Guest guest32776 Posted September 29, 2010 Share Posted September 29, 2010 Painful if you absolutely have to transfer money... but brace yourself - looks like the world's stock markets are toppy - when they come off into the next trough the AUD will fall again. A couple of months ago were at 1.84 and no fundamentals are different. All sentiment! Link to comment Share on other sites More sharing options...
Guest The Pom Queen Posted September 29, 2010 Share Posted September 29, 2010 Yes I heard it is going to get worse over the next few months, I really do feel for people with money to move, it's best to get it over now and put in a high interest account. Link to comment Share on other sites More sharing options...
Guest guest32776 Posted September 29, 2010 Share Posted September 29, 2010 Yes I heard it is going to get worse over the next few months, I really do feel for people with money to move, it's best to get it over now and put in a high interest account. Best to transfer over as little as possible in my opinion. The 1.6 situation won't last long (can't see it being as low as this in one year) and I really doubt it will get significantly worse. You would need years and years in high interest to make up for such a whopper of a loss. Hope this helps (I spent many years as a forex broker so know a bit about the currency markets) Link to comment Share on other sites More sharing options...
Parley Posted September 29, 2010 Share Posted September 29, 2010 Best to transfer over as little as possible in my opinion. The 1.6 situation won't last long (can't see it being as low as this in one year) and I really doubt it will get significantly worse. You would need years and years in high interest to make up for such a whopper of a loss. Hope this helps (I spent many years as a forex broker so know a bit about the currency markets) The dollar is going higher and significantly so. It won't be long before it will be in the 1.50 range against the pound. Australian Dolllar, Aussie Dollar, Currency, Forex Link to comment Share on other sites More sharing options...
Guest guest32776 Posted September 29, 2010 Share Posted September 29, 2010 The dollar is going higher and significantly so.It won't be long before it will be in the 1.50 range against the pound. Australian Dolllar, Aussie Dollar, Currency, Forex Possibly in the short term but no need to transfer your life savings over at such a transitory anomaly. Bring over as little as you can and wait. There is more upside for the pound once the UK gets the first level austerity measures out of the way. Inflation looks fruity too and might force an interest rate - hence a stronger pound. Also, what happens when a currency is so strong the export market dries up - the government devalues it - see Japan. Also , it looks like Australia isn't going to escape a carbon tax on mining of some type despite the pre-election promises! Link to comment Share on other sites More sharing options...
Les Avalook Posted September 29, 2010 Share Posted September 29, 2010 More 'new lows' today...:embarrassed: Oh joy.:mad: August 2009 when it was about $2 to £ we looked at houses about $500,000. Today we would need £308,000 to buy that same type of property. :sad: Link to comment Share on other sites More sharing options...
fleabo Posted September 29, 2010 Share Posted September 29, 2010 :embarrassed: (I spent many years as a forex broker so know a bit about the currency markets) OK - in March of this year, would you have said by September we would be back at $1.63? I know I didn't think that would be the case, but here we are. Link to comment Share on other sites More sharing options...
Guest guest32776 Posted September 29, 2010 Share Posted September 29, 2010 :embarrassed: OK - in March of this year, would you have said by September we would be back at $1.63? I know I didn't think that would be the case, but here we are. Probably yes I would have. It was forecast by most that the UK economy would weaken again in the light of the removal of quantitive easing and the beginning of austerity measures. Link to comment Share on other sites More sharing options...
fleabo Posted September 29, 2010 Share Posted September 29, 2010 Probably yes I would have. It was forecast by most that the UK economy would weaken again in the light of the removal of quantitive easing and the beginning of austerity measures. Thanks - I guess I was a bit more positive - so with more QE on the way, and the true magnitude of austerity measures still to be borne, the outlook is not that rosy over the next 2 years. Link to comment Share on other sites More sharing options...
Guest spongy42 Posted September 29, 2010 Share Posted September 29, 2010 probably a silly question but as we will be moving over in the next month to 2 months or so what should i do wait until the last min and change the money im taking with me into $aud or not taking a large amount less than £10k as have job to go to as have employer sponsor Link to comment Share on other sites More sharing options...
Parley Posted September 29, 2010 Share Posted September 29, 2010 My personal opinion only is that things will get a bit worse before any chance of getting better. I'm expecting rate to go down into the $1.55 to $1.60 range over the next month or so. But no-one really knows the future so you need to make your own judgment Link to comment Share on other sites More sharing options...
Parley Posted October 7, 2010 Share Posted October 7, 2010 AUD on a new run today. 1 to 1.60 Link to comment Share on other sites More sharing options...
Guest guest32776 Posted October 7, 2010 Share Posted October 7, 2010 looking ugly...hopefully no more QE in the UK today. I'm sticking my hopes on Gillard bringing back the commodities super tax before I bring over a smidgin more from the UK accounts. Link to comment Share on other sites More sharing options...
fleabo Posted October 7, 2010 Share Posted October 7, 2010 The treasury will have those printers running very soon I think. Link to comment Share on other sites More sharing options...
Jibbah24 Posted October 7, 2010 Share Posted October 7, 2010 The treasury will have those printers running very soon I think. Jeez you really are a ray of sunshine aren't you.....!? None of us can influence the situation ourselves and we are just watching how things progress......however, you seem to take some kind of pleasure/enjoyment out of other people's misery. Either that or really are just on a permanent downer. Pretty much each of your posts on this thread seem to highlight this. Things will improve!! If we didn't beleive this I think your gloom would begin to spread and stick! This is an anomoly and we are all well aware of the reasons why...! Stay positive people....!!:biggrin: Link to comment Share on other sites More sharing options...
fleabo Posted October 7, 2010 Share Posted October 7, 2010 Sorry if I seem insensitive but it seems likely to me that the Treasury will apply some more quantatitive easing and the pound will drop some more. Link to comment Share on other sites More sharing options...
fleabo Posted October 7, 2010 Share Posted October 7, 2010 ...but to focus on the positives, the reason the AUD has jumped today is (apparently) because of stronger than expected employment figures. So it is good news if you are heading out here. Link to comment Share on other sites More sharing options...
Jibbah24 Posted October 7, 2010 Share Posted October 7, 2010 As I say....there are plenty of reasons for optimism and one simply needs to look past all the doom merchants that are always predicting the end of 'the end' and 'much worse to come'...... Hidden in the UK news today.... Manufacturing output rose for a sixth consecutive month in August, growing faster than expected to lift the annual rate to its highest in over 15 years, official data showed on Thursday Link to comment Share on other sites More sharing options...
Guest Guest31881 Posted October 7, 2010 Share Posted October 7, 2010 As I say....there are plenty of reasons for optimism and one simply needs to look past all the doom merchants that are always predicting the end of 'the end' and 'much worse to come'...... Hidden in the UK news today.... Manufacturing output rose for a sixth consecutive month in August, growing faster than expected to lift the annual rate to its highest in over 15 years, official data showed on Thursday Unfortunately every time the UK economy seems to improve the BOE or the government make some form of announcement or take action to keep the value of the £ low. The BOE and Government like a weak £ as it encourages exports, manufacturing increased because exports from the UK are cheap at the moment. If the £ increases in value then it starts to make exports more expensive. On the other hand the very strong Australian $ is making exports from Australia expensive, also making holidays here more expensive, but the deal with China to buy ore from Australia is locked in at a fixed price. So the high $ does not effect Australians biggest export to its biggest buyer. Its no good for those of us who need a stronger £ to survive here, but unfortunatly its a fact of life. Link to comment Share on other sites More sharing options...
pablo Posted October 7, 2010 Share Posted October 7, 2010 All i know is that i never expected it to drop to what it is today when we started this process 3 yrs ago,wish i had a crystal ball,gutted!still going tho,cba leaving it in the UK,just cashing in £ for $ and doing one,IF the hse sells! Link to comment Share on other sites More sharing options...
Guest Guest31881 Posted October 7, 2010 Share Posted October 7, 2010 All i know is that i never expected it to drop to what it is today when we started this process 3 yrs ago,wish i had a crystal ball,gutted!still going tho,cba leaving it in the UK,just cashing in £ for $ and doing one,IF the hse sells! When we started to plan our move and we checked the exchange rate it was $2.60, the drop in value has lost me $750 a month from my pension. There are a lot of members on a fixed income from the Uk and it must really be hurting some of them. I am lucky we managed to get a job that helps support our lifestyle. Link to comment Share on other sites More sharing options...
pablo Posted October 7, 2010 Share Posted October 7, 2010 When we started to plan our move and we checked the exchange rate it was $2.60, the drop in value has lost me $750 a month from my pension. There are a lot of members on a fixed income from the Uk and it must really be hurting some of them. I am lucky we managed to get a job that helps support our lifestyle. I know about your pension mate,thats why i thanked your post,you have my sympathies colin,think it was about 2.4 or 2.5 when we started the process,nothing we can do is there! Link to comment Share on other sites More sharing options...
Guest Guest31881 Posted October 7, 2010 Share Posted October 7, 2010 I know about your pension mate,thats why i thanked your post,you have my sympathies colin,think it was about 2.4 or 2.5 when we started the process,nothing we can do is there! Well I sit here, thinking of "Monty Python" and humming 'ALWAYS LOOK ON THE BRIGHT SIDE OF LIFE'. At least I am here, there are hundreds who are trying to get here and wondering if they will get a visa, and can they afford the move. :biggrin:. I just Keep smiling, stay cheerfull, things will improve with time. :biglaugh: Link to comment Share on other sites More sharing options...
fleabo Posted October 7, 2010 Share Posted October 7, 2010 No QE this month! That is good news. Link to comment Share on other sites More sharing options...
Guest Mark X Posted October 7, 2010 Share Posted October 7, 2010 And it will go back up...but when? how long do you think the recovery in Europe will take and do you think the dollar is over valued here? I think it is and the housing market is def over priced. Link to comment Share on other sites More sharing options...
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