What's your prediction on the Australian Dollar?

[blackcat20]

I love that song

Happy to see 75c as we have a few US things to pay for.

 

[get me outta here]

Re "independent money changing bureaus", what might be some of their names please?

I found once about 12 months ago, when I did a quick visit comparison of the PO, the credit union, Travelex and FC, by asking what would I get after all charges for AUD1000, it was easy to see any hidden costs. I couldn't include Amex as they'd just moved away.

Interesting too Travelex and FC immediately suggested that they'd negotiate when I told them what I was doing.

 

[Dr Ralph]

Travelex would have reasonable rates if they didn't charge commission. Actually, I find their rates are not fantastic.

Many independent money changing bureaus with no commission offer better deals. The headline rate may be lower, but after you factor in commission, you get better deal overall.

You can purchase from travelex and pay no commission.

'[FONT=&quot]There's no commission when you buy online with us!'[/FONT]

And by using cashrewards you can get 1% cash back.

Referral links here:

http://www.australianfrequentflyer.com.au/community/referral-offers/cashrewards-referrals-78303.html

 

[clazman]

Slightly off topic, if you wanted to change $500K to CAD$, where, how would you transfer it?

 

[defurax]

Slightly off topic, if you wanted to change $500K to CAD$, where, how would you transfer it?

I would do it with OFX (Australia) or CanadianForex (if you already have a bank account in Canada), I just got a spot quote for AUD500K to CAD at 0.9783 so a 0.68% commission.
Or you could use NAB for 20K more in commission:shock:

 

[anat0l]

You can purchase from travelex and pay no commission.

'[FONT="]There's no commission when you buy online with us!'[/FONT]

And by using cashrewards you can get 1% cash back.

Referral links here:

http://www.australianfrequentflyer.com.au/community/referral-offers/cashrewards-referrals-78303.html

Interesting. Those rates are much better than the rates at their stores. And with no commission, even without the 1% cashback, that's quite competitive. Might have to consider this the next time I need currency.

 

[vetrade]

Travelex would have reasonable rates if they didn't charge commission. Actually, I find their rates are not fantastic.

Many independent money changing bureaus with no commission offer better deals. The headline rate may be lower, but after you factor in commission, you get better deal overall.

The reason I specified "online" was, as Dr Ralph pointed out, because no commission is charged. Buying across the counter at Travelex is certainly not the way to go. I bought USD a couple of months ago and didn't find any of the multiple quotes I got was better than Travelex and the convenience of picking up at my local PO sealed the deal for me. NAB, ANZ & WPAC were all substantially worse. The rate I got was a little better because of buying > $USD2K.

 

[Jeffrey O'Neill]

The economists have a sorry record.

Isn't the economy a story of (eventual) "unexpected" events?

Who's not to say that Australia won't have another commodities boom, or a boom in some other sector that pushes up our dollar/

There's not going to be another commodities boom for a generation or more, and nothing like increase in demand over a short period that was caused by china. there is far to much capacity in pretty much all bulk commodities.

the fundamentals of the strayan economy stink. we have a private sector increasing debt to shovel into house price rises, a federal govt running further into debt, half the states now with budget deficits, and it's only a mater of time before those lending to us decide to jack up interest rates because we're too big a risk (most likley this occurs when the AAA is lost by the Feds)

don't be fooled by the recent turn around in the ToT. It was due to china restricting local production too much. I/O and coking coal prices are dropping, and thermal coal is falling faster due to a more saturated market.

once the housing construction industry slows, the job loses will be huge, worse than from the car industry closing.

 

[Radio8tiv]

The reason I specified "online" was, as Dr Ralph pointed out, because no commission is charged. Buying across the counter at Travelex is certainly not the way to go. I bought USD a couple of months ago and didn't find any of the multiple quotes I got was better than Travelex and the convenience of picking up at my local PO sealed the deal for me. NAB, ANZ & WPAC were all substantially worse. The rate I got was a little better because of buying > $USD2K.

I often go to travel money oz, their rates are woefull but if you sweet talk them they will match online rates and I use Travelex online rate of $2k plus (sometimes a better rate) they just apply the new rate and sometimes better it. If you go to Travelex instore they won't even match their own online rate.

 

[Cheatah]

There's not going to be another commodities boom for a generation or more, and nothing like increase in demand over a short period that was caused by china. there is far to much capacity in pretty much all bulk commodities.

the fundamentals of the strayan economy stink. we have a private sector increasing debt to shovel into house price rises, a federal govt running further into debt, half the states now with budget deficits, and it's only a mater of time before those lending to us decide to jack up interest rates because we're too big a risk (most likley this occurs when the AAA is lost by the Feds)

don't be fooled by the recent turn around in the ToT. It was due to china restricting local production too much. I/O and coking coal prices are dropping, and thermal coal is falling faster due to a more saturated market.

once the housing construction industry slows, the job loses will be huge, worse than from the car industry closing.

Good overview. Given how depressed the British pound is it might be a good time for me to transfer some AUD into GBP !

 

[MEL_Traveller]

Re "independent money changing bureaus", what might be some of their names please?

I found once about 12 months ago, when I did a quick visit comparison of the PO, the credit union, Travelex and FC, by asking what would I get after all charges for AUD1000, it was easy to see any hidden costs. I couldn't include Amex as they'd just moved away.

Interesting too Travelex and FC immediately suggested that they'd negotiate when I told them what I was doing.

I like UAE exchange - great rates. Went there yesterday and the queue was out the door! https://www.uaeexchange.com/aus/ No fees or commission.

 

[whatmeworry]

Aussie Dollar up again because of Trump comments.

[h=1]Australian dollar jumps after Trump says strong greenback is 'killing' US[/h]

Australian dollar jumps after Trump says strong greenback is 'killing' US

 

[codash1099]

I've said it before (maybe even in this thread) but anyone who thinks they can predict the $A should be in an asylum (say hello to Donald while you're in there!)

 

[drron]

I have switched to Travelex online in the last 12 months.Still look elsewhere but they have been the best up here.

But reminiscing-on our first trip to the USA we got $1.30 for the little aussie battler.
Also $6 in SIN and 300 yen.

 

[11sjw]

I've said it before (maybe even in this thread) but anyone who thinks they can predict the $A should be in an asylum (say hello to Donald while you're in there!)

Perhaps those that thought "It's my turn" and "You have to vote for me because if you don't you're racist/sexist/misogynist or a deplorable" as the two main campaign strategies might be in the asylum ahead of the guy that trumped them.

 

[codash1099]

Perhaps those that thought "It's my turn" and "You have to vote for me because if you don't you're racist/sexist/misogynist or a deplorable" as the two main campaign strategies might be in the asylum ahead of the guy that trumped them.

My parenthetic remark referred to the unprecedented comments coming from the President-elect's quarters that drove down the value of the US dollar.

How does your comment relate to this thread?

 

[cove]

Some of Australia's commodities have firmed so the $AUD has moved a bit higher. If commodities stay strong we could see our AUD stay up for a while.

 

[infinity]

Last night we had an overnight order on to write a currency option.
Our price got triggered by the overnight surge so we will get USD at 0.75 around June this year.

If the currency surges to 0.80 before June,2017 you will know that was a mistake.

Can't see that happening but 0.75 is a fair price

 

[Danger]

"Most expect a retreat in the Australian dollar form 76 US cents to around 72 US cents. Only one of the panel expects the dollar to move a long way above where it finished 2016 . . . who predicts 95 US cents.

Scope 2017 economic survey: Forecasting panel predicts steady rates in a slightly better year ahead

 

[MikeG]

Aussie Dollar up again because of Trump comments.



Australian dollar jumps after Trump says strong greenback is 'killing' US

Er, I don't think so - we are up against the USD and the Euro so its simply because of better trade (+3.51B, ahead of the expected +2.00B) data for Australia and mixed US economic releases.
The AUD is also rallying against the Euro due to declines in German economy figures.

I'm an importer, so I watch what's happening. It's an interesting coincidence that this happens when this clown is made president

When the US denigrates into civil war, watch the USD plummet then.

M