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lionking
16th October 2010, 04:32 PM
The Australian dollar broke through the $US1 mark on the weekend, and it is forecast to get up to $US1.10. This is a long way from the $US0.4745 it was in 2001 (and from the $US0.70 where it was when I travelled overseas in 2007 :().

Yes I know part of the reason is the weakening US dollar, but it's more to do with our relentless resource boom, fueled by Chinese demand. I know exporters are hardly doing cartwheels, but this is still good news for the economy which dodged the recent recession.
atecom
16th October 2010, 05:06 PM
Do you have a source for this?

Everywhere I still read its above 99 US Cents but below $1 and looking at the http://www.xe.com/currencycharts/?from=AUD&to=USD it seems it has been all weekend.

Is it considered parity if Its worth $1 when rounded to the nearest cent?
Madalch
16th October 2010, 05:09 PM
The Canadian dollar is also near parity with the US$, although it has been close more recently.

I've long joked that our dollar is stronger than the US one, regardless of the value. Have you ever tried to tear a loonie?
lionking
16th October 2010, 05:22 PM
Do you have a source for this?

Everywhere I still read its above 99 US Cents but below $1 and looking at the http://www.xe.com/currencycharts/?from=AUD&to=USD it seems it has been all weekend.

Is it considered parity if Its worth $1 when rounded to the nearest cent?
It slipped over on Friday night:

http://www.theage.com.au/national/dollar-to-eclipse-greenback-say-economists-20101016-16odv.html


THE AUSTRALIAN dollar, which created history on Friday night by briefly reaching parity with the US dollar, could again exceed parity some time this week, according to analysts.
Skeptic Ginger
16th October 2010, 05:46 PM
Oh good, more EBay customers for me. :D
nvidiot
16th October 2010, 05:56 PM
Lol I bought a whole pile of glassware 2 months ago and I'm only now getting it sent out due to delays. If I'd waited till now to order I would has saved more than a hundred on the purchase.

But it's fascinating to see the dollar so high, I wonder what this bodes for future television purchases...
lionking
16th October 2010, 05:58 PM
But it's fascinating to see the dollar so high, I wonder what this bodes for future television purchases...


Like all imports, ridiculously cheap.
Reaver
16th October 2010, 07:12 PM
Can I take advantage of this, like buy US treasury bonds or something?
Francesca R
16th October 2010, 11:08 PM
Do you have a source for this?
It slipped over on Friday nightSurvey says: only just

http://forums.randi.org/imagehosting/127464cba915ae0895.jpg

Can I take advantage of this, like buy US treasury bonds or something?Best done by selling to the Aussies. Buying USTs will lose money if the AUD goes up any more and make money if it falls again, and if it stays the same you earn less yield than from AGBs
lionking
16th October 2010, 11:20 PM
I might be wrong here, but it seems to me that if the US recovery is strong, worldwide demand will lift, our resources will be more in demand and the $A will rise against the $US. Conversely if the recovery stalls the $A will still rise as the $US weakens. Either way it will remain high. Is this right?
Francesca R
16th October 2010, 11:35 PM
Calling any market a "one way bet upwards" when it is at an all time nominal high seems like it may contain some risk of being wrong . . .
lionking
16th October 2010, 11:37 PM
Calling any market a "one way bet upwards" when it is at an all time nominal high seems like it may contain some risk of being wrong . . .

You're probably right, and I'm certainly not going to put any of my hard earned on a speculative bet like that.
rjh01
17th October 2010, 12:28 AM
I might be wrong here, but it seems to me that if the US recovery is strong, worldwide demand will lift, our resources will be more in demand and the $A will rise against the $US. Conversely if the recovery stalls the $A will still rise as the $US weakens. Either way it will remain high. Is this right?

No. It all depends on how strong each economy is. If the US economy recovers and the Chinese stop buying our resources then the Australian $ will sink. Then there is the wild card of speculators of one sort or another.


Edit. Pity the person that bought the Australian $ at its peak.
lionking
17th October 2010, 12:31 AM
Edit. Pity the person that bought the Australian $ at its peak.

Let's see about that. Some experts are predicting $1.10 at least.
lionking
4th November 2010, 04:30 PM
Well the $A has settled at over the $US1 mark. Am I enjoying amazon at the moment!
rjh01
4th November 2010, 05:34 PM
Here is a good graph of the exchange rate.

http://www.xe.com/currencycharts/?from=USD&to=AUD

Edit. I guess this deserves to be headlines on tonight's TV news. It is not just one transaction, it is a full day.
Corsair 115
5th November 2010, 11:35 AM
The Canadian dollar is also near parity with the US$, although it has been close more recently.


In Sept. of 2007 the Canadian dollar hit an all-time high of $1.10 U.S. Interestingly, just some five years before that, it was at an all-time low of $0.62 U.S.
lionking
24th December 2010, 12:24 AM
Okay, $1.03, and entrenched above parity it seems.

I also saw a report that Australia was the number two target for international company takeovers, after the US. Thank goodness for our mines.
lionking
10th April 2011, 05:41 PM
$1.06 and going up. $1.10 is next. Can't wait to travel overseas.
rjh01
10th April 2011, 10:36 PM
Though part of the issue is that the US dollar has fallen in value. See this for US Euro conversion http://www.xe.com/currencycharts/?from=EUR&to=USD&view=1Y. Ditto for the Yen and China. These are from memory are three major trading partners.
lionking
27th April 2011, 02:36 PM
Up to near $US1.09. About to book an overseas holiday.
rjh01
27th April 2011, 02:41 PM
And it will go even higher if an interest rate hike seems like due within a month.
lionking
27th July 2011, 01:02 AM
Wow, over $US1.10 now, and moving up to $US1.20 I think, even higher if the US credit rating drops. I'm going overseas next week. Yahoo!
rjh01
27th July 2011, 01:42 AM
What happened between 1:40 and 1:50am UTC 27/7/11? At that time the dollar went up in value by $0.01c.

ETA. Got it. CPI went up by .9%. Figure released at 01:30am UTC by ABS

ETA2. The ABS link http://www.abs.gov.au/ausstats/abs@.nsf/mf/6401.0?OpenDocument
Tippit
27th July 2011, 01:50 AM
The Australian dollar broke through the $US1 mark on the weekend, and it is forecast to get up to $US1.10. This is a long way from the $US0.4745 it was in 2001 (and from the $US0.70 where it was when I travelled overseas in 2007 :().

Yes I know part of the reason is the weakening US dollar, but it's more to do with our relentless resource boom, fueled by Chinese demand. I know exporters are hardly doing cartwheels, but this is still good news for the economy which dodged the recent recession.

That's odd, I've been told repeatedly on this forum that a strong dollar is bad, and exports are the only thing that matters.
lionking
27th July 2011, 01:56 AM
That's odd, I've been told repeatedly on this forum that a strong dollar is bad, and exports are the only thing that matters.

A strong US dollar or a strong Australian dollar?
Tippit
27th July 2011, 02:05 AM
A strong US dollar or a strong Australian dollar?

A strong US dollar as it pertains to the US. It may not have been clear, but I was being facetious. The weak dollar as it benefits the dollar denominated costs of exporters is but one of many bogus reasons used by pro-inflationists and other assorted statists to justify the destruction of the US dollar.