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Cash - EUR or AUD over the next 12-24 months

  • 23-05-2012 12:44am
    #1
    csm
    Registered Users, Registered Users 2 Posts: 310 ✭✭


    Where should I put 10k EUR in cash for safekeeping over the next 1 to 2 years: Ireland or Australia?

    It will go towards a house deposit and so I'd rather keep it in cash than riskier investments. I currently live in Oz and will most likely buy a house in Oz in around 18 months time.

    I know it seems obvious to change it to AUD given the Greek risks, but the AUD is still very high at the moment. Somewhat counter-intuitively, it has been devaluing versus EUR over the last 6 weeks or so (ie when uncertainty around the eurozone has been increasing).

    I'd be interested to hear people's thoughts on what might happen over the medium term.


Comments

  • #2
    colman1212
    Registered Users, Registered Users 2 Posts: 1,127 ✭✭✭colman1212


    The australian dollar has taken a big hit recently.
    About 3 months ago you'd have got over 81c for the dollar.
    At the moment its at about 77c.
    I transfer cash between Ireland and Austrailia and find Ozforex extrememly good.
    Whatever you do, dont transfer your cash through a bank as they will scr3w you on the rate.

    The australian dollar is tied to the euro in a number of ways anyway. Chinas biggest export market is europe. If europe goes bad, they need less raw materials so oz takes a hit on commodities.

    I hope the dollar gets a little stronger. I'm currently waiting for it to hit 78-79c. Not sure if there is much hope.


  • #3
    euroboom13
    Registered Users, Registered Users 2 Posts: 650 ✭✭✭euroboom13


    oz and china bust :eek:/euro boom shortly:D
    stick to euro...buy house for cash in oz no deposit in a few years


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