Exchange Rate on its way up?
Nov 22nd 2007, 12:59 am
#16
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Re: Exchange Rate on its way up?
I'm checking this hourly as well. We dropped our limit order from 2.5 to 2.4 recently. I wish I understood enough about economics to decide whether the election results will be good or bad for the exchange rate. My very naive assumption is that if Labour win the market might be jittery and the dollar might drop. Or am I talking crap? 
Nov 22nd 2007, 3:34 am
#17
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Nov 22nd 2007, 4:11 am
#18
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Re: Exchange Rate on its way up?
Just looked on Ozforex and the rate is up to 2.38, although on the quotes its only at 2.367.Any idea if this is going to get back up to the 2.40 mark??
I need to bring money over by the middle of January to pay for land but I'm just debating how long to sit it out for?
2.45 would be great but I'd settle for 2.40.
Nov 22nd 2007, 4:33 am
#20
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Re: Exchange Rate on its way up?
Any pointers gratefully received Manc1 to be honest, we were gutted when it dropped last time and we're quite nervous about changing the rate we've booked. Like everyone, we're keen to make the most of our initial cash as we're unlikely to be in this position again.
Nov 22nd 2007, 4:45 am
#21
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Re: Exchange Rate on its way up?
Nov 22nd 2007, 5:03 am
#22
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Re: Exchange Rate on its way up?
Banks look just a clued up , with one recommend buy, and one sell. One thinking it'll end the year at 95c USD and the other 84c USD
http://www.bloomberg.com/apps/news?p...currency_rates
http://www.bloomberg.com/apps/news?p...currency_rates
Nov 22nd 2007, 5:35 am
#23
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Re: Exchange Rate on its way up?
Bearing in mind the ozy has already dropped a few cents over the last few days it has a good chance of extending downtrend toward 2.40 before possibility of reversal.
Nov 22nd 2007, 8:56 am
#24
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Re: Exchange Rate on its way up?
It is extremely difficult to predict these moves and where we go from here. The is still a lot of uncertainty in the Global Equity markets, and the commodity currencies such as the Australian Dollar have been weakened by this risk aversion, rather than the moves being a sign of a strong £.
One tool you can use is a market order, or target rate, which is where you set a rate that you are happy with (a realistic one!). If it hits this then the currency is bought for you, and is a good way to hit the peaks in a volatile market. It does carry the risk that the rate may never reach your target (so be careful and keep an eye on the rates), but for those of you willing to take this gamble then it can be a useful option.
I hope this helps,
Cheers,
Nov 22nd 2007, 8:46 pm
#25
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Re: Exchange Rate on its way up?
Is it just me or does anyone else find watching the rates change frustratingly addictive?
Nov 22nd 2007, 10:14 pm
#26
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Re: Exchange Rate on its way up?
We have seen a massive move in the last 48 hours, with a low of just under 2.31 and a high of over 2.37. This comes as welcome news to those of you who have been following the markets recently, especially in light of the recent lows of around 2.24/2.25.
It is extremely difficult to predict these moves and where we go from here. The is still a lot of uncertainty in the Global Equity markets, and the commodity currencies such as the Australian Dollar have been weakened by this risk aversion, rather than the moves being a sign of a strong £.
One tool you can use is a market order, or target rate, which is where you set a rate that you are happy with (a realistic one!). If it hits this then the currency is bought for you, and is a good way to hit the peaks in a volatile market. It does carry the risk that the rate may never reach your target (so be careful and keep an eye on the rates), but for those of you willing to take this gamble then it can be a useful option.
I hope this helps,
Cheers,
Richard, HiFX.
It is extremely difficult to predict these moves and where we go from here. The is still a lot of uncertainty in the Global Equity markets, and the commodity currencies such as the Australian Dollar have been weakened by this risk aversion, rather than the moves being a sign of a strong £.
One tool you can use is a market order, or target rate, which is where you set a rate that you are happy with (a realistic one!). If it hits this then the currency is bought for you, and is a good way to hit the peaks in a volatile market. It does carry the risk that the rate may never reach your target (so be careful and keep an eye on the rates), but for those of you willing to take this gamble then it can be a useful option.
I hope this helps,
Cheers,
Richard, HiFX.
I agree Windsor. Very good points. For anybody coming over in a short period of time you have a tough decision. There's more volatility ahead.
Nov 23rd 2007, 12:06 am
#27
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Nov 23rd 2007, 1:56 am
#28
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Re: Exchange Rate on its way up?
I'd expect a large change in price tonight due to UK GDP (gross domestic product) results being released. Hopefully UK figures will be strong and result in a better exchange rate.
By Wednesday things may stabilise and hopefully I'll have the money in the bank here and 'made' enough to buy me a new Honda Fireblade!
Can but hope....
By Wednesday things may stabilise and hopefully I'll have the money in the bank here and 'made' enough to buy me a new Honda Fireblade!
Can but hope....
Nov 23rd 2007, 3:07 am
#29
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Re: Exchange Rate on its way up?
I'd expect a large change in price tonight due to UK GDP (gross domestic product) results being released. Hopefully UK figures will be strong and result in a better exchange rate.
By Wednesday things may stabilise and hopefully I'll have the money in the bank here and 'made' enough to buy me a new Honda Fireblade!
Can but hope....
By Wednesday things may stabilise and hopefully I'll have the money in the bank here and 'made' enough to buy me a new Honda Fireblade!
Can but hope....
Nov 23rd 2007, 5:20 am
#30
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Re: Exchange Rate on its way up?