Beachband

Maybe a silly question I know but only recently looking into this as I will be transferring maybe 20 or 25k from Ireland to Oz and looking at a few trends of the AUD high against the EURO.
Is there a certain time of the year though when the AUD rises?
Also does anyone know if you can use ukforex or hifx from Ireland?

dodge26

If you find that out let me know then we can all get rich...

lesleys

Wouldn't you be better off the euro rose against the AUD?

caliburn

A valid question, I think about it everyday. Most analysts think that Australian dollar is grossly overvalued at current rate and a correction is due. However, early signs of economic recovery is currently pushing the commodity prices higher, supporting the over-priced AUD. Adding to this is the Fed's plan for a relative interest rate hike. However,this bloated price of AUD is can not be sustainable in the medium term.....

In a nutshell, expect AUD to fall drastically in 1-2 years. However, in the short run, we might see further strength in AUD mainly due to the commodity and interest rate effect mentioned above. Basically, it will go up more before going down.

wishing

Thanks thats a great help

dodge26

People are allowed to give advice on what they think but this is only an opinion, as no one can tell you what is going to happen and this is a fact.

Budawang

That's rubbish. Which analysts are you talking about? If most analysts thought it was grossly overvalued it would already be falling.

I hate it when posters make themselves out to be experts when clearly they're not.

Budawang

Here are some interesting links on the Australian dollar:

http://seekingalpha.com/article/1509...down-and-under

http://seekingalpha.com/article/1425...tralian-dollar

http://seekingalpha.com/article/1532...lease-stand-up

Seems like no one really knows where the Aussie dollar is going. Using Purchasing Power Parity comparisons it would appear the Aussie is a bit overvalued against the US dollar, undervalued against the Swiss France and Japanese Yen and about the right value against the Euro and Canadian.

However, Purchasing Power Parity doesn't mean much for currency predictions. The fate of AUD is intimately linked to the fate of the Chinese economy. AUD is considered a "growth" currency which means expectations of a stronger than expected global recovery will mean a strong Aussie. If the world economy goes pear-shaped again, expect it to drop.

caliburn

I'm definitely not a currency expert and never claimed to be one. I'm just an ordinary would-be migrant who is waiting for the best time to transfer his savings to Australia. My views on the AUD were formed mostly by watching CNBC market updates from Sydney.

While no one can talk about currency movements with certainty, everyone will definitely agree on the point that you do lack maturity, especially in the way have expressed your views above. Go back to papa/mama and learn some manners.

Budawang

If you are willing to make sweeping, unsubstantiated claims on this forum then you should expect those claims to receive fair criticism. I would have had more respect for your comment that AUD is grossly overvalued if you had tried to back it up, even if I still disagreed with your statement. It is important to be careful when giving other people financial advice.

Perhaps I should have been a bit more diplomatic - my apologies.

eugene43

Why spoil a good thread by your reply. Best thing to do is say nothing as all you are doing is upsetting yourself. It is ther view as we all differ.

Beachband

I meant a weakening AUD against EURO.
Was looking at the historical data for the last year and it looks like it aint going to peak at 2.02 AUD against the euro for a long time to come.
Maybe that value wasnt that realistic to last.
Im looking to transfer about 20k or more, not sure how much I will need, but it is hovering around 1.70 AUD to 1 EURO now for awhile.

dodge26

Agreed. Just because someone has watched a bit of CNBC news can't really call themselves an expert. People might rely on this information.