Came on the back of very poor Hong Kong Manufacturing PMI reading which is a reflection on China's manufacturing
Australian Dollar Declines as Retail Sales Data Fuel RBA Rate Cut Bets http://www.dailyfx.com/forex/market...Retail-Sales-Data-Fuel-RBA-Rate-Cut-Bets.html
Yeah that was yesterday's news. This is todays http://news.forexlive.com/!/hong-kong-august-pmi-444-to-its-lowest-since-april-2009-20150904
Another half cent move I missed. That aside I think if anyone here was planning to exchange cash for a holiday or try and get some sub $20aud silver then that moment has passed, in AUD terms it's all uphill from here. Hope you all got your moment at the buffet while it was on.
I don't share the same opinion. I think the AUD is easily going into the mid 60s over the medium term Even if the Fed doesn't raise, yes the AUD will pop in the short-term, but until the Fed announces a 180 degree turn on its polices, the deteriorating global outlook and trade will weigh heavy on commodity currencies.
If you look at the one year chart, aussie to u.s. dollar is still in the downward trend. It has made a 'camel toe' pattern which seems to be reasonably common on the downward legs.
Aud/USD appears to be in a 4th wave correction (trending down) Same with the Euro and GBP I also think Gold is preparing for a fifth wave down (but who knows with Gold) I bought USD in the 0.80s so ill add to the position soon probably as well as buy some GB pounds. Not buying gold yet Betting against Australia has been a great return over the last year. Stock market gains (when corrected for AUD loss) really means stocks haven't done as well as it seems
1 AUD = 0.723114 USD I think silver Sanchez has the right idea. I'm thinking, based on resources prices, oil prices and the slowing economies of Asia, namely China, as well as the current U.S. monetary policy decisions will lead to a weakening Canadian as well as Australian dollar. While it's probably a little far fetched, I would not be entirely surprised at a sub 0.55 USD for each AUD by first quarter of 2017. Buying USD now isn't a dumb idea IMHO.
1 AUD = 0.7105 USD up ^^^ were as low as 0.67 awhile back silver $20.03 , Gold $1568.37 taking a dive
Jim Rogers is saying buy USD Edit to add: if the AUD is going to track gold like it used to, I know what I'd much rather have.