now I'd hazard a guess there are much smarter people on this forum then I in regards to economics, but I swear just over a decade ago when we were discussing Debt to GDP in uni that a range of 70-80% was considered OK - this based on the historical cycles of economic growth rates.

Now we have numerous developed countries with Debt to GDP over this range, and some of them still have bond ratings of AAA by credit agencies.

Based on the past decade and a half, I fail to see how some of these developed countries economies are going to outgrow the current government spending levels and start to reduce debt, let alone ever paying it back!
 

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