Banana7 Posted December 5, 2016 Share Posted December 5, 2016 The euro sank to a 20-month low in Asia on Monday! Italian Prime Minister Matteo Renzi said he would resign in the wake of a stinging defeat on constitutional reform that could destabilize the country's shaky banking system. The Euro dropped to as low as US$1.0505, which is the biggest fall since June. Looks like it is headed to a retest of the March 2015 bottom of US$1.0457. Euro also slide 1.6 % against the yen to reach 118.63. US$ was at 113.10 yen. Time to dump GBP and Euro? Link to comment Share on other sites More sharing options...
Halfaboy Posted December 5, 2016 Share Posted December 5, 2016 Re: Time to dump GBP and Euro? Dump the GBP and Euro ... but what to buy back. Singapore Dollar, US Dollar, Swiss Franc, Norwegian Krone or gold ? Link to comment Share on other sites More sharing options...
OMGImInPattaya Posted December 5, 2016 Share Posted December 5, 2016 (edited) Time for my European vacations...cheap as chips there now. Edited December 5, 2016 by OMGImInPattaya Link to comment Share on other sites More sharing options...
Banana7 Posted December 5, 2016 Author Share Posted December 5, 2016 Some say Euro could go to USD$0.80 if another country exits the EU. Could be Italy or even Holland, with all the anti-immigration sentiment. Link to comment Share on other sites More sharing options...
daveAustin Posted December 5, 2016 Share Posted December 5, 2016 Time to dump GBP Bit late for that... she's on a rebound. Link to comment Share on other sites More sharing options...
tutsiwarrior Posted December 5, 2016 Share Posted December 5, 2016 (edited) would there be any advantage to transferring a large amount of euro to a local thai baht account? baht looks to be a lot more stable with the continuing central bank intervention and support... what exchange rate could we expect in the eur50k -100k range? Edited December 5, 2016 by tutsiwarrior Link to comment Share on other sites More sharing options...
Halfaboy Posted December 5, 2016 Share Posted December 5, 2016 Sending a large amount to Thailand is not the problem, but getting it out again .... Link to comment Share on other sites More sharing options...
tutsiwarrior Posted December 5, 2016 Share Posted December 5, 2016 7 hours ago, Halfaboy said: Sending a large amount to Thailand is not the problem, but getting it out again .... very true...but I was thinking more in terms of retaining the currency value... Link to comment Share on other sites More sharing options...
little mary sunshine Posted December 6, 2016 Share Posted December 6, 2016 16 hours ago, daveAustin said: Time to dump GBP Bit late for that... she's on a rebound. Rebound....5555555 will hit bottom in about another 6 months!! Dump 'em now! Link to comment Share on other sites More sharing options...
arithai12 Posted December 6, 2016 Share Posted December 6, 2016 I wouldn't be quite so hasty, look at the graph. I would wait to see what happens in the next 3 months, maybe now it is a good time to buy Euros (if you have USD). Link to comment Share on other sites More sharing options...
AlQaholic Posted December 6, 2016 Share Posted December 6, 2016 The moment the EU allowed dip shit countries like Serbia, Slovakia and Hungary into their circle, that's when the credibility of the Euro was lost..... Link to comment Share on other sites More sharing options...
Gulfsailor Posted December 6, 2016 Share Posted December 6, 2016 (edited) 3 minutes ago, AlQaholic said: The moment the EU allowed dip shit countries like Serbia, Slovakia and Hungary into their circle, that's when the credibility of the Euro was lost..... Ah yes. Excellent comment, except that Serbia is not in the EU, and of the three mentioned only Slovakia has the Euro. Try again, dipshit... Edited December 6, 2016 by Gulfsailor Link to comment Share on other sites More sharing options...
laislica Posted December 6, 2016 Share Posted December 6, 2016 This is all an illusion for little folk like us. FX dealers gamble with 10's of millions at a click of the mouse. They have live exchange rates online. They have software to ensure they make huge profits. (Sometimes they even gamble with money they don't have!) We don't stand a chance. If you can, when an exchange rate seems favourable, then move a chunk of money to a currency where you live and spend! Then forget about it till your spending reserves start getting too low. There is much more to life than worrying about exchange rates IMHO. As long as we have enough to live comfortably of course..... Link to comment Share on other sites More sharing options...
soalbundy Posted December 6, 2016 Share Posted December 6, 2016 20 hours ago, OMGImInPattaya said: Time for my European vacations...cheap as chips there now. It's back up to 1.0768 Link to comment Share on other sites More sharing options...
soalbundy Posted December 6, 2016 Share Posted December 6, 2016 2 hours ago, little mary sunshine said: Rebound....5555555 will hit bottom in about another 6 months!! Dump 'em now! with all that FX knowledge you must be rich Link to comment Share on other sites More sharing options...
12DrinkMore Posted December 6, 2016 Share Posted December 6, 2016 1 minute ago, laislica said: This is all an illusion for little folk like us. FX dealers gamble with 10's of millions at a click of the mouse. They have live exchange rates online. They have software to ensure they make huge profits. (Sometimes they even gamble with money they don't have!) We don't stand a chance. If you can, when an exchange rate seems favourable, then move a chunk of money to a currency where you live and spend! Then forget about it till your spending reserves start getting too low. There is much more to life than worrying about exchange rates IMHO. As long as we have enough to live comfortably of course..... It is not an illusion for a lot of people. It is a nightmare. Draghi has been very successful with his goal of dropping the EUR down to parity with the USD and keeping the zombie Eurobanks alive. Unfortunately the self-serving Euro-politicians have not been doing their jobs Instead, as politicians nowadays do, they sit on their bums, make lives difficult for the rest of us with more regulations and taxes, and award themselves large payrises, excellent perks and awesome pensions. They live in a little enclave of tax free ueber-wealth in Brussels. The theory is that with salaries down to thirds world levels, the economies will all burst into life and export themselves into prosperity. This is not going to happen. The Euro-bound countries do not have control of their currency, cannot invest and who in their right mind will go and invest in modern plants and factories in those hardworking efficient economies of, hmmm, Greece, Spain, Italy and the rest? China? India? Japan? Na! Germany lent a load of money to them, but they consumed it and it has all gone down the toilet. The UK is also deep in the brown stuff. It is tied to Europe and will be moribund in Brexit talks for the next three years. The politicians really love this, as they can have endless trips to Europe and claim more expenses. The legal guys are also licking their lips at the million plus fees they will be earning every month. Everybody else will suffer. It is not a good time for Europe. Link to comment Share on other sites More sharing options...
thurien Posted December 6, 2016 Share Posted December 6, 2016 14 hours ago, tutsiwarrior said: baht looks to be a lot more stable with the continuing central bank intervention and support... you'd better check again well after Dec14 (the Yellen Day...) Link to comment Share on other sites More sharing options...
little mary sunshine Posted December 6, 2016 Share Posted December 6, 2016 38 minutes ago, soalbundy said: with all that FX knowledge you must be rich Yes, now Rich, but working on Super Rich! Link to comment Share on other sites More sharing options...
soalbundy Posted December 6, 2016 Share Posted December 6, 2016 1 minute ago, little mary sunshine said: Yes, now Rich, but working on Super Rich! You need a crystal ball, nobody is worried about fundamentals any more, what does the country produce, infrastructure, education, political system etc, its all about momentary shocks, the Renzi shock lasted all of 3 minutes, the Trump shock 3 weeks, the Brexit shock 3 months, so they are learning. Opec comes to an agreement (words until now,as yet no action) up goes the price of oil, in come the fracking firms in America (as if that couldn't have been foreseen, i did ) down goes the price again. Trump will lower taxes and spend big on infrastructure, hurrah hurrah, the dollar surges, stocks go wild and now many economists are saying, wait a minute, this cant possibly work it's all built on assumptions, but hey it's the feel good factor, let us wait a few more months and everything will start to retreat again. Experts, don't you just love them. Link to comment Share on other sites More sharing options...
KhunBENQ Posted December 6, 2016 Share Posted December 6, 2016 1 hour ago, soalbundy said: It's back up to 1.0768 Yep. Good to see that it didn't drop to the Baht today. Cash has climbed over 38 again. Still so far from the good old 5x times Link to comment Share on other sites More sharing options...
soalbundy Posted December 6, 2016 Share Posted December 6, 2016 1 minute ago, KhunBENQ said: Yep. Good to see that it didn't drop to the Baht today. Cash has climbed over 38 again. Still so far from the good old 5x times There are the usual Euro-sceptics who have been telling us that the Euro will disappear soon, since 40 years now, hasn't happened yet but if it ever did and my pension reverts back to DM then it is a win situation for me as it will rise like bread in an oven. Link to comment Share on other sites More sharing options...
Deepinthailand Posted December 6, 2016 Share Posted December 6, 2016 3 hours ago, little mary sunshine said: Rebound....5555555 will hit bottom in about another 6 months!! Dump 'em now! Another load off buffalo poo Link to comment Share on other sites More sharing options...
blazes Posted December 6, 2016 Share Posted December 6, 2016 (edited) 1 hour ago, 12DrinkMore said: It is not an illusion for a lot of people. It is a nightmare. Draghi has been very successful with his goal of dropping the EUR down to parity with the USD and keeping the zombie Eurobanks alive. Unfortunately the self-serving Euro-politicians have not been doing their jobs Instead, as politicians nowadays do, they sit on their bums, make lives difficult for the rest of us with more regulations and taxes, and award themselves large payrises, excellent perks and awesome pensions. They live in a little enclave of tax free ueber-wealth in Brussels. The theory is that with salaries down to thirds world levels, the economies will all burst into life and export themselves into prosperity. This is not going to happen. The Euro-bound countries do not have control of their currency, cannot invest and who in their right mind will go and invest in modern plants and factories in those hardworking efficient economies of, hmmm, Greece, Spain, Italy and the rest? China? India? Japan? Na! Germany lent a load of money to them, but they consumed it and it has all gone down the toilet. The UK is also deep in the brown stuff. It is tied to Europe and will be moribund in Brexit talks for the next three years. The politicians really love this, as they can have endless trips to Europe and claim more expenses. The legal guys are also licking their lips at the million plus fees they will be earning every month. Everybody else will suffer. It is not a good time for Europe. Yes, this is a good summary of what is wrong more or less everywhere, but in addition all the 'developed world's' economies are over-populated with people like me over the age of 60, and therefore not in the business of buying , buying, buying. We long ago ceased to be consumers, [except for food and drink] and since "consumption" makes up about 70% of most developed world economies, they are all up the creek, without a paddle and a canoe. Edited December 6, 2016 by blazes italics Link to comment Share on other sites More sharing options...
Grubster Posted December 6, 2016 Share Posted December 6, 2016 The Fact that the Euro is up against the dollar [ Which is up against almost all currencies] since March 2015 tells me that the Euro is not down against major currencies at all. Link to comment Share on other sites More sharing options...
Steiner Posted December 6, 2016 Share Posted December 6, 2016 16 hours ago, tutsiwarrior said: would there be any advantage to transferring a large amount of euro to a local thai baht account? baht looks to be a lot more stable with the continuing central bank intervention and support... what exchange rate could we expect in the eur50k -100k range? I believe you would need to show a reason to bring that much money in i.e. when bringing money in for property you have to show where it came from and have the paperwork before the banks will clear it. No chance of getting it out otherwise. Link to comment Share on other sites More sharing options...
Krataiboy Posted December 6, 2016 Share Posted December 6, 2016 1 hour ago, soalbundy said: There are the usual Euro-sceptics who have been telling us that the Euro will disappear soon, since 40 years now, hasn't happened yet but if it ever did and my pension reverts back to DM then it is a win situation for me as it will rise like bread in an oven. Well, you're all right then. Link to comment Share on other sites More sharing options...
elgordo38 Posted December 6, 2016 Share Posted December 6, 2016 23 hours ago, Halfaboy said: Re: Time to dump GBP and Euro? Dump the GBP and Euro ... but what to buy back. Singapore Dollar, US Dollar, Swiss Franc, Norwegian Krone or gold ? Spend it while its still worth something. Link to comment Share on other sites More sharing options...
laislica Posted December 6, 2016 Share Posted December 6, 2016 23 hours ago, OMGImInPattaya said: Time for my European vacations...cheap as chips there now. Indeed. We spend 6 months in the south of Spain and the rest in Thailand. For me, Spain is cheaper than Thailand. My wife cooks at home and the price of veggies n fruit is very similar but alcohol is so much better quality and a tiny fraction of the Thai price. All Farang stuff that you might need in Thailand is also much cheaper in Spain. We have a car in Spain so travel is cheaper than Thailand. Housing is more expensive in Spain (but the quality is better). We've been back in Thailand for almost three weeks and spent about 100Kb so far. Needed a new TV 22K Wifey wanted a laundry room extension, 70K 8K stocking the pantry, beer and stuff. Tomorrow we are making a holiday trip with friends so maybe good bye to another 20K? We will pull our horns in when we're dead LOL Link to comment Share on other sites More sharing options...
Krataiboy Posted December 6, 2016 Share Posted December 6, 2016 Stop agonising. In the not too far distant future, the dollar, pound, euro etc will be replaced by a single, digital global currency and we'll live in a cashless society which will make currency speculation a thing of the past. All business and private transactions will be digital - via retina recognition, an implanted chip or some other risk-free recognition device - and monitored via a central computer, enabling Big Brother to block access to any account at the push of a button. This financial new world order and the achievement of the elite's vision of the enforced debt enslavement of the entire world population. Game over. (Yeah, I know - I'm just another of those danged conspiracy theorists!). Link to comment Share on other sites More sharing options...
elgordo38 Posted December 6, 2016 Share Posted December 6, 2016 The destiny the life and even death of most of us is controlled by a small group from the cradle to the grave. We live the illusion of freedom. Take my generation we were told to save for our retirement and now they have abandoned us for the greater good of the greedy and the wasteful so called credit consumers. They have turned into misanthrops against us. We get no interest hardly on our "savings" no COLA nothing. If we live to long our Golden Years will truly turn into coal. Link to comment Share on other sites More sharing options...
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