yeah, we've been buttfucked.

1.00 AUD = 0.660169 USD

3 months ago we were at 0.97

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This is also an indication that the world thinks the US is going to ride the financial storm much better than canada, euro countries, japan, the UK, and all the other countries in which the currency is depreciating against the dollar. Funny enough that the world was blaming the US a week ago, and now the world is moving to the dollar for security. ironic.

quote:

Originally posted by jerZ07002 This is also an indication that the world thinks the US is going to ride the financial storm much better than canada, euro countries, japan, the UK, and all the other countries in which the currency is depreciating against the dollar. Funny enough that the world was blaming the US a week ago, and now the world is moving to the dollar for security. ironic.

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how does one trade in currency?

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quote:

Originally posted by pkcRAISTLIN how does one trade in currency?

On the foreign exchange...FOREX market...

www.forex.com

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quote:

Originally posted by Krypton

Is that laughing because you don't agree? If so, why else would people be seeking the dollar now even though the government just passed about a trillion in new debt?

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Originally posted by pkcRAISTLIN how does one trade in currency?

If you can time it right you can make a shit-ton of money doing it. Although, as we see, it's obviously extremely volatile. You can leverage a currency trade up to 200 times your deposits. Even a small increase in the purchased currency has the potential to make you a killing. Obviously, the downside risk is just as great as the upside.

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Originally posted by jerZ07002 Is that laughing because you don't agree? If so, why else would people be seeking the dollar now even though the government just passed about a trillion in new debt?

I'm laughing at the irony. We're blamed for the economic calamity, but now, they are flocking to our currency.

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quote:

Originally posted by Krypton I'm laughing at the irony. We're blamed for the economic calamity, but now, they are flocking to our currency.

my bad - i couldn't associate the laugh with a specific comment. nevertheless, i share your sentiment. apparently all that talk about the end of the american empire was a bit too premature, at least the world must think so now.

quote:

Originally posted by jerZ07002 This is also an indication that the world thinks the US is going to ride the financial storm much better than canada, euro countries, japan, the UK, and all the other countries in which the currency is depreciating against the dollar. Funny enough that the world was blaming the US a week ago, and now the world is moving to the dollar for security. ironic.

That's not entirely accurate. Countries like Canada and Australia havent seen an exodus from their dollars because people see them as more risky than the US dollar. It comes down to plummeting resource prices - those pesky speculators have left the market!. People (i.e. China) are literally buying less of our shit (in value terms, not yet in volume terms). That's the main reason for drop in currency.

Oh, and Australia has dropped its cash rate by 1.25% in the past 2 months and are now at 6%. That's been a bigger drop then in the US - simple.

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A witty saying proves nothing.
-Voltaire

quote:

Originally posted by Dupz That's not entirely accurate. Countries like Canada and Australia havent seen an exodus from their dollars because people see them as more risky than the US dollar. It comes down to plummeting resource prices - those pesky speculators have left the market!. People (i.e. China) are literally buying less of our shit (in value terms, not yet in volume terms). That's the main reason for drop in currency. Oh, and Australia has dropped its cash rate by 1.25% in the past 2 months and are now at 6%. That's been a bigger drop then in the US - simple.

i didn't exactly say that their currencies were riskier. However, please tell me how plummeting resource prices is not a huge risk to the canadian and australian economies! Although you are correct that real cross border flows have a much greatest effect on currency valuations.