AUD drops to 0.55

Discussion in 'Currencies' started by openeyes, Mar 19, 2020.

  1. openeyes

    openeyes Well-Known Member Silver Stacker

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    Aussie dollar plummeting. Down 8% for the day on XE.com

    Currently at 0.5522
     
  2. mmm....shiney!

    mmm....shiney! Well-Known Member Silver Stacker

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    What are the positives and negatives to come out of this?

    If this was a measure of the nation's economic report card I'm thinking it's a big

    Screen Shot 2020-03-19 at 1.11.01 pm.png

    This is what frightens me, not a virus.
     
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  3. leo25

    leo25 Well-Known Member Silver Stacker

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    Philip Lowe will be very happy. Soon it will be cheaper to wipe your ass with AUD notes than toilet paper.

    [​IMG]
     
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  4. sgbuyer

    sgbuyer Well-Known Member Silver Stacker

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    AUD plunged, got a shock. What does this imply? If it is a leading indicator.
     
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  5. mmm....shiney!

    mmm....shiney! Well-Known Member Silver Stacker

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    Runaway inflation?
     
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  6. sgbuyer

    sgbuyer Well-Known Member Silver Stacker

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    Copper is now below $2 per pound. Don't think any copper miner can make money at that price?

    Silver is saved.

    As we have all suspected, silver is the ultimate hedge in the doomsday scenario.
     
  7. heartastack

    heartastack Well-Known Member Silver Stacker

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    Where would demand for Aud come from right now? It’s an export economy right, mainly commodities? Well it’s kind of obvious if that’s the case.. there will be no bottom if there is no demand
     
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  8. openeyes

    openeyes Well-Known Member Silver Stacker

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    We wont be selling stuff any time soon. What manufacturing we have will be severely constrained. Foreign student education severely hit. Tourism dead. etc etc.

    USD is the global savour right. Lets all invest in Trumpy wumpy.

    Another point people don't realise if that our farming community is old. It is a highly leveraged industry in that complex machinery is required for cropping. Most people think farming is a very simple business and anyone could do it. Issue is two fold. Firstly people dont want to farm. Secondly it takes some years to know how to manage crops and livestock with tight margins.

    So if 25% of farmers die it will be devastating to our agricultural economy
     
  9. mmm....shiney!

    mmm....shiney! Well-Known Member Silver Stacker

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    Look on the bright side, we're now at parity with the NZD. Means a whole pack of Kiwis will piss off back over The Ditch. :p
     
  10. 66rounds

    66rounds Well-Known Member Silver Stacker

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    How is silver saved?
     
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  11. sgbuyer

    sgbuyer Well-Known Member Silver Stacker

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    Silver is a by product of base metals. If base metal production slows, silver supply will fall. Copper had been very resilient until a couple of days ago. It was $2.50 even last week.
     
  12. sterling-nz

    sterling-nz Well-Known Member

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    A new export market for us.
    We can export our NZD for your bum related needs and it'll be even cheaper for you.
    At the moment anyway.
     
  13. sterling-nz

    sterling-nz Well-Known Member

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    How does runaway inflation work with zero interest rates?
    IS there a quick explanation?
    Cheers
     
  14. leo25

    leo25 Well-Known Member Silver Stacker

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    It doesn't. That's why high inflation is a central bank worst nightmare, despite what they tell everyone. If inflation gets too high they always have a plan to crash the economy.
     
  15. heartastack

    heartastack Well-Known Member Silver Stacker

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    there are longer videos but you wanted to quickest ;)
     
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  16. sgbuyer

    sgbuyer Well-Known Member Silver Stacker

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    Anyone got a Copper price chart in AUD? I tried searching on the net, only USD. Trying to determine if there's a relationship.
     
  17. slavaja

    slavaja Well-Known Member Silver Stacker

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    Kitco should have them
     
  18. heartastack

    heartastack Well-Known Member Silver Stacker

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    https://fx-rate.net/AUD/XCP/
     
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  19. sgbuyer

    sgbuyer Well-Known Member Silver Stacker

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    Thanks, unless I see it wrongly, the chart is only until Oct 2017.

    Not that I can find.
     
  20. sgbuyer

    sgbuyer Well-Known Member Silver Stacker

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