Australian Dollar Tipped to Fall below US 60 Cents

http://www.news.com.au/finance/economy/australian-dollar-tip...

The experts are saying that dollar will fall below 60 cents.

This would mean we would be paying a lot more for almost everything from overseas.

Comments

  • Yes we will. Time to find more Aussie deals.

  • Meanwhile, Geriatric Gerry Harvey is probably sitting at a mahogany desk somewhere rubbing his frail hands together with glee.

    • No, he's buying up cattle farms, ie regearing towards Australian exports rather than Australian imports.

      The last fifteen years have been a golden era for consumer goods. People had the cash to pay for them and the tech advances were substantial enough to justify the expense. DVD players, flatscreen tellies, more flatscreen tellies and then blu ray, plus phones and ipads and ipods and all the other junk.

      Smartphones are still going along but people like their current telly enough to keep it. There's no emergent technology on the horizon that is going to generate another buying spree. 3D has turned out to be a flop.

  • petrol prices are expensive as it is :(

    • It's been quite cheap in Melbourne lately. For the past week it's been well below 110.9c/L, but yes it's only a matter of time before it'll get to something ridiculous like 165.9c/L…

  • This combined with trying to introduce GST for overseas online purchases is going to be sadtimes :(

  • The experts are saying that dollar will fall below 60 cents.

    Actually they said: "Deutsche Bank’s Australian chief economist Adam Boyton says continued soft demand for resources and slower growth in China are among the factors that could force the Australian dollar below 60 US cents"

    Nobody knows WTF they're talking about. Last time, as the AUD was going up, they predicted the AUD would go 1.10 USD but then the exact opposite happened.

    • Yes I agree. It is rare to find independent thinking economists. I guess it is easier to explain predictions that the trend will continue. However they are looking in their rear view mirrors, and that is of little help.

    • Must've changed their "Magic 8 Ball"?

      ;)

    • Be fair, how an economy will perform is very hard to predict. Economists try hard to predict with what they have, but more than often, how things will unfold depends on many factors that simply are not predictable and many factors that we know tend to work in many different ways as well.

      For example:
      If their wage increase, will people work more? That'd depend on many things; many models will tell a different story depending on what effects they focus. Human psychology is something that's hard to predict as well, especially when you bring cultural diversity and other things. They try to estimate those by looking at past data and try to extrapolate, but the world is very volatile and yaddi yadda.

  • -1 vote

    This is what happens when you clowns keep buying from Amazon.
    They own the world and so does China.

    Doesn't stop me from buying from them. huehuehue