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Thread: Aud

  1. #1
    Senior Member briofoz's Avatar
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    Aud

    I see the AUD is now under 29TBT at my bank (BKK Bank). Will it ever rise again?

  2. #2
    Super Moderator LivinLOS's Avatar
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    China may not overtake America this century after all - Telegraph

    I see some of the realizations in that, which is what I have been saying for a while now.. As being a major trend driver.

    We are not at an inflection point yet, but its there on the roadmap.

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    The traditional view has been that China will become an ever expanding western style consumer market but maybe that view is fading now in favour of a more realistic two tier domestic economy.

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    Quote Originally Posted by briofoz View Post
    I see the AUD is now under 29TBT at my bank (BKK Bank). Will it ever rise again?
    Yes, only question is when.

    This is fear over the next budget. The budget isn't going to be good but most of the Fear, Uncertainty and Doubt (FUD) is coming from the Murdoch press with the anti-Labor rhetoric turned up to 11. Frankly "The Australian" is doing more to ruin the Australian dollar than Wayne Swan ever could.

    But then again, a weak AUD benefits Murdoch.

    It might bounce back after the budget announcement.

    I'm not sure about September though. The next election is going to be about boats and bucks, to be honest I have little confidence in Labor... and even less confidence in Liberal.

  5. #5
    Yes
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    ^What terrible choices ..total lack of talent in the OZ political scene.Tony as PM is more than enough to keep me in LOS

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    Senior Member soupdragon's Avatar
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    Quote Originally Posted by briofoz View Post
    I see the AUD is now under 29TBT at my bank (BKK Bank). Will it ever rise again?
    Talk in the media of a BOT intervention later this month maybe around the 28th. May trigger a weakening of the baht.

  7. #7
    Senior Member nelsonone's Avatar
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    The Govt reduced official interest rates last week....most probably had some part in a slight devaluation as investors sell $AUS because it is less attractive

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    I just got a phone call from George Soros confirming the success of
    his set play from last week....

  9. #9
    Senior Member briofoz's Avatar
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    Quote Originally Posted by Changone View Post
    I just got a phone call from George Soros confirming the success of
    his set play from last week....
    Who is he??

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    Worlds most succesful currency trader and the source of many rumours in the currency market today...

    No. 1: George Soros Vs. the British Pound
    The British pound shadowed the German mark leading up to the 1990s even though the two countries were very different economically. Germany was the stronger country despite lingering difficulties from reunification, but Britain wanted to keep the value of the pound above 2.7 marks. Attempts to keep to this standard left Britain with high interest rates and equally high inflation, but it demanded a fixed rate of 2.7 marks to a pound as a condition of entering the European Exchange Rate Mechanism (ERM).

    Many speculators, George Soros chief among them, wondered how long fixed exchange rates could fight market forces, and they began to take up short positions against the pound. Soros borrowed heavily to bet more on a drop in the pound. Britain raised its interest rates to double digits to try to attract investors. The government was hoping to alleviate the selling pressure by creating more buying pressure.

    Paying out interest costs money, however, and the British government realized that it would lose billions trying to artificially prop up the pound. It withdrew from the ERM and the value of the pound plummeted against the mark. Soros made at least $1 billion off this one trade. For the British government's part, the devaluation of the pound actually helped, as it forced the excess interest and inflation out of the economy, making it an ideal environment for businesses.

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    Senior Member tnlawyer's Avatar
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    He's also a Jew who collaborated with the Nazis in WWII in order to save his own ass. I have no respect for the guy at all.

    Didn't he do something that screwed with the Thai baht? I seem to remember him having to divert his planned landing at BKK one time because angry protesters were there waiting for him.

  13. #13
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    Good Rate 555

    Last week in Pattaya, over 39 Bt 555
    Attached Images Attached Images

  14. #14
    K2
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    The AUD suffrening on many counts - upcoming election, interest rate cut but primarily downward pressure on commodity prices.

    AUD/USD has been in a 0.96/1.06 range for the past year and looks to retest the bottom end of that range - should the bottom give way then 0.9350 is major long term support. A break here (perhaps on an unwind of AUD/JPY which is way overbought) then you Aussies may well start sharing the pain of the EUR and GBP. I'd expect 1.02-ish to cap upside vs. USD medium term.

    In respect of AUD/THB - now 30 broken, not much by way of support until 26.60.
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