Australian Dollars to US Dollars ~ Today Tonight

On the topic of China, I seem to recall reading that China is selling US bonds and has sold at least a hundred billion dollars so far in an attempt to prop up the Yuan.
 
The Australian Dollar represents the economy of Australia and is the fifth most commonly traded currency in the world.


The Australian Dollar had a fixed exchange rate until 1983 when the Australian Labor government floated the currency. The Australian Dollar was part of the Bretton Woods system from 1946 to 1971 with which the Australian Dollar was pegged to the British Pound (which was fixed to the US Dollar which was pegged to Gold) until 1967. As Bretton Woods began to break down, the value of the Australian Dollar was converted to a traditional peg against a floating US Dollar.
Click to expand...

http://www.dailyfx.com/aud




Forex Volatility Risk Remains High on Critical Week for US Dollar

http://www.dailyfx.com/forex/fundam...y-points-to-major-US-Dollar-market-moves.html
 
Golden ChipMunk said:
Currencies Watch

1 AUD : 0.7058 USD
Click to expand...
This is piffle.
Look at my F##kn currency > 1NZD: 0.633 USD.

Makes me happy that i have USD , but sick that i do not have more.
I think i literally hit the bottom on my conversion (posted here somewhere at the time) but wish i could have afforded more.
ARGHHHHH!
 
1661609.jpg

64306273.jpg
 
AUD/USD Down Under $0.7000 as HY, EM FX Pressure Remains

Talking Points:

- AUDUSD dips below $0.7000 for the first time since April 2009.

- USDOLLAR Index aims for retest of range top near 12070.

- See the DailyFX economic calendar for Wednesday, September 2, 2015.


As equity markets around the globe struggle to find solid footing amid mounting concerns over Chinese economic growth, the US Dollar has seen a number of forces come into play to influence the direction of the broader USDOLLAR Index. While the pause in European equity market selling may have quelled short covering in EURUSD, and similarly a lack of further downside in USDJPY, other non-equity market-centric pairs are maintaining price action commensurate with trends established over the past several weeks.


For the AUDUSD in particular, fears of economic growth being choked off due to a broader slowdown in China and emerging markets seem to be coming to fruition, with the latest Q2'15 Australian GDP report showing a slowed pace of growth, both relative to Q1'15 and expectations for Q2'15. As the market builds towards the September 17 FOMC policy meeting, there's decent reason to believe that AUDUSD can maintain its move below $0.7000 in the interim (having started its attempt to settle at its lowest levels since April 2009 today).
Click to expand...
see link to read further


http://www.dailyfx.com/forex/fundam...nder-0.7000-as-HY-EM-FX-Pressure-Remains.html
 
Credit Crunch said:
The lower AUD is a positive for the Australian economy however.
Click to expand...

Only in the sense that getting a big pay cut is more positive than losing your job.
 
Credit Crunch said:
hawkeye said:
Credit Crunch said:
The lower AUD is a positive for the Australian economy however.
Click to expand...

Only in the sense that getting a big pay cut is more positive than losing your job.
Click to expand...

Its a pay cut only if you are taking your holidays overseas or want to buy imports.
Click to expand...

It's a pay cut if you want to buy anything that is imported or in some way uses imported goods. That makes it a pay cut for pretty much everyone since Australia doesn't actually produce much of value beyond the basics.
 
Credit Crunch said:
hawkeye said:
Credit Crunch said:
The lower AUD is a positive for the Australian economy however.
Click to expand...

Only in the sense that getting a big pay cut is more positive than losing your job.
Click to expand...

Its a pay cut only if you are taking your holidays overseas or want to buy imports.
Click to expand...
Go to Kmart, Woolworths and Bunnings and tell me what percentage of stock is made in Australia from only Australian materials/ingredients.
 
hawkeye said:
Credit Crunch said:
hawkeye said:
Only in the sense that getting a big pay cut is more positive than losing your job.
Click to expand...

Its a pay cut only if you are taking your holidays overseas or want to buy imports.
Click to expand...

It's a pay cut if you want to buy anything that is imported or in some way uses imported goods. That makes it a pay cut for pretty much everyone since Australia doesn't actually produce much of value beyond the basics.
Click to expand...
Very bad for high tech businesses just starting up and having to import increasingly expensive equipment in an environment where banks are adverse to business lending. Very bad also for businesses that have to retool to stay competitive.
 
Keeping the interest rates low, and making them lower, is only ultimately to protect the property prices (and by proxy the banks). When people can't afford as much because of the lower dollar, that's the reason why. You are helping to pay for the great australian property obsession.
 
You must log in or register to reply here.
Back
Top