Australia $ Value, Economic Direction?

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#41
Canberra Australia
43,242 Posts
Joined Apr 2012
Unemployment rates are not as simple as 5% not working. It is a bit more complicated one aspect is that they are looking for work and only then it is considered, if they are a couple that both are not in work. For instance, if you are working and your wife isn't but wants to, then she is not considered out of work.
There are a few more anomolies as well.
#42
Columbus, Ohio
19,464 Posts
Joined Mar 2006
From The Age in Melbourne tomorrow morning, they have this headline: "Aussie dollar slumps below parity" with these highlights: "The Australian dollar briefly fell below parity with the US dollar early Saturday, ending a nine month run where the local unit has traded above its US counterpart. The Australian dollar fell to a low of 99.61 US cents during the New York session, before a late gain pushed the dollar back above parity to close the session at 100.25 US cents. The dip below parity caps off a wild week for the Australian dollar, which started trading Monday at 103.15 US cents. While the dollar last broke parity in June, the Australian dollar has mostly traded above 100 US cents since early 2011, which has put the squeeze on export-oriented industries. The latest moves are largely driven by renewed strength in the US dollar amid signs of confidence over the strength in the world’s largest economy. Currency strategists, meanwhile, expect the Australian dollar to remain under pressure as the mining boom peaks, the Chinese economy maintains its weak outlook and the US economy recovers."

Full story at:
http://www.theage.com.au/business/ma...511-2jeaw.html

THANKS! Enjoy! Terry in Ohio


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#43
Canberra, Australia
393 Posts
Joined Jan 2013
Originally posted by MicCanberra
Unemployment rates are not as simple as 5% not working. It is a bit more complicated one aspect is that they are looking for work and only then it is considered, if they are a couple that both are not in work. For instance, if you are working and your wife isn't but wants to, then she is not considered out of work.
There are a few more anomolies as well.
Hi Mike

I am fairly sure that the scenario you are talking about (husband working, wife not working but wants to) works differently depending on whether you are looking at Centrelink benefits or the ABS unemployment statistics.

Wife would not be eligible for Centrelink unemployment benefit, but would be included in the monthly unemployment rate as long as she answered the questions that indicated she was actively looking for work.
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#44
80 Posts
Joined Dec 2011
How is all this related to cruising other than impact on prices of cruises purchased in the US.
So if the A$ is going down (and I think it is) You should pay up asap if you have a booking priced in US$.
#45
Orewa , Auckland , N.Z.
19,498 Posts
Joined Jun 2001
With the dollar being high, and if you were planning to cruise overseas , say next year , is there anywhere you can buy your funds and put them on deposit till needed, without losing heaps in fees, and perhaps being paid a little bit of interest?






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#46
80 Posts
Joined Dec 2011
Originally posted by Kiwi Kruzer
With the dollar being high, and if you were planning to cruise overseas , say next year , is there anywhere you can buy your funds and put them on deposit till needed, without losing heaps in fees, and perhaps being paid a little bit of interest?

yes, you can buy a "Cash Passport" card. Nominate whatever currency you want and the money is basically "parked" in that currency. But sorry, no interest earned. But no ongoing fees either, you only pay when you withdraw. Banks sell them, t/a sell them. It's a modern version of Travellers Cheques.
#47
Canberra Australia
43,242 Posts
Joined Apr 2012
Originally posted by antipodean99
yes, you can buy a "Cash Passport" card. Nominate whatever currency you want and the money is basically "parked" in that currency. But sorry, no interest earned. But no ongoing fees either, you only pay when you withdraw. Banks sell them, t/a sell them. It's a modern version of Travellers Cheques.
Aren't they are really only good for a year though.
#48
Canberra Australia
2,917 Posts
Joined Jul 2009
Each card has a few years life on it.
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#50
Columbus, Ohio
19,464 Posts
Joined Mar 2006
From Wall Street Journal last night, they have this headline: "Currency Investors Turn to Unlikely Pair" with these highlights: "Investors bracing for slower growth in China are turning to a formerly little-used currency trade: selling Australian dollars and buying Mexican pesos. The bet is that Australia's economy, and its currency, will suffer as Chinese demand cools for raw materials like iron and coal. Mexico, with closer ties to the resurgent U.S. economy, is seen as more insulated if commodities prices fall. With interest rates near zero in most developed countries, heavily traded currencies like the dollar, euro and yen offer little or no returns. Investors are getting more creative about what they buy and sell. In the case of the Aussie and peso, that means embracing the extra risk that comes from trading two traditionally volatile currencies against each other. Investors said Australia and Mexico act as proxies for the diverging fortunes of their two biggest markets, China and the U.S. As China begins to pivot toward an economy that is driven more by domestic demand and less by exports and infrastructure spending, its appetite for raw materials is expected to slacken, denting the prospects for Australia's mining-heavy economy." Right now the Wall St. Jour. has cost of an Aussie dollar down to $0.9880.

Here are some added insights into the economy for Australia from this WSJ analysis: "IFor most of the past decade, Australia's reliance on China was viewed by investors as a reason to buy the country's currency. Australia's trade with China exploded over the past decade, with exports rising from $8.8 billion in 2001 to $77 billion in 2011. Natural resources such as iron ore and coal account for more than 80% of the country's sales to China. Booming resource exports helped Australia avoid a recession in 2008, and its central bank kept interest rates relatively high as other developed countries cut rates to near zero. But mining exports have slowed in the past year, and the strong currency has hurt tourism and other industries. On May 7, the Reserve Bank of Australia cut interest rates to a record-low 2.75% and warned that the Aussie's high value was limiting growth. The net bet on a stronger Australian dollar has plunged about 90% in the past month, according to the Commodity Futures Trading Commission."

From the Financial Review in Australia during the past hour, they have this headline: "Dollar dip boost for tourism groups" with these highlights: "The tourism industry is breathing a sigh of relief as the dollar dips below parity with the US dollar, but it needs to fall further to change the spending patterns of overseas visitors, they say. Visitors spend less and stay for shorter periods when the dollar is high. Tourism Australia managing director Andrew McEvoy said a 'slight fall' in the Australian dollar would be *welcome news to many international visitors. 'However, a few cents drop in the exchange rate doesn’t change the broader picture. The Australian dollar is still strong, this is not new and is something our industry is adapting to,' Mr McEvoy said. Tourism and Transport Forum’s Rowan Barker said spending was 'below what you would hope' due in part to the higher dollar. 'It has massively impacted on the buying power of particularly European and US travellers . . . they are opting for different accommodation options, they are opting for different attractions and entertainment options,' he said. Mr Barker said the dollar had been steady against the Chinese yuan, and Chinese visitors were propping up the entire tourism industry, with the fastest growth and highest spend per head. Australian Industry group chief executive Innes Willox welcomed the dollar’s move below parity. 'Even slight movements downwards in the dollar are welcome because they affect investment decisions, they affect buying decisions and they affect immediate business conditions,' Mr Willox said. He said the two years of the dollar at above parity has forced painful adjustments and job losses. 'Australian industry generally is competitive at about US88˘,' he said."

From those who live and work in Australia, do certain of these points and details seem on track and true? Other factors to consider as we plan for our Jan. 20, 2014, Solstice sailing from Sydney to Auckland?

Full stories at:
http://online.wsj.com/article/SB1000...LEFTTopStories
http://www.afr.com/p/national/dollar...fNP5mS8Yo7KCsL

THANKS! Enjoy! Terry in Ohio


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http://boards.cruisecritic.com/showthread.php?t=1803477
#52
Australia
732 Posts
Joined Aug 2012
Originally posted by MicCanberra
Good news for some, not so good for others.
I'm one of the 'others' - travelling next year & was hoping the AUD$$ would stay put
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#53
Canberra Australia
43,242 Posts
Joined Apr 2012
Originally posted by Xcitdcruiser
I'm one of the 'others' - travelling next year & was hoping the AUD$$ would stay put
Likewise, but it will not stop me travelling.
#54
Melbourne/AUS
736 Posts
Joined Apr 2012
I'm hoping it stays put long enough for our cruise final payment in July. We booked in US$ so wont be happy if it drops too much! Still, we got 123 go out of using a US TA so I won't complain too much
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#55
Canberra Australia
43,242 Posts
Joined Apr 2012
Originally posted by Jacs
I'm hoping it stays put long enough for our cruise final payment in July. We booked in US$ so wont be happy if it drops too much! Still, we got 123 go out of using a US TA so I won't complain too much
Yes, I have two with final payments in July, may need to pay them off earlier.
#57
Central Coast NSW
5,060 Posts
Joined Jun 2007
Commonwealth Bank has a travel card that lets you park a number of different currencies..no fees either.

I only have one upcoming cruise booked in USD. Generally its a good idea to buy some every time our dollar is up which gives you an hedge against it falling

Sue
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#58
Canberra Australia
43,242 Posts
Joined Apr 2012
Originally posted by rugbypopsie
Generally its a good idea to buy some every time our dollar is up which gives you an hedge against it falling

Sue
The trouble is knowing when that it is up and will not go any higher or when it is about to go down.
#59
Orewa , Auckland , N.Z.
19,498 Posts
Joined Jun 2001
Originally posted by MicCanberra
The trouble is knowing when that it is up and will not go any higher or when it is about to go down.


That is so true. We got caught out once... (thank goodness it was not a make or break amount)
The currency was rising so we we bought funds for a cruise later in the year. The currency kept rising to a point where we just had to buy again. Fortunately the earlier purchased funds were able to be kept aside till the rate dropped the following year and we cashed them out again for a small profit, but that was really offset by the amount of time we had to hang on.


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#60
Central Coast NSW
5,060 Posts
Joined Jun 2007
Actually you didn't get caught really..you bought at a certain price and then the price went up again...and you bought again. If the dollar was then to go down you had a good hedge. If it keeps going up then you keep tucking more away.

Everthing thing that goes up goes down eventually. Those travel cards are a good idea go chat to your bank about them.

I have a fairly big trip organised for next year and have to pay in USD its comforting to know that even if the dollar goes right down I have enough money stashed from when the dollar was at parity or better.

Sue
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Way back, Fiji (Blue Lagoon), Queensland coast (NCL), (Fairstar), Islands, NZ, Tonga, Solomons.

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2004 Pacific Princess (Fiji, Vanuatu,New Caledonia)
2006 Star Princess (Darwin to Bangkok)
2008 Diamond Princess (Sydney to Auckland)
2009 Dawn Princess(Cherry Blossom, Asia, Japan, PNG,)
2009 Diamond Princess Bangkok to Sydney
2010 Diamond Princess Singapore to Sydney
2011 Volendam Sth Pacific
2011 Radiance of the Seas Long Dinner Party
2012 Dawn Princess Mel/Syd
2012 Dawn Princess Syd/Brisbane
2012 Aegean Odyysey Instanbul to Venice
2012 Radiance of the Seas
2013 Ocean Princess Honolulu/Tahiti/Tonga
2013 Celebrity Solstice New Zealand
2014 Voyager of the Seas
2014 Azamara Journey India to Athens via Suez Canal
2014 Celebrity Solstice Hawaii/Tahitii/NZ
2015 Celebrity Milennium Singapore/Thailand/Malaysia
2015 Caribbean Princess Norway
2015 Caribbean Princess trans Atlantic
2016 Pacific Eden Sydney to Melbourne
2016 Dawn Princess Brisbane Sydney
2016 Celebrity Infinity Full transit Panama Canal
2016 Royal Caribbean Explorer Christmas New Year South Pacific
2017 Celebrity Solstice Queensland Coastal
2017 Star Princess Alaska Connissuer
2017 Emerald Princess California wine cruise
2018 Explorer of the Seas New Calendonia