Aussie dollar trumps US dollar !

This is by no means earth shaking news but from my Aussie perspective, of extreme interest.

I just heard a news report that today the Aussie dollar not only exceeded parity with the US dollar, but for the 1st time in 28 years, has reached a high of $AU1 = $US1.02

Speculation is strong that it may actually go even higher !

Woohooo !! Time to go on a US holiday

Fantastic news indeed !
Perhaps we should switch to the Aussie dollar as the global benchmark from now on considering it's out performing the greenback

reply to post by tauristercus


Yeah I'll be taking advantage by buying directly from the US online. Off course this wont help our local retailers unfortunately but at least it'll help the US economy(they need all the help they can get), not to mention my hip pocket

Was thinking of a holiday in the US but what with the TSA groping people and taser happy cops I think I'll give that a miss.

Originally posted by yizzel
reply to post by tauristercus

 

Yeah I'll be taking advantage by buying directly from the US online. Off course this wont help our local retailers unfortunately but at least it'll help the US economy.

The local retailers can go jump. A pair on converse sneakers in Australia = $90, The US = $45.
We are ripped off with everything here. I know a lot of people that will be hitting the online US stores.

edit: Yizzel, there is only a metal detector when travelling to or from Aus. No groping or xrays.

reply to post by ppk55


Yeah you're right we're being overcharged big time. Been thinking of getting an iPad, if I buy it locally i'd be nearly $200 worse off. Absolutely ridiculous !

As far as the TSA etc, well I was half joking (sorta), maybe I've been reading too much on ATS

Just remember.. Bring your own beer.. Americans cant make good beer.. Good to see australia money gain value..

reply to post by tauristercus


I hear through some channels that we will see $1.10 sometime in the first half of 2011

Silver will reach $40

Gold will reach $1800 to $2000

reply to post by ppk55


You are quite right.....my household will be doing the same. I'm shocked by prices here and the huge markup on imported goods. Shops are already closing up left right and center and watch even more by end of January 2011.

nope, we should have changed 4 months ago when it was .79....it went to 1.150 a month ago, too...my buddy was smart and changed...he's some kind of genius

this is quite disturbing but guess who
helped this along?

Bernanke

by printing another $1T in worthless notes
otherwise known as QE3.

They are just postponing the inevitable.
If they had of let this happen back in 08,
we would have been a lot better off today.
But instead they sucked the populace dry
of their savings and their property in order
to stay afloat. Now the FED has dragged
ALL of us under.

when the worlds reserve currency is devalued
less than several other nations currency, then
it is a sign the bottom is gettin ready to fall out.

As of today, the Canadian Dollar is also worth more than the dollar. The Swiss Franc has been beating out the dollar for several days now.

The Swiss Frank vs. The US Dollar:

From 1.80 to 0.94 in 10 Years. Hyperinflation imminet? Or a chance to pay back some depts?

-> www.cash.ch...

reply to post by boondock-saint


Or here's an alternative for you.

Because the US$ is so low against other country's currencies these countries can now buy more US made products, which in turn stimulates the American economy.

Two people in this thread have already said it is a good time buying US made products, and they're just retail buyers.

I guess it's easier putting a negative spin on it by saying it will collapse the US economy but if you know anything about economics you should at least realise the potential of a weak US dollar.

But at the end of the day, we could both be wrong, there's not much else to do but wait and see.

Originally posted by Chadwickus
Because the US$ is so low against other country's currencies these countries can now buy more US made products, which in turn stimulates the American economy.

what US Products ???

what US Products ????????

we don't make anything anymore

the only thing we make these days
is war materials !!!! And that is limited to
the Military Industrial Complex not the economy
as a whole.

about 90% of the stuff we consume in America
has a label on it that reads:

"Made elsewhere"

so chad I would have to respectfully
disagree with ur assessment.

The Free Trade agreements signed
with other nations of the world has turned
America into a 3rd world country just like
Ross Perot said it would when he was running
for president.

reply to post by tauristercus


isn't that almost 40% higher in 5 years ?

don't know but I was there 5 years ago and two years in a row and the exchange was almost 40% lower

reply to post by boondock-saint


What products? come on boondock, you're selling your country short my friend.

Top 12 U.S. Exports 2007

The following product categories were America’s leading exports in 2007. These categories represent about 38% of total U.S. exports during the year.

Semiconductors ... US$50.2 billion (4.3% of US total Exports, down 4.3% from 2006)
Complete civilian aircraft ... $48.8 billion (4.2%, up 19.6%)
Automotive parts and accessories ... $44.2 billion (3.8%, up 2%)
New and used passenger cars ... $43.7 billion (3.8%, up 28.6%)
Other industrial machines ... $38.3 billion (3.3%, up 17.1%)
Pharmaceutical preparations ... $35 billion (3%, up 13.2%)
Telecommunications equipment ... $31.4 billion (2.7%, up 10.8%)
Organic chemicals ... $31.4 billion (2.7%, up 15.7%)
Electric apparatus ... $31.1 billion (2.7%, up 4.2%)
Computer accessories ... $29.4 billion (2.5%, down 18.7%)
Plastic materials ... $29.1 billion (2.5%, up 15.6%)
Medicinal equipment ... $23.8 billion (2.1%, up 5%).

www.suite101.com...

Top 10 U.S. Exports 2008

Civilian aircraft … US$74 billion, up 1.3% from 2007 (5.7% of total US exports)
Semiconductors … $50.6 billion, up 0.3% (3.9%)
Passenger cars … $49.6 billion, up 13.3% (3.9%)
Medicinal, dental and pharmaceutical preparations … $40.4 billion, up 15% (3.1%)
Other vehicle parts and accessories … $39.9 billion, down 10.1% (3.1%)
Other industrial machinery … $38.1 billion, down 0.6% (3%)
Fuel oil … $34.9 billion, up 124.1% (2.7%)
Organic chemicals … $33.4 billion, up 5.5% (2.6%)
Telecommunications equipment … $32.9 billion, up 4.6% (2.6%)
Plastic materials … $31.6 billion, up 8.7% (2.5%).

www.suite101.com...

Top 10 Countries for U.S. Exports in 2010

The following list identifies the top 20 trade partners and the value of U.S. exports consumed from January to June 2010. Also shown is the percentage increase over the first 6 months of 2009, and the percentage of overall U.S. exports consumed by each country.

These 20 countries received 78.8% of the value of all U.S. exports as of June 2010.

Canada … US$121.9 billion, up 26.8% from 2009 (19.9% of US total exports)
Mexico … $77.3 billion, up 31.8% (12.6%)
China … $41.2 billion, up 35.6% (6.7%)
Japan … $29.2 billion, up 18.1% (4.8%)
United Kingdom … $24.3 billion, up 6.4% (4%)
Germany … $23.2 billion, up 9.5% (3.8%)
South Korea … $19.2 billion, up 52.7% (3.1%)
Brazil … $16.4 billion, up 37.7% (2.7%)
Netherlands … $16.2 billion, down 1% (2.7%)
Singapore … $14.2 billion, up 42.4% (2.3%)
France … $13 billion, down 6.3% (2.1%)
Belgium … $12.3 billion, up 16.1% (2%)
Hong Kong … $12.3 billion, up 26.4% (2%)
Taiwan … $12.1 billion, up 59.5% (2%)
Australia … $10.5 billion, up 15.2% (1.7%)
Switzerland … $9.7 billion, up 7.6% (1.6%)
India … $9.2 billion, up 22.9% (1.5%)
Italy … $7 billion, up 14.6% (1.1%)
Malaysia … $6.6 billion, up 50.3% (1.1%)
Colombia … $5.9 billion, up 35.8% (1%).

www.suite101.com...

Looks pretty promising to me and we haven't got figures for the second half of 2010 yet, when the US dollar died.

I'll wager a lot of Aussie dollars and say that US exports will be up even more.

Originally posted by boondock-saint


about 90% of the stuff we consume in America
has a label on it that reads:

"Made elsewhere"

I agree with you , even in my country every time i go to buy a thing ,its labeled Made In China , not that we used to manufacture lot of things but where are the good old days when we bought quality made things labeled Made in England , USA , Germany , things that used to last for a long time , hell even the cell phones that we buy today are all made in china , uuuuggghhh i think i will do the for real.

reply to post by tauristercus


It was also one of the best buys of 2010 and may also go higher. Perhaps the tax breaks that the rich enjoy may encourage the start up of new export businesses. Then again it may not.

reply to post by tiger5


I'm already looking at the JC Penny catalogue online and they DO ship to Australia!

reply to post by tiger5


For sure, a $1.10 by mid 2011 but we will see $1.05 within 2 months