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Euro Vs. Dollar advice?

  • 23-01-2015 6:58pm
    #1
    BMmeow
    Registered Users Posts: 82 ✭✭


    Not sure what forum to put this in, so apologies if misplaced!


    I know the basics about the euro dropping in price but not really sure how to interpret the info, if anyone can help!
    Im going to America in May, and wondering if anyone has any clue about the recent plummeting of the euro against the dollar? Its reached an all time low since 2003, and I see economists are expecting it to keep dropping until it reaches 1.10$..
    Im wondering if i should buy dollars now, incase it drops more?
    Will the new ECB quantitative easing in the euro zone make an impact on this, and soon?

    Thanks! Sorry if Im coming across as clueless on this matter!
    Tagged:


Comments

  • #2
    Stinicker
    Banned (with Prison Access) Posts: 7,102 ✭✭✭Stinicker


    Buy Dollars now as it will certainly get worse, Euro/Dollar parity will arrive before April and the Dollar will pass the Euro in value thereafter. Greece will vote in Europe's first Hard Left anti-Austerity Government this weekend and you can expect the Euro to nosedive thereafter. The Saudi King is dead and if there is any instability there you can expect Oil to rocket and if Oil prices rise we are in for a perfect storm. I fully expect the Euro to collapse very soon myself.


  • #3
    BMmeow
    Registered Users Posts: 82 ✭✭BMmeow


    Stinicker wrote: »
    Buy Dollars now as it will certainly get worse, Euro/Dollar parity will arrive before April and the Dollar will pass the Euro in value thereafter. Greece will vote in Europe's first Hard Left anti-Austerity Government this weekend and you can expect the Euro to nosedive thereafter. The Saudi King is dead and if there is any instability there you can expect Oil to rocket and if Oil prices rise we are in for a perfect storm. I fully expect the Euro to collapse very soon myself.

    Wow! This is way more grim than I thought!


  • #4
    hfallada
    Closed Accounts Posts: 4,180 ✭✭✭hfallada


    Currency predication is pretty difficult to predict tbh. Take the swiss bank move regarding the euro peg last week. Not a single economist predicated and only 5 out of 22 expected a change in 2016. QE will definitely have an impact on EUR to USD. But how much is hard to tell. Even the US reported worst than expect job creation last month today. So that will impact on the USD. When the Greece election is sorted, the EUR will increase.

    I cant imagine there being a massive change between now and May. The Greece Election and the Swiss bank moves have the currency market in turmoil. A few weeks should be a better indication of trends.

    The chance of Euro break up is minimal now. Bond yields are so low, meaning the markets arent predicating a Euro break up. Plus Germany adores the weakness of the Euro.Germanys economy is export led and the more the euro weakens, the more they are going to export potentially. There is zero chance of instability in Saudi Arabia. They have no problem admitting they have plenty of tanks and fighter jets to keep the peace in their country. They will "take care" of anyone who questions their leadership. Plus they arent the massive oil producers they used to be.


  • #5
    MarkY91
    Registered Users Posts: 7,066 ✭✭✭MarkY91


    I'm going to America in June and. Plan on bringing 2500 euro and changing that to dollars. Ex back I'm October had that at 3100 dollars. Now 2800 dollars. Jesus... I don't know what to do :(


  • #6
    BMmeow
    Registered Users Posts: 82 ✭✭BMmeow


    MarkY91 wrote: »
    I'm going to America in June and. Plan on bringing 2500 euro and changing that to dollars. Ex back I'm October had that at 3100 dollars. Now 2800 dollars. Jesus... I don't know what to do :(

    whah are you saying in oct 2500eur was worth 3100usd, and now its only worth 2800usd? Awh man! Absolutely sickening! I wonder if it will go up again in the next few months! :(


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  • #7
    MarkY91
    Registered Users Posts: 7,066 ✭✭✭MarkY91


    BMmeow wrote: »
    whah are you saying in oct 2500eur was worth 3100usd, and now its only worth 2800usd? Awh man! Absolutely sickening! I wonder if it will go up again in the next few months! :(

    Yep! So I feel robbed of 300 dollars. From my googling, I've come to the clonclusion that it is probably going to go down a little more. And that it certainly won't be up much if at all by June.

    Was major pissed off as I never knew this was happening the past month and thought they hanged by a couple of cent at most. That 50 dollars my ma got me for Xmas is an even better present now than it was at xmas :L


  • #8
    BMmeow
    Registered Users Posts: 82 ✭✭BMmeow


    the euro rose 0.4% this morning... better than nothing eh?

    anyone well read enough to know if the euro will drop significantly or remain the same when Greece's current bailout program ends in Feb?


  • #9
    MarkY91
    Registered Users Posts: 7,066 ✭✭✭MarkY91


    BMmeow wrote: »
    the euro rose 0.4% this morning... better than nothing eh?

    anyone well read enough to know if the euro will drop significantly or remain the same when Greece's current bailout program ends in Feb?

    I was like 0_0 at the TV just as the currency was coming on. Rose to 1.14 from 1.12 I think. If this was posted in after hours, then we would get loads f opinions.

    I want my $300 vegas gambling money back damnit :L


  • #10
    BMmeow
    Registered Users Posts: 82 ✭✭BMmeow


    MarkY91 wrote: »
    I was like 0_0 at the TV just as the currency was coming on. Rose to 1.14 from 1.12 I think. If this was posted in after hours, then we would get loads f opinions.

    I want my $300 vegas gambling money back damnit :L

    woah you're going to vegas?! me too! its extra annoying because vegas ups the price of everything so much compared to other cities and states. You actually think id get more replies if i post in after hours? google is not much help for this stuff!


  • #11
    MarkY91
    Registered Users Posts: 7,066 ✭✭✭MarkY91


    BMmeow wrote: »
    woah you're going to vegas?! me too! its extra annoying because vegas ups the price of everything so much compared to other cities and states. You actually think id get more replies if i post in after hours? google is not much help for this stuff!

    yeah but youll get alot of sarcastic ones and people taking the piss too.

    yeah im going in june. never heard of "resort fees" until i booked which is bizarre. ill have a tonne of 1 dollar notes for tips in my back pocket lol. youre going going in may yeah?


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  • #12
    Stinicker
    Banned (with Prison Access) Posts: 7,102 ✭✭✭Stinicker


    The first time I was in Las Vegas was in April 2008 and I was getting $1.57 to €1.00. The amount of stuff I purchased and Dollars I spent was crazy at the time. Wish those days could come back again.

    Last time I was there was in July 2010 and the rate was down to $1.30 and the resort fees were introduced my then, it left quite an unpleasant taste if I'm honest and I haven't been back since. Vegas at Euro/Dollar will be a painful experience financially I'd reckon.

    Interesting site to check-out historical rates here

    http://www.investing.com/currencies/eur-usd-historical-data


  • #13
    MarkY91
    Registered Users Posts: 7,066 ✭✭✭MarkY91


    Stinicker wrote: »
    The first time I was in Las Vegas was in April 2008 and I was getting $1.57 to €1.00. The amount of stuff I purchased and Dollars I spent was crazy at the time. Wish those days could come back again.

    Last time I was there was in July 2010 and the rate was down to $1.30 and the resort fees were introduced my then, it left quite an unpleasant taste if I'm honest and I haven't been back since. Vegas at Euro/Dollar will be a painful experience financially I'd reckon.

    Interesting site to check-out historical rates here

    http://www.investing.com/currencies/eur-usd-historical-data

    Going to be a costly trip indeed. Not into fancy meals so some fast food joint etc will do me for food. So there's some savings there..


  • #14
    BMmeow
    Registered Users Posts: 82 ✭✭BMmeow


    Resort fees are a joke, I was there last year with a decent exchange rate and they made me want to cry! The prices have risen since Jan 2015, with a few places a planning further hikes just in time for the summer so check out where you're saying, if they say your resort fees are x amount now, it may be more by the time you're there!


  • #15
    MarkY91
    Registered Users Posts: 7,066 ✭✭✭MarkY91


    BMmeow wrote: »
    Resort fees are a joke, I was there last year with a decent exchange rate and they made me want to cry! The prices have risen since Jan 2015, with a few places a planning further hikes just in time for the summer so check out where you're saying, if they say your resort fees are x amount now, it may be more by the time you're there!

    Jesus. Pisstake! Staying at flamingo. We will try the "$20 dollar trick" and see what that gets us f anything at all lol


  • #16
    andrew
    Moderators, Science, Health & Environment Moderators, Society & Culture Moderators Posts: 3,368 Mod ✭✭✭✭andrew


    To bring the thread back on topic....

    When you say will it go 'up' what do you mean? Do you mean, will it go back to 1.25? 1.50? I mean, it may hit bottom soon and then go up a small bit, but it'll still be very weak.

    It's best to assume that it'll remain very weak (around its current level, give or take a few cents) for the next few quarters.


  • #17
    BMmeow
    Registered Users Posts: 82 ✭✭BMmeow


    andrew wrote: »
    To bring the thread back on topic....

    When you say will it go 'up' what do you mean? Do you mean, will it go back to 1.25? 1.50? I mean, it may hit bottom soon and then go up a small bit, but it'll still be very weak.

    It's best to assume that it'll remain very weak (around its current level, give or take a few cents) for the next few quarters.

    I just mean get a bit better than $1.13.. i don't expect miracles but is $1.20 too much to hope for?


  • #18
    bilbot79
    Registered Users Posts: 1,980 ✭✭✭bilbot79


    Currencies go up and down.the dollar may go past the euro for a time but not forever because it's the global reserve currency and that's always low in the long run. It's just the combination of factors at this present time. The weak euro will create a financial vacuum that will be filled with american money and will thus strengthen. Certainly won't improve before your holiday though.


  • #19
    andrew
    Moderators, Science, Health & Environment Moderators, Society & Culture Moderators Posts: 3,368 Mod ✭✭✭✭andrew


    BMmeow wrote: »
    I just mean get a bit better than $1.13.. i don't expect miracles but is $1.20 too much to hope for?

    Yeah, my very non-expert but generally interested opinion is that that's too much to hope for. It was at that level before quantitative easing was announced, and one of the aims of QE is to cause the Euro to depreciate. 5 months isn't really that much time. Your best response is to assume it'll remain below $1.20.


  • #20
    bilbot79
    Registered Users Posts: 1,980 ✭✭✭bilbot79


    BMmeow wrote: »
    I just mean get a bit better than $1.13.. i don't expect miracles but is $1.20 too much to hope for?

    I think 1.20 is too much to hope for


  • #21
    BMmeow
    Registered Users Posts: 82 ✭✭BMmeow


    oh dear :( giving an educated guess, is it also too much to hope for that it won't be below $1.10 in april/may?


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  • #22
    andrew
    Moderators, Science, Health & Environment Moderators, Society & Culture Moderators Posts: 3,368 Mod ✭✭✭✭andrew


    BMmeow wrote: »
    oh dear :( giving an educated guess, is it also too much to hope for that it won't be below $1.10 in april/may?

    It's plausible that it'd be below that level, but predicting these kind of things is very difficult.


  • #23
    MarkY91
    Registered Users Posts: 7,066 ✭✭✭MarkY91


    Depressing last few posts. I have half my 2.5k so I really think I should change it to dollars now seeing as no better informed people say it will go up


  • #24
    BMmeow
    Registered Users Posts: 82 ✭✭BMmeow


    MarkY91 wrote: »
    Depressing last few posts. I have half my 2.5k so I really think I should change it to dollars now seeing as no better informed people say it will go up

    I was so tempted to change a few hundred today its at 1.14 now. But imagine it went up even a little further... even few cents more would make a difference when you're changing so much...
    Ive seen articles saying it will reach 1.15 this week because they're expecting US rates to rise...


  • #25
    MarkY91
    Registered Users Posts: 7,066 ✭✭✭MarkY91


    BMmeow wrote: »
    I was so tempted to change a few hundred today its at 1.14 now. But imagine it went up even a little further... even few cents more would make a difference when you're changing so much...
    Ive seen articles saying it will reach 1.15 this week because they're expecting US rates to rise...

    There's a different thread about this elsewhere on boards. Some said its expected to go down. I'll link you when I'm on the laptop


  • #26
    andrew
    Moderators, Science, Health & Environment Moderators, Society & Culture Moderators Posts: 3,368 Mod ✭✭✭✭andrew


    This thread is very borderline in terms of what this forum was set up to discuss - to be honest, it's almost certainly over the line. As such, while I'll leave this thread open for the moment, if you're reading this thread and considering starting a similar thread, do not start it here. Try the Investments and Markets forum instead.

    Thank you.


  • #27
    MarkY91
    Registered Users Posts: 7,066 ✭✭✭MarkY91


    its getting worse and worse for us holiday makers to the US


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