ozziepom Posted August 1, 2013 Share Posted August 1, 2013 $1.69 last time I looked to the UK pound and under .90 against the US $ (which is the lowest in 3 years). No-one has a crystal ball but I wonder how low it can go... Link to comment Share on other sites More sharing options...
Guest Posted August 1, 2013 Share Posted August 1, 2013 Good news for the Aussie economy. That dollar has really been crippling exports/tourism. Think it can go lower if there's another rate cut which is possible Link to comment Share on other sites More sharing options...
oz bound pom Posted August 1, 2013 Share Posted August 1, 2013 $1.69 last time I looked to the UK pound and under .90 against the US $ (which is the lowest in 3 years). No-one has a crystal ball but I wonder how low it can go... I don't know how low but I know how much I'd like it to go! every cent is good news though (personally speaking) and its certainly heading back to more realistic levels following the dire 1.4 of only a few months ago. If Sterling wasn't being massaged so much then we'd probably see even better rates Link to comment Share on other sites More sharing options...
saunders clan Posted August 1, 2013 Share Posted August 1, 2013 The Aussie boom is definitely slowing. The experts have been predicting this for a while so, for us wanting to emigrate, it's good news in terms of cash in our pockets. Sounds selfish - and I suppose it is! Link to comment Share on other sites More sharing options...
flag of convenience Posted August 1, 2013 Share Posted August 1, 2013 Bad news for folk living in Australia, good only for export business. We will all be poorer. As Australia imports most of what we use on a daily basis as well as big ticket items we will all feel the pinch. Petrol prices will continue to rise also impacting on prices of things. Remember a lot of stuff is moved around the country by road. Overseas travel becomes expensive. Looks like the average Aussie will be confined more to Bali and Thailand, than California and Hawaii. Makes it cheaper for foreigners to holiday in Australia though. But being a low paid industry it is hardly going to have a lot of impact outside of specific areas in the country. Foreigners will be in a position to further snap up farms, real estate and invest in resources and in onshore assets. Australians will feel poorer and be poorer. How low can it go? In actual fact there is no good reason for interest rates to fall beyond another quarter. Hence the dollar shouldn't go bellow 84 or 85 cents. But we shall see. Next year slow downs in the resource sector will become more apparent as it works into the economy. Powers that be may want to then stimulate further by lowering interest rates to stimulate the old favourite the housing market. At the moment the housing market is not improving even with record immigration so if that continues to be the case further decline in rates would see a even lower dollar. Not good. Link to comment Share on other sites More sharing options...
flag of convenience Posted August 1, 2013 Share Posted August 1, 2013 I don't know how low but I know how much I'd like it to go! every cent is good news though (personally speaking) and its certainly heading back to more realistic levels following the dire 1.4 of only a few months ago. If Sterling wasn't being massaged so much then we'd probably see even better rates But you surely don't want to be earning less in OZ than UK due to an ever lowering exchange rate? Link to comment Share on other sites More sharing options...
dodgydarji Posted August 1, 2013 Share Posted August 1, 2013 Its good news for myself as in the space of six months our total budget has gone up be a few thousand dollars. However like flag of convenience mentioned, it wont be so good when we get there and decline continues as it will mean going away will become more expensive etc. Hopefully it means the export industry will pick as it will now be cheaper for folk to buy good from Aus. At the end of the day I am coming to a new country and I want whats best for it ahead of any personal gain. Link to comment Share on other sites More sharing options...
HappyHeart Posted August 1, 2013 Share Posted August 1, 2013 Bad news for those returning? Link to comment Share on other sites More sharing options...
wolvesaussie Posted August 1, 2013 Share Posted August 1, 2013 I dont understand how the whole thing works, before I left australia its was 3 to the pound, yet it was cheaper here, so much cheaper than now.. in Australian dollar terms... as i had never been to england or worked in pounds, the rise in the dollar i thought would have lead to cheaper prices, instead everything gone up so much and we are now one of the worlds most expensive countries.... now if the $ goes back down.... why do prices need to rise when they never seemed to come down in the first place? From years of getting birthday cheques from nan, the average was about 2.4 and Australia motered on quiet nicely at this rate Link to comment Share on other sites More sharing options...
Sir Les Patterson Posted August 1, 2013 Share Posted August 1, 2013 Bad news for folk living in Australia, good only for export business. We will all be poorer. As Australia imports most of what we use on a daily basis as well as big ticket items we will all feel the pinch. Petrol prices will continue to rise also impacting on prices of things. Remember a lot of stuff is moved around the country by road. Overseas travel becomes expensive. Looks like the average Aussie will be confined more to Bali and Thailand, than California and Hawaii. Makes it cheaper for foreigners to holiday in Australia though. But being a low paid industry it is hardly going to have a lot of impact outside of specific areas in the country. Foreigners will be in a position to further snap up farms, real estate and invest in resources and in onshore assets. Australians will feel poorer and be poorer. How low can it go? In actual fact there is no good reason for interest rates to fall beyond another quarter. Hence the dollar shouldn't go bellow 84 or 85 cents. But we shall see. Next year slow downs in the resource sector will become more apparent as it works into the economy. Powers that be may want to then stimulate further by lowering interest rates to stimulate the old favourite the housing market. At the moment the housing market is not improving even with record immigration so if that continues to be the case further decline in rates would see a even lower dollar. Not good. ah "Hanrahan"......you're such a ray of sunshine .................you and your other WA mate the "harbinger of doom" must be an absolute hoot to have a beer with Link to comment Share on other sites More sharing options...
Candygirl Posted August 1, 2013 Share Posted August 1, 2013 It is 1.47 to the Euro which is also very good for us in the Eurozone countries. As has been said, good at the moment and I am sure us "wanabees" will be watching the rates with baited breath, but I wonder where this will leave the Oz economy in the next couple of years. Link to comment Share on other sites More sharing options...
flag of convenience Posted August 1, 2013 Share Posted August 1, 2013 Good news for the Aussie economy. That dollar has really been crippling exports/tourism. Think it can go lower if there's another rate cut which is possible You refer to the wine growers and the back packers they employ on low wages, or the Chinese tourist groups that pay most everything in their own country prior to departure. That will certainly stimulate the economy. Link to comment Share on other sites More sharing options...
Guest Posted August 1, 2013 Share Posted August 1, 2013 You refer to the wine growers and the back packers they employ on low wages, or the Chinese tourist groups that pay most everything in their own country prior to departure. That will certainly stimulate the economy. So only Chinese will holiday Australia??? and wine company's (not the only export) only hire backpackers?? A country with Australia's resources would like to export a lot you would think??? Link to comment Share on other sites More sharing options...
flag of convenience Posted August 1, 2013 Share Posted August 1, 2013 ah "Hanrahan"......you're such a ray of sunshine .................you and your other WA mate the "harbinger of doom" must be an absolute hoot to have a beer with At least we've got our feet firmly on the ground and not in the clouds. And yes while life is not always a ray of sunshine, you would go away better informed not to say enlightened. Stay with the hoons if you want hoots... Link to comment Share on other sites More sharing options...
flag of convenience Posted August 1, 2013 Share Posted August 1, 2013 So only Chinese will holiday Australia??? and wine company's (not the only export) only hire backpackers?? A country with Australia's resources would like to export a lot you would think??? Yes Chinese being the big growth where hopes are being put on. Australia is too far, too expensive for most people ever to come here. There are far more enticing markets closer to travelling rich populations. Thailand and neighbours being in mind. A lot of the world is going through economic conservative times. People want value for money. The OZ dollar would need to decline a lot to make up for the outrageous prices on offer here. I have used wine as one example. Australia does not export much of quality finished products of high value. Just the way it is. Resource prices decline still mean less income regardless of the lowering dollar. The average Australian will feel poorer. Link to comment Share on other sites More sharing options...
Sir Les Patterson Posted August 1, 2013 Share Posted August 1, 2013 At least we've got our feet firmly on the ground and not in the clouds. And yes while life is not always a ray of sunshine, you would go away better informed not to say enlightened. Stay with the hoons if you want hoots... I was born here 65 years ago and have been through a few ups and downs and believe me I have my feet firmly planted on the ground.... I am doing OK and I and the country that has been so good to me will do also.....contrary to all your pessimism Link to comment Share on other sites More sharing options...
Que Sera Sera Posted August 1, 2013 Share Posted August 1, 2013 It's great for manufacturing companies that export though, which is really good news. Link to comment Share on other sites More sharing options...
oz bound pom Posted August 1, 2013 Share Posted August 1, 2013 The average Australian will feel poorer. oh well, that will just make them feel like the average UK resident has been feeling for the past few years. And certainly (selfishly) in the short term if the dollar hit 2+ (unlikely) I'd be very happy. what it goes to in the long term is just what it does in the long term. No real point worrying too much about it when its outside my control. it is what it is. Link to comment Share on other sites More sharing options...
Que Sera Sera Posted August 1, 2013 Share Posted August 1, 2013 Also all the ex pat pensioners will be better of should the Aussie Dollar decline. Link to comment Share on other sites More sharing options...
CrozierFamily Posted August 1, 2013 Share Posted August 1, 2013 Just checked XE and the $ is at 1.699! Is it going to hit 1.7 today? This is a far cry from Easter. How far can it go? I need to change some money for my move in September and don't know whether to do it now or hold off. Decisions, decisions. Link to comment Share on other sites More sharing options...
flag of convenience Posted August 1, 2013 Share Posted August 1, 2013 It's great for manufacturing companies that export though, which is really good news. What percentage of the national export wealth is generated through manufacturing companies though? Those that haven't as yet moved off shore of course. The overall news is negative. Oil price increases alone will push up prices alone. Link to comment Share on other sites More sharing options...
CrozierFamily Posted August 1, 2013 Share Posted August 1, 2013 Boom it just hit 1.7. Can't believe my eyes. Link to comment Share on other sites More sharing options...
flag of convenience Posted August 1, 2013 Share Posted August 1, 2013 Also all the ex pat pensioners will be better of should the Aussie Dollar decline. Well even better news for UK pensioners would be for the UK government restore parity to pensioners frozen at time of UK departure. The increase in cost due to petrol prices and all imports, will hardly make much dent on the GBP gain. Link to comment Share on other sites More sharing options...
flag of convenience Posted August 1, 2013 Share Posted August 1, 2013 I was born here 65 years ago and have been through a few ups and downs and believe me I have my feet firmly planted on the ground.... I am doing OK and I and the country that has been so good to me will do also.....contrary to all your pessimism Glad you had it so good mate. You've got enough years behind you to have been able to establish a comfortable position. There is a difference between critique and pessimism though. I have seen Australia what was and what it has become and am interested into where it is going. Sitting back on the hoofs in apathy may be a popular pursuit among some, but not for me. Link to comment Share on other sites More sharing options...
flag of convenience Posted August 1, 2013 Share Posted August 1, 2013 Boom it just hit 1.7. Can't believe my eyes. The trend is obviously down. The dollar is being talked down. No hurry to buy. You'll be able to buy the street let alone a house if the spiral continues. Link to comment Share on other sites More sharing options...
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