Monday, 4 March 2013

Arrrr...forex blues

Another massive **sigh**. Whenever I visit the US the AUD:USD exchange rate always seems to be against me. As of today $1.0000AUD will get you a $0.9791USD (buy-in rate). Ok...lets think positive. This rate still beats my December 2008 visit at a rate of  $1.000AUD = $0.60xxUSD. Falling from the 95c mark...

So USD forex investors, next time you want to speculate on the USD, ask when is the Lazy Paddler's next US visit. Then scoop up some USD...Hello squillionaire in the making!


Who needs forecasts from Harvard-bred economists or MIT statisticians when you have the Lazy Paddler's travel itinerary! You genius!





Footnote: (Ok for those that are interested in the markets and economy):

The explanation for today's fall was pessimistic forecasts of the Chinese Economy, which explains the mass sell off of Aussie shares.
http://www.smh.com.au/business/markets/markets-live-china-scare-wipes-20b-off-shares-20130304-2ffae.html
The Reserve Bank is apparently selling off its Aussie dollar reserves, further increasing the supply of AUDs in forex, leading to further depreciation of the AUD.

I've just ordered my USdosh. Hopefully I can be thoroughly fed at a rate of 97c per AUD while I'm in Hawaii.

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