VoyForums
[ Show ]
Support VoyForums
[ Shrink ]
VoyForums Announcement: Programming and providing support for this service has been a labor of love since 1997. We are one of the few services online who values our users' privacy, and have never sold your information. We have even fought hard to defend your privacy in legal cases; however, we've done it with almost no financial support -- paying out of pocket to continue providing the service. Due to the issues imposed on us by advertisers, we also stopped hosting most ads on the forums many years ago. We hope you appreciate our efforts.

Show your support by donating any amount. (Note: We are still technically a for-profit company, so your contribution is not tax-deductible.) PayPal Acct: Feedback:

Donate to VoyForums (PayPal):

[ Login ] [ Contact Forum Admin ] [ Main index ] [ Post a new message ] [ Search | Check update time | Archives: 1, [2], 3, 4, 5, 6 ]

[ Next Thread | Previous Thread | Next Message | Previous Message ]

Date Posted: 22:29:19 05/18/13 Sat
Author: level not seen since June 2012.Friday17/5/2013 161Low Qantas
Subject: The Australian currency dropped to 97.97 US centsearly hours of Friday morning,

..Skip to search.
New User? RegisterSign InHelpMake Y!7 My Homepage
Close this window For the most captivating daily read, Make Yahoo! your Homepage
MailMy Y!7 Yahoo!7.Yahoo! Finance Search Search Web
........HOMEBUDGETNEWS & OPINION
.Australian DollarTop StoriesStock MarketColumnistsCurrenciesCompaniesSmall BusinessVideo.
INVESTING
.Market StatsCurrenciesOnline TradingEducation.
MY PORTFOLIOS
.Sign in to access your portfolios.
PERSONAL FINANCE
.Money ManagerVideosExpertsTips & ToolsReal EstateInvestingFame & FortuneCompare RatesForumsPhotos.
SMALL BUSINESS
.StartupFinanceManagingGrowingMarketingTechnologyOnlineFranchisingInnovationConnectKBB TV.
VIDEOExpert OpinionCOMPARE RATES
.Home loansCredit cardsSavings depositsTerm depositsPersonal loansCar loansSmartphonesBroadbandMobile broadbandElectricity pricesGas prices.
........Search for share prices .Tip : Use comma (,) to separate multiple quotes. Learn more...
Finance Search ....Sun 19 May 2013 15:26 - Australian Markets closed
......ads not by this site .....YOUR FRIENDS' ACTIVITYprev next .....YOU ON YAHOO! FINANCEYour Activity |Social: OFFON Turn Social ONRemind me when I share|Options What is this?Not you? Log out of FacebookHow to remove this experience.......$A hits 11-month low against strong $US

AAP – Fri, May 17, 2013 7:44 AM AEST
....Email 0Recommend0Tweet0Share0Print.....The Australian dollar has fallen to a fresh 11-month low amid continuing optimism about the US economy and negativity about the Australian economy, before rebounding slightly.

The Australian currency dropped to 97.97 US cents in the early hours of Friday morning, a level not seen since June 2012.

At 0700 AEST on Friday, the local unit was trading at 98.09 US cents, down from 98.37 cents on Thursday.

US economic figures released early on Friday morning, Australian time, showed a sharp jump in weekly jobless claims while the number of housing construction starts fell 16.5 per cent in April.

What goes up...What's wrong with the Aussie dollar?

US stocks fell after these figures were released.

However, LTG Goldrock director Andrew Barnett said the Australian dollar's fall was not due to the economic data but because of a wider continuing trend.

"At the moment, the Aussie dollar is out of favour with the market," he said.

"It's been a double whammy."

Mr Barnett said the Australian dollar had been hit because the local economy over the next two years won't perform at its previous stellar levels and the market also was starting to believe the US economy was experiencing a genuine recovery.

Read: The man who made millions for Soros predicts Aussie dollar's 'sharp fall'

"You put those two things together, it doesn't surprise me the Australian dollar is at 98.00 US cents and it won't surprise me if it is at 93 cents between now and the end of July," he said.

Mr Barnett added that the Australian dollar could briefly move to parity with its US counterpart in the short term, but long term it would push lower.

[ Next Thread | Previous Thread | Next Message | Previous Message ]
[ Contact Forum Admin ]

Forum timezone: GMT-8
VF Version: 3.00b, ConfDB:
Before posting please read our privacy policy.
VoyForums(tm) is a Free Service from Voyager Info-Systems.
Copyright © 1998-2019 Voyager Info-Systems. All Rights Reserved.