0zzie dollar set to fall!
Jul 31st 2003, 3:36 pm
#1
Guest
Posts: n/a
0zzie dollar set to fall!
Ozzie dollar set to fall sharply over the next couple of week's , may be ideal time for some of you folk's to cash in quick. Don,t think situation will last for long!
ps Have seeked guidence from other plumber's on this matter
Only the plumber.
ps Have seeked guidence from other plumber's on this matter
Only the plumber.
Last edited by plumber39; Jul 31st 2003 at 3:52 pm.
Jul 31st 2003, 4:08 pm
#2
Sydneysider and lovin it!
Joined: Nov 2002
Location: Sydney - Eastern Subs
Posts: 225
Re: 0zzie dollar set to fall!
Originally posted by plumber39
Ozzie dollar set to fall sharply over the next couple of week's , may be ideal time for some of you folk's to cash in quick. Don,t think situation will last for long!
ps Have seeked guidence from other plumber's on this matter
Only the plumber.
Ozzie dollar set to fall sharply over the next couple of week's , may be ideal time for some of you folk's to cash in quick. Don,t think situation will last for long!
ps Have seeked guidence from other plumber's on this matter
Only the plumber.
Was it a "leaked" report you read?
Jul 31st 2003, 4:22 pm
#3
Guest
Posts: n/a
Spoke to Bush senior ( ex-plumber before the War)
oh! and being US President.
oh! and being US President.
Jul 31st 2003, 4:22 pm
#4
I'm lovin' it
Joined: Feb 2003
Location: Brisbane
Posts: 1,525
Re: 0zzie dollar set to fall!
Originally posted by plumber39
Ozzie dollar set to fall sharply over the next couple of week's , may be ideal time for some of you folk's to cash in quick. Don,t think situation will last for long!
ps Have seeked guidence from other plumber's on this matter
Only the plumber.
Ozzie dollar set to fall sharply over the next couple of week's , may be ideal time for some of you folk's to cash in quick. Don,t think situation will last for long!
ps Have seeked guidence from other plumber's on this matter
Only the plumber.
Jul 31st 2003, 4:25 pm
#5
High in the Dandenongs
Joined: Apr 2003
Location: Listening to Puffing Billy
Posts: 9,183
Re: 0zzie dollar set to fall!
Oh god don't you know anything. This is why (I'll keep it simple)
:lecture: :lecture:
Now really if anyone can work this out let me know
:lecture: :lecture:
THE dollar continued to slide lower as a resilient US currency weighed on it, losing a further half US cent by the close of today's business.
At 1700 AEST the dollar was trading at $US0.6522/27 compared with yesterday's close of 0.6587/92.
It has shed US1.25c over the past two days.
The currency was being buffeted by technical manoeuvres, MMS International strategist Glen Bull said.
He said the US dollar had strengthened overnight and the dollar fell to a low of $US0.6512.
The currency hit this low again during the local session as traders tried to trigger stops loss sell orders at $US0.6510.
"There's good buying down there and those stops were protected but I think they'll give out in offshore trade," Mr Bull said.
He said the high reached today was $US0.6540, the same level the unit had failed to breach in yesterday's trading.
"The correction lower has further to run yet," he said.
"There's more upside for the US dollar so Aussie is still heading lower for the time being.
"It rewrote the overnight low but it's looking heavy and exposed to the downside as we head into European trade."
Data on the day reaffirmed the relatively strong local economy and further reduced calls for a rate cut next week when the Reserve Bank board meets but the currency market's attention was fully focussed on the US dollar's performance.
The Australian Bureau of Statistics reported June retail sales rose a robust 1.1 per cent, seasonally adjusted, while the Reserve Bank of Australia said that private sector credit, particularly housing lending, continued to rise sharply.
Private sector credit rose 1.3 per cent in June, adjusted, while housing credit was up 1.8 per cent.
"We think the charts continue to be the best signposts for currency markets at the moment," National Australia Bank head of market strategy Greg McKenna said.
And he also said the technical picture indicated the Australian dollar would fall further, possibly making a full retracement of its drop 10 days ago to around $US0.6440.
At 1600 AEST the Reserve Bank of Australia Trade Weighted Index was at 58.3 points from 58.8 at yesterday's close
At 1700 AEST the dollar was trading at $US0.6522/27 compared with yesterday's close of 0.6587/92.
It has shed US1.25c over the past two days.
The currency was being buffeted by technical manoeuvres, MMS International strategist Glen Bull said.
He said the US dollar had strengthened overnight and the dollar fell to a low of $US0.6512.
The currency hit this low again during the local session as traders tried to trigger stops loss sell orders at $US0.6510.
"There's good buying down there and those stops were protected but I think they'll give out in offshore trade," Mr Bull said.
He said the high reached today was $US0.6540, the same level the unit had failed to breach in yesterday's trading.
"The correction lower has further to run yet," he said.
"There's more upside for the US dollar so Aussie is still heading lower for the time being.
"It rewrote the overnight low but it's looking heavy and exposed to the downside as we head into European trade."
Data on the day reaffirmed the relatively strong local economy and further reduced calls for a rate cut next week when the Reserve Bank board meets but the currency market's attention was fully focussed on the US dollar's performance.
The Australian Bureau of Statistics reported June retail sales rose a robust 1.1 per cent, seasonally adjusted, while the Reserve Bank of Australia said that private sector credit, particularly housing lending, continued to rise sharply.
Private sector credit rose 1.3 per cent in June, adjusted, while housing credit was up 1.8 per cent.
"We think the charts continue to be the best signposts for currency markets at the moment," National Australia Bank head of market strategy Greg McKenna said.
And he also said the technical picture indicated the Australian dollar would fall further, possibly making a full retracement of its drop 10 days ago to around $US0.6440.
At 1600 AEST the Reserve Bank of Australia Trade Weighted Index was at 58.3 points from 58.8 at yesterday's close
Last edited by hevs; Jul 31st 2003 at 4:30 pm.
Jul 31st 2003, 5:14 pm
#6
I'm lovin' it
Joined: Feb 2003
Location: Brisbane
Posts: 1,525
Thanks for your insight H.Garrett. But have you really considered all the facts.
With lacklustre performances on the stockmarket and low yields in the bond market, hedge funds and traders have been hunting for yields. This has resulted in squaring of carry trades and could lead to corrections in the AUD.
With the AUD currency market being closley correlated to gold and commodities which in turn tend to rise in times of global uncertainty there has been much rallying in recent times.
However, at the moment with global equity markets rallying and increased Japanese repatriation there could be a correction in sight.
Please feel free to up date me further.
Regards,
Chippy
With lacklustre performances on the stockmarket and low yields in the bond market, hedge funds and traders have been hunting for yields. This has resulted in squaring of carry trades and could lead to corrections in the AUD.
With the AUD currency market being closley correlated to gold and commodities which in turn tend to rise in times of global uncertainty there has been much rallying in recent times.
However, at the moment with global equity markets rallying and increased Japanese repatriation there could be a correction in sight.
Please feel free to up date me further.
Regards,
Chippy
Jul 31st 2003, 5:22 pm
#7
Banned
Joined: Aug 2002
Posts: 7,613
Originally posted by chippy
Thanks for your insight H.Garrett. But have you really considered all the facts.
With lacklustre performances on the stockmarket and low yields in the bond market, hedge funds and traders have been hunting for yields. This has resulted in squaring of carry trades and could lead to corrections in the AUD.
With the AUD currency market being closley correlated to gold and commodities which in turn tend to rise in times of global uncertainty there has been much rallying in recent times.
However, at the moment with global equity markets rallying and increased Japanese repatriation there could be a correction in sight.
Please feel free to up date me further.
Regards,
Chippy
Thanks for your insight H.Garrett. But have you really considered all the facts.
With lacklustre performances on the stockmarket and low yields in the bond market, hedge funds and traders have been hunting for yields. This has resulted in squaring of carry trades and could lead to corrections in the AUD.
With the AUD currency market being closley correlated to gold and commodities which in turn tend to rise in times of global uncertainty there has been much rallying in recent times.
However, at the moment with global equity markets rallying and increased Japanese repatriation there could be a correction in sight.
Please feel free to up date me further.
Regards,
Chippy
Jul 31st 2003, 5:30 pm
#8
I'm lovin' it
Joined: Feb 2003
Location: Brisbane
Posts: 1,525
Originally posted by pleasancefamily
Chippers- don't neglect the 'we found him, tried to arrest him for his crimes, but had to shoot Saddam in the head about 2 inches away whilst escaping' effect in the next few days/ weeks. Dollar positive.
Chippers- don't neglect the 'we found him, tried to arrest him for his crimes, but had to shoot Saddam in the head about 2 inches away whilst escaping' effect in the next few days/ weeks. Dollar positive.
Jul 31st 2003, 5:31 pm
#9
Guest
Posts: n/a
Look all the analyst's got it wrong, wait and see plumber right on this one. No doubt the expert's will back me up when they get home!
ps Chippy, ok so you can pull rank here, but in oz we will all be equal .
plumber with crystal ball,s
ps Chippy, ok so you can pull rank here, but in oz we will all be equal .
plumber with crystal ball,s
Jul 31st 2003, 5:35 pm
#10
Banned
Joined: Aug 2002
Posts: 7,613
Thing is,Chippers, if you were pushing 70 and your two boys had just been killed and your country was obviously dead set against you and your evil ways and those Yanks were homing in: would you try very hard to avoid the tablets/ Scotch outcome. I reckon we've got another suicide coming here, effect on the USD will be positive.
Jul 31st 2003, 8:16 pm
#11
Forum Regular
Joined: Mar 2003
Posts: 168
Some experts believe the Aus interest rate may be cut tomorrow.
If it does get cut then the $AU will drop. (in value)
HOPEFULLY
PC
If it does get cut then the $AU will drop. (in value)
HOPEFULLY
PC
Aug 1st 2003, 2:02 am
#12
Banned
Joined: Aug 2002
Location: Perth Arse end of the planet
Posts: 7,037
Re: 0zzie dollar set to fall!
Originally posted by plumber39
Ozzie dollar set to fall sharply over the next couple of week's , may be ideal time for some of you folk's to cash in quick. Don,t think situation will last for long!
ps Have seeked guidence from other plumber's on this matter
Only the plumber.
Ozzie dollar set to fall sharply over the next couple of week's , may be ideal time for some of you folk's to cash in quick. Don,t think situation will last for long!
ps Have seeked guidence from other plumber's on this matter
Only the plumber.
A bad case of water on the brain , but please buy the rubber dollar a rush will make it climb higher.
Aug 1st 2003, 8:36 am
#13
Guest
Posts: n/a
Forget the dollar,you,ve got more important thing's too sort out like getting rid of some of that funiture. You won't need that much for the shed your be buying back here in the UK!
All the best plumber.
All the best plumber.
Aug 1st 2003, 10:08 am
#14
BE Enthusiast
Joined: Sep 2002
Location: Mornington, Melbourne
Posts: 419
Here a 1yr graph of the dollar against the pound. Hoping for a U turn pretty quickly.
:scared:
:scared:
Aug 3rd 2003, 11:59 pm
#15
Banned
Joined: Aug 2002
Location: Perth Arse end of the planet
Posts: 7,037
Originally posted by plumber39
Forget the dollar,you,ve got more important thing's too sort out like getting rid of some of that funiture. You won't need that much for the shed your be buying back here in the UK!
All the best plumber.
Forget the dollar,you,ve got more important thing's too sort out like getting rid of some of that funiture. You won't need that much for the shed your be buying back here in the UK!
All the best plumber.
The way the rubber dollar is bouncing up and the housing market is rising in Australia you should see if your dreams are not turning to dust.