Monster Cat

Hi

It seems the official exchange rate has jumped from 2.40 last night(which I was quite pleased with!) to 2.45 today alone!!!!! It's been 2.36/2.37 for ages now!
Anyone know what's going on in the world markets?

At this rate it's gonna hit 2.50 before xmas for sure!
Thanks
Jim

Jimbo9

Sorry, just seen your post now. Seems it was down to weak retail sales figures (-0.7%) and building approvals (-2.4%) for october. Rate hike in january now seen as unlikely removing support for A$

stephenwhite68

Jimbo ...

Does this mean that it will continue to rise or this is the best ?

S

wmoore

It could make a big difference to someone heading out soon.....
Anyway, I see you're a newbie who has crept in without introducing himself. Come on Jim, tell us your story and why "this cat's got claws". We're all dying to know!

Lisa & Rich

I think this may have something to do with it. Treasurer Paul Costello is concerned about the impact of a high AUD on exports and the size of the current account deficit.

Heres the link.

http://www.theaustralian.news.com.au...55E601,00.html


Lisa

mikeburt

reading the Courier online it suggests that the 406billion dollar foreign debt has been a major factor-the dollar would appear to be over valued and thus exports have been hit rather heavily-so perhaps $2.50+ is on the cards in the short term,cheers!

Monster Cat

All cats have claws! It's a factual statement...

Hi, I'm Jim and live in Adelaide with a monster cat and all my savings are still in the Uk! I enjoy music, golf and fishing. sometimes I've been known to frequent tupperware parties and I enjoy the smell of freshly ground coffee.
I love surfing and swimming and once won a gold medal in my schools 100 metre final. i.e an all round sporting God !
Hi everyone!
Jim

Monster Cat

No worries, enjoyed reading your post - 2.50 here we come! Thing is, will I ever have the balls and actually bite the bullet and change my cash up! Been here 5 months and got greedy - The recent lull has taught me a lesson though!
Thanks
Jim

Jimbo9

I agree with monster cat and think we'll see 2.50 soon, but giving advice isn't easy - as nobody knows the future and the A$/£ rate must be one of the most difficult to forecast. If I had my house sale funds available now I would look to exchange 10-20% @ 2.50 and see what happens. If it goes wrong the other way i'd stop myself out at 2.25. (and let my wife beat me up !)

I just got some great news - we have got places accepted for our 2 girls in a small private church school in Sydney - it had been a major worry for us. With that sorted we'll be looking to move in January as the new school year starts on Feb 1st

Rgds Jim

stephenwhite68

Great news for you, one less thing to worry about
now lets hope we see 2.50+ and we can all be happy

CadburysFingers

It reached 2.699 only four months ago, so anythings possible

stevereed

2.46 now

stephenwhite68

where ?

all i can get is 2.42 !!!!!!!!!!!!!!!!!!!!!!!!!!

JohnAndNetta

Bloomberg always gives a good write up - here's the latest excerpt:

************************************************** ***
Nov. 30 (Bloomberg) -- The Australian dollar had its biggest decline in three months after government reports showed retail sales unexpectedly fell in October and approvals for building dropped to their lowest in three-years.

The reports also prompted futures traders to reduced bets that the Reserve Bank of Australia will raise interest rates next year. Government bond yields fell to their lowest since July 2003. Australia's dollar is the biggest decliner of 16 major currencies tracked by Bloomberg data in the past five days after economists lowered their forecast for growth.

``This will put the Australian dollar on the back foot,'' said Greg Gibbs, a Sydney-based senior currency strategist at RBC Capital Markets. ``The risks are that it will fall further in the near-term as people begin to question the growth outlook.''
************************************************** *****

There's quite a lot more about it - but it gets a bit too technical for me. Whenever I see a fluctuation on XE.COM I'm always straight onto the bloomberg site for a comprehensive answer. Looks like 2.46 now.....

Regards
Netta

Jimbo9

The rate is whippy today, up and down like a whore's drawers as they say !
2.4587/2.4594 is the two way bank quote.
For rates that we as individuals can get I can see 2.4554 available on http://www.elynchfx.com/ (You may have to register)

Has anyone ever used them?
To be only 0.3 of a cent from the interbank rate is the best i've seen

Jim