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Australia $ Value, Economic Direction?

TLCOhio
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TLCOhio "Live from...." Rare

TLCOhio

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[COLOR="Blue"][SIZE="3"][FONT="Georgia"] Based on the Wall Street Journal this afternoon, the [I][B]Aussie dollar is at $0.9246[/B][/I]. The NZ dollar is at $0.8131. From reading some of the various media stories and posting on the Aussie-NZ board in the past week or so, that slight upward movement with your dollar might be more about weakness in our dollar, not as much about Australia, exports to China, etc. [B]Lots of factors involved. [/B]

From CNBC on Sept. 10, they have this headline: [B][I]"Is the Aussie dollar heading for parity?"[/I][/B] with these highlights: [I]"The Australian dollar could hit parity by year end, some analysts say, after the battered currency began to regain ground this month, helped by positive economic data out of China, the country's largest trading partner. 'It's a good time to buy the Australian dollar,' said Clifford Bennett, chief economist at financial services firm White Crane Group. 'China has stabilized, so the resource boom [in Australia] isn't over...it's Australia's boom time.' This has been a turbulent year for the Aussie. After remaining stubbornly strong for the first four months of the year, the currency declined over 16 percent to a three-year low of US$0.8848 in early August, as concerns about a [B]slowdown in China's economy, and the consequent impact on Australia's all-important mining sector[/B], knocked sentiment. Other factors, such as a strong U.S. dollar and dovish rhetoric from Australia's central bank, have also weighed on the Aussie. However, the beleaguered currency has made a turnaround this month, climbing to a seven week high of US$0.9320 on Tuesday, after above-view Chinese industrial production data raised hopes that the world's second-largest economy is stabilizing. According to Bennett, the positive impact of the federal election result announced this week, which ushered in a new Liberal National Coalition government, was another reason to be bullish on the Aussie. Currency analysts at BNP Paribas also expect further resilience in the Aussie dollar. Ray Attrill, co-head of FX strategy at National Australia Bank, said although increased confidence in China could boost the Aussie by another 2 percent, he expected further downside this year. 'I don't think [it will reach] parity, we've still got a forecast for US$0.86 by the end of this year and we're not changing that,' he said. 'There are a lot of moving parts to the Australian dollar equation and China is only one of them,' said Attrill. This week a monthly survey from the National Bank of Australia found that business confidence had surged to its highest reading in May 2011."[/I]

Economics is clearly part science and part "art"!!??

Full story at:
[url]http://www.cnbc.com/id/101024461[/url]

THANKS! Enjoy! Terry in Ohio[/FONT][/SIZE][/COLOR]

Did a June 7-19, 2011, Celebrity Solstice cruise from [B]Barcelona that had stops in Villefranche, ports near Pisa and Rome, Naples, Kotor, Venice and Dubrovnik[/B]. Enjoyed great weather and a wonderful trip. Dozens of wonderful visuals with key highlights, tips, comments, etc., on these postings. We are now at 141,926 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:
[B][url]www.boards.cruisecritic.com/showthread.php?t=1426474[/url][/B]
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Jacs

Jacs

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[quote name='MicCanberra']Yes, on the up again, :D
I wonder what it will be by the end of the week, I need to buy some USD on the weekend.:D[/QUOTE]

If Terry's article is anything to go by it should be :D 2 weeks until we fly out, I'll be getting my US dollars from an ATM when we land. Hopefully it's up still then :D
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MicCanberra Holiday Sharing Rare

MicCanberra

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[quote name='Jacs']If Terry's article is anything to go by it should be :D 2 weeks until we fly out, I'll be getting my US dollars from an ATM when we land. [B]Hopefully it's up still then[/B] :D[/quote]
That's what we are hoping for , not that it matters that much as it is just spending money.:D
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The_Big_M

The_Big_M

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[quote name='Jacs']If Terry's article is anything to go by it should be :D 2 weeks until we fly out, I'll be getting my US dollars from an ATM when we land. Hopefully it's up still then :D[/quote]

Watch out for moves on Wed. A Reserve announcement in the US tomorrow could affect things.
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TLCOhio "Live from...." Rare

TLCOhio

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As per the Wall Street Journal this am, the Aussie dollar is up to $0.9379. From the Sidney Morning Herald and other Fairfax newspapers in Australia today, they have this headline: "$A bounces back as Summers exits race".

 

Our WSJ had a headline of "Australian Dollar Hits Three-Month High as Yellen Leads Fed Race". This story noted: "Stephen Walters, chief economist at JPMorgan, said the rise in the Aussie dollar and recent weak employment data might encourage the RBA to reinstate a clear easing bias this week."

 

Here are the highlights from the Sydney newspaper story: "The Australian dollar has bounced on the news that former US treasury secretary Larry Summers has withdrawn from the race to succeed Ben Bernanke as Federal Reserve chief. This morning, the local unit shot up more than 1 per cent, after US President Barack Obama confirmed he had accepted Mr Summers' decision to withdraw his candidacy to become the next Fed chairman. After starting the local session at 92.45 US cents, the dollar traded as high as 93.94 US cents, before pulling back to around 93.4 US cents by midday. His withdrawal means the Fed will be less likely to wind back its economic stimulus program quickly, which is bad news for the US dollar and good news for the Aussie. Fed stimulus programs have contributed to lifting the Australian dollar post-GFC, with the local currency rising from 60.09 US cents in October 2008, to as high as 110.81 US cents in July of 2011. The Australian dollar has since traded well above its historical average of about 93 US cents. The other factor contributing to the dollar's strength was Australia’s mining boom and the relatively high interest rates this sparked. Market pundits have taken Mr Summers’ withdrawal as a sign that Ms Yellen has one hand on the Fed chairmanship. As the US economy recoveries, the US dollar is expected to strengthen against the Aussie, but should Ms Yellen become the next Fed chairman, markets expect a slower and softer touch to the ending of QE, which will support the Australian dollar in the short-term."

 

From FOX News Friday, they have this headline: "Honolulu surpasses New York City for most expensive hotel rooms in US" with these highlights: "Aloha, and welcome to the most expensive hotels in America. At $230 a night on average, Honolulu has now become the most expensive hotel market in the country, according to Hotel.com. The report tracked the prices that some 155,000 of the site’s users paid for hotel rooms. This year, for the first time since the creation of the index report in 2004, Honolulu has surpassed New York City as the most expensive hotel room market in the country. New York City is still close behind with an average nightly rate of $211, but the city experienced only a 2 percent increase in prices last year, as opposed to Honolulu's whopping 13 percent jump. While Honolulu is the country’s most expensive designated market area (or DMA in industry parlance) to find a hotel, it is not the most expensive city. When evaluating hotel room cost by city, Newport Coast, Calif. blew both Honolulu and New York City out of the water with an average daily rate of $501, which was a 25 percent increase from last year. Overall, hotel prices in North America were three percent higher on average during the first six months of 2013 than they were during the same period last year. And the average price of a hotel room has risen two percent globally, over the same period, with Latin America seeing a whopping seven percent increase."

 

Glad we booked our Honolulu hotel two nights there many months back. Know many Aussie travelers who do trips involving stays in Honolulu.

 

Full stories at:

http://www.smh.com.au/business/markets/currencies/a-bounces-back-as-summers-exits-race-20130916-2tten.html

http://www.foxnews.com/travel/2013/09/13/honolulu-surpasses-new-york-city-for-most-expensive-hotel-rooms-in-us/

 

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 141,977 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

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MicCanberra Holiday Sharing Rare

MicCanberra

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As per the Wall Street Journal this am, the Aussie dollar is up to $0.9379. From the Sidney Morning Herald and other Fairfax newspapers in Australia today, they have this headline: "$A bounces back as Summers exits race".

 

Our WSJ had a headline of "Australian Dollar Hits Three-Month High as Yellen Leads Fed Race". This story noted: "Stephen Walters, chief economist at JPMorgan, said the rise in the Aussie dollar and recent weak employment data might encourage the RBA to reinstate a clear easing bias this week."

 

Here are the highlights from the Sydney newspaper story: "The Australian dollar has bounced on the news that former US treasury secretary Larry Summers has withdrawn from the race to succeed Ben Bernanke as Federal Reserve chief. This morning, the local unit shot up more than 1 per cent, after US President Barack Obama confirmed he had accepted Mr Summers' decision to withdraw his candidacy to become the next Fed chairman. After starting the local session at 92.45 US cents, the dollar traded as high as 93.94 US cents, before pulling back to around 93.4 US cents by midday. His withdrawal means the Fed will be less likely to wind back its economic stimulus program quickly, which is bad news for the US dollar and good news for the Aussie. Fed stimulus programs have contributed to lifting the Australian dollar post-GFC, with the local currency rising from 60.09 US cents in October 2008, to as high as 110.81 US cents in July of 2011. The Australian dollar has since traded well above its historical average of about 93 US cents. The other factor contributing to the dollar's strength was Australia’s mining boom and the relatively high interest rates this sparked. Market pundits have taken Mr Summers’ withdrawal as a sign that Ms Yellen has one hand on the Fed chairmanship. As the US economy recoveries, the US dollar is expected to strengthen against the Aussie, but should Ms Yellen become the next Fed chairman, markets expect a slower and softer touch to the ending of QE, which will support the Australian dollar in the short-term."

 

From FOX News Friday, they have this headline: "Honolulu surpasses New York City for most expensive hotel rooms in US" with these highlights: "Aloha, and welcome to the most expensive hotels in America. At $230 a night on average, Honolulu has now become the most expensive hotel market in the country, according to Hotel.com. The report tracked the prices that some 155,000 of the site’s users paid for hotel rooms. This year, for the first time since the creation of the index report in 2004, Honolulu has surpassed New York City as the most expensive hotel room market in the country. New York City is still close behind with an average nightly rate of $211, but the city experienced only a 2 percent increase in prices last year, as opposed to Honolulu's whopping 13 percent jump. While Honolulu is the country’s most expensive designated market area (or DMA in industry parlance) to find a hotel, it is not the most expensive city. When evaluating hotel room cost by city, Newport Coast, Calif. blew both Honolulu and New York City out of the water with an average daily rate of $501, which was a 25 percent increase from last year. Overall, hotel prices in North America were three percent higher on average during the first six months of 2013 than they were during the same period last year. And the average price of a hotel room has risen two percent globally, over the same period, with Latin America seeing a whopping seven percent increase."

 

Glad we booked our Honolulu hotel two nights there many months back. Know many Aussie travelers who do trips involving stays in Honolulu.

 

Full stories at:

http://www.smh.com.au/business/markets/currencies/a-bounces-back-as-summers-exits-race-20130916-2tten.html

http://www.foxnews.com/travel/2013/09/13/honolulu-surpasses-new-york-city-for-most-expensive-hotel-rooms-in-us/

 

THANKS! Enjoy! Terry in Ohio

 

 

Thanks Terry.:D

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TLCOhio "Live from...." Rare

TLCOhio

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Aussie dollar, per Wall Street Journal is now showing at $.9500. Surprise!! Not sure what is or is not happening. Will post more here as it become more clear for why, when and how.

 

THANKS! Enjoy! Terry in Ohio

 

For details and visuals, etc., from our July 1-16, 2010, Norway Coast/Fjords/Arctic Circle cruise experience from Copenhagen on the Silver Cloud, check out this posting. This posting is now at 118,400 views.

http://www.boards.cruisecritic.com/showthread.php?t=1227923

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jennyau

jennyau

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Aussie dollar, per Wall Street Journal is now showing at $.9500. Surprise!! Not sure what is or is not happening. Will post more here as it become more clear for why, when and how.

 

THANKS! Enjoy! Terry in Ohio

 

For details and visuals, etc., from our July 1-16, 2010, Norway Coast/Fjords/Arctic Circle cruise experience from Copenhagen on the Silver Cloud, check out this posting. This posting is now at 118,400 views.

http://www.boards.cruisecritic.com/showthread.php?t=1227923

 

America has decided to continue their stimulus package.......thank you :D

 

Sent from my GT-I9100T using Forums mobile app

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Jacs

Jacs

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Yahoo!!!!!! 13 days until I land in Hawaii, lets see if we can squeeze a few more cents closer to parity :D I can see my spending money budget increasing lol.

 

The US reserve amended their growth figures for the next 18 months or so hopefully that means they won't wind back stimulus any time soon and we go back to parity. Not good for Terry's Jan trip but great for any of us cruising overseas :D

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