1.93's A$ to the Pound!!!
Jun 1st 2010, 10:55 pm
#1756
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Re: 1.93's A$ to the Pound!!!
£ has gained around 6 cents since this time last night!
There's 24cents left to $2 so only 4 more days like today would achieve $2 to the £. EASY!
Aussie is dropping against US$ and £ gaining today, the £ has been so over sold that it has to happen. Alot of people are holding profit after selling the £ down and as soon as there is a run of sellers to take profit it will be on the up.
Optimistic as to timing yes but it is only a matter of time!
There's 24cents left to $2 so only 4 more days like today would achieve $2 to the £. EASY!
Aussie is dropping against US$ and £ gaining today, the £ has been so over sold that it has to happen. Alot of people are holding profit after selling the £ down and as soon as there is a run of sellers to take profit it will be on the up.
Optimistic as to timing yes but it is only a matter of time!
Jun 2nd 2010, 5:59 am
#1757
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Joined: Feb 2008
Location: Hope Island, Gold Coast
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Re: 1.93's A$ to the Pound!!!
1.77 for now...
Jun 2nd 2010, 8:38 am
#1758
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Joined: Jan 2009
Location: Brisbane
Posts: 20,821
Re: 1.93's A$ to the Pound!!!
£ has gained around 6 cents since this time last night!
There's 24cents left to $2 so only 4 more days like today would achieve $2 to the £. EASY!
Aussie is dropping against US$ and £ gaining today, the £ has been so over sold that it has to happen. Alot of people are holding profit after selling the £ down and as soon as there is a run of sellers to take profit it will be on the up.
Optimistic as to timing yes but it is only a matter of time!
There's 24cents left to $2 so only 4 more days like today would achieve $2 to the £. EASY!
Aussie is dropping against US$ and £ gaining today, the £ has been so over sold that it has to happen. Alot of people are holding profit after selling the £ down and as soon as there is a run of sellers to take profit it will be on the up.
Optimistic as to timing yes but it is only a matter of time!
Jun 2nd 2010, 11:25 am
#1760
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Re: 1.93's A$ to the Pound!!!
China!
but they are forming a massive bubble and could stop ordering at anytime!
China have comntinued buying commodities from oz but nobody (USA, UK etc) has been buying anything like the level of finished products from china they were for at least 2 years and probably 2 years to come.
At some point and IMHO I think it will be soon, China will have to slow down and stop kidding themselves!
I can see 2.2 to the A$ within next year at some point (maybe a panic spike but hey I don't care as once money changed that's it!)
but they are forming a massive bubble and could stop ordering at anytime!
China have comntinued buying commodities from oz but nobody (USA, UK etc) has been buying anything like the level of finished products from china they were for at least 2 years and probably 2 years to come.
At some point and IMHO I think it will be soon, China will have to slow down and stop kidding themselves!
I can see 2.2 to the A$ within next year at some point (maybe a panic spike but hey I don't care as once money changed that's it!)
Jun 2nd 2010, 11:35 am
#1761
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Re: 1.93's A$ to the Pound!!!
Not the old "China is a bubble" issue again 
If you have that opinion, it would be a much more realistic approach to view China as a significant number of bubbles, or risks, of varying sizes and probabilities. So specify the ones you mean - you talk about US/UK not buying Chinese exports at the same rates. Perhaps (would like to see some evidence of that, and how big a decrease is it?), but there are plenty others out there picking up the slack.
Come on, the entire developed world is dependant on Chinese exports, so unless all the economies in the world crash at the same time, they're probably going to be OK. And of course, that just happened (GFC) and they seemed to survive pretty OK. Not to mention their fast-growing domestic market.
Steve2009s posts on the impact of the property sector on the Aus economy were a much more credible reason to be bearish on Australian economy, IMO.
If you have that opinion, it would be a much more realistic approach to view China as a significant number of bubbles, or risks, of varying sizes and probabilities. So specify the ones you mean - you talk about US/UK not buying Chinese exports at the same rates. Perhaps (would like to see some evidence of that, and how big a decrease is it?), but there are plenty others out there picking up the slack.
Come on, the entire developed world is dependant on Chinese exports, so unless all the economies in the world crash at the same time, they're probably going to be OK. And of course, that just happened (GFC) and they seemed to survive pretty OK. Not to mention their fast-growing domestic market.
Steve2009s posts on the impact of the property sector on the Aus economy were a much more credible reason to be bearish on Australian economy, IMO.
Jun 2nd 2010, 11:46 am
#1762
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Re: 1.93's A$ to the Pound!!!
Not the old "China is a bubble" issue again
If you have that opinion, it would be a much more realistic approach to view China as a significant number of bubbles, or risks, of varying sizes and probabilities. So specify the ones you mean - you talk about US/UK not buying Chinese exports at the same rates. Perhaps (would like to see some evidence of that, and how big a decrease is it?), but there are plenty others out there picking up the slack.
Come on, the entire developed world is dependant on Chinese exports, so unless all the economies in the world crash at the same time, they're probably going to be OK. And of course, that just happened (GFC) and they seemed to survive pretty OK. Not to mention their fast-growing domestic market.
Steve2009s posts on the impact of the property sector on the Aus economy were a much more credible reason to be bearish on Australian economy, IMO.
If you have that opinion, it would be a much more realistic approach to view China as a significant number of bubbles, or risks, of varying sizes and probabilities. So specify the ones you mean - you talk about US/UK not buying Chinese exports at the same rates. Perhaps (would like to see some evidence of that, and how big a decrease is it?), but there are plenty others out there picking up the slack.
Come on, the entire developed world is dependant on Chinese exports, so unless all the economies in the world crash at the same time, they're probably going to be OK. And of course, that just happened (GFC) and they seemed to survive pretty OK. Not to mention their fast-growing domestic market.
Steve2009s posts on the impact of the property sector on the Aus economy were a much more credible reason to be bearish on Australian economy, IMO.
Just my opinion based on experience, living in UK up to 2007/early 2008 the house prices were booming and economy in good shape and people spending like no tomorrow (on £billions worth of China produced products) my family included.
Then come the crunch people stopped spending drastically and it hasn't yet picked up to anything near what it was.
I know from friends in USA it's the same case there and no doubt Europe based on their situation. So not sure who is 'picking up that slack' as that accounts for the majority of the materialistic western world!
Jun 2nd 2010, 11:55 am
#1763
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Re: 1.93's A$ to the Pound!!!
Myself I'm currently living in the UK, having just come back from 7 yrs in the US.
The US suffered a real crash of living standards, driven by a major property crash (lets say an average of 30% drop in house prices, but as much as 50-70% in some areas, with of course millions of foreclosures). Consumer demand hardly blinked. Living there at the time, I was shocked to see retail figures dipping slightly, then returning to normal or above-normal levels. The US consumer is like a bear coming out of hibernation. It would take generations to change those habits.
The UK suffered a minor property price blip, but a more sustained recession because their economy is less resilient and diversified, and the govt had less trillions than the US to throw at the problem. The UK is now poised for a long period of some serious flatlining.
Plenty other growing countries all over the world are picking up this small slack as we speak. Increasingly so is the Chinese consumer.
The US suffered a real crash of living standards, driven by a major property crash (lets say an average of 30% drop in house prices, but as much as 50-70% in some areas, with of course millions of foreclosures). Consumer demand hardly blinked. Living there at the time, I was shocked to see retail figures dipping slightly, then returning to normal or above-normal levels. The US consumer is like a bear coming out of hibernation. It would take generations to change those habits.
The UK suffered a minor property price blip, but a more sustained recession because their economy is less resilient and diversified, and the govt had less trillions than the US to throw at the problem. The UK is now poised for a long period of some serious flatlining.
Plenty other growing countries all over the world are picking up this small slack as we speak. Increasingly so is the Chinese consumer.
Jun 2nd 2010, 12:13 pm
#1764
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Re: 1.93's A$ to the Pound!!!
Examples of Exports from our two Countries are:
United Kingdom
US 13.8%, Germany 11.5%, Netherlands 7.8%, France 7.6%, Ireland 7.5%, Belgium 5.3%, Spain 4.1%
Australia
Japan 22.2%, China 14.6%, South Korea 8.2%, India 6.1%, US 5.5%, NZ 4.3%, UK 4.2%
Jun 2nd 2010, 12:37 pm
#1765
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Re: 1.93's A$ to the Pound!!!
According to some official figures, Australian exports to China totalled 14.6% of the total exports, so if China dried up totally, it would hurt Australia.
Examples of Exports from our two Countries are:
United Kingdom
US 13.8%, Germany 11.5%, Netherlands 7.8%, France 7.6%, Ireland 7.5%, Belgium 5.3%, Spain 4.1%
Australia
Japan 22.2%, China 14.6%, South Korea 8.2%, India 6.1%, US 5.5%, NZ 4.3%, UK 4.2%
Examples of Exports from our two Countries are:
United Kingdom
US 13.8%, Germany 11.5%, Netherlands 7.8%, France 7.6%, Ireland 7.5%, Belgium 5.3%, Spain 4.1%
Australia
Japan 22.2%, China 14.6%, South Korea 8.2%, India 6.1%, US 5.5%, NZ 4.3%, UK 4.2%
Jun 2nd 2010, 12:42 pm
#1766
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Re: 1.93's A$ to the Pound!!!
He is indeed
Just one comment though, China doesn't need to totally dry up to affect Australia, any hint of slowing of their economy or tightening of their monetary policy usually causes a big hit in the AUD.
BTW its been a while since I said, I love being in Australia and wouldn't want to be anywhere else right now, despite the imbalances in the economy
Just one comment though, China doesn't need to totally dry up to affect Australia, any hint of slowing of their economy or tightening of their monetary policy usually causes a big hit in the AUD.
BTW its been a while since I said, I love being in Australia and wouldn't want to be anywhere else right now, despite the imbalances in the economy
Jun 2nd 2010, 12:46 pm
#1767
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Re: 1.93's A$ to the Pound!!!
He is indeed
Just one comment though, China doesn't need to totally dry up to affect Australia, any hint of slowing of their economy or tightening of their monetary policy usually causes a big hit in the AUD.
BTW its been a while since I said, I love being in Australia and wouldn't want to be anywhere else right now, despite the imbalances in the economy
Just one comment though, China doesn't need to totally dry up to affect Australia, any hint of slowing of their economy or tightening of their monetary policy usually causes a big hit in the AUD.
BTW its been a while since I said, I love being in Australia and wouldn't want to be anywhere else right now, despite the imbalances in the economy
Hindsight is a wonderful thing and if I'd known what would happen I would have left it there and been making nice interest in my St George online account!
Jun 2nd 2010, 7:21 pm
#1768
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Re: 1.93's A$ to the Pound!!!
Here's an interesting read, A$ strengh vs US$ not looking good!
Looks good for £ going up abit against the aussie!
http://www.dailyfx.com/forex/fundame...US_Dollar.html
Looks good for £ going up abit against the aussie!
http://www.dailyfx.com/forex/fundame...US_Dollar.html
Jun 2nd 2010, 11:09 pm
#1769
Joined: Jan 2005
Location: Asia Pacific
Posts: 4,922
Re: 1.93's A$ to the Pound!!!
Here's an interesting read, A$ strengh vs US$ not looking good!
Looks good for £ going up abit against the aussie!
http://www.dailyfx.com/forex/fundame...US_Dollar.html
Looks good for £ going up abit against the aussie!
http://www.dailyfx.com/forex/fundame...US_Dollar.html
Jun 3rd 2010, 6:38 am
#1770
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Location: Brisbane
Posts: 192
Re: 1.93's A$ to the Pound!!!
Your all thinkin about the chinese bubble bursting. Sure that could happen. Commodities are keeping the oz economy going and these combined with mr Rudds stimulas packages have kept oz out of recession. Mr Rudd has now spent all of oz reserve cash and now needs to recoup fast to keep oz out of the woods. Tax your main industry as much as he wants and your companies that harvest the gas, coal, iron ore will simply leave it in the ground. If they choose to not leave it in the ground and pass the cost on to the buyer (china) they will simply go to South Africa or Brazil to get it. Its basic shopping. Why buy a can of beans for 50p when you can get it for 10p down the road. If they choose to keep taking it out of the ground they will pass the cost onto workers who will recieve less money but have the problem of paying for houses and bills when the industry was booming. Perth is expensive to live. Why? You have people earning $120 a year for driving dumper trucks. Its very basic but just on a bigger scale.
