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Old 13-10-2010, 13:20   #1
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Aussie $$$ vs American $$$

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Australian dollar moves close to parity
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October 14, 2010 - 5:54AM
The Australian dollar has hit a 27-year high against the US dollar late in European trading.
The Australian currency climbed to 99.29 US cents at 1605 London time (0205 AEDT Thursday),
Australian dollar moves close to parity

It'll probably come off with profit taking but its good news for Aussie cruisers
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Old 13-10-2010, 13:29   #2
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All my boat bits are getting cheaper, now I just need to close on the boat!
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Old 13-10-2010, 13:33   #3
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I think it sucks.....

I want the dollar to dive, dive dive.... then I can sell up and move home.
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Old 13-10-2010, 13:39   #4
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These things tend to move in cycles, of course, but for the foreseeable future, the direction for the $US is down. Not straight down, of course, but the trend is downward, nevertheless.

If I had traveled to the US from Oz to buy a boat, being forced to exchange $AU into $US to make the purchase when the exchange rate favored the $US, I wouldn't compound that unfortunate event by sailing the boat around the world, then re-selling it in the US when the $US I'd receive at the close would buy many fewer $AU. If I were in that position, I'd keep right on going back to Oz and sell the vessel there.

None of the above may apply to you, Mark, and it may well be that you have no intention of selling Sea Life at any time. I'm just pointing out that any $US that someone exchanges into almost any other currency, presently, will not go very far. The only reason to make such an exchange now is, 1) because one has to, and, 2) because it will probably only be worse the longer one waits.

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Old 13-10-2010, 13:43   #5
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It is GREAT news and very welcomed.. I just find it funny that I've always traveled when the currency was in the exact opposite direction to where I want it to me.. Went to London when the worst exchange rate was happening for the us dollar. Now, I'm here in the southern hemisphere, BAM, the exchange is nearly on par... oh well.. LOL
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Old 13-10-2010, 13:53   #6
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Boat trading is important - no doubt...

But for Aussies cruising on a fixed monthly budget (or income) in US dollar areas it cam mean quite a happy extra few dollars every month.... 20% more than a year ago...

Thats lots more that can be spent on 'above the line' costs = eating out! luxury stuff, or things we have been saving for.

Its not bad for the US economy as it makes exports cheaper.

As you say, its cyclic... so we better enjoy it now
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Old 13-10-2010, 15:17   #7
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Come on my little AU dollar dazzler , just hang about for a little longer ,.
Till I get my little floating dream.
It really can destroy your dream , as fast as it creates it ,although they are saying it should hang about up the high 90,s for a bit .
When your making offers in the 160k US range , this has the ability to save you thousands,compared to a couple of months ago, as long as it doesnt work backwards.
Be nice to me now and stay for another drink. Ill shout the taxi .
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Old 13-10-2010, 15:56   #8
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Wow.. Bring on the cheap imports! Then the down side-less jobs as asian sweat shops are now even cheaper. It also makes the Aussie Coal, Iron Ore and other primaries that bit more expensive and less competative to export. But hey, it means I can import a cheaper outboard for the tender, so happy days. :P
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Old 13-10-2010, 16:23   #9
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Yes , its not a posotive thing for Aus exports . Making our prices to high.
I have an uncle in the cattle industry and they will suffer for awhile .
But for me , its a good thing.
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Old 13-10-2010, 16:42   #10
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Mark,

Good point about cheaper US exports. Some economists are predicting a bounce back from our current recession due to a lower US$ . That's the recession we were just informed ended 6 months ago.
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