Australia $ Value, Economic Direction?

[MicCanberra]

92.06 this evening

 

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Keep it rising if you can. My cruise is soon and those extra cents all count.:D

[The_Big_M]

If you knew what was going to happen exactly then it wouldn't be a forecast but a fact. :D

 

And you could be very, very rich.

[The_Big_M]

yes -- I know where you are coming from -- I have heard it many times before. If only the Opposition wasn't so negative - and worked with the Government for the good of the country, everything would be great.??? This is true.

 

Do you think we will see this happen when the Labor Party is in opposition after 07 Sep?? ( for the good of the country , of course :) )

 

Barry

 

While I think the current Opposition have taken opposition to a new level, I wasn't meaning to imply that it is a trait unique to them.

 

I just think that it's not solely "most Aussies don't want to hear what is necessary to bring the Budget back under control." I think many have a more reasonable view as well, or are just not so interested, though of course not all. But thanks to heavy politicking and media grandstanding, there's a refusal to accept many things.

[The_Big_M]

Still can't get through that resistance. Heading back down, at 0.9145 currently.

[MicCanberra]

And you could be very, very rich.

 

If only.:D

[MicCanberra]

Still can't get through that resistance. Heading back down, at 0.9145 currently.

 

It will hopefully bounce back up tomorrow.:D

[bazzaw]

It will hopefully bounce back up tomorrow.:D

 

Don't bet on it though

 

Coalition says it will ask Treasury to revise 'over-optimistic' budget figures

http://www.theguardian.com/world/2013/aug/12/coalition-treasury-over-optimistic-budget

 

 

Barry

[TLCOhio]

Still can't get through that resistance. Heading back down, at 0.9145 currently.

 

As of 5 pm this afternoon from the Wall Street Journal, the Aussie dollar is at $0.9148. It had gone over 92 cents today, but has started to drop back a little. Hard to know exactly where it will land by mid January 2014 as we prepare for our Jan. 20-Feb. 3, 2014, Solstice cruise, Sydney to Auckland..

 

From The Age, the Fairfax newspaper in Melbourne, Australia, within the past 30 minutes, they have this headline: "Australian dollar lower on US economic strength" with these highlights: "The Australian dollar is lower after the US monthly budget statement showed the government remained on track to post its lowest annual budget gap in five years. The local unit was trading at 91.46 US cents. The US July budget statement indicated a strengthening of the US economy, with increased revenue and a narrowing deficit. The improving economic outlook renewed expectations that the US Federal Reserve will soon begin tapering its economic stimulus, which added strength to the greenback and put pressure on the Australian dollar."

 

From the Brisbane Courier-Mail yesterday in Australia, they have this headline: "Travel money cards surge as Australian dollar falls" with these highlights: "Travellers are embracing travel money cards to lock in exchange rates in the wake of the falling Australian dollar, but are overwhelmed at the sheer number of choices available. Banks, airlines, foreign exchange providers and Australia Post are flooding the market with the prepaid cash cards, which have replaced traveller's cheques as the preferred way to conduct transactions overseas. Card provider OzForex said it experienced a 66 per cent rise in applications in June while a recent MasterCard report predicted Australia's prepaid consumer travel card market will reach $2.9 billion by 2017. Recent research by comparison website Canstar found Mastercard's Multi-currency Cash Passport was the best value travel money card on the market. 'The cost of the card and what it costs to load and reload is quite low,' Canstar research manager Mitchell Watson said. 'With some cards you get charged by the card issuer and the ATM when you withdraw money overseas but there are no ATM fees on this card so you don't have to worry about being charged twice.' With so many options available, Mr Watson said people need to be savvy about which card they choose and do their research. A UK study by Compare Money found travel money cards gave an eight per cent better exchange rate than exchanging at airports and five per cent better than at an exchange bureau."

 

Personally, I am not jumping to buying any such money cards. Interesting concept to watch and consider, maybe.

 

Full stories at:

http://www.theage.com.au/business/markets/australian-dollar-lower-on-us-economic-strength-20130813-2rsyn.html

http://www.couriermail.com.au/travel/travel-advice/travel-money-cards-surge-as-australian-dollar-falls/story-fnihr5wo-1226695404103

 

THANKS! Enjoy! Terry in Ohio

 

Did a June 7-19, 2011, Celebrity Solstice cruise from Barcelona that had stops in Villefranche, ports near Pisa and Rome, Naples, Kotor, Venice and Dubrovnik. Enjoyed great weather and a wonderful trip. Dozens of wonderful visuals with key highlights, tips, comments, etc., on these postings. We are now at 139,030 views for this live/blog re-cap on our first sailing with Celebrity and much on wonderful Barcelona. Check these postings and added info at:

http://www.boards.cruisecritic.com/showthread.php?t=1426474

[MicCanberra]

The people buying the money on cards obviously think the AUD will continue to fall and so they are locking there dollars in now and buying the foriegn currencies. Sometimes this pays off, sometimes it doesn't. It really does depend on how much you need and when you need it.:D

[The_Big_M]

Don't bet on it though

 

Coalition says it will ask Treasury to revise 'over-optimistic' budget figures

http://www.theguardian.com/world/2013/aug/12/coalition-treasury-over-optimistic-budget

 

 

Barry

 

What a surprise. The opposition is already buttering us up for 'bad news' if it gains power.

 

Not a surprise though. They don't believe independent scientists about climate change, so why would they believe independent economists about finances.

 

(Of course, a favourable mob of local accountants with no research of their own are much more credible! :rolleyes:)

 

However, such musings of theirs have no impact on the dollar.

[The_Big_M]

The people buying the money on cards obviously think the AUD will continue to fall and so they are locking there dollars in now and buying the foriegn currencies.

 

Or they're just being cautious, effectively hedging against further risk.

 

My view is that it's better to lock it in now, if the pain or cost of it going lower is worse than the gain from an increase. For example, an increase is always nice, but if going lower means going without and it's something you want, it's probably preferable to lock it in now.

[MicCanberra]

Or they're just being cautious, effectively hedging against further risk.

 

My view is that it's better to lock it in now, if the pain or cost of it going lower is worse than the gain from an increase. For example, an increase is always nice, but if going lower means going without and it's something you want, it's probably preferable to lock it in now.

I agree, I just don't think the cards are worth it unless they hold $1000's.:D

[MicCanberra]

(Of course, a favourable mob of local accountants with no research of their own are much more credible! :rolleyes:)

 

However, such musings of theirs have no impact on the dollar.

Those accountants used by the opposition were fined last time. http://www.smh.com.au/federal-politics/political-opinion/blogs/the-dreyfus-files/coalition-should-have-red-faces-over-costings-20111207-1oigi.html

[TLCOhio]

As of a few minutes ago, the Wall St. Jour. has the Aussie dollar at $0.9095. Down below 91 cents. Somewhat related from late this morning, BusinessWeek/Bloomberg has this headline: "Whither China Seen Discerned in Australia as RBA Sees Slowdown".

 

Here are some of the story details and highlights: "From his Manhattan office, Steven Englander looks to commentary from policy makers and executives in Sydney, not Beijing, for the best take on China’s economy. 'They get a direct, immediate view of China demand for highly cyclical products and have an incentive to give it a close read,' said Englander, 58, head of Group of 10 currency strategy at Citigroup Inc. Doubts over the accuracy of Chinese data focus attention on readings and statements more than 3,500 miles south of Beijing, to Australia, China’s biggest iron-ore supplier. The Reserve Bank of Australia said Aug. 9 China’s growth isn’t likely to 'pick up much, if at all, in coming quarters,' while Prime Minister Kevin Rudd has flagged the danger of a Chinese credit crunch in a re-election pitch based on economic management. China’s government said in June it will start an investigation to ensure the accuracy of data filed by companies as part of efforts to improve the reliability of statistics. Li Keqiang, who became premier this year, said in 2007 that gross domestic product figures were 'man-made' and 'for reference only,' according to a WikiLeaks cable published in 2010. Englander isn’t alone in looking to Australia to get a reading on China. Frederic Neumann, co-head of Asian economics at HSBC Holdings Plc in Hong Kong, said his team studies iron-ore exports, while Saul Eslake, chief Australia economist at Bank of America Merrill Lynch in Melbourne, said he tracks what mining executives say and monitors iron ore and coal shipments."

 

Who knew that Aussie iron ore data was so interesting and telling that it would affect currency values, economic predictions, etc. Fascinating!!

 

Full story at:

http://www.businessweek.com/news/2013-08-13/whither-china-seen-discerned-in-australia-as-rba-sees-slowdown

 

THANKS! Enjoy! Terry in Ohio

 

Did a June 7-19, 2011, Celebrity Solstice cruise from Barcelona that had stops in Villefranche, ports near Pisa and Rome, Naples, Kotor, Venice and Dubrovnik. Enjoyed great weather and a wonderful trip. Dozens of wonderful visuals with key highlights, tips, comments, etc., on these postings. We are now at 139,095 views for this live/blog re-cap on our first sailing with Celebrity and much on wonderful Barcelona. Check these postings and added info at:

http://www.boards.cruisecritic.com/showthread.php?t=1426474

[Aus Traveller]

As of a few minutes ago, the Wall St. Jour. has the Aussie dollar at $0.9095. Down below 91 cents. Somewhat related from late this morning, BusinessWeek/Bloomberg has this headline: "Whither China Seen Discerned in Australia as RBA Sees Slowdown".

 

Here are some of the story details and highlights: "From his Manhattan office, Steven Englander looks to commentary from policy makers and executives in Sydney, not Beijing, for the best take on China’s economy. 'They get a direct, immediate view of China demand for highly cyclical products and have an incentive to give it a close read,' said Englander, 58, head of Group of 10 currency strategy at Citigroup Inc. Doubts over the accuracy of Chinese data focus attention on readings and statements more than 3,500 miles south of Beijing, to Australia, China’s biggest iron-ore supplier. The Reserve Bank of Australia said Aug. 9 China’s growth isn’t likely to 'pick up much, if at all, in coming quarters,' while Prime Minister Kevin Rudd has flagged the danger of a Chinese credit crunch in a re-election pitch based on economic management. China’s government said in June it will start an investigation to ensure the accuracy of data filed by companies as part of efforts to improve the reliability of statistics. Li Keqiang, who became premier this year, said in 2007 that gross domestic product figures were 'man-made' and 'for reference only,' according to a WikiLeaks cable published in 2010. Englander isn’t alone in looking to Australia to get a reading on China. Frederic Neumann, co-head of Asian economics at HSBC Holdings Plc in Hong Kong, said his team studies iron-ore exports, while Saul Eslake, chief Australia economist at Bank of America Merrill Lynch in Melbourne, said he tracks what mining executives say and monitors iron ore and coal shipments."

 

Who knew that Aussie iron ore data was so interesting and telling that it would affect currency values, economic predictions, etc. Fascinating!!

 

Full story at:

http://www.businessweek.com/news/2013-08-13/whither-china-seen-discerned-in-australia-as-rba-sees-slowdown

 

THANKS! Enjoy! Terry in Ohio

 

Did a June 7-19, 2011, Celebrity Solstice cruise from Barcelona that had stops in Villefranche, ports near Pisa and Rome, Naples, Kotor, Venice and Dubrovnik. Enjoyed great weather and a wonderful trip. Dozens of wonderful visuals with key highlights, tips, comments, etc., on these postings. We are now at 139,095 views for this live/blog re-cap on our first sailing with Celebrity and much on wonderful Barcelona. Check these postings and added info at:

http://www.boards.cruisecritic.com/showthread.php?t=1426474

That is a worry. Kevin Rudd is saying that China's boom is over and they aren't/won't be buying as much from Australia. He links to that the comment that only the Labor Party can manage the Australian economy with such a down-turn. ;) Rudd's negative comments are taken up world-wide as a measure of how the Chinese economy is doing (and therefore the Australian economy) and this has resulted in the major slide in the value of the Australian dollar. :(

[MicCanberra]

Interesting that they trust the Aussie interpretation rather than the chinese data.

BTW, $AUD back to 91.3 this am.:D

[Aus Traveller]

Interesting that they trust the Aussie interpretation rather than the chinese data.

BTW, $AUD back to 91.3 this am.:D

 

It might also indicate that if Rudd is using scare tactics re the Chinese economy etc. the AUD might bounce back up after our election if the Coalition wins government.

[jennyau]

It might also indicate that if Rudd is using scare tactics re the Chinese economy etc. the AUD might bounce back up after our election if the Coalition wins government.

 

That is what I have my fingers and toes crossed for.....

 

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Edited August 13, 2013 by jennyau

[MicCanberra]

That is what I have my fingers and toes crossed for.....

 

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The AUD rising or the coalition government?:D

[jennyau]

The AUD rising or the coalition government?:D

 

Hahaha.....the AUD rising when the Libs get in!

 

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[MicCanberra]

Hahaha.....the AUD rising when the Libs get in!

 

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Fingers for one and toes for the other, is it?:D

[The_Big_M]

That is a worry. Kevin Rudd is saying that China's boom is over and they aren't/won't be buying as much from Australia. He links to that the comment that only the Labor Party can manage the Australian economy with such a down-turn. ;) Rudd's negative comments are taken up world-wide as a measure of how the Chinese economy is doing (and therefore the Australian economy) and this has resulted in the major slide in the value of the Australian dollar. :(

 

The comments in that article don't control the movement of the dollar. It's normal and understandable to listen to a country's leaders to find out how the country is faring, for a particular investor.

 

And clearly, there has been a downturn in Chinese spending and pricing that's obvious to anyone. The largest miners haven't cut back on their investment plans because of Rudd's comments. They've cut back because of the iron ore pricing and their own reading of customer demand from China particularly.

 

These decisions flow through to our economy.

[jennyau]

Fingers for one and toes for the other, is it?:D

 

;) could very well be! I was also looking at the tag on my undies this morning and they say "made in Bangladesh"......I may have to specify "made in China" next time my wardrobe needs replenishing.

 

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[MicCanberra]

;) could very well be! I was also looking at the tag on my undies this morning and they say "made in Bangladesh"......I may have to specify "made in China" next time my wardrobe needs replenishing.

 

Sent from my GT-I9100T using Forums mobile app

LOl, too much information now.:D

[Aus Traveller]

Which is amusing given the Billion dollars Tony offered to Wilkie for a hospital just to get Wilkie to vote him in for a minority government last time around.

 

Clearly, he's realised how tough a gig it is and knows he wouldn't be up to it.

Kevin Rudd has also announced that he would not form government with minor parties. It seems that both leaders are trying to get the voters to make a clear choice between the two major parties.