Stupid Aussie Dollar

[Scott Maybury]

Well, the rapid and severe demise of the aussie dollar is causing me serious anguish.

With the dollar getting hit from pillar to post against the greenback, yen and euro it seems to me that the trip I already have booked to New Cal to fish with LPB in April will be the last o/s trip for some time.

 

[Jon Li]

Greeds by speculants in stock exchanges n currency exchanges all over the world caused this , they are certainly a predatory species of mankind .

Jon .

[Brandon Khoo]

it will come back but it will take some time. Unfortunately, this is how international money markets work. I believe the fundamentals of our economy are far better than many other nations.

[Janelle O'Connell]

and on the positive side - surely it has to be great for our export market. 

Janelle

[Andrew Poulos]

and on the positive side - surely it has to be great for our export market. 

Janelle

Except that the things I would like I need to import as they arent available here 
Im hoping for a faster recovery for my share investments too...they dont look too good at the moment.

[Stephen Polzin]

Basically the Aussie dollar was nearing parity with the US because of the Resource story.  Australia has lots of resources which have been in strong demand from China / India etc.  

Now with the Global financial uncertainty and possible imminent recession Resource stocks aren't as popular.  Market sentiment is that the world may not need as many resources in the short term.

Like Brandon says, It will come back but it will take some time.

ps
You're not alone there Andrew, I could name my portfolio 'The Red Sea'

[Andrew Poulos]

As long as my portfolio doesn't become the 'Dead Sea' I have to ride it out ....

[Mark Stotesbury]

what you guys worried about ?in south africa we just fired the presidant of the country and our rand is 9.50 to the us dollar.   

[Jon Li]

it will come back but it will take some time. Unfortunately, this is how international money markets work. I believe the fundamentals of our economy are far better than many other nations.

I am betting it will go back up to US$. 0.75 by next month , have a small stake in it !

Jon .

[Ben Rutkin]

I have a stake in it too - Im bleeding from the anus right now.
Turns out Stellas are cheap in Australia after all.

[Peter Lowe]

Hmmmmm sounds interesting.

Does this have anything to do with Thermal dynamics ?



 

[Aaron Strid]

All I can say is check out the exchange rate of the Vatu to AUS $.  Things always seem brighter on the other side.  More shopping power..........

100 Vatu = $1.45

Now that is what I am talking about.

[Brandon Khoo]

Pete - are you being facetious or is this a seriou question? If a serious question, all I can say is thermodynamics bears more relevance to Ben's statement that he bleeding from the rear end than to the currency fluctuations

Hmmmmm sounds interesting.

Does this have anything to do with Thermal dynamics ?



 

[Jon Li]

For such situation there are few who profit immensely and there far more who suffer terribly , unfortunately . Lessons were learned when the financial crisis hit the Asian countries back in 1997 , more to be learned this time to cope with the worldwide financial crisis . Certainly needs a nerve of steel in such conditions .

Jon .

[Ben Rutkin]

......... or an extreme acceptance of the concept of fate.