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AUDUSD chart
- Thread starter fishbuff
- Start date
Yes its bad news for Australia. Means China wont be buying as much resources and you will soon top the lists of most expensive places in the whole world. China is already looking at alternative sources too i.e. Vale.
You dont have the economy of scale to lower import prices too. Oil is going up which means everything in Australia will rise due to your geographic location as transport costs will more than offset any import price reductions as seen in 2007-2008.
Even Canada is trying to stop the rise of the C$ to prevent this catastrophe from occuring.
http://www.nytimes.com/aponline/2009/10/20/business/AP-CN-Canada-Interest-Rates.html
Oh well I guess you just have to open your wallets to pay for the lower USD.
I dunno why you would post this in the emigration section
Are you trying to deter Singaporeans from going to Australia?
As the US$ sinks then the S$ to A$ just makes it more unfavorable for migration from SG to Australia, with rates going to S$1.3 and beyond.
Or are you trying to tell us the trend is now for Singaporean-Australians to return to SG and take advantage of the exchange rate?
Geez ... Singaporeans should head to Canada and USA if the exchange rate in Aus is too high. Sick of undecisive Singaporeans messing up the property deals here.
It is really nice to spend AUD$ in Singapore, even better still, in Hongkong.
It will be nice to earn Aussie expat pay in Singapore, while the rest of the family remain behind in Aus to take advantage of the Family Benefits.
Geez ... Singaporeans should head to Canada and USA if the exchange rate in Aus is too high. Sick of undecisive Singaporeans messing up the property deals here.
It is really nice to spend AUD$ in Singapore, even better still, in Hongkong.
It will be nice to earn Aussie expat pay in Singapore, while the rest of the family remain behind in Aus to take advantage of the Family Benefits.
You'll not a white Aussie or a ABC, as a ex-sinkie don't think u will NOT be considered as a expat lar. Nowdays, they pay in Sg dollar, expat pay only applicable for the very top senior management level, eg CIO, CFO, CEO.
When it comes it will be good opportunity to buy USD or even SGD. USD though is weak now eventually will bounce back as it is still the most traded currency in the world.
Hang on there.. the exchange is going to hit 1.1 soon.. mining is going strong..
This is going to do more harm than good. Things like exports are going to be expensive and the number of foreigners coming to Oz for uni education etc will drop. If these happen, Australia would be heading for another recession.
Poor me, not white, so no special treatment in Singapore.
But I got
Yeah lor. I'm now in Singapore and though people know I've worked in US and Oz, no special treatment. Because I'm not Ang Moh mah. :(
Poor me, not white, so no special treatment in Singapore.
But I got
If you have A$ then you have enhanced purchasing power with the USD but not the C$. Singaporeans will face higher exchange rates VS both the A$ and the C$.
Remember equilibriumAUD to USD PPP is 1.66 so your opportunities revolve around conversion of A$ to USD and then waiting to see how high the Fed raises interest rates next year and beyond, so profits can be made.
Sad fact of reality isn't it?
Australia's economy is quite different because we have a floating currency exchange. The pricing of the AUD acts as a front-line shock adsorber.
I doubt we will ever go into recession under Kevin Rudd. He did not admit to the last mini recession we had last year.
We did have a "runaway" inflation briefly. But things are not looking that bright. Dr Ken Henry's suggestion of a Golden Age for Australia for the next 50 years is a over-optimistic view - I think.
Frankly, I do not think this is impossible.. for Australia, you cannot rely on the past performance.. coz in the past, minerals are not in high demand... you simply cant ignore this lucky country - while all the 1st world countries are having 30-40% down.. this country managed to stay afloat.. When the 1.3billion (China) & 1billion (India) population demand a specific item and the world is lacking supply.. chaos & rocketed prices will happen.. you'll see it within the next few yrs..
You are assured our sons & sons will continue to live well..
:p
Frankly, I do not think this is impossible.. for Australia, you cannot rely on the past performance.. coz in the past, minerals are not in high demand... you simply cant ignore this lucky country - while all the 1st world countries are having 30-40% down.. this country managed to stay afloat.. When the 1.3billion (China) & 1billion (India) population demand a specific item and the world is lacking supply.. chaos & rocketed prices will happen.. you'll see it within the next few yrs..
You are assured our sons & sons will continue to live well..
There's pros and cons. Resource demand will drive Australian currency at all time high , export will be affected badly especially tourism and Education, 2 lucrative industry Australia heavily dependent upon. Australia is not a natural choice for tourism or education compared to Europe or America, it doesn't command such a premium.
What will not be affected is the increase in immigration population, as global mobilisation means people are still settling out of their home country. Australia is still among the top immigration choice as it scores highly in lifestyle, environment and reasonably cost of living relative to income. Domestically cost of living has become rather expensive and will continue to be so.
To do well in this country u can't just work for others, you have to find a way to work around the tax system eg. investment or entreprenuer or combination of both.
Export of many Aussie products are quoted in US$, so it is the export earning that is affected.
Aiyoh so Jan 2009 exchange rate on par with S$$ now is 1.3 now 30% more cost for A$$
One more reason to avoid Oz
Yes. I have to agree on this.. Based on our salary, we'll probably get about 3-5% increase annually.. You cant beat the inflation.. If you have another vehicle to tag along the growth.. ya sure a winner !! I am trying very hard to work on this. I have another 7yrs of risks taking before i reach 45.. keeping my fingers crossed.
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