I understand it's difficult to predict exchange rates, but in your opinion when is the best time this year to buy from the US?
I'm looking at buying a double pram, which retail here is well over $1000, even with sales. However I can get it from the states for about $800,factoring in the current exchange rate and shipping costs.
If you were me, would you buy now or wait?
You know it isnt easy, so with that in mind and also given you would probably want the pram fairly soon, I would buy this month (you may choose otherwise)
Already today the rate is nearing 78c.
Why would I say this
See
http://www.ozforex.com.au/forex-tools/historical-rate-tools/…
(you may need to select the currency AUD and USD)
In that you will see that June on average, shows a tendency upwards and is the highest of any month.
Disclaimer:
Of course this is not financial advice and all decisons you make are your own foolish ones (And mine are solely mine). :)
Best disclaimer I've seen in a long time
Next Thursday at 9:24est
buy before Glen Stephens next speech, he will most like say he will drop interest rates as he wants the AUD to fall more
The AUD/USD is in a long term down trend and they think it will push to the low 60's , but who knows ..
(Shakes magic 8 ball) "Ask again later"
When is the baby due haha
Forex forecasting is a mug's game. There are lots of resources available, eg the Chicago Merchantile Exchange is the world's largest foreign exchange futures market, with rates over the next six months there little changed from today's rate. However, interest rates here could drop, iron ore could shoot up, oil could increase, inflation could increase in the US… there are too many variables to do anything other than guesses. So I'd just do it now. It could go up, it could go down.
Nobody knows. The dollar is up a little today. I think that in a year or two the price of oil will rise back to $80+ which will drag up the LNG oil linked prices and help improve our terms of trade, which will provide a bit of a nudge towards a higher dollar. Similarly, I reckon iron ore is a little lower than it will settle at, but these things are almost impossible to time.
If it were me I would buy it now if I need it now.