What's your prediction on the Australian Dollar?

[whatmeworry]

Just heard the US is contemplating giving businesses and individuals money directly because cutting rates and money printing is not working. I wonder how that would play out on the forex market.

 

[cove]

We bought at 0.76 today so it should go up as a result.

 

[Cossie]

So do I buy some more pounds now, or wait a couple of days? Do I do the same with the euro?

 

[cove]

We took some Euros at 0.79 overnight which I think is ok.

 

[There'sOnlyOneJimmy]

We took some Euros at 0.79 overnight which I think is ok.

Ummm, where did you get Euro at 0.79? I'd buy a bucketload at that rate!!!!

 

[cove]

Great pick up Jimmy.....my one finger typing meant to say 0.69 on the Euro and not 0.79.
The GB pound has stabilized a bit so the plunge protection team must be working hard.

 

[Flashback]

So do I buy some more pounds now, or wait a couple of days? Do I do the same with the euro?

A few days ago was better... cold comfort I know :mrgreen:

 

[flightobserver]

Qantas Cash offering 0.6512 EUR (the highest its been in the past week at least) with 3x bonus points on load amount.

To bite or not to bite, that is the question.

 

[Doctore1003]

The GB pound has stabilized a bit so the plunge protection team must be working hard.

Of course! Or maybe unwinding of large short positions ...

 

[cove]

Giving up more than 5% of your hard earned money seems a bit harsh to get these extra points but getting some QF points might be helpful if you are using them for business class or first class flights including upgrades.

 

[Foreigner]

Some thoughts about our largely irrelevant currency:

Aussie Devaluation Best for RBA in Extreme Scenario, Eslake Says - Bloomberg

 

[Foreigner]

RBA today cut interest rate by 25 points:

Reserve Bank of Australia cuts interest rates to record low of 1.5 per cent

 

[Doctore1003]

RBA today cut interest rate by 25 points:

Reserve Bank of Australia cuts interest rates to record low of 1.5 per cent

The limited drop in the AUD suggests the path of least resistance continues to be higher.

 

[PLANT]

Look it might be time to call parity as this Aussie seems to be defying all the elements...... If well all stand together and call parity..... Then it may finally drop to my predicted 65 cents 4+ months ago!!!!

 

[MEL_Traveller]

Look it might be time to call parity as this Aussie seems to be defying all the elements...... If well all stand together and call parity..... Then it may finally drop to my predicted 65 cents 4+ months ago!!!!

l'm much happier with it at 75c thanks (the higher the better!)

 

[RAM]

I'm not greedy, 70 pence to the AUD will do me fine.

 

[cove]

We are going to the US tomorrow and today's exchange rate works for us.

 

[whatmeworry]

Absolutely useless rate cut today. Banks haven't even passed on the full cut.

 

[drron]

Absolutely useless rate cut today. Banks haven't even passed on the full cut.

But you do realise that only about 60% of what they lend is covered by depositors fund according to the financial press.So the other 40% is almost certainly not at 1.5% and probably not going to change when our reserve bank cuts rates.

 

[Awesom Andy]

Absolutely useless rate cut today. Banks haven't even passed on the full cut.

Agree on the uselessness. It hasn't achieved a drop in AUD, and hasn't achieved a drop in lending rates to the public. It's basically firing a bullet when it would make no difference.