Sinking AUD$

[The_Ghan]

Bugger me!

As you guys are probably aware, I've spent around $1,500 on trains as the Aussie dollar climbed past US$1.08 in the latter half of July.  I know I got a good deal with the exchange rates, but the trouble is I also reserved a load of stuff with HS and Rainbow.  Just look at what has happened to the AUD$ v US$ over the past week: http://au.finance.yahoo.com/echarts?s=AUDUSD=X#symbol=;range=1m;compare=;indicator=volume;charttype=area;crosshair=on;ohlcvalues=0;logscale=off;source=;.  A couple of hours ago it was trading at US$0.99.4 [prolific swearing]%#!#$^%$ #$^%$@ [/prolific swearing] ... damn the limitations on HTML code ...
...
Likewise, a few hours ago AUD$ was trading at Y77.3 ... [more prolific swearing]%#!#$^%$ #$^%$@ [/more prolific swearing] ... nope, that code doesn't work either! 

Just look at what has happened to the AUD$ v JPY since I reserved my stuff: http://au.finance.yahoo.com/echarts?s=AUDJPY%3DX#symbol=;range=1m;compare=;indicator=volume;charttype=area;crosshair=on;ohlcvalues=0;logscale=off;source=; ... down 8.5% for the month.  All that stuff I have reserved is going to cost me around $150 more than I budgeted for!

Are any other Aussies being screwed by the exchange rates like me? keitaro?

Cheers

The_Ghan

[keitaro]

yeah i would have appreciated that extra 4 cents to the yen in 3 weeks when hs ask me to cough up $500

[westfalen]

I just heard the news on the radio in the car as I was out driving around. I've got a heap of stuff reserved with HS that should have been here by now that has been delayed, then there's my trip to Japan in November.

[meldrew]

Hi, I think the dollar has gone back up to about $1.01 U.S. this afternoon.  However it's disappointing to see it get lower again.  I bet some of the thieving retail stores in Australia are pleased.   

Cheers

Ashley

[Mudkip Orange]

Yeah, these exchange rates are brutal.

[The_Ghan]

It seems to have levelled off at around $1.033, but it could move a cent or more either way over night.

Cheers

The_Ghan

[keitaro]

back to 79 jpy i liked 82 - 83 much better 

[The_Ghan]

Ha!  Go back about 15 months and the yen was over 100.

Cheers

The_Ghan

[keitaro]

in 2005 i was in jpn and it was 98 cents avg makes a big difference when you chew through 5000 in spending $$$

[The_Ghan]

Keitaro,

When I lived in Japan in 1984 I used to get around Y220 for AUD$1.  I was into British rail back then and didn't think to buy a single thing.  A Japanese school friend had a Z gauge layout in a suitcase.  Strangely I remember the case and the layout but just can't visualise what model he was running on it ... I might have Alzheimer's but at least I don't have Alzheimer's !!!

Cheers

The_Ghan

[linkey]

The highest the AUD got to the JPY was $1.05 and that was two to three years ago where some members were buying big at Japanese Model Railway Stores. If the Aussie Dollar can get back to the mid 80's to low 90's I will be happy. But if it goes beyond parity I am going to crazy! Dear Debit card, I'm sorry but you are going to be heartbroken :P

[keitaro]

lol the thing is the japanese really want there yen to go down as there being killed in competition due to the rates.

I thought the tsunami would have lowered it but.... seems like a big power is behind keeping this up.......

[The_Ghan]

The highest the AUD got to the JPY was $1.05 and that was two to three years ago where some members were buying big at Japanese Model Railway Stores. If the Aussie Dollar can get back to the mid 80's to low 90's I will be happy. But if it goes beyond parity I am going to crazy! Dear Debit card, I'm sorry but you are going to be heartbroken :P

This is true for recent times but in the mid 80's the AUD was much much higher - always over 200.  I'm kicking myself for not bein into Japanese model trains back then.

Cheers

The_Ghan

[keitaro]

sinking again 

[bill937ca]

Probably just the Yen getting stronger and stronger.   

[The_Ghan]

Nope,

It is the AUD$ going down against all the majors in response to Italy being downgraded and the anticipation that Greece will default ... yet again.  Beats me how Euro problems can affect the AUD yet the Swiss Franc is surrounded by Euro countries but manages to hold its own!!!

Either way, I'd prefer not to think about it thanks Keitaro !!!

Cheers

The_Ghan

[Martijn Meerts]

The Swiss are just more stubborn than the Aussies ;)

[disturbman]

Seeing the huge amount of debt Japan is sitting on and its more than recovering economy since the 90s bubble, I don't quite understand why the Yen is not following the Euro and the Dollars in their descent.

Also, have very mixed feeling about this debt affair in the Euro-zone. The whole Euro economy (and debt) is not worse than some other major economies around the world and I have the impression the notation agency are just making things worse by degrading debt notes. Anyway, the whole idea of cutting public spending now seems way off. It just tackle the economy at its weakest and makes the recession worse. Also what was the point of putting so much amount of money before if it's to kill the positive effects now?

[bill937ca]

Beats me how Euro problems can affect the AUD yet the Swiss Franc is surrounded by Euro countries but manages to hold its own!!!

Switzerland holds at least 40% of its foreign currency reserves in gold--by law.

http://www.theglobeandmail.com/report-on-business/economy/currencies/the-soaring-swiss-franc-the-next-best-thing-to-gold/article2109299/

I believe Japan also has gold in its foreign currency reserves.

[bill937ca]

Seeing the huge amount of debt Japan is sitting on and its more than recovering economy since the 90s bubble, I don't quite understand why the Yen is not following the Euro and the Dollars in their descent.

Of Japan`s debt, 95% is held internally. Euro debt is external.  Japan continues to have more assets than debt, including a fair bit of gold in foreign currency reserves.

[keitaro]

Seeing the huge amount of debt Japan is sitting on and its more than recovering economy since the 90s bubble, I don't quite understand why the Yen is not following the Euro and the Dollars in their descent.

Numerous reasons one large concern though that japan don't mention for obvious reasons is their large neighbour that competes in the same market of manufacturing and is great at manipulating currency for thei benefit and getting away with it. I'll let you have a guess who that is.

[The_Ghan]

Beats me how Euro problems can affect the AUD yet the Swiss Franc is surrounded by Euro countries but manages to hold its own!!!

Switzerland holds at least 40% of its foreign currency reserves in gold--by law.

http://www.theglobeandmail.com/report-on-business/economy/currencies/the-soaring-swiss-franc-the-next-best-thing-to-gold/article2109299/

I believe Japan also has gold in its foreign currency reserves.

Australia holds at least 40% of its foreign currency reserves in beer! ... I think that's a law too ... well, a rule at least!

Cheers

The_Ghan

[linkey]

Beats me how Euro problems can affect the AUD yet the Swiss Franc is surrounded by Euro countries but manages to hold its own!!!

Switzerland holds at least 40% of its foreign currency reserves in gold--by law.

http://www.theglobeandmail.com/report-on-business/economy/currencies/the-soaring-swiss-franc-the-next-best-thing-to-gold/article2109299/

I believe Japan also has gold in its foreign currency reserves.

Australia holds at least 40% of its foreign currency reserves in beer! ... I think that's a law too ... well, a rule at least!

Cheers

The_Ghan

Not anymore with Fosters Limited being brought out by AB Miller. Can't believe the Aussie Icon beer has now been brought by an overseas company and again the $AUD has dropped just over $1USD

[westfalen]

While I was in town on a long lunch break yesterday I picked up 20,000 yen to give me some ready cash when I arrive in Japan, it cost me AU$275.

[stevenh]

I wonder if pulling off a Visa credit card from a postal-bank-atm in Japan would've provided a better deal... I've always been interested in the exact cost differences.

[bikkuri bahn]

Can't believe the Aussie Icon beer has now been brought by an overseas company

All the big US brewers are owned by foreign corporations- so they can't wrap themselves anymore in the flag and pooh-pooh foreign brews as snobby and effete. Mass market US beers are cr*p anyway.   Thank God for the smaller craft brewers.

[Shashinka]

back to 79 jpy i liked 82 - 83 much better 

I liked ¥116 : $1 USD myself.

[The_Ghan]

Beats me how Euro problems can affect the AUD yet the Swiss Franc is surrounded by Euro countries but manages to hold its own!!!

Switzerland holds at least 40% of its foreign currency reserves in gold--by law.

http://www.theglobeandmail.com/report-on-business/economy/currencies/the-soaring-swiss-franc-the-next-best-thing-to-gold/article2109299/

I believe Japan also has gold in its foreign currency reserves.

Australia holds at least 40% of its foreign currency reserves in beer! ... I think that's a law too ... well, a rule at least!

Cheers

The_Ghan

Not anymore with Fosters Limited being brought out by AB Miller. Can't believe the Aussie Icon beer has now been brought by an overseas company and again the $AUD has dropped just over $1USD

That's right linkey.  Less Aussie beer can't be good for the currency!

Cheers

The_Ghan

[marknewton]

Not anymore with Fosters Limited being brought out by AB Miller. Can't believe the Aussie Icon beer has now been brought by an overseas company

Fosters might be an "icon", but it hasn't been worth drinking for a long, long time.  

I can remember the days when Fosters, VB etc. were only available in Victoria, they were both good brews then.

Cheers,

Mark.

[marknewton]

All the big US brewers are owned by foreign corporations- so they can't wrap themselves anymore in the flag and pooh-pooh foreign brews as snobby and effete. Mass market US beers are cr*p anyway.   Thank God for the smaller craft brewers.

You're not wrong, BB. As the old joke goes, mass market US beers are like having sex in a canoe - f*cking close to water. As you say, the best beers in the US are those made by craft/boutique/micro breweries. One of the best ales I ever had was in Dubuque, from the Dubuque Star Brewery. Great building, too!

Cheers,

Mark.

[The_Ghan]

ROFL.

Mark,

Take a look at Steel River Brewery.  Their "Platt's Folly" is a great malt beer.  I'm on a combination dosage of that and Coopers.  I'm drinking Aussie beer only, which means Cascade (owned by Fosters) is now off the list.  Boags sold out to Lion Nathan years ago, so they're off the list too.

Cheers

The_Ghan

[linkey]

Not anymore with Fosters Limited being brought out by AB Miller. Can't believe the Aussie Icon beer has now been brought by an overseas company

Fosters might be an "icon", but it hasn't been worth drinking for a long, long time.  

I can remember the days when Fosters, VB etc. were only available in Victoria, they were both good brews then.

Cheers,

Mark.

That's the reason why I jumped off drinking Aussie beer and gone straight to the Japan's Beer (Kirin, Asahi and Sapporo) as I love drinking them and then I also have tried a few different O-sake. Mmmmmm need to go to Fuji-Mart in Prahran to buy some more, that means got to make a trip to the store on Friday.

[Fenway Park]

Hi,

We can purchase Kirin Asahi and Sapporo beers in the UK, but Kirin is brewed under licence by Wells and Youngs in Bedford and Asahi by Shepherd Neame iin Faversham.  The cans of Sapporo said IMPORTED so I assumed they were the genuine article but NO. Yes they were imported but were brewed in Canada under licence!!!!

The only genuine beer is the Asahi Black lager which is imported from Japan.  Asahi beers were brewed in the Czech Republic for the UK until Shepherd Neame took over. The two companies are adept at brewing foreign beers under licence including Cobra and Kingfisher Indian beers.

The £ Yen rate has fallen again and it is now below 120 yen to the £.

[westfalen]

I wonder if pulling off a Visa credit card from a postal-bank-atm in Japan would've provided a better deal... I've always been interested in the exact cost differences.

I'll be doing that for the rest of my money while I'm there, I just like to have some cash in my pocket when I land in case I need it.

[Shashinka]

Yeah my FOREX accounts are taking a beating. Have been all year. Time to get out of it and reinvest in something else other than currencies.

[keitaro]

74 yen :(

[The_Ghan]

I've stopped shopping until the exchange rate improves.  Even when the AUD$ was low against the US$ we were getting around 80 Yen.

Cheers

The_Ghan

[keitaro]

i got really excited today .....




then i realised it was a f*** up

i would have bought half of hs

[The_Ghan]

78.5Y now keitaro.  That black hole known as the European Debt Crisis is going to swallow up the whole continent.  Only Switzerland, France and Germany will remain, like volcanic plugs in a barren wasteland.  As this debarcle unravels in slow motion the yen will soar.

Cheers

The_Ghan

[keitaro]

stupid europe j/k

but yeah 700+ yen for 1 dollar lol i woulda gone spending spree hahahaha

[linkey]

And here I am spending money for good use for international running eg. Omocha Express and the JNS Forums donation. lol... Of course no matter what the exchange rate is I was going to put money into these areas anyway. Now hoping that Italy can get back on it dull feet and start kicking their butt into action to boost the euro and help get this 2nd wave of GFC away from the red and into a strong black (Stock Market talk).

[Martijn Meerts]

Ghan, the Netherlands might remain as well, although we currently seem to be in a "give all our money to bankrupt countries" mood :)

Of course, with all the storms these days, half of the Netherlands might soon be underwater 

[The_Ghan]

Sorry Martijn,

I WAS thinking of Netherlands (one of my favourite destinations) when I wrote that post, I simply forgot to include them in the list.

Cheers

The_Ghan

[Mudkip Orange]

Ghan, the Netherlands might remain as well, although we currently seem to be in a "give all our money to bankrupt countries" mood :)

Hey, if y'all hadn't all gotten on this Euro-currency thing, Italy could've done some "quantitative easing" on the Lira, Spain could print some Pesetas, Greece could spew forth Drachmas with a devluation in perhaps the 33-50% range, everyone could be chill.

But nooooo, everyone had to go and get denominated in one currency.

[Martijn Meerts]

Yeah.. And now a lot of countries want to go back to their old currencies, or leave the EU all together ..

The Euro did one thing, make everything more expensive =)

[Mudkip Orange]

If Germany and France and y'all set a target inflation rate for the core countries of 4-6%, and then the ECB simultaneously provided loans at low interest rates instead of the absurd speculative rates that Italy and Spain are now dealing with, y'all might right yourselves.

But ze Germans seem committed to austerity and zero percent inflation uber alles, the ECB doesn't want to be a lender of last resort, and while Italy and Spain were running budget surpluses on the eve of the crisis, they're now being treated just like the Greeks. Y'all got better trains but your government finance gurus are even crazier than ours.

[disturbman]

The Euro did one thing, make everything more expensive =)

Come on, that's not true. The Euro is just the perfect scapegoat for that.

That said, I don't see the point in engaging in counter political discussion here.

[Martijn Meerts]

Well, in the Netherlands, everything got more expensive when the Euro was introduced.. Everything that cost for example 1 guilder turned into 1 euro, but 1 euro was worth 2.2 guilders at the time. Of course, wages did get cut in half, so whoever earned 2500 guilders went down to some 1200 Euro give or take.

When they introduced the Euro, I lived in Norway, and it was actually quite noticeable because I had much more to spend before the Euro than after the Euro..

Anyway, what's done is done, and it is quite nice being able to go abroad and not having to worry about foreign currency.

[keitaro]

anyway it was a short lived exchange rate of 10 minutes in my comsec account.

i could have bought 7 300 series shinkansens for the price of one lol.

[The_Ghan]

Yeah.. And now a lot of countries want to go back to their old currencies, or leave the EU all together ..

The Euro did one thing, make everything more expensive =)

Yes, it's a nice time to live in Switzerland.

Cheers

The_Ghan