Go Back  British Expats > Living & Moving Abroad > Australia
Reload this Page >

Aussie Dollar continues to fall - £1 buys $1.66

Aussie Dollar continues to fall - £1 buys $1.66

Old Jun 11th 2013, 12:50 pm
  #1  
Forum Regular
Thread Starter
 
Joined: Mar 2013
Location: London
Posts: 248
ANye is a jewel in the roughANye is a jewel in the roughANye is a jewel in the roughANye is a jewel in the rough
Talking Aussie Dollar continues to fall - £1 buys $1.66

Sterling has continued to be the most successful currency against the Australian Dollar, having been knocked by poor economic growth data. China is the main culprit as far as the Australian and New Zealand Dollars are concerned. A slowdown is starting to be felt and that impacts Aussie and Kiwi Exporters.

If you're looking at buying Australian Dollars using Sterling then it is worth considering a trade of at least a portion of your funds around the current market levels. If you would like to try and squeeze a bit more from the market, then I would strongly urge you to consider the placement of a stop loss order. A stop loss order is effectively a safety net, which would kick in should the market start to move against you once more. The highs we've seen are not expected to last long-term so buying sooner rather than later is key.
ANye is offline  
Old Jun 11th 2013, 11:01 pm
  #2  
Lost in BE Cyberspace
 
Joined: Dec 2010
Posts: 13,927
Beoz has a reputation beyond reputeBeoz has a reputation beyond reputeBeoz has a reputation beyond reputeBeoz has a reputation beyond reputeBeoz has a reputation beyond reputeBeoz has a reputation beyond reputeBeoz has a reputation beyond reputeBeoz has a reputation beyond reputeBeoz has a reputation beyond reputeBeoz has a reputation beyond reputeBeoz has a reputation beyond repute
Default Re: Aussie Dollar continues to fall - £1 buys $1.66

Originally Posted by ANye View Post
Sterling has continued to be the most successful currency against the Australian Dollar, having been knocked by poor economic growth data. China is the main culprit as far as the Australian and New Zealand Dollars are concerned. A slowdown is starting to be felt and that impacts Aussie and Kiwi Exporters.

If you're looking at buying Australian Dollars using Sterling then it is worth considering a trade of at least a portion of your funds around the current market levels. If you would like to try and squeeze a bit more from the market, then I would strongly urge you to consider the placement of a stop loss order. A stop loss order is effectively a safety net, which would kick in should the market start to move against you once more. The highs we've seen are not expected to last long-term so buying sooner rather than later is key.
Continued highs of what?? The aussie or the sterl. You mean aussie right but you mention buying aussie using sterl which suggests you think the sterl is currently high.
Beoz is offline  
Old Jun 11th 2013, 11:45 pm
  #3  
Forum Regular
 
ABCD......'s Avatar
 
Joined: Mar 2013
Posts: 255
ABCD...... has a reputation beyond reputeABCD...... has a reputation beyond reputeABCD...... has a reputation beyond reputeABCD...... has a reputation beyond reputeABCD...... has a reputation beyond reputeABCD...... has a reputation beyond reputeABCD...... has a reputation beyond reputeABCD...... has a reputation beyond reputeABCD...... has a reputation beyond reputeABCD...... has a reputation beyond reputeABCD...... has a reputation beyond repute
Default Re: Aussie Dollar continues to fall - £1 buys $1.66

Originally Posted by Beoz View Post
Continued highs of what?? The aussie or the sterl. You mean aussie right but you mention buying aussie using sterl which suggests you think the sterl is currently high.
I am glad you said that, I got so confused that I thought it was me having problems, and that I hadn't woken up yet, I was about to go back to bed and finish sleeping...

How do you view the change in the GBP-AUD values ?



or



Both graphs are right

Australian Exporters are getting happier again
ABCD...... is offline  
Old Jun 12th 2013, 1:04 am
  #4  
Lost in BE Cyberspace
 
Joined: Dec 2010
Posts: 13,927
Beoz has a reputation beyond reputeBeoz has a reputation beyond reputeBeoz has a reputation beyond reputeBeoz has a reputation beyond reputeBeoz has a reputation beyond reputeBeoz has a reputation beyond reputeBeoz has a reputation beyond reputeBeoz has a reputation beyond reputeBeoz has a reputation beyond reputeBeoz has a reputation beyond reputeBeoz has a reputation beyond repute
Default Re: Aussie Dollar continues to fall - £1 buys $1.66

Originally Posted by ABCD...... View Post
I am glad you said that, I got so confused that I thought it was me having problems, and that I hadn't woken up yet, I was about to go back to bed and finish sleeping...
D
So I'm one of these people (and it seems I'm in a minority) who likes to transfer Aussie in Sterl. (I earn Aussie). So it's recently been good (and it still is to be fair) but on current trends it appears the Aussie is slipping in its value against the sterling.

So what is the poster saying or suggesting?

If you're looking at buying Australian Dollars using Sterling then it is worth considering a trade of at least a portion of your funds around the current market levels.

The highs we've seen are not expected to last long-term so buying sooner rather than later is key.


This suggests the Aussie against the Sterling has bottomed out and will go back to the levels of a month or 2 ago.

Really .... that's not what the economists are staying ..... perhaps the poster knows something the economists don't.

Or is this just a cheap sales pitch?
Beoz is offline  
Old Jun 12th 2013, 2:39 am
  #5  
Forum Regular
 
Joined: Nov 2008
Posts: 195
scrudu is just really nicescrudu is just really nicescrudu is just really nicescrudu is just really nicescrudu is just really nicescrudu is just really nicescrudu is just really nicescrudu is just really nicescrudu is just really nice
Default Re: Aussie Dollar continues to fall - £1 buys $1.66

Originally Posted by Beoz View Post
This suggests the Aussie against the Sterling has bottomed out and will go back to the levels of a month or 2 ago.

Really .... that's not what the economists are staying ..... perhaps the poster knows something the economists don't.

Or is this just a cheap sales pitch?
Yeah that part had me confused too. I've been watching the EUR->AUD conversion rates for the past year as I want to transfer savings over. The rate is at its best in nearly 2 years, but still, economists are expecting the AUD to fall to .80USD (currently at 0.946426USD). If it gets anywhere near that, it's definitely worth waiting for a bit to convert from GBP/EUR to AUD.
scrudu is offline  
Old Jun 12th 2013, 3:09 am
  #6  
Lost in BE Cyberspace
 
Joined: Dec 2010
Posts: 13,927
Beoz has a reputation beyond reputeBeoz has a reputation beyond reputeBeoz has a reputation beyond reputeBeoz has a reputation beyond reputeBeoz has a reputation beyond reputeBeoz has a reputation beyond reputeBeoz has a reputation beyond reputeBeoz has a reputation beyond reputeBeoz has a reputation beyond reputeBeoz has a reputation beyond reputeBeoz has a reputation beyond repute
Default Re: Aussie Dollar continues to fall - £1 buys $1.66

Originally Posted by scrudu View Post
The rate is at its best in nearly 2 years.
For who ??? Which way ??? Needs some clarification sometimes (yes after reading a couple of times I figure you want to exchange Euro to AUD)
Beoz is offline  
Old Jun 12th 2013, 3:21 am
  #7  
snɐןɔ ʎʇıuɐs
 
GarryP's Avatar
 
Joined: Nov 2006
Posts: 6,558
GarryP has a reputation beyond reputeGarryP has a reputation beyond reputeGarryP has a reputation beyond reputeGarryP has a reputation beyond reputeGarryP has a reputation beyond reputeGarryP has a reputation beyond reputeGarryP has a reputation beyond reputeGarryP has a reputation beyond reputeGarryP has a reputation beyond reputeGarryP has a reputation beyond reputeGarryP has a reputation beyond repute
Default Re: Aussie Dollar continues to fall - £1 buys $1.66

Originally Posted by scrudu View Post
The rate is at its best in nearly 2 years, but still, economists are expecting the AUD to fall to .80USD (currently at 0.946426USD). If it gets anywhere near that, it's definitely worth waiting for a bit to convert from GBP/EUR to AUD.
Thing to realise is the Australian economy needs to closer to 0.65 (which it was at back in 2008/2009) in order to sort out the over-valuation of the currency and basic uncompetitiveness.

There's a long way for it to go to unwind the dutch disease - and it might get there if china goes into reverse or resources customers go elsewhere.
GarryP is offline  
Old Jun 12th 2013, 3:54 am
  #8  
Lost in BE Cyberspace
 
Joined: Dec 2010
Posts: 13,927
Beoz has a reputation beyond reputeBeoz has a reputation beyond reputeBeoz has a reputation beyond reputeBeoz has a reputation beyond reputeBeoz has a reputation beyond reputeBeoz has a reputation beyond reputeBeoz has a reputation beyond reputeBeoz has a reputation beyond reputeBeoz has a reputation beyond reputeBeoz has a reputation beyond reputeBeoz has a reputation beyond repute
Default Re: Aussie Dollar continues to fall - £1 buys $1.66

Originally Posted by GarryP View Post
Thing to realise is the Australian economy needs to closer to 0.65 (which it was at back in 2008/2009) in order to sort out the over-valuation of the currency and basic uncompetitiveness.
I think the poster dis-agrees with you Garry
Beoz is offline  
Old Jun 12th 2013, 4:11 am
  #9  
snɐןɔ ʎʇıuɐs
 
GarryP's Avatar
 
Joined: Nov 2006
Posts: 6,558
GarryP has a reputation beyond reputeGarryP has a reputation beyond reputeGarryP has a reputation beyond reputeGarryP has a reputation beyond reputeGarryP has a reputation beyond reputeGarryP has a reputation beyond reputeGarryP has a reputation beyond reputeGarryP has a reputation beyond reputeGarryP has a reputation beyond reputeGarryP has a reputation beyond reputeGarryP has a reputation beyond repute
Default Re: Aussie Dollar continues to fall - £1 buys $1.66

Originally Posted by Beoz View Post
I think the poster dis-agrees with you Garry
Well actually you could do a stop-loss even if you thought the price had further to move. However you have to make the gap between current and stop-loss price large enough that they can't catch you out by manipulating the price with a temporary 'blip' in the market.
GarryP is offline  
Old Jun 12th 2013, 8:55 am
  #10  
Lost in BE Cyberspace
 
OzTennis's Avatar
 
Joined: Nov 2003
Location: Scotland
Posts: 7,949
OzTennis has a reputation beyond reputeOzTennis has a reputation beyond reputeOzTennis has a reputation beyond reputeOzTennis has a reputation beyond reputeOzTennis has a reputation beyond reputeOzTennis has a reputation beyond reputeOzTennis has a reputation beyond reputeOzTennis has a reputation beyond reputeOzTennis has a reputation beyond reputeOzTennis has a reputation beyond reputeOzTennis has a reputation beyond repute
Default Re: Aussie Dollar continues to fall - £1 buys $1.66

OP is a dealer; figures with AUD being mid $1.60's vs £ rather than mid/high $1.40's that he may be able to drum up some business on the movement. It's a better time to change £'s into $'s than recently and there is also the possibility it might be better to get more £'s for your $'s now if the trend continues. Either way, looking for business.
OzTennis is offline  
Old Jun 12th 2013, 9:15 am
  #11  
Forum Regular
 
Joined: Jun 2006
Posts: 200
big_matt has much to be proud ofbig_matt has much to be proud ofbig_matt has much to be proud ofbig_matt has much to be proud ofbig_matt has much to be proud ofbig_matt has much to be proud ofbig_matt has much to be proud ofbig_matt has much to be proud ofbig_matt has much to be proud ofbig_matt has much to be proud ofbig_matt has much to be proud of
Default Re: Aussie Dollar continues to fall - £1 buys $1.66

You'd have to be a mug to transfer a significant part of your savings from £ to $ right now. The australian economy is heading into some serious headwinds just as the uk is starting to recover. There are many other factors of course but that points to the aussie falling further than it does it heading back to 70p. If the aussie breaks downwards through the 60p barrier it could keep heading south in a hurry.
big_matt is offline  
Old Jun 13th 2013, 2:23 am
  #12  
Migration Agent
 
Joined: May 2002
Location: Offices in Melbourne, Brisbane, Perth, Geelong (Australia), and Southampton (UK)
Posts: 6,452
Alan Collett has a reputation beyond reputeAlan Collett has a reputation beyond reputeAlan Collett has a reputation beyond reputeAlan Collett has a reputation beyond reputeAlan Collett has a reputation beyond reputeAlan Collett has a reputation beyond reputeAlan Collett has a reputation beyond reputeAlan Collett has a reputation beyond reputeAlan Collett has a reputation beyond reputeAlan Collett has a reputation beyond reputeAlan Collett has a reputation beyond repute
Default Re: Aussie Dollar continues to fall - £1 buys $1.66

... just as the uk is starting to recover ...


Hmmm ... that remains to be seen. One swallow doesn't make a summer.

Onwards!
Alan Collett is offline  
Old Jun 13th 2013, 2:27 am
  #13  
Proudly Deplorable
 
Amazulu's Avatar
 
Joined: May 2003
Location: Alloha snack bar
Posts: 24,219
Amazulu has a reputation beyond reputeAmazulu has a reputation beyond reputeAmazulu has a reputation beyond reputeAmazulu has a reputation beyond reputeAmazulu has a reputation beyond reputeAmazulu has a reputation beyond reputeAmazulu has a reputation beyond reputeAmazulu has a reputation beyond reputeAmazulu has a reputation beyond reputeAmazulu has a reputation beyond reputeAmazulu has a reputation beyond repute
Default Re: Aussie Dollar continues to fall - £1 buys $1.66

Originally Posted by Alan Collett View Post
... just as the uk is starting to recover ...


Hmmm ... that remains to be seen. One swallow doesn't make a summer.

Onwards!
UK and US may have some level of recovery but until they reduce their debt, and in the case of the UK restructure their economy, it's going to be weak

The hard decisions still need to be made
Amazulu is offline  
Old Jun 13th 2013, 4:16 am
  #14  
Ping pong PoM
 
alipally's Avatar
 
Joined: Aug 2006
Location: Melbourne
Posts: 1,537
alipally has a reputation beyond reputealipally has a reputation beyond reputealipally has a reputation beyond reputealipally has a reputation beyond reputealipally has a reputation beyond reputealipally has a reputation beyond reputealipally has a reputation beyond reputealipally has a reputation beyond reputealipally has a reputation beyond reputealipally has a reputation beyond reputealipally has a reputation beyond repute
Default Re: Aussie Dollar continues to fall - £1 buys $1.66

Just at this moment in time, I'd really like the value of the Aus to keep going down.
I'm currently trying to buy a house and that involves me tranfering GBP over, so it's purely selfish. However I can see that a weaker AUD has economic advantages here too because export of everything other than commodities is suffering and has been for a long time.

Also a big drop may stop some of the Automotive manufacturing rot thats really starting to set in... It now costs TWICE as much to make a car here as it does in Europe... and FOUR times the cost of manufacturing it in the SE Asia.... It's little wonder Ford are taking their ball home it just doesn't make sense to carry on.
alipally is offline  
Old Jun 13th 2013, 4:54 am
  #15  
Lost in BE Cyberspace
 
Joined: Dec 2010
Posts: 13,927
Beoz has a reputation beyond reputeBeoz has a reputation beyond reputeBeoz has a reputation beyond reputeBeoz has a reputation beyond reputeBeoz has a reputation beyond reputeBeoz has a reputation beyond reputeBeoz has a reputation beyond reputeBeoz has a reputation beyond reputeBeoz has a reputation beyond reputeBeoz has a reputation beyond reputeBeoz has a reputation beyond repute
Default Re: Aussie Dollar continues to fall - £1 buys $1.66

Originally Posted by alipally View Post
Also a big drop may stop some of the Automotive manufacturing rot thats really starting to set in... It now costs TWICE as much to make a car here as it does in Europe... and FOUR times the cost of manufacturing it in the SE Asia.... It's little wonder Ford are taking their ball home it just doesn't make sense to carry on.
It will take more than a currency change to prevent that. You might as well put that to bed now and move on.
Beoz is offline  

Contact Us - Archive - Advertising - Cookie Policy - Privacy Statement - Terms of Service - Do Not Sell My Personal Information -

Copyright © 2022 MH Sub I, LLC dba Internet Brands. All rights reserved. Use of this site indicates your consent to the Terms of Use.