What's your prediction on the Australian Dollar?

[codash1099]

Apparently China economic figures were published today showing a growth of 11% - the pundits expected/predicted ~0.1% ....

The pundits apparently know no more than we do

 

[ReLoad]

USA next week, Mrs Reload needs new shoes and a handbag! go you good thing go!

 

[whatmeworry]

IMF thinks we should trade at 80c.
IMF: Australian dollar should trade at

 

[cove]

We bought the pound at 0.55 and the US dollar at .9050 yesterday. It is always possible for these currencies to move either way but we are now pawns of the Chinese economy and a lot of that has very unreliable numbers getting reported.
Just how many ghost cities and homes have been built and remain unoccupied? Yes we can only guess but I do doubt that 53 million empty new homes number mentioned by one of my US and China suppliers.

 

[Powerballsam]

Did you buy the USD at that rate for cash?

 

[cove]

No it heads off to bank accounts so not cash.
I pay bills electronically and only use cash sparingly as my life revolves around credit cards and running up points/ miles.

 

[kpc]

.... as my life revolves around credit cards and running up points/ miles.

:mrgreen::mrgreen:

 

[marki]

Dear Cove,
Next question who do you use for your FX transactions nowadays?

 

[cove]

Bill Giffen at Bell Potter/Bell FX is very good.

 

[marki]

Ok I am becoming very displeased with Amex FX especially the 20 euro they take out for after hours trade i.e. weekends or after 18:00 weekdays.

But now "citibank debit" will do it too from reading earlier posts nil fee they use spot rate and transfer to Bank account in Europe in Euros! No charge.

I have the card but have not used it yet.

I am also pissed of with Commbank for charging a double whammy for doing a bank cheque in USD dollars. Thirty dollars for the bank cheque and generous for them FX exchange rate seeing it fall from 90 cents to 85 ouch!

 

[leadman]

What do you really expect from these banks/companies etc.? I would really like to know how much travellers are gouged, all they different ways they do it, and the relative % of their profits. I hate doing my expenses after each trip, around $150K a year and seeing how the rates fluctuate, (even over a day!!!), all the sneaky charges and the diffenece between the cards. And then the charges from hotels, another story...

The bouncing around of the AUD makes it even worse but looking back at some of my old expense forms we should not complain too much. the figures I used were; 10/2004 THB 28.12, Euro 0.568, UKP 0.3877, USD 0.7485; 8/2002 HGK 4.181, CHY 4.437, NTD 18.154, JPY 63.678, THB 23.535 USD 0.536

 

[marki]

Citibank is fee free still have to use them for the very first time though. Spot rate current.

Amex FX just be careful still get points for the amount transferred around one point for every 20-50$ depending on your account. () 3% on Fx. This is negotiable on larger trades.

To be fair the 3-4 times I did go into after hours trading I was able to get my 20 Euro back!

Now bell direct

 

[marki]

UnunEmployment figures up

Dollar down

 

[JohnK]

IMF thinks we should trade at 80c.

And we should just print more money.

 

[marki]

No no no Monopoly money is just worthless unless u live in monopoly land

 

[Bolthead]

As a side story I went to the bank yesterday to sought out issues I have had a for a couple of years with my 'Travel Card' not working in the USA at all (although as soon as I cross the border to Canada it works). As well it would not work at the same banks ATM at both Singapore and Hong Kong airport. Although worked perfectly well with the Asian bank ATM next to them..... Any way the bank officer mentioned that half the staff where travelling later this year overseas and one of the members had a close friend in FX department of the bank and they have said that the AUD will peak mid to late March. Something to do with some meeting happening in the States treasury that apparently will effect their currency and make ours a little stronger.

Take it for what it is worth...

 

[kpc]

We bought the pound at 0.55 and the US dollar at .9050 yesterday.

HSBC have a multicurrency account and I have just opened one....waiting for the AUD to get over 90c again so I can TF some AUD--->USD. This HSBC account seems to be transaction cost free but their "live rate" seems about 0.5% less than the "live rate" on xe.com which is where I guess they make their money....$50 for a 10K transaction seems OK to me (as a VERY small time Fx trader:shock. If I go to a HSBC branch and withdraw USD cash from my USD account, there is a 1.25% cash handling fee which is not so good . Electronic transfers back to AUD don't attract this fee but seems to come at a "0.5% cost".

 

[marki]

All this reinforces the reason I did not go with HSBC

 

[Jleno]

All this reinforces the reason I did not go with HSBC

.50% spread seems pretty good to me - where else do you get a better fx rate? (Ozforex spread is worse).

Now if you're using HSBC just for FX trading then you are much better off signing up to a FX trading platform and trade that way.

 

[marki]

.50% spread seems pretty good to me - where else do you get a better fx rate? (Ozforex spread is worse).

Now if you're using HSBC just for FX trading then you are much better off signing up to a FX trading platform and trade that way.

Or use Citibank debit card for account transfers overseas! Even better