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1.93's A$ to the Pound!!!

1.93's A$ to the Pound!!!

Old Dec 10th 2009, 9:18 am
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Default Re: 1.93's A$ to the Pound!!!

Originally Posted by koalakim
Maybe they should have watched the pennies in the first place and they might not be in this mess!

Ooo I would love to get my mitts on the UK finances and sort them out good and proper - I have an Economics A level so I'm well qualified
most of us have some cert with a letter on it but doesent mean you could do the job.
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Old Dec 10th 2009, 9:24 am
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Default Re: 1.93's A$ to the Pound!!!

It was meant in jest....!
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Old Dec 10th 2009, 10:27 am
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Default Re: 1.93's A$ to the Pound!!!

Originally Posted by koalakim
It was meant in jest....!
Sometimes humour just gets lost in emails and websites......

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Old Dec 10th 2009, 10:34 am
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Default Re: 1.93's A$ to the Pound!!!

Originally Posted by koalakim
Yep....thanks to Mr Darlings speech - he said a lot but didn't really say anything! Apparently he said he would make things better but didn't exactly explain how (probably because he has no clue!) so the markets got jittery again as the only answer was cutting public service wages and tax, tax and more tax ...the more taxes then the less people have to spend to get the country out of recession. Grrrrrr then today we have the BoE speech so as long as they don't mention the QE words then it might improve a tad....well we can only hope!

Fortunately our title has been delayed so hoping the pound will pick up in the NY!
Darling knows that his mob are going to lose the election, and he is just putting off the inevitable for the next mob to sort out.
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Old Dec 10th 2009, 10:43 am
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Default Re: 1.93's A$ to the Pound!!!

Originally Posted by Amazulu
Darling knows that his mob are going to lose the election, and he is just putting off the inevitable for the next mob to sort out.
another who beleives what the papers say. Read the beano instead more factual lol
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Old Dec 10th 2009, 2:59 pm
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Default Re: 1.93's A$ to the Pound!!!

Originally Posted by koalakim
It was meant in jest....!
I got it!

You are over qualified!!!
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Old Dec 16th 2009, 9:20 am
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Default Re: 1.93's A$ to the Pound!!!

Going Up
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Old Dec 16th 2009, 9:41 am
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Default Re: 1.93's A$ to the Pound!!!

The Australian Dollar extended losses after third-quarter Gross Domestic Product figures proved disappointing, leading the high-yielder to test below 0.90 against its US counterpart. The economy expanded 0.2% in the three months through September amid expectations for a 0.4% result and lower than the 0.6% gain recorded in the second quarter. The annual growth rate declined to 0.5%, whereas preliminary forecasts called for a slight increase to 0.7% from 0.6% in the previous period.

The details of the report also proved discouraging. Private demand proved weaker, with consumption gaining 0.7% and investment rising 0.4% versus 0.8% and 0.5% in the previous quarter, respectively. The external sector also disappointed as exports fell -2.26% while imports gained 5.78%. Meanwhile, government spending pushed higher, rising 6.2% and nearly tripling the second-quarter gain of 2.6%.

On balance, the outcome raises serious concerns about Australia’s ability to continue to outperform other top economies after the flow of stimulus cash dries up, leading traders to sharply reduce bets on further rate hikes from the Reserve Bank of Australia. Indeed, a Credit Suisse gauge of priced-in yield expectations now shows that the markets now see the probability of another 25 basis point rate increase in February at just 37% versus 80% at the beginning of the week.




Read more: DailyFX - Australian Dollar Drops as Disappointing GDP Weighs on Rates Outlook http://www.dailyfx.com/forex/market_...#ixzz0ZqL3FGXU
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Old Dec 16th 2009, 9:49 am
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Default Re: 1.93's A$ to the Pound!!!

[QUOTE]

If UK loses AAA credit rating....down deeper and down again..
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Old Dec 18th 2009, 12:43 am
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Default Re: 1.93's A$ to the Pound!!!

get me post #1000! well even after 1000 posts the £ hasn't got back to 1.93!!!

US markets taken hit today and A$ suffering, £ picked up good few cents in last couple of days.

A$ been riding on a knife edge at these highs I hope, few shocks to the financial system yet to come and people will realise that it ain't all rosey in Oz now big stimulus has pulled back!

A mate of mine in WA advised me last night he is getting ripped off left right and centre at mo on cost of living (mainly whinging about beer prices!) $40 a case of beer, $10-14 for a beer in a bar!!!!!

ASDA offering 3 cases for £20 and pint in my local £2.50.

Mark
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Old Dec 18th 2009, 12:48 am
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Default Re: 1.93's A$ to the Pound!!!

Pound is doing better because I finally managed to get to 1.80 the other day with a limit stop overnight....of course now it's going up a bit more..The Law of Sod!

Seems the pound is doing better because of weakness in A$ rather than an improvement in the British situation and the US$ is improving because of good data so investors are moving back to the US dollar.

Here's hoping that the pound will continue to do better as I've got what I need for the house over so there is a bit left over and hoping I'll claw back some on the last bit!

As you say Mr Cro a few things recently have taken the shine off the A$. You don't go out and drink here far tooooo expensive! However, I can buy a bottle of wine here cheaper than buying milk or bottle of fizzy drink - hic.....
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Old Dec 18th 2009, 12:54 am
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Default Re: 1.93's A$ to the Pound!!!

A$ goes down against US$ and then £ goes up against A$.

That's what's been happening last few days, OZ GDP lower than expected then US stockmarkets down as higher umemployed this week than expected.

Bad news in states for markets and investors move money out of 'risky' currencies like aussie and back to 'safe' US dollars.

Doesn't really matter what's happening in UK the strength of £ vs A$ is all about what A$ doing against yank$.

Last Oct when Lehman bank went bust £ shot to 2.60-2.70 aussie but it sank at same time from $2 yant to as low as 1.35.

I still (fool!) believe this thing aint over and there will be more shocks to take advantage of!
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Old Dec 18th 2009, 2:13 am
  #1003  
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Default Re: 1.93's A$ to the Pound!!!

Originally Posted by MrCro
A mate of mine in WA advised me last night he is getting ripped off left right and centre at mo on cost of living (mainly whinging about beer prices!) $40 a case of beer, $10-14 for a beer in a bar!!!!!
He is being ripped off !
$28 a carton of 24 x James Boag here and half that price for a beer in a bar.

The cocktails locally are about $10 though:

FRENCH MARTINI $10.00
Everybody's Favourite Cocktail with Chambord, Finlandia Vodka and Fresh Pineapple Juice

PINA COLADA $10.00
The tropical classic. Splashes of Malibu and Bacardi, lengthened with fresh Pineapple Juice.

STRAWBERRY DAIQUIRI $10.00 A hand full of Strawberries blended to perfection with Bacardi and Strawberry Liqueur.

We also have late night openings:
Hours:
Sunday to Tuesday 10.00am to 12 Midnight
Wednesday to Thursday 10.00am to 2.00am
Friday to Saturday 10.00am to 3.00am
 
Old Dec 18th 2009, 5:49 am
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Default Re: 1.93's A$ to the Pound!!!

Originally Posted by MrCro

On balance, the outcome raises serious concerns about Australia’s ability to continue to outperform other top economies after the flow of stimulus cash dries up, leading traders to sharply reduce bets on further rate hikes from the Reserve Bank of Australia. Indeed, a Credit Suisse gauge of priced-in yield expectations now shows that the markets now see the probability of another 25 basis point rate increase in February at just 37% versus 80% at the beginning of the week.
The start of Australia's Recession!
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Old Dec 18th 2009, 6:21 am
  #1005  
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Default Re: 1.93's A$ to the Pound!!!

Originally Posted by swigski
The start of Australia's Recession!
Bottom line is:

The annual growth rate was only 0.5%, whereas forecasters had expected about 0.7%.
Start of recession or forecasters getting it wrong

The probability of another 0.25% rate increase in February is now only 37% compared to 80% previously.
The probability of a March rate increase just got bigger
 

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