Aussie dollar falling

its not looking too good at the moment folks.
shoulda snapped it up at 70...
hope it goes some bit up in the next week as I want to transfer money for going home at Christmas.

jank

Euro QE should begin in 2015, this will weaken the Euro but the AUD has taken a bit of a battering as well.

I'll believe QE out of that epic prevaricator, Draghi, when I see it.

It must be very annoying to be behind him in traffic with his habit of putting on his indicators 145 Km before making the actual turn.

Actually, on second thought, his rate of progress is such there is some danger civilisation may have crumbled and the road ahead turned to impassable ruin before he ever gets to the turn.

jank

Yes, Draghi seems to be playing us for fools but it seems there is a split in the ECB board over QE. Even talk that he will be replaced by someone who will tow the more conservative German line.

If only the EU had more of that conservative German financial rigour based on events nearly a hundred years ago, the EU wouldn't be in the state is in now. All this financial liberalism we have been enduring has brought about ruin.

Or the opposite.

Well whatever about the € the aus$ is strongly attactched to China and there's plenty of wobbles there today.

sin_city

catbear wrote: »

Well whatever about the € the aus$ is strongly attactched to China and there's plenty of wobbles there today.

Massive deflation going on worldwide in certain resource sectors such as Oil, cement, iron ore….

Any resource based economy is suffering…Australia, Russia, Canada, etc.

People are choosing to buy US dollar and somehow the Euro is stronger.

Without a doubt long term both the US and Europe are fcuked but in the short term who knows?

Could go down to 60 cents or even lower….anything is possible.

Last time (and the only time) oil went this low so fast we had the 2008 crash a few months later.

Looks like the deflation is kicking in (which basically is the collapsing of the banking industry)

They will try to inflate as they have been doing and God knows where that will lead us..

I’d really expect anything to be possible.

Look at the chart 2007 and 2008 on oil and compare the Aussie Dollar during those years….

.65 today :eek:

Great if you're moving to OZ.

No6

Not so hot for sending money home though!!!

No6 wrote: »

Not so hot for sending money home though!!!

This will be tough for some I know paying off mortgages in Ireland.

No6

Tell me about it, try paying a mortgage and putting a child through college!! :eek:

shadowcomplex

catbear wrote: »

Great if you're moving to OZ.

Why

Shy Ted

As you would have to transfer Euros to Aus Dollars.
The weaker the dollar, the more value you'll get on the euro.
http://www.xe.com/currencycharts/?from=AUD&to=EUR&view=1M

I'm heading out in the new year, and now's probably a good time for me to transfer money over.

shadowcomplex wrote: »

Why

Because you get more Dollars for your Euro...

Mantis Toboggan

I got 1000 dollars for 700 euro, is that good?

Batgurl

Tyson Fury wrote: »

I got 1000 dollars for 700 euro, is that good?

You got stung for about $50 by the looks of today's xe rate. Probably transfer fees if you used a bank.

You should have used currency fair.

shadowcomplex

aido79 wrote: »

Because you get more Dollars for your Euro...

That's only good for a 1 time payout

shadowcomplex wrote: »

That's only good for a 1 time payout

Could you expound on your reasoning a bit as I am failing to get what you are on about.

Nice upswing in aus$.

catbear wrote: »

Nice upswing in aus$.

True, would be nice to see it go above the 70c mark again.

The ozzie just strapped on a jet pack - up 2.1% to 0.7066
.
.
.
It's now gone through 0.71 - up 2.64%. Thank you SNB!

statina

Excellent- time to get transferring :-)

This is great, thank you for keeping us updated!

so who is tempted to transfer now or see what happens the next few days???

niva*sis wrote: »

so who is tempted to transfer now or see what happens the next few days???

Unless you have a massive amount to transfer it not going to make much difference in the next few days. Even if it changes by a couple of cent(which is highly unlikely) then it really isn't going to make a huge difference unless you are sending 10's of thousands. If the rate changes by 2 cent then that is still only a difference of €20 per $10,000.

niva*sis wrote: »

so who is tempted to transfer now or see what happens the next few days???

A 2c change on 10K would save you €200 per 10K, I believe.

niva*sis wrote: »

so who is tempted to transfer now or see what happens the next few days???

Well it has been rising steadily for a while now.

https://uk.finance.yahoo.com/echarts?s=AUDEUR%3DX#symbol=AUDEUR=X;range=1d

Click on the 1M tab.

I am not going to give financial advice beyond saying if you decide to transfer any significant amounts, at some point, do check the rate banks would offer you compared with other options like CurrencyFair and Ozforex. It might be worth checking out what is involved in registering with and using those or any alternatives prior to using them so you are in a position to act if you decide to.