Has anyone got a list of items that people normally purchase from overseas?
The AUD in general has been smashed lately and the general trend is for more pain to come.
As ozbargainers, we have a duty to snap up bargains before exchange rate fluctuations hit the consumer. Those old prices probably won't come back for at least a decade or so.
Why not buy USD $$$$ now then.
Beaten like a red headed stepchild.
FX is subject to spread loss. Maybe consider getting Gold Bars coz they're in USD Dollar and resell them?
I think Aus dollar not going down less then 80cents and this year 85 cent at the most which is 6 to 7% means if you invest outsource then currency converter rate will hurt you 1% so question is worth to take risk to invest offsor or put in investment account and earn up to4%.
Buy call options on USD if you believe the predictions.
But remember that predictions, especially of exchange rates, are notoriously unreliable, and also remember that today's exchange rates reflect the weighted average of the opinions of all the market participants. By the time you and I read the articles about why and when the AUD is going to crash, all the major participants in the market have already taken positions betting, er hedging, on the future direction of the rate.
well said
Where's 'Broden' when you need him? He could be buying up US currency and selling AUD bucks..
Absolutely.
Dont have a lot of faith in currency predictions. Most of the experts are only "experts" after the fact.
I don't know why the OP picked 72 cents. Just in the last 20 years the $AUD has been as high as 110, but has also dropped to a miserable low of just 48 cents in 2001.
yep, buy USD, u can actually set up term deposits in USD, Citibank has them, rate is quite low unless u have a lot
The ANSWER as to why our $ is going down is an interesting one. Its going down with the promise of government spending on TERRORISM, which is money wasted, washed down the preverbal dunnie! They could pile on the debt building infrastructure, or services but our beloved leader of team oz has gone 'all the way with the new BJ' BO. Abbott can barely wait for the prez to stop talking before signing up on war unlimited! And he goes to tighten his grip locally with new 'security' laws (hint; its not about OUR security)
So we spend up big, blow out the national credit card and then he revisits the BELT TIGHTENING on the poor.
Such is life… But the effects is to weaken the AU$, which is supposed to be good for exporters, except we don't make anything and they are just selling ever growing holes in the ground to foreigners, so they can build the 21st vision of an advanced society.
We end up with a ditch, and pay top $ for our stuff back as iPods and cars. Its enough to make you cry!
The first rule of investing: never listen to what others have to say.
its gone up again!
what should we sell before the AUD rises to 1 again????
You could always just buy physical US dollars and convert them to AUD when the AUD drops down :-)