The Aussie Dollar
 

Go down you little bastard!

Apparently the US dollar is still "over valued" and we will only see the Aussie surge higher over the next few months.

What needs to happen is the US dollar get as over-valued as it once was and more...

Does this mean you'll have to start charging more for design:-)

J/k.

One of my employees is in Australia...
She does great work.. and is taking a pay cut due to the current value of the dollar. Same salary from me.. less $$ for her:-(

Hey Sharky :)

I know how she feels, all of us Aussies are going through the same thing. Have to take the good with the bad though, we had a great run with it at around 50cents for good stretch of time, now its 68cents and it sucks.

Look at the little bastard go!

http://quotes.ino.com/chart/history....=15&a=50&v=d12

:(

Fuck that's a very sharp curve

If only my profit graph looked like that :1orglaugh

I'm gonna monitor the AU dollar over the next month or two. If it starts to level out, i'm gonna convert all my AU dollars into US dollars. And then convert it back when the US dollar recovers. Booyah.

Not a bad idea, ecspecially if it reaches a point that it can not maintain. Like when it was at 48cents, there was no way it would stay there, same as if hit 75+cents it probably can not maintain it for any great length of time.

I dont think we will see it take a nose dive for a while though, our interest rates arent moving, the enconomy is doing alright and US is still trying to recover. Could be a long wait :(

Yeah, they haven't changed for something like 12 months. But when they do, i think it's gonna up the Australian dollar by a few cents very quickly.

I no longer take contract work (except from exisiting clients) for this reason. Not only is the Dollar at 68c, but gaypal convert it at 2c higher than the market crossrate, and at 70c, most of the time its not worth it.

Ive just taken a job locally, you can all expect an annoucement soon :thumbsup

It will be very interesting when it happens. It might finally stop the real estate market from going out of control as well as bringing the dollar back down.

I wouldnt be too surprised if it was till after the next election that we saw movement in the rates.

If the rate goes up there is going to be a lot of very unhappy voters! So many people have gotten into a lot of debt from the real estate boom.

I heard an analist on Sky News yesterday say everyone expects a .25 cut at next months meeting. You wont have to wait long.

I dont think the aussie can break the 70cent mark again. We import waaaay too much for that to happen.

Yep will be a long wait, Australian ecomomy is rocking along, real estate is still booming, slowing down a bit but not much. Whats going to happen and what always happens is it will surge to 75cents in 1-2 years. then the exporters will begin taking a beating as exports will cost to much for them to compete and the ecomomy will slow down, maybe even a mild recession. The dollar drops back down to 60 cents, and then as the ecomomy trys to get started again it may drop down to 55cents. Thats what happens to New Zealand and I predicted it this exact way in New Zealand back in 1998 after it happend a few years eariler in 1991.

Something like that anyways. I just converted all my money into Aussie from NZ when NZ was 88cents, waiting for it to drop to 78 cents (which it will) then convert it back for some big easy cash :) Then wait till it catches back up again and back to Aussie.

I recall analysts saying that it was likely we would have seen a drop at the last meeting as well. We didnt and that has caused the dollar to go higher.

I hope you are right, I dont want to see it break 70 either.

Bring back the banana republic ... bring back keating ... bring back the days when it hovered around 51c ....

Damn ... I might have to move to newzealand if this continues.

Think back to when Keating made that banana republic comment. At the time everyone thought he was crazy but I have a suspicion that he knew exactly what he was doing.

As for the Reserve Bank - I reckon they haven't got a clue - they claimed that this week's decision was made because of the overheated housing market and the huge amount of household debt.

Well if it was it hasn't done anything at all to fix the housing market and even before they met a number of banks actually lowered their housing interest rates. The higher dollar means imports are cheaper so people are going to be out more new cars and expensive stuff from overseas so household debt will go up even further

In the meantime the RB's decision has meant manufacturers are hurting because imports are cheaper and exporting their products becomes more difficult. The primary producers are being screwed as well - everytime the $A goes up by one cent the average farm income drops by $1290.

And then there's the tourism industry - by the time this mess is over there won't be an aweful lot of that left - even Paul Hogan's barbie will have been sold to pay the debts.

:2 cents: - not worth bloody much now

Well said.

If you're $US income had remained constant over the last 12 months the changes in the exchange rate have meant that in real terms you took a 14% drop in income.

thats it.. im putting on a fake beard, getting a van, fertiliser and a map to the exchange.

surely it's much bigger than a 14% drop.

I did some back of the envelope calculations the other day, as of today I'm consistently making more $USD, but because of the rise in the Aussie dollar there isn't much difference once it's converted to $AUD.

$USD1000 / 0.48 = $AUD2083 - late 2001
$USD1000 / 0.68 = $AUD1470 - now

That's a 30% drop. :(

I did mine on the television with a blunt economist :Graucho

You're probably much closer to the mark than I am.

i remember the days when i got AUD$2 for every US$1.. at least buying US stuff is cheap now..

I heard a report on the news the other day that we will see 72 cents by early next year and then it should start dropping again. Lets hope so.

We need it back to 50c ASAP!

but it aint gonna happen for some time yet.. we care gonna be stuck at 70 for the next yr or so

Nurgle

Hehe pity I went on a bunch of overseas holidays last year while the exchange rate was bad! God Damn!

Wade,

you gotta hope our dollar stays strong to keep paying those designers, was it 15 of them or 30??? :)

Hell yeah, Keating was our last great leader.

good times, good times

on the bright side buying traffic and content is 30% cheaper :)

:( summer downturn+doller=:mad:

Dont wish our Dollar down until after Internext
i want a GOOD exchange rate this year :1orglaugh

Todd what are you talking about? The US dollar is weak right now, thats what we're all complaining about, we want a strong US dollar and a weak AU dollar.

We have 15 in-house designers, what are you trying to get at? Drop down sometime and visit our office, it would be my pleasure to introduce you to some real designers.

Wade are you in Sydney?

Aussies --- Welcome to the negative US exchange-rate club. We Canukistanis have been seeing a hit to our incomes for the past 5 months or so.


$1 USD was $1.55 Cdn. (went as high as $1.62 at one point)
$1 USD now = $1.32 Cdn



From $1.55 per USD to $1.32 per USD...... that's a tough hit too.

Hi Kevin, nope we're based in Adelaide. Do you ever come down this way?

Wade I have never been to Adelaid but I hear it's a great place. If I do go down that way I'll let you know and pop in to say hi :)

Sounds good, I try to go to sydney once every year or two, so I'll let you know as well.

Is there anyone here from Adelaide? Not often I meet other adult webmasters from Adelaide, in the last 6yrs I've only met 2.

Wade I'm in Melbourne :) Hey uproared so we are in the same City. I live in the eastern suburbs.

hehe yeh Jo from BB is pretty hot!

I make it to Melbourne more often than I do to Sydney.

Do you know many other Melbourne webmasters?

I know a few of the Brisbane guys.

Shame there isnt some sort of regular yrly aussie webmaster get-together.

Wade I know of 2 other Melbourne webmasters. One in Geelong and the other in Doncaster if I remember correctly. We should arrange an Aussie webmaster get together sometime :)