What's your prediction on the Australian Dollar?

[JohnK]

Make a big enough Capital gain JohnK and they will say "thank you very much...."

I may never have to worry. And if I do need to sell I may just sell it for less than market value. Wouldn't be the first time that has happened.

 

[cove]

For years we were the great acquirers where we kept the previous locations we used for our business. We have been quietly selling off and paying a bit of capital gains tax to simplify our lives.
Residential rentals line you up for land tax,shire rates and water rates that can generally mean it is a complete waste of time. Basically the local and state governments treat you to wealth taxes so you battle to make any satisfactory return on your investment.
It is time I bought some US dollars to help our currency go higher.

 

[Sprucegoose]

So the Reserve Bank wants it down, the travellers want it up and so we have a meeting of the minds....let's do lunch!

Importers want it up exporters want it down. Outbound Travellers are importers. Inbound travellers are exporters

 

[NFF]

Brics countries create $100bn bank to ease western grip on global finances | Global development | theguardian.com

It will probably have some impact on AUD.

 

[marki]

For years we were the great acquirers where we kept the previous locations we used for our business. We have been quietly selling off and paying a bit of capital gains tax to simplify our lives...........snip......
..............It is time I bought some US dollars to help our currency go higher.

Cove it's the other way around you would have to use your "US dollar holdings" to buy Australian dollars ...... therefore making the Oz dollar rarer i.e. Think of the Oz dollar as cup cakes on a shelf the more you buy the less there is .....for others to buy hence the shop owner adjusts the price to match the demand!


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[cove]

No marki the currency likes making us look foolish each time we buy so I think it is the opposite for us. Buy at 0.9350 and within seconds/minutes/hours later the currency can be higher. It is a market of buyers and sellers but the big boys seem to control the moves. Have never met a guru who only buys the highs in each cycle.
Cup cakes have a sugary top just like the highs for the Aussie dollar.

 

[Cruiser Elite]

Think of the Oz dollar as cup cakes on a shelf.

Where FOREX traders are involved best you use the analogy FRUIT CAKES rather than cup cakes!

 

[Tortuga]

Speaking of banks and FX are there any AFF's working in the banking industry that have a decent understanding of wire transfers? I was meant to receive a USD transfer from HSBC overseas intended for my HSBC USD account here in Australia and somewhere along the way an intermediary bank has decided to convert it to AUD's at an extremely poor rate (lost ~200AUD because of the poor FX rate they used)... Now HSBC Australia are giving me the run around saying it wasn't them. Any suggestions to help get my money back?

 

[marki]

Speaking of banks and FX are there any AFF's working in the banking industry that have a decent understanding of wire transfers? I was meant to receive a USD transfer from HSBC overseas intended for my HSBC USD account here in Australia and somewhere along the way an intermediary bank has decided to convert it to AUD's at an extremely poor rate (lost ~200AUD because of the poor FX rate they used)... Now HSBC Australia are giving me the run around saying it wasn't them. Any suggestions to help get my money back?

Fruit Cakes as per above better get writing ....

That's how I do it 100% success rate


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[Tortuga]

Fruit Cakes as per above better get writing ....

That's how I do it 100% success rate

I've been on the phone every day since Monday to them and as you know you end up talking to a person who has very little power to get information or do anything. Apparently cross department contact is limited to only email and responses take 1 day. If only there was a direct number I could call to talk to someone who could do something. Very frustrating. Might have to write a letter.

 

[cove]

At the office we got .9475 so the $AUD bounced for more than a micro second..

 

[Awesom Andy]

Speaking of banks and FX are there any AFF's working in the banking industry that have a decent understanding of wire transfers? I was meant to receive a USD transfer from HSBC overseas intended for my HSBC USD account here in Australia and somewhere along the way an intermediary bank has decided to convert it to AUD's at an extremely poor rate (lost ~200AUD because of the poor FX rate they used)... Now HSBC Australia are giving me the run around saying it wasn't them. Any suggestions to help get my money back?

Not sure on what system they use, although SWIFT is probably one of the most common. If they are indeed using SWIFT, ask for the written set of instructions. This should be available from the bank the request was made (most likely the HSBC overseas branch). From there, you would be able to see what the instructions were, i.e. whether the request was made in USD, or be converted to AUD, etc.

I'm not too familiar with the system though, but I believe that's how it works.

 

[robd]

Speaking of banks and FX are there any AFF's working in the banking industry that have a decent understanding of wire transfers? I was meant to receive a USD transfer from HSBC overseas intended for my HSBC USD account here in Australia and somewhere along the way an intermediary bank has decided to convert it to AUD's at an extremely poor rate (lost ~200AUD because of the poor FX rate they used)... Now HSBC Australia are giving me the run around saying it wasn't them. Any suggestions to help get my money back?

This has happened a couple of times when I have TT'd funds overseas. You can reject the payment, which sends it back to the remitter. The sender would then need to re-do the TT and add instructions to the bank "DO NOT CONVERT". Unfortunately, there will likely be fees for this, but you should check with the remitter. For future reference, I add this instruction to all funds transfers as a matter of course.

 

[Cruiser Elite]

Can somebody please get on the blower to those clowns at RBA and the imbesilic currency guessers and tell them take the rest of the year off - the little Ozzie bleeder is right where it should be!

Burgernomics: Aussie dollar is just right, says the Big Mac index

 

[marki]

Oh I read about this and the iPadnomics (iPad index) that CBA did in April, it also had the dollar at the right( correct) level. We were the 13th cheapest country to buy an iPad


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[whatmeworry]

Talk that RBA will cut rates later this year.

RBA may be forced to cut rate further: Goldman Sachs

 

[whatmeworry]

More predications the Aussie will fall soon.
$A's high times almost done

 

[cove]

It costs money to hold cover against the US dollar due to the interest rate differentials but we have chosen to take cover up to .9475.
Sad faces if the $AUD sails higher in the next 90 days.

 

[kt_kez]

Didn't they also predict a fall in aud for the Brazil World Cup? I'm not sure who to believe !

 

[cove]

Trust yourself and ignore all others!