Australian dollar tumbles to lows

1

Only a few pips from a new low…

Comments

    • AUD trade balance (feb) comes in @ -$1253 million beating market expectation of $-1300millon.

      The real kicker is that January was @ $-900 million..

      • No simplicity – the real kicker is that the Current Account Deficit for the month would be around $3.5 BILLION.- and this is in a short month!

      • Can’t find those numbers flawse, but what do you reckon will new York break support tonight?

        If they do where to for the aussie?

      • Simplicity – I’m no trader – bit busy doing what I do. So I have no opinion.re the CAD number itis just that it is, consistently, 2.5 to 3 bill moe in deficit than teh Trade bal numbers. The hooha over the Trade Balance numbers annoys me as I believe it is used to hide the real tragic numbers in teh CAD – part of pulling the wool over the eyes of the Aus people that everything is OK..

        Nevertheless I agree with your prognosis – the wind is dropping out of this sail! As an importer it effing hurts although I have a bit of cover there is only a certain amount one can do.
        I’ve been working on an export business for a couple of years – we’re about to start selling – except it is out of New Zealand – still if we make a quid the conversion will still work.

      • Anything & everything I suppose… was referring to houses since we manufacture/produce nothing else. If only we could find a way to keep coffee hot and curdle free for a few weeks…

    • What does a rapidly falling Australian dollar say about the numbers of O/S investors changing their money into AUD?

      • Stat – your question comes from some tidbit of information? What’s your observation?

  1. If it breaks support then watch out.

    I said to a friend the other night if it breaks support this soon then consider that to be the biggest signal that Australia is fucked.

    Straya is starting to make that woooshing sound… And it’s not foreign investors entering.

  2. It’s interesting – if you look at the long-term charts, the GFC crash and recovery is obviously just a blip in the mining investment boom arc of the AUD. Taking that in to consideration, we’re actually back to 2006 levels, not 2009.

  3. I can’t figure out which will implode faster: the Aussie economy or the US or the Chinese or the Japanese or Europe.

    • Yep, down to 0.7558 right now.

      If you were in Europe or the States you wouldnt want to be sitting in AUD over easter, last thing you would want is to get out of bed tuesday and discover the RBA has gone overboard rates wise or really talked the currency down.

  4. Exactly
    Triple whammy this week

    continuous decline in commodities beyond what any bull can bullshit their way out of. (kouk example)

    Holiday liquidity buying up usd

    RBA decision early tuesday with high expectations.

    I wouldnt normally suggest this but if we get a nice break past this support consider putting a nice long term short in place. Its my honest opinon that there will be a very strong resistance made at this price apon any future bullish moves.

    Anywho theres a smile on my face this evening, im sure everyone can guess why 🙂 Cheers guys, Happy Easter!