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Aussie dollar falling

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Comments

  • Registered Users Posts: 304 ✭✭ niva*sis


    Hi Statina,

    I wouldn't be 100% sure being honest.

    AIB have a forum on boards where you can ask questions its called "ask aib".

    you should take a look at their page and suss it out straight from them.

    before I asked them the questions I was told by a few different people that I had to show two years savings! so its better to get it straight from the horses mouth.


  • Registered Users Posts: 304 ✭✭ niva*sis


    Rate was at .73 on xe this morning!


  • Closed Accounts Posts: 5,092 ✭✭✭ catbear


    Interest rate cut gave the Aussie a bounce, at €.71 now.


  • Registered Users Posts: 304 ✭✭ niva*sis


    speaking of interest rates my ANZ progressive saver rate which was 3.7% is gone down to 2.95%
    I know it doesn't seem like much but you would notice it every month.


  • Registered Users Posts: 1,028 ✭✭✭ lg123


    niva*sis wrote: »
    speaking of interest rates my ANZ progressive saver rate which was 3.7% is gone down to 2.95%
    I know it doesn't seem like much but you would notice it every month.
    yup, my goal saver with comm bank is down from 4% to 3%, not a recent thing though - think they done that around christmas.


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  • Registered Users Posts: 317 ✭✭ jockey#1


    niva*sis wrote: »
    speaking of interest rates my ANZ progressive saver rate which was 3.7% is gone down to 2.95%
    I know it doesn't seem like much but you would notice it every month.

    Still some better rates to be had if you shop around.

    I'm currently getting 3.60% with bankwest albeit with some restrictions mainly no withdrawals otherwiss rate reverts to 0.01%


  • Registered Users Posts: 393 ✭✭ skippy2


    Try the UBank Ultra Account set up currently paying 3.62% inc bonus


  • Registered Users Posts: 1,028 ✭✭✭ lg123


    this should be an interesting week


  • Registered Users Posts: 1,207 ✭✭✭ Batgurl


    Would a Greek implosion help or hinder? I'm thinking hinder in the short term but help in the long term as Greece leaves the euro. Is that correct?


  • Registered Users Posts: 23,325 ✭✭✭✭ Peregrinus


    Batgurl wrote: »
    Would a Greek implosion help or hinder? I'm thinking hinder in the short term but help in the long term as Greece leaves the euro. Is that correct?
    Help or hinder what, exactly? In the short term you'd expect a Greek exit to lead to a decline in the value of the euro relative to other currencies, inc. the AUD. This helps if you have AUD and would like to by EUR, but it hinders if your situation is the reverse.


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  • Registered Users Posts: 2,625 ✭✭✭ AngryHippie


    I think it will be the other way around.

    A brief capital flight over the next few weeks until things firm up again in Europe will see the AUD pop up against EUR, then long term with Greece out on its bum, EUR will stabilize in a big way and AUD will taper back down to the .66 mark.

    Unless

    The AUD jump is sharp enough and sustained enough to expose the foreign property investment in the Aussie housing market (6-8 weeks would probably start to hurt it) in which case, there is a very real chance of the bubble letting go over here, which would be a disaster as it's about as overheated as anywhere in the world has ever been in SYD and MEL, with BNE not far behind.

    We live in interesting times.

    :confused:


  • Banned (with Prison Access) Posts: 13,018 jank


    Short answer, who knows.

    Long answer well it depends on your time frame. There is going to be a lot of volatility this week, so if you are looking to buy euros with your AUD to use them soon, then it may be a good time for it. Above .70 seems to be a good benchmark if it gets to that point.

    Don't rush into anything and DYOR.


  • Registered Users Posts: 1,980 ✭✭✭ Noo


    The AUD jump is sharp enough and sustained enough to expose the foreign property investment in the Aussie housing market (6-8 weeks would probably start to hurt it) in which case, there is a very real chance of the bubble letting go over here, which would be a disaster as it's about as overheated as anywhere in the world has ever been in SYD and MEL, with BNE not far behind.


    That would definitely be interesting. Some aussies I work with are buying second properties saying that its the best investment and the prices are going to keep rising. I ask are they not worried about the bubble bursting and they say no because australia managed to avoid the financial crisis. Possibly the most frustrating conversation an irish person can have!


  • Registered Users Posts: 2,625 ✭✭✭ AngryHippie


    Noo wrote: »
    That would definitely be interesting. Some aussies I work with are buying second properties saying that its the best investment and the prices are going to keep rising. I ask are they not worried about the bubble bursting and they say no because australia managed to avoid the financial crisis. Possibly the most frustrating conversation an irish person can have!

    particularly when the parrot back the sh1te they've been fed by a real-estate agent as representing any kind of financial advice.

    Asking a shark for swimming lessons FFS.


  • Closed Accounts Posts: 5,092 ✭✭✭ catbear


    It seems that whatever the € loses on Greece the Aus$ is losing on the China slowdown. No real change at the moment.


  • Moderators, Regional Abroad Moderators Posts: 5,364 Mod ✭✭✭✭ aido79


    Noo wrote: »
    That would definitely be interesting. Some aussies I work with are buying second properties saying that its the best investment and the prices are going to keep rising. I ask are they not worried about the bubble bursting and they say no because australia managed to avoid the financial crisis. Possibly the most frustrating conversation an irish person can have!

    I have had the same argument with lots of Australians. Most of them seem confused when you try to explain to them that it is possible to lose money investing in property especially the younger ones who have only seen property rise in value.


  • Registered Users Posts: 1,028 ✭✭✭ lg123


    so they have picked no. any guesses on where the euro will land in the short term?


  • Closed Accounts Posts: 5,092 ✭✭✭ catbear


    Might weaken against the Aus$ today but the vote itself makes little difference, a grexit has been expected and now looks more likely.
    The huge drops in shanghai have more bearing on the Aus$ in the near future.


  • Registered Users Posts: 1,028 ✭✭✭ lg123


    whats driving my interest, i need to send some euro home for a big expense next year. have the cash sitting here in a 3% interest account. my bank at home are paying nothing from what i can see. trying to decide if this Greek debacle is an opportunity.


  • Registered Users Posts: 2,625 ✭✭✭ AngryHippie


    lg123 wrote: »
    whats driving my interest, i need to send some euro home for a big expense next year. have the cash sitting here in a 3% interest account. my bank at home are paying nothing from what i can see. trying to decide if this Greek debacle is an opportunity.

    keep a close eye on it.
    The drop in commodity prices at the moment are stopping any AUD gains.
    If that stabilizes before Grexit, you might see some rises, probably not though.


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  • Registered Users Posts: 13,702 ✭✭✭✭ BoatMad


    lg123 wrote: »
    so they have picked no. any guesses on where the euro will land in the short term?

    It will result in little net change in the euro value. Greece is less then 1.9% of EZ GDP. It's like saying Puerto Rico default would damage dollar


  • Registered Users Posts: 692 ✭✭✭ res ipsa


    BoatMad wrote: »
    It will result in little net change in the euro value. Greece is less then 1.9% of EZ GDP. It's like saying Puerto Rico default would damage dollar

    Just like letting Lehman Brothers go did no damage.


  • Closed Accounts Posts: 5,092 ✭✭✭ catbear


    Iron ore dropping below $50, shaghai down a lot, Grexit is priced in, I reckon the aus$ is going to drop a good bit over the next weeks which is crap as I've more to move out of there!


  • Registered Users Posts: 647 ArseBurger




  • Registered Users Posts: 618 ✭✭✭ gudede


    Alright lads... Are people still of the view that the dollar will drop compared to tye euro?? Currently around 0.68, would love for it to increase to around 0.71...guessing that won't happen any time soon.


  • Registered Users Posts: 879 ✭✭✭ witnessrenegade


    gudede wrote: »
    Alright lads... Are people still of the view that the dollar will drop compared to tye euro?? Currently around 0.68, would love for it to increase to around 0.71...guessing that won't happen any time soon.

    Would like to hear more on this too as Im gonna be bringing home a nice chunk with me in about 4 week. Also, who does everyone use for sending home cash? I was transferring it usually through my banks but I think im gonna give Currency Fair go this time


  • Registered Users Posts: 2,625 ✭✭✭ AngryHippie


    Would like to hear more on this too as Im gonna be bringing home a nice chunk with me in about 4 week. Also, who does everyone use for sending home cash? I was transferring it usually through my banks but I think im gonna give Currency Fair go this time

    http://www.ozforex.com.au/news-commentary/daily/2015/7/21/traders-look-to-rba-monetary-policy-meeting-minutes-for-direction

    http://www.ozforex.com.au/news-commentary/weekly/2015/7/20/weekly-newsletter

    Its not a bad place to keep an eye on developments and it does highlight the relevant reports that will drive changes.
    It's all about timing.

    And of course....
    http://www.rba.gov.au/monetary-policy/rba-board-minutes/2015/index.html

    should be released later today.


  • Registered Users Posts: 15,817 ✭✭✭✭ cnocbui


    gudede wrote: »
    Alright lads... Are people still of the view that the dollar will drop compared to tye euro?? Currently around 0.68, would love for it to increase to around 0.71...guessing that won't happen any time soon.

    I am completely unqualified to give anyone advice, but as an anecdote, I have been telling myself lately that 0.68 is the new 0.70.


  • Closed Accounts Posts: 5,092 ✭✭✭ catbear


    The Yuan devaluation has taken the Aus$ down with it, bouncing off .65c now.


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  • Registered Users Posts: 1,980 ✭✭✭ Noo


    catbear wrote:
    The Yuan devaluation has taken the Aus$ down with it, bouncing off .65c now.

    It'll probably keep dragging it down, interesting time ahead


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