What's your prediction on the Australian Dollar?

Jleno said:
.50% spread seems pretty good to me - where else do you get a better fx rate? (Ozforex spread is worse).

Now if you're using HSBC just for FX trading then you are much better off signing up to a FX trading platform and trade that way.
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Indeed, OzForex is about 1.25% IIRC.
 
I wouldn't write off HSBC. I'm not into trading but for the big one time transfers, I ended up doing them within HSBC. Their spread is variable depending on the day but I got almost exactly 1% from the mid-market rate, with no other fees. I couldn't find anywhere else that could match that for one time transfers.

I didn't do the pure currency account thing (because withdrawals from it are costly) but it didn't cost me anything to set up a US account while I was there, link it with my Aus account online in 'global view', do the one time transfer, and use my new US debit card for transactions and withdrawals over there like I would here. And now it is set up, I can use it every time I'm there without having to deal with exchange rates, etc. It also has the added benefit of working everywhere else where US Dollars are accepted (an astonishing amount of places), which was a handy unforeseen advantage.

I'm going to do the same thing for Euros in Spain next time I'm there.
 
At work we have been reducing our uncovered purchases by buying at 0.9050 so a savage slump won't affect us. A rise to 0.95 would be painful of course.
 
timster said:
Exactly. The top end of forecasts suggested it could rise to $0.97. Guess which forecast they chose to make a headline out of ?!
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Seems the change from broadsheet to tabloid included more than just the paper size.
 
I have looked at Citibank, HSBC and Ozforex when it comes to receiving USD from overseas. HSBC charge 1% of the incoming amount via TT into a USD account up to a maximum $200. Ozforex are free if the amount is over $5000 USD. When I received a USD TT through Citibank into my AUD account I got absolutely screwed with the FX rate they gave me, was about 4% worse than spot rate - decided from then never to receive money from overseas into that account. HSBC are better when receiving into an AUD account, usually 1%-1.5% from spot. Ozforex is usually 1%-1.25% from spot rate.
 
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Cruiser Elite said:
A pain to some cove but a pleasure to others - personally as an importer a buck 10 again would do me nicely.
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And 1.10 would be great for someone who plans to earn their money in Australia and spend it in Thailand for ~3-4 months of the year. ;)
 
I doubted that the currency could trade between 0.48 and 1.10 over the last 25 years but of course I was wrong. No one really knows what too many buyers nor too many sellers can do to a currency like the Australian dollar. There are no gurus and everyone just guesses and no one hears a bell ringing. All we did was use the highs to get set in things we wanted overseas during the turmoil.
The shopping and travel bargains are still out there for AFFers with the currency around 0.90 as long as they are using credit/debit cards that give fair exchange rates like Citi Plus for cash and 28 degrees for credit.
 
cove said:
The shopping and travel bargains are still out there for AFFers with the currency around 0.90 as long as they are using credit/debit cards that give fair exchange rates like Citi Plus for cash and 28 degrees for credit.
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Cash gives the same exchange rate as any credit card. Sometimes better.

There are no bargains for fixed cost items that continue to increase irrespective of the fluctuations in exchange rates.

Every one on AFF is different.
 
By fixed costs do you mean Thailand accommodation? Can you buy something there to stop the creep? I don't go to Thailand so I don't know what is possible.
 
cove said:
By fixed costs do you mean Thailand accommodation? Can you buy something there to stop the creep? I don't go to Thailand so I don't know what is possible.
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Accommodation and golf.

Dont want to break up investments in Australia as capital gains will hurt. If I was staying there > 1 month at a time then it would make sense to rent condo with cooking facilities.

Golf just keeps going up much. Not much you can do there.
 
And the little Aussie bleeder climbs back over .90US despite the renewed jawboning from RB - mind of its own doesn't it! Jawboning - god I hate that term
 
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We tried to put a floor under it by buying at .9020 with the next step order at .9120 to ensure it sails past .92 ten minutes later.
 
Cruiser Elite said:
And the little Aussie bleeder climbs back over .90US despite the renewed jawboning from RB - mind of its own doesn't it! Jawboning - god I hate that term
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The traders must be loving every time RBA open their mouth regarding the preferred range of the Aussie.
 
Craigie said:
94 sounds right, 25% chance higher. 75% it will fall from there.

Reasoning: it's a classic break-out(market goes down through 94 to 89) then pullback (up to 94) then continuation (at least 89, probably more mid 80's)

All IMO
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Posted on the 9/9/13

Well it got up to .9750 and then fell to .8650

What next?

Further falling. IMO
 

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