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AUD, Australian Dollar Discussion
mullokintyre
post Posted: Mar 18 2020, 11:54 AM
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In Reply To: mullokintyre's post @ Mar 12 2020, 11:06 AM

smashed thru the 60 cent barrier. Down to .5990.
Just how low can it go??
In the olden days, a falling currency signals inflation and rising interest rates.
Only change in interest rates is down according to the RBA
.Can't see much inflation on the horizon, especially with oil being crunched without obvious let up any time soon.
Good for exporters, not good for importers.
Beef exporters will be happy. Beef prices are sky high in Oz, but the prices are ameliorated by lower AUD.
No 2 son was going to buy some cattle this week, but with prices in excess of $4 a kilo, they were just to expensive for something that is just a sideline.
he says he will just keep growing hay instead.
Cattle will start to be rustled soon, saw it with sheep last year.
Professional mobs with dogs and trucks searching for isolated paddocks with stock in them.
Mick



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mullokintyre
post Posted: Mar 12 2020, 11:06 AM
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AUD v USD currently 6474.
Now firmly below 65.
Don't know how far it will fall, but i can't see anything on the horizon that will cause sentiment to rise in relation to the AUD.
Still surprised that PM's have not really broken out.
But the further this crash/correction/rebalancing goes on, the bigger the eventual rise will be.
No overseas trips for us this year, what with corona Virus, falling AIUD, and my SMSF falling every day.
Mick



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nipper
post Posted: Mar 11 2020, 10:15 AM
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In Reply To: cooderman's post @ Mar 11 2020, 09:41 AM

Thought I saw it somewhere. ....from the AFR

QUOTE
flash crash in the Australian dollar pushed it to its lowest level against the US dollar since 2009 on Monday, as currency markets panicked over rising economic uncertainy from the coronavirus outbreak.

The heavy fall appeared to be sparked by movement in the Japanese yen, which rose quickly against the US dollar, igniting rapid movements across global foreign exchange markets.

The Japanese yen had been weakening slightly against the US dollar through the morning before reversing that decline just before midday.

That trade quickly gained momentum with the Australian dollar diving just before 12:30pm. The Aussie tumbled as much as 4.6 per cent to a low of US63.12¢ in just over 20 minutes, its lowest level since March 4, 2009.

At the same time, the Japanese yen soared against the greenback...




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cooderman
post Posted: Mar 11 2020, 09:41 AM
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In Reply To: nipper's post @ Mar 11 2020, 09:00 AM

Hi Nipper..... Monday early afternoon there was a shake out. Low .631s. Gap traders if they were Long, were whacked with a big stick.Stops become On Market trades,and you take the best price Broker can get.

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nipper
post Posted: Mar 11 2020, 09:00 AM
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In Reply To: mullokintyre's post @ Mar 11 2020, 08:22 AM

wasn't there a flash crash -type event just yesterday?



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"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne
 
mullokintyre
post Posted: Mar 11 2020, 08:22 AM
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AUD V USD now down to the 64 handle.
Been a while since we were down in that territory.
Mick




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cooderman
post Posted: Mar 3 2020, 01:39 PM
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around 40 pip spike up for AUD. Seems traders were expecting 50bps cut. May touch .6586.. I won't touch it for now.
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Pendragon
post Posted: Mar 3 2020, 10:07 AM
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In Reply To: mullokintyre's post @ Mar 3 2020, 06:56 AM

Time to go back to the gold standard.
The American dollar is worthless, but because it is the currency of world trade it has an intrinsic value. Not fair!!!

I am worried about how much my next holiday in the US is going to cost me.


 
mullokintyre
post Posted: Mar 3 2020, 06:56 AM
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In Reply To: Pendragon's post @ Mar 2 2020, 10:18 PM

Most countries are printing their currency like toilet paper.
And they have negative interest rates. The US has , for the moment, a small positive rate.
And besides, if the USD was not the currency of trade, what would it be replaced with?
The yuan /renmimbi? Not likely in this climate. The yen , euro, uk pound?
None of them are great contenders, and not well trusted.
Perhaps the swiss frank could be the one.
Mick



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Pendragon
post Posted: Mar 2 2020, 10:18 PM
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In Reply To: mullokintyre's post @ Mar 2 2020, 08:38 AM

What I do not understand is the "value" in the American dollar.
How can it have value if they are printing it like toilet paper????

 
 


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