What's your prediction on the Australian Dollar?

[vetrade]

so why is our govt so hell bent on us being in the black?

Our economy is so small in comparision that we don't wield any power over anybody of significance. We certainly don't have a big stick we can threaten anyone with and if it came to an economic showdown with anyone we would lose every time.

 

[rock86]

Explain how this is different to government debt ?

Central bank's are actually purchasing (mostly) government debt as part of QE, the idea is to increase bond prices and reduce yields. The institutions then selling those bonds improve their liquidity due to bond sales, and will look to invest in other assets with a greater return (so the money going into the economy) - that's the basic idea anyway.

 

[Toula92122]

I'm so relieved that I had two substantial term deposits mature early March and made the decision to transfer the money to our account in the US. In the time I made the decision I saw the Dollar go from 70 cents to the 65/63 which is what I was able to transfer at and was feeling mildly annoyed. Today I feel wildly euhphoric at getting that rate.

 

[JohnK]

I am rather surprised that you think sense has anything to do with it.

You're probably right. The AUD has been riding on emotion for a long time.

 

[cove]

$AUD on a fly tonight as I see it at 0.6148. Nice recovery from a week ago. If China starts recovering we could see it go higher.

 

[Flashback]

The GBP had some good gains against the USD and EUR on Friday and has held steady since. How's the AUD doing?

 

[cove]

$AUD is Waiting For Godot @Flashback And Godot is a no show ......

 

[VPS]

The GBP had some good gains against the USD and EUR on Friday and has held steady since. How's the AUD doing?

I have a substantial amount of pounds to move and not sure when to do it - I think I might move half of it today

 

[Flashback]

I have a substantial amount of pounds to move and not sure when to do it - I think I might move half of it today

Against the AUD it's been very steady anyway, not really been all that much movement. Revolut is a good option for very good rates and no fees, you should be able to open an account (app based) in Australia now. We use it to move GBP/EUR a lot.

 

[VPS]

Against the AUD it's been very steady anyway, not really been all that much movement. Revolut is a good option for very good rates and no fees, you should be able to open an account (app based) in Australia now. We use it to move GBP/EUR a lot.

I use Transferwise and they've been good - it's just knowing when to pull the trigger (so to speak)

 

[Flashback]

I use Transferwise and they've been good - it's just knowing when to pull the trigger (so to speak)

You seem to have spooked it, it's starting to fall further now!

 

[cove]

Lucky we aren’t doing anything overseas as we cannot get there. Our biggest issues are trying to make sure the cleaning/maintenance is getting done.
We Skyped into the Cove’s meeting yesterday and they have stopped the use of the pool, spa and gym in Los Angeles. All quite sensible and good thinking by the board of management. They have become acutely aware that some residents may start struggling with paying the monthly HOA dues so projects are getting deferred.

 

[SydneySwan]

You seem to have spooked it, it's starting to fall further now!

First rule of changing money is that the currency you are selling strengthens just after you have sold it.

Second rule. See first rule.

 

[serfty]

First rule of changing money is that the currency you are selling strengthens just after you have sold it.

Second rule. See first rule.

...

Third Rule, if you are bored with the first rule, don't look.

 

[cove]

We had our currency race up to 0.6350 agains the USD. I am hoping for more rises as we are about to need quite a lot of USDs.

 

[Cruiser Elite]

Positive signs

 

[cove]

That is a nice V recovery. We had been thinking we would have some large price changes coming but the recovery is making those changes more reasonable.
I would like the $AUD back at 0.68 against the $USD and 0.62 against the EURO. Our trade surplus was pretty good.

 

[Cruiser Elite]

Yep we had been advising retailers to expect 10% across the board increase at least - pain may not be quite so severe

 

[SydneySwan]

That is a nice V recovery.

It seems negatively correlated to COVID cases here - AUD declined as cases rose and has strengthened as they have fallen.

 

[daft009]

love the bounce back (euros for me).
i used this opportunity to increase prices by 5%, after 3yrs