Is The Australian Dollar The World'S Newest Safe Haven Currency.

[OZEMADE]

As a result of Australia's high interest rates, economic strength and proximity to booming Asia, the Aussie has recently been trading at new highs - but will it be able to maintain those levels?

Now getting up to Baht 33.00 for the OZ $. Cash in while the goings good.

To get the extra Baht have your OZ CASH TT (Telegraphic Transferred) to your bank here.

http://au.yahoo.com/s/373607

[Naam]

Furthermore, P.M. Gillard said that, "Add the relative woes of European economies - touching even traditional currency strongholds like Switzerland - and for the first time in history Australia is being referred to as something of a global 'safe haven'."

Her conclusion about the Aussie's future prospects was essentially the same as many market analysts, which was that, "What is certain from all this is our dollar is likely to remain relatively high for years to come."

except when, as in 2008, global woes dominate and the Aussie Dollar falls more than 50% in just 2½ months (e.g. against Thai Baht).

[OZEMADE]

Furthermore, P.M. Gillard said that, "Add the relative woes of European economies - touching even traditional currency strongholds like Switzerland - and for the first time in history Australia is being referred to as something of a global 'safe haven'."

Her conclusion about the Aussie's future prospects was essentially the same as many market analysts, which was that, "What is certain from all this is our dollar is likely to remain relatively high for years to come."

except when, as in 2008, global woes dominate and the Aussie Dollar falls more than 50% in just 2½ months (e.g. against Thai Baht).

As I said cash in while the goings good.

[invogue]

Do you think it will remain stable for the next 1-2 months?

[BEENTHEREDONETHAT]

For what it's worth forecast.org thinks it's going up.

USD Per Australian Dollar Currency Exchange Forecast

US Dollars to One Australian Dollar. Average of Month.

Month Date Forecast

Value 50%

Correct +/- 80%

Correct +/- 0 Jan 2012 1.0415 0.000 0.000 1 Feb 2012 1.069 0.011 0.025 2 Mar 2012 1.093 0.014 0.032 3 Apr 2012 1.068 0.017 0.037 4 May 2012 1.100 0.018 0.041 5 Jun 2012 1.128 0.020 0.045 6 Jul 2012 1.136 0.021 0.048

Updated Thursday, February 09, 2012

All forecasts are provided AS IS, and FFC disclaims any and all warranties, whether express or implied, including (without limitation) any implied warranties of merchantability or fitness for a particular purpose.

[rakman]

If the US Fed does QE3, then the Oz $ will go up, as will many currencies and commodities. In the long term, inflation will rise world wide and a slow down in economies will begin.

Then it maybe another race to the bottom.

Australia is blessed with lots of coal that the Chinese are buying, giving a long term income boost.

[backsoon]

Lessons to learn: If you are rich - buy gold. If you are going full steam ahead - buy coal. Whatever you buy - pay in AUD. Australia is a new 'safe heaven' and Gillard holds the keys.

Oops, I decided to report myself.

Edited February 19, 2012 by backsoon

[Jayman]

http://www.forexlive.com/blog/2012/02/19/audusd-option-books-show-top-side-risk/?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+forexlive-rss+%28Forex+News+by+ForexLive.com%29

http://www.fxstreet.com/fundamental/market-view/daily-forex-analysis/2012/02/19/

both showing good upside potential on the AUD at least in the short term

[Wallaby]

The reports I read about are that the AUS$ will continue to rise against the greenback with what is going on in the EU. Greece, Spain etc has issues then our dollar falls against the US$ because big investors move the money into the US as it is 'safer'. Whenever there is confidence in the EU countries getting their act together then our dollar rises against the greenback.

I'm don't know much about it but that's just the way it seems and is being reported here.

If China ever decides to move on then it is back to the Pacific Peso for us as it will be for 3/5ths of f**** all.

I'd stay with the aus dollar for about another year, may even get stronger and stronger when Gillard is dumped.

[bendix]

Or the Kiwi. Most of my cash savings are in NZ earning a very nice 7.3% with only 2% deducted for withholding tax.

Having watched the Kiwi climb against most world currencies (but less so the baht because of the latter's strength) I'm getting a bit twitchy and wonder if it's coming up to the time to bail.

[phupaman]

Hi All.

Is it possible for a Brit ex-pat living in thailand to invest in fixed deposits in Australia or N-Z

I see there are intrest rates of 5-6%,Is it possible?.

phupaman

[Naam]

Hi All.

Is it possible for a Brit ex-pat living in thailand to invest in fixed deposits in Australia or N-Z

I see there are intrest rates of 5-6%,Is it possible?.

phupaman

you don't have to live in Oz or NZ to invest in AUD or NZD. any reasonable bank lets you invest in these currencies free of tax.

having said so, to find a reasonable bank don't search in Thailand but focus on Hong Kong or Singapore.

[Wallaby]

Hi All.

Is it possible for a Brit ex-pat living in thailand to invest in fixed deposits in Australia or N-Z

I see there are intrest rates of 5-6%,Is it possible?.

phupaman

you don't have to live in Oz or NZ to invest in AUD or NZD. any reasonable bank lets you invest in these currencies free of tax.

having said so, to find a reasonable bank don't search in Thailand but focus on Hong Kong or Singapore.

Hi Naam

I'm in oz. If I wanted to invest say $20k in US$ (as I don't think the oz dollar can sustain a high rate against the us$) do you suggest it best to just buy the US$ on Forex? Or should I just buy the US$ through a bank?

I was thinking it may be possible to use the Forex trading to just buy US$ whilst the oz dollar is high then sell them when the ass falls out of it. Though I've never traded on Forex and have no idea if that is the best way to do it.

Much obliged.

[Naam]

Hi Naam

I'm in oz. If I wanted to invest say $20k in US$ (as I don't think the oz dollar can sustain a high rate against the us$) do you suggest it best to just buy the US$ on Forex? Or should I just buy the US$ through a bank?

I was thinking it may be possible to use the Forex trading to just buy US$ whilst the oz dollar is high then sell them when the ass falls out of it. Though I've never traded on Forex and have no idea if that is the best way to do it.

Much obliged.

if you are with an average bank you can buy, hold and sell USD any time you please and that IS trading Forex (foreign exchange). i'm not sure what you mean by trading "on Forex".

any additional questions assuming my answer is not clear, please don't hesitate to ask.

[damo]

I am of a strong opinion that it will be short lived, or at least needs to be. Long standing well established export industries here in Oz are foldind at a frightening rate. Its nice that the mining sector is booming but Australians are fast becoming very poor people in a very wealthy country. Julia Gillard could not run a bath let alone a country. The reserve sat on thier hands last month. Local property markets are floundering, things are looking poor. My wife and I have decided that we'd be better off back in Los and are moving back next year. I have a home here which I'll sit on. If I had a lot of surplus equity the the minig sector I personally think would be a good place to park some cash.

Edited February 21, 2012 by damo

[necronx99]

Hi All.

Is it possible for a Brit ex-pat living in thailand to invest in fixed deposits in Australia or N-Z

I see there are intrest rates of 5-6%,Is it possible?.

phupaman

Yes, apparently you can. Term deposits also. They will withhold tax however (10%).

http://www.commbank.com.au/personal/international/moving-to-australia/faqs.aspx

[Naam]

Hi All.

Is it possible for a Brit ex-pat living in thailand to invest in fixed deposits in Australia or N-Z

I see there are intrest rates of 5-6%,Is it possible?.

phupaman

Yes, apparently you can. Term deposits also. They will withhold tax however (10%).

http://www.commbank....ralia/faqs.aspx

why would anyone pay tax when he can avoid it?

[Wallaby]

Hi Naam

I'm in oz. If I wanted to invest say $20k in US$ (as I don't think the oz dollar can sustain a high rate against the us$) do you suggest it best to just buy the US$ on Forex? Or should I just buy the US$ through a bank?

I was thinking it may be possible to use the Forex trading to just buy US$ whilst the oz dollar is high then sell them when the ass falls out of it. Though I've never traded on Forex and have no idea if that is the best way to do it.

Much obliged.

if you are with an average bank you can buy, hold and sell USD any time you please and that IS trading Forex (foreign exchange). i'm not sure what you mean by trading "on Forex".

any additional questions assuming my answer is not clear, please don't hesitate to ask.

Thanks Naam, with Forex I mean doing it myself by downloading the site and trading myself, instead of going to a bank and having them do it for me.

Is it easy enough to login to the Forex site, buy a heap of US$ and hold on to them for a while until the Aus$ drops. Or would that just be wasting my time and easier to just go to the bank and buy them there.

I just don't know the pitfalls etc of trading online with Forex myself.

[necronx99]

Hi All.

Is it possible for a Brit ex-pat living in thailand to invest in fixed deposits in Australia or N-Z

I see there are intrest rates of 5-6%,Is it possible?.

phupaman

Yes, apparently you can. Term deposits also. They will withhold tax however (10%).

http://www.commbank....ralia/faqs.aspx

why would anyone pay tax when he can avoid it?

I think to avoid the tax you would have to present yourself physically at some point and have an Australian address.

The bank will suspend your account if they get returned mail.

He could always just put it in my account...

[damo]

If you are in Australia for 26 weeks and 1 day of a financial year then you can qualify for the tax free threshold but this will diminish to nil the longer absence from Aus.

[necronx99]

If you are in Australia for 26 weeks and 1 day of a financial year then you can qualify for the tax free threshold but this will diminish to nil the longer absence from Aus.

True, but not an option in his case I would think. Also 10% tax on interest when you are getting 6% return is no great hardship...

[damo]

Hi Naam

I'm in oz. If I wanted to invest say $20k in US$ (as I don't think the oz dollar can sustain a high rate against the us$) do you suggest it best to just buy the US$ on Forex? Or should I just buy the US$ through a bank?

I was thinking it may be possible to use the Forex trading to just buy US$ whilst the oz dollar is high then sell them when the ass falls out of it. Though I've never traded on Forex and have no idea if that is the best way to do it.

Much obliged.

if you are with an average bank you can buy, hold and sell USD any time you please and that IS trading Forex (foreign exchange). i'm not sure what you mean by trading "on Forex".

any additional questions assuming my answer is not clear, please don't hesitate to ask.

Thanks Naam, with Forex I mean doing it myself by downloading the site and trading myself, instead of going to a bank and having them do it for me.

Is it easy enough to login to the Forex site, buy a heap of US$ and hold on to them for a while until the Aus$ drops. Or would that just be wasting my time and easier to just go to the bank and buy them there.

I just don't know the pitfalls etc of trading online with Forex myself.

The benefit of Forex is you can use leverage which is something to consider as generally the FX rate would need to swing in your favour considerably for you to profit, with leverage you can achieve the same using as little as 1% of your capital. Trouble with FX is the the opposit is true. If the fx rate swings against you it can mean margain call and bye bye. Forex is not for beginners or the feignt hearted. Gold is simmilar but moreso heart attack material.

[Jayman]

Unless you are familiar with how leveraged forex trading works I would highly discourage it. You would be much better off just putting your money in an AUD based bank account that pays interest.

just my 2 cents.

[chainarong]

Do you think it will remain stable for the next 1-2 months?

Yes

[chainarong]

Hi Naam

I'm in oz. If I wanted to invest say $20k in US$ (as I don't think the oz dollar can sustain a high rate against the us$) do you suggest it best to just buy the US$ on Forex? Or should I just buy the US$ through a bank?

I was thinking it may be possible to use the Forex trading to just buy US$ whilst the oz dollar is high then sell them when the ass falls out of it. Though I've never traded on Forex and have no idea if that is the best way to do it.

Much obliged.

if you are with an average bank you can buy, hold and sell USD any time you please and that IS trading Forex (foreign exchange). i'm not sure what you mean by trading "on Forex".

any additional questions assuming my answer is not clear, please don't hesitate to ask.

Thanks Naam, with Forex I mean doing it myself by downloading the site and trading myself, instead of going to a bank and having them do it for me.

Is it easy enough to login to the Forex site, buy a heap of US$ and hold on to them for a while until the Aus$ drops. Or would that just be wasting my time and easier to just go to the bank and buy them there.

I just don't know the pitfalls etc of trading online with Forex myself.

I do forex, be very carefull because unless you know price action you have not got a chance , indicators lag , you will never win with indicators.

[Naam]

Unless you are familiar with how leveraged forex trading works I would highly discourage it. You would be much better off just putting your money in an AUD based bank account that pays interest.

just my 2 cents.

wholeheartedly seconded!

[Naam]

Hi Naam

I'm in oz. If I wanted to invest say $20k in US$ (as I don't think the oz dollar can sustain a high rate against the us$) do you suggest it best to just buy the US$ on Forex? Or should I just buy the US$ through a bank?

I was thinking it may be possible to use the Forex trading to just buy US$ whilst the oz dollar is high then sell them when the ass falls out of it. Though I've never traded on Forex and have no idea if that is the best way to do it.

Much obliged.

if you are with an average bank you can buy, hold and sell USD any time you please and that IS trading Forex (foreign exchange). i'm not sure what you mean by trading "on Forex".

any additional questions assuming my answer is not clear, please don't hesitate to ask.

Thanks Naam, with Forex I mean doing it myself by downloading the site and trading myself, instead of going to a bank and having them do it for me.

Is it easy enough to login to the Forex site, buy a heap of US$ and hold on to them for a while until the Aus$ drops. Or would that just be wasting my time and easier to just go to the bank and buy them there.

I just don't know the pitfalls etc of trading online with Forex myself.

"the forex site" does not exist Wallaby. there are a dozen or more around which let you trade most foreign currencies. but these institutions want active traders to generate revenue with (admittedly) very low fees and are not interested in "buy, hold and trade once in a blue moon" clients. should you have any plans to trade actively i can (based on your background) only advise you "don't even think about it!"

no offence meant!

[12DrinkMore]

Hi Naam,

So how can one avoid the annoying tax deduction on AUD deposits? I have checked offshore AUD term deposits but not found any that give the same interest rate as onshore AUD's.

[necronx99]

Hi Naam,

So how can one avoid the annoying tax deduction on AUD deposits? I have checked offshore AUD term deposits but not found any that give the same interest rate as onshore AUD's.

That would be tax evasion and is generally frowned upon. Any bank account, even one opened by an Aust resident will have tax on interest deducted if you don't supply a tax file number.

[Naam]

Hi Naam,

So how can one avoid the annoying tax deduction on AUD deposits? I have checked offshore AUD term deposits but not found any that give the same interest rate as onshore AUD's.

That would be tax evasion and is generally frowned upon. Any bank account, even one opened by an Aust resident will have tax on interest deducted if you don't supply a tax file number.

you are entitled to the award "possesses a wealth of no idea as far as offshore banking and taxes are concerned".