What are the chances of it reaching 2013 levels again? They are sure talking about it a lot in the news at the moment. Is it worth holding off on some purchases for a couple of weeks to see what happens?
Is Our Dollar Heading Back up to Parity with The USD?
King Steuart on 18/07/2017 - 12:39
Comments
nor OzBargainers
OzBargainers were right about chaincoin
Most likely by dumb luck.
Yep I was hoping for some knowledgeable insight but mostly just got lip and sarcasm. Results as expected.
Anything can happen, but are your saying you think if you wait 2 weeks it will be at parity then?
That seems unlikely.
No it would never go up that fast.
So what will 2 weeks wait do?
Just to see the results of the current speculation. Over the past week, two events took place that pushed the dollar above .78USD, so it'll be interesting to see if it gets above .80 by the end of the month. Reading the markets is more about short-term gains than long-term predictions.
LOL! Parity….
Of course it won't go back to Parity. The US federal reserve isn't going to cut rates in the near future and their economy is growing.
If history is anything to go by, companies won't lower their prices unless the AUD/USD goes up by a significant amount.
You might see a price drop at 85 cents.
it happened before why cant happen again? 5 years ago no one will believe aud will = usd but it did happen
yeah but i think that's because it was on the back of a huge mining boom
Enormous prices for our iron ore and coal exports coupled with much higher interest rates in Australia compared to the USA and Europe lead to the AUD$ reaching parity and climbing quite a bit beyond it.
We're unlikely to see such conditions again within the next decade or two. At some stage China will stop building ghost cities and the RBA is unlikely to allow parity exchange rates again as such rates did enormous harm to the non mining export sector.
People lose their jobs with parity.
Just pay more for your goods man.
If it does than we will have to listen to Gerry Harvey whingeing again
And no more cheap flights to Hawaii!
Yes, the dollar dropping certainly meant we did not have to listen to Gerry whingeing anymore… :-/
Gerry likes a good whinge regardless of the reason.
Dollar up? Whinge. No GST under $1k? Moan. Amazon coming to disrupt his real estate empire? Sob.
A few years ago we had the stories about how it was going to drop to 50 cents.
How come no-one ever bothers to go back and see how well the predictions from then turned out?
It was below 50c in 2000. What an expensive holiday to the USA that was…
I feel your pain - the day I flew to the USA in 2000 it had fallen to 49.5c !
Exactly. These experts need to be held to account for their predictions.
But meteorologists get away with being wrong half* the time!
*may be wrong
A rather silly analogy and definitely* incorrect. Meteorologists make forecasts based on science and they are held to account if they get it wrong.
*without doubt
It is impossible to forecast exchange rates as they are subject to so many factors that cannot be predicted.
RBA has signalled that they want to get the cash rate back up to 3.5% (currently 1.5%). AUD will likely appreciate (and has a little bit from the signalling). Not sure if it will get back to parity, but 80c-85c seems to be expected.
The only thing anyone can say with any degree of certainty: don't take any financial advice from the freaking news media.