JuddsABlue
Norm Smith Medallist
Leaving for the US in a bit over a week, will this government shutdown thing have any effect on the dollar?
AUD/USD Exchange
- Thread starter Andyroo
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- #402
At the moment it's dragging their dollar down.
I think sensible people assume that it'll get sorted fairly quickly but who knows, there are some very loud reasonably far right (by our standards) voices pushing an agenda here and they might dig in. If it drags on it'll cause increasing level of uncertainty and concerns about the US economy which effects everything and is therefore hard to predict...
The price you can get today is about 94 cents... that's pretty decent... no doubt though the Aussie banks will give you a good raping if you try to actually exchange any though - what they actually paying today?
Do you have any US bank accounts or a friend there who would hold your money? Ozforex gives you a pretty good rate for buying USD.
- Banned
- #405
Thats a somewhat misleading post. The same article says it COULD be at 97 cents. Depends on the modelling and a whole host of variables ...
http://www.smh.com.au/business/mark...g-benign-collapse-to-us66-20140224-33cfl.html
Cant see it. Will hover around the 80c mark imo
Didn't read it all to be honest
George Washington
Premiership Player
Breaking News! Exchange rates may go down, or they may go up! We are 100% confident they will fluctuate!
Diversify and hedge is the answer.
- Banned
- #410
Agree. Reckon they will bounce between there and 85c for the rest of 2014 at least barring any major international events
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- #411
Here is a question for the resident currency experts.
Is the "Average Australian" who goes on a holiday perhaps once every 5 years to the states and who's investments are based onshore better off with a with an exchange rate hovering around parity or 80 cents?
Yes I know its a complex issue and it depends on your investments and employment, but it is possible to take a side.
Is the "Average Australian" who goes on a holiday perhaps once every 5 years to the states and who's investments are based onshore better off with a with an exchange rate hovering around parity or 80 cents?
Yes I know its a complex issue and it depends on your investments and employment, but it is possible to take a side.
- Banned
- #412
It is a complex issue and depends on a number of factors such as are your investments on shore tied up in cash, property, shares ( if shares what does the company do?)
From a selfish perspective I like the AUD as high as possible due to the increased purchasing power both when purchasing directly from suppliers overseas through the Internet or indirectly with items such as fuel a lot cheaper and an admittedly small portion of that passed on to consumers and of course cheaper holidays. Having said that I am on a salary with investments on a 70/30 split between property and shares in Australian banks and mining companies so I don't have a huge degree of exposure to currency fluctuations.
From a macroeconomic perspective there are a lot of broader implications as it does hurt businesses big time and if the AUD was sustained at parity for any great length of time would kill off not just manufacturing but also a lot of retail etc in this country.
Has anyone transferred AUD to USD as an investment lately? Is it possible to open a bank account in the U.S from Aus in order to transfer AUD into USD and let it sit/collect interest? I wanted to exchange some money whilst the AUD is reasonably high and don't really know the best way to go about it.
Any assistance would be greatly appreciated
Any assistance would be greatly appreciated
George Washington
Premiership Player
You can buy a USD ETF that trades on the ASX, alternatively buying options/CFD's would also give you the same exposure.
Thanks for the reply. Unfortunately, I have limited knowledge and time to be on top of these type of investments.
I was hoping to keep it relatively simple and transfer Aud directly for USD. I don't desperately need to money now so I was hoping to put it in a U.S account, collect some interest and exchange it in a few years if the AUD drops.
Anyone done something similar to this? Are there any negative aspects to my thinking other then the cost of transferring the money back and forth?
George Washington
Premiership Player
iluvparis
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I doubt you'd get any interest on the US bank account given their interest rates are basically 0%.
