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Aussie Dollar Slides More, Below US $ Value!!


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Terry it was down at the 92 level for several days until the leader ship spill on Wednesday night.

 

Rose in reaction to Rudd, then dropped again when they realised there was not going to be a no confidence vote and change of election date.

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Terry it was down at the 92 level for several days until the leader ship spill on Wednesday night.

 

Rose in reaction to Rudd, then dropped again when they realised there was not going to be a no confidence vote and change of election date.

 

Not true. It rose that night due to a fall in the USD. For example, the NZD rose a whole cent more than us that night, so we actually were held back due to the turmoil of the change as seen from the overseas markets. A change of leader isn't a good thing when things are seen as good.

 

And as reported in the SMH, the fall in resources and gold the past couple of days, has seen strength in the USD again so ours has gone back down.

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Terry it was down at the 92 level for several days until the leader ship spill on Wednesday night. Rose in reaction to Rudd, then dropped again when they realised there was not going to be a no confidence vote and change of election date.

 

The_Big_M: Not true. It rose that night due to a fall in the USD. For example' date=' the NZD rose a whole cent more than us that night, so we actually were held back due to the turmoil of the change as seen from the overseas markets. A change of leader isn't a good thing when things are seen as good. And as reported in the SMH, the fall in resources and gold the past couple of days, has seen strength in the USD again so ours has gone back down. [/quote']

 

Appreciate these added insights and key points. Although we don't get into "politics" on these boards, it is clear that the recent Labor Party "coup" that dumped the Prime Minister and the approaching election battles down under have played a role for how these currency value questions have shifted, adjusted and moved. And, gold values are also a factor. Many, many aspects are connected and at play, including the ups and downs with the U.S. dollar. Hard to predict how it will all affect us in early January when we arrive in Australia and get ready for our Jan. 20-Feb. 3, 2014, Solstice cruise. Interesting to be following and learning more. Keep sharing the good background.

 

THANKS! Enjoy! Terry in Ohio

 

Did a June 7-19, 2011, Celebrity Solstice cruise from Barcelona that had stops in Villefranche, ports near Pisa and Rome, Naples, Kotor, Venice and Dubrovnik. Enjoyed great weather and a wonderful trip. Dozens of wonderful visuals with key highlights, tips, comments, etc., on these postings. We are now at 134,898 views for this live/blog re-cap on our first sailing with Celebrity and much on wonderful Barcelona. Check these postings and added info at:

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From the Sidney Morning Herald today, they have this headline: "Bears circle Goldilocks as Aussie is tipped to slide" with these highlights: "More bears have joined the downgrading party against the dollar, with a major investment bank expecting the currency to fall to US75¢ in 12 months as enthusiasm for what was once dubbed the 'Goldilocks economy' grows cold. The revised forecast from Credit Suisse came as Reserve Bank deputy governor Philip Lowe said governor Glenn Stevens' comments about Tuesday's board meeting - which sent the dollar sliding down half a cent - were 'light-hearted' and had been misinterpreted by financial markets and the media. The dollar rebounded slightly after trading below US91¢ for several hours following Mr Stevens' comments. It was buying US91¢ late on Thursday. While the dollar has fallen more than 13 per cent against its US counterpart since mid-April, Credit Suisse analysts said on Thursday they expected it to slip further to US87¢, a level it has not seen since July 2010. The analysts forecast the dollar to drop to US75¢ in 12 months. 'Our feeling remains that either the dollar will continue to fall naturally or the RBA will need to give it another push with a further interest rate cut,' Credit Suisse said. TD Securities also revised its forecasts on Thursday. It now expects the embattled currency to trade at US90¢ by year's end and fall as low as US85¢ in 2014. Bank of America was similarly bearish, saying its US89¢ forecast could be too upbeat if the slowdown in Australia's largest trading partner, China, takes place faster than economists expect. Weaker commodity prices, a stronger US dollar and Australia's slower-than-expected move away from a dependence on mining investment have also weighed on the currency."

 

As we get closer to our Jan. 20, 2014, sailing date, we will have a front-row seat to watch and see which of these predictions happen, come true, fall short, etc. For us, with our week-plus time in Australia before sailing out from Sydney, plus the stop in Tasmania, these downward "adjustments" are helpful for our budgets. Will keep monitoring these movements and trends with interest.

 

Full story at:

http://www.smh.com.au/business/bears-circle-goldilocks-as-aussie-is-tipped-to-slide-20130704-2peup.html

 

THANKS! Enjoy! Terry in Ohio

 

Did a June 7-19, 2011, Celebrity Solstice cruise from Barcelona that had stops in Villefranche, ports near Pisa and Rome, Naples, Kotor, Venice and Dubrovnik. Enjoyed great weather and a wonderful trip. Dozens of wonderful visuals with key highlights, tips, comments, etc., on these postings. We are now at 135,183 views for this live/blog re-cap on our first sailing with Celebrity and much on wonderful Barcelona. Check these postings and added info at:

http://www.boards.cruisecritic.com/showthread.php?t=1426474

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  • 4 weeks later...

On the Aussie dollar, the latest number early this evening from the Wall Street Journal is $0.8934 for its value. Just dropped below 90 cents. Now comes the more complicated part . . . The Aussie vs. NZ Dollar?

 

From the Herald-Sun in Melbourne tomorrow morning, they have this headline: "NZ dollar continues climb against Aussie" with these highlights: "New Zealand dollar approached 89 Australian cents on Thursday as investors favoured the reviving local economy over investment in Australia where the economy is slowing. The kiwi touched a new five-year high of 88.98 Australian cents. The local (NZ) currency was little changed at 79.84 US cents from 79.77 cents. The New Zealand dollar has surged 12 per cent against the Australian dollar this year as the rebuilding of earthquake-damaged Christchurch, rising house prices and high dairy prices underpin confidence and spending, bolstering the local economy and signalling higher interest rates. In contrast, Australia's economy is slowing as the mining boom comes off the boil. 'The Australian dollar has been under a lot of pressure,' said Kevin Morgan, a senior dealer at OM Financial. 'We have got two central banks diametrically opposed.' "

 

From the NZ Herald tomorrow in Auckland, they have this headline: "Kiwi dollar set to keep rising". Here are some of these story highlights: "The New Zealand dollar's rapid rise against Australia's currency is expected to continue. The kiwi has gained 11.6 per cent, against the aussie since the middle of March. Westpac senior market strategist Imre Speizer said the kiwi was expected to gain further. The economic outlook is rosier on this side of the Tasman, with Chinese demand for New Zealand's food exports remaining strong."

 

Bottom-line? As of right now, we'll do better in Australia for stretching our travel dollars, but maybe not quite as well as we might hope for in NZ. Clearly, the various "factors" are playing differently in these two countries. Different governments, economies and approaches for dealing with these economic strategies, etc. Have I confused things too much with the Aussie dollar value versus the NZ dollar versus the U.S. dollar? Haven't touched the euro, UK pound, etc. That would be too much added complexity.

 

Full stories at:

http://www.heraldsun.com.au/business/breaking-news/nz-dollar-continues-climb-against-aussie/story-fni0xqe4-1226689231897

http://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=10906256

 

THANKS! Enjoy! Terry in Ohio

 

Celebrity Solstice Visual Highlights? From our June 7-19, 2011, Solstice cruise from Barcelona that had stops in France, Italy, Kotor and Dubrovnik, I have pull together a number of wonderful visuals of the Solstice, its features, food, entertainment, options, etc. We are now at over 9,254 views for this shorter version of my larger full review of that cruise and all of the port pictures/details. Check these postings and added info at:

http://boards.cruisecritic.com/showthread.php?t=1803477


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The relationship between the Aussie dollar and the NZ dollar is irrelevant (at least to Americans). What matters is their relationship to the US dollar. Today the USD is worth $1.12 AUD and $1.27 NZD, both pretty good exchange rates.

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I think we have a Reserve Bank meeting next week with an expected further cut in interest rates. That generally impacts on the Aussie dollar.

But a lot of the movement is to do with the situation offshore. In 2008, when we survived the GFC without a recession, we still saw our dollar plunge.

A lot of the issue with our economy is that people have money but are hanging on to it. We get spooked by what is happening overseas. Savings rates are high at the moment and everyone is paying down their debts. Also, figures out yesterday were showing a substantial drop in the cost of aged care welfare because many of the over 65 age group are continuing to work at least part-time.

That means less of us, ourselves included, will be free to take long and leisurely retirement cruises.

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Personal debt yes. Government debt is growing every day, forecast to reach $400billion :eek:

 

And then you hear how many people want their hand out, and complain if anything is taken away from that.

 

Plus of course heavy campaigning from one of the media groups to support that welfare state mentality.

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On these boards, we are not allowed to get into the pro/con factors with "politics", but it is good for me personally to know the general background for is happening in the next month as this high-pitched election contest might affect the Aussie dollar value for us in early 2014 on our 14-day Solstice cruise. Then, after Sept. 7, there will be the fall-out, putting policies into places, etc. As I noted earlier, that is what makes it even harder to predict and/or guess how much lower will the Aussie dollar go, etc. In Australia, your election cycle is fairly short (compared to what some of us in states like Ohio suffer during an almost two-year election cycle). BUT, in a potentially tight race, the battle lines get much more intense (and loud and sharp). As I understand, there are two major newspaper chains in Australia. Fairfax owns papers in many in key cities such as Sydney, Brisbane, Melbourne, etc. Then, even bigger in many of these various large cities, also, is NewsCorp, the chain controlled by Rupert Murdoch. The Fairfax newspapers are already going after Murdoch saying he's trying to rig the results against Rudd and his Labor Party. The more conservative party is called the "Liberal-National coalition". This can get a little confusing, right?? By the way, the Wall Street Journal below is controlled by NewsCorp, but the part quoted seems to be a fairly balanced sampling for what maybe down" or it is about in the next month.

 

From the Wall Street Journal this morning, they have this headline: "Australian Prime Minister Kevin Rudd Calls Election for Sept. 7" with these highlights: "Australia's Prime Minister Kevin Rudd on Sunday called an election for Sept. 7, seeking to capitalize on a surge in support for the Labor Party since seizing the leadership from Julia Gillard in June. The announcement sets the scene for a tense contest between Mr. Rudd and Tony Abbott, who leads the center-right Liberal-National coalition, in an election that opinion polls suggest is neck and neck. In their early pitch to voters, both party leaders put their economic management credentials at the center of the debate. Mr. Rudd warned that promises by the center-right opposition to cut spending as growth slows runs the risk of pushing Australia into its first recession in more than 20 years. One of the world's best-performing developed economies, the prime minister said that Australia now faces a "profound" transition away from a reliance on the resources sector as commodities demand weakens from China, its biggest trading partner. Mr. Abbott accused Labor of excessive borrowing and spending and promised tighter stewardship of the nation's finances. 'If you can't manage the budget, you can't run the country,' Mr. Abbott told reporters. On Friday, the government warned that growth this year would be slower, unemployment higher and tax revenues sharply below what it previously expected as a steep decline in commodity prices prompts mining companies to shed staff and shutter mines."

 

Economics always makes it interesting!! And buying in 2012 a large share of Fairfax media was mining billionaire, Gina Rinehart. This western Australian, said to be the richest woman in the country, has became Fairfax's biggest shareholder. Am I following things somewhat correctly or close? Now, to watch "IT" all play out and evolve!!??

 

Full story at:

http://online.wsj.com/article/SB10001424127887324635904578647091338565934.html?mod=WSJ_hps_LEFTTopStories

 

THANKS! Enjoy! Terry in Ohio

 

Celebrity Solstice Visual Highlights? From our June 7-19, 2011, Solstice cruise from Barcelona that had stops in France, Italy, Kotor and Dubrovnik, I have pull together a number of wonderful visuals of the Solstice, its features, food, entertainment, options, etc. We are now at over 9,315 views for this shorter version of my larger full review of that cruise and all of the port pictures/details. Check these postings and added info at:

http://boards.cruisecritic.com/showthread.php?t=1803477

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And then you hear how many people want their hand out, and complain if anything is taken away from that.

 

Plus of course heavy campaigning from one of the media groups to support that welfare state mentality.

 

The latest example is the decision to require people to demonstrate that if they are claiming fringe benefits deductions for a work vehicle, that it is used for work purposes.

 

This is a reasonable requirement since that's what is being claimed for!

 

The 'Opposition' - despite its claims to good economic management - has opposed this change. And seriously, why does the general taxpayer need to give a subsidy to people to drive a car?

 

It's just another example of the poor economic credentials of one party, and why progress is slow here, when you have certain vested interests opposing a good economic measure.

 

Unsurprisingly, the News corp media are toeing the anti-government line as well. Any time the government does anything, Newscorp run some negative story about it, hence the dissatisfaction, given they're the major media source in Australia.

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It's just another example of the poor economic credentials of one party, and why progress is slow here, when you have certain vested interests opposing a good economic measure.

 

Appreciate the various Aussie insights, comments, etc. Look forward to following the twists and turns with your upcoming election contest. On money, it is hard to predict and know on the foreign currency fluctuations or the stock market. Below is more of an update and some of the factors at "play". Not simple or easy to guess or predict. Lots of factors involved!!

 

From Bloomberg News within the past few hours this morning, they have this headline: "Aussie Dollar Falls Versus Most Major Peers Before Jobs Report". From the Wall Street Journal this morning, they have the Aussie dollar at $0.8943. That is up slightly from when it had dipped recently a little below 89 cents.

 

Here is some of the Bloomberg News story highlights, factors and analysis for both countries down under: "Australia’s dollar fell versus most of its major counterparts ahead of a report tomorrow forecast to show the unemployment rate rose to the highest in four years. New Zealand’s dollar held its biggest gain in almost two weeks against the greenback after a successful milk powder auction reduced concern about a contamination recall in China. The Reserve Bank of Australia said it would monitor the economy to decide on further policy action when it cut the benchmark rate to a record yesterday. 'The general outlook for the Australian economy, despite what’s going on in the housing market right now, seems to be one of concern, particularly heading into tomorrow’s employment report,' said Jim Vrondas, the Sydney-based chief currency and payment strategist at OzForex Pty. 'Given that the Aussie failed to sustain any move above 90 U.S. cents after the RBA, it’s only natural that we see markets start to sell off again.' New Zealand’s dollar advanced to 79.13 U.S. cents after climbing 1 percent yesterday. Australia’s unemployment rate probably rose to 5.8 percent in July. That would be the highest since August 2009. RBA Governor Glenn Stevens said in a statement yesterday after cutting the benchmark rate to 2.5 percent that the board 'will continue to assess the outlook and adjust policy as needed to foster sustainable growth in demand.' The central bank is trying to stimulate growth in manufacturing, construction and retail, as a record mining-investment boom wanes. The Aussie has fallen 11 percent over the past three months, the most among 10 developed-market currencies tracked by Bloomberg Correlation-Weighted Indexes. New Zealand’s dollar is the second-worst performer, with a 5.3 percent decline."

 

Full story at:

http://www.bloomberg.com/news/2013-08-07/aussie-dollar-falls-versus-major-peers-before-employment-data.html

 

THANKS! Enjoy! Terry in Ohio

 

Did a June 7-19, 2011, Celebrity Solstice cruise from Barcelona that had stops in Villefranche, ports near Pisa and Rome, Naples, Kotor, Venice and Dubrovnik. Enjoyed great weather and a wonderful trip. Dozens of wonderful visuals with key highlights, tips, comments, etc., on these postings. We are now at 138,649 views for this live/blog re-cap on our first sailing with Celebrity and much on wonderful Barcelona. Check these postings and added info at:

http://www.boards.cruisecritic.com/showthread.php?t=1426474

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From Bloomberg News/Business Week this morning in the U.S., they have this headline: "Aussie Has Best Week Since 2011 as Data Signal China’s Stability" with many details explaining why the Aussie dollar has gone up in recent days. Now at $0.9196 per Wall Street Journal within the past hour.

 

Here are some of the key story highlights: "Australia’s dollar had its biggest weekly gain since 2011 after industrial output data today added to signs of economic stabilization in China, the South Pacific nation’s largest trading partner. The currency rose for a fifth day as the Reserve Bank damped expectations for further easing after cutting its key interest rate to a record low this week. 'The industrial production number was the one that everyone was looking for; it’s been a good read on the real economy and it blew expectations out of the water,' said Chris Weston, chief market strategist at IG Markets Ltd. in Melbourne. Australia’s dollar rose 0.5 percent to 91.46 U.S. cents at 5:15 p.m. in Sydney, after touching 91.54, the highest since July 30. It has gained 2.7 percent this week, the most since December 2011. New Zealand’s currency was little changed at 80.14 U.S. cents, after reaching 80.47 yesterday, the most since July 29. It has advanced 2.3 percent since Aug. 2. Industrial production in China rose 9.7 percent in July from a year ago. The Reserve Bank of Australia said in its quarterly policy outlook that gross domestic product will grow 2.25 percent in the year to December 2013, compared with 2.5 percent forecast three months earlier. Core consumer prices will rise 2.25 percent in the year to June 2014. The Aussie has fallen 9.7 percent in the past three months, the most among 10 developed-market currencies tracked by Bloomberg Correlation-Weighted Indexes. The kiwi was the second-biggest loser, with a 4.2 percent decline.".

 

Full story at:

http://www.bloomberg.com/news/2013-08-09/aussie-set-for-best-week-in-more-than-a-year-before-china-data.html

 

THANKS for the various Aussie and down under insights and comments! Interesting reading!! Enjoy! Terry in Ohio

 

For details and visuals, etc., from our July 1-16, 2010, Norway Coast/Fjords/Arctic Circle cruise experience from Copenhagen on the Silver Cloud, check out this posting. This posting is now at 115,384 views.

http://www.boards.cruisecritic.com/showthread.php?t=1227923

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The currency values will be bouncing around during the coming months. One key, immediate factor, from what I understand, will be the upcoming election in Australia. Don't want to get into politics here, but the BBC just posted in the past few minutes a story on the debate between the two main candidates today. This is the headline: "Australian election rivals Rudd and Abbott hold first debate" with these highlights: "Australia's Labor Prime Minister Kevin Rudd and opposition leader Tony Abbott have sparred over the economy and immigration in the first televised debate of the election campaign. Current opinion polls put Mr Abbott's Liberal-National coalition in the lead for the 7 September election. But Labor has narrowed its lead since Mr Rudd returned to office in June. And while his party lags behind, Mr Rudd is seen by polls as Australians' preferred choice as prime minister."

 

This BBC story has lots more on the various issues being debated, kicked around, etc. The story also noted: "Sunday's debate was the first of three such possible meetings before polling day. Analysts had been predicting a fiery exchange between the two men, but Australian media said the tone of the debate had been far more cordial than expected."

 

From the two major newspaper chains there, I have been reading in the past week some of the other stories and background/analysis, etc. Highly fascinating. Not boring!! I do many political projects, including on-air televisions shows here in Central Ohio. Reading these details and the strong back-and-forth in Australia gives a refreshing look at how the issues and personalities and media play out there. Their election day is only four weeks away. Will be reading with interest. Both the Fairfax and NewsCorp papers are devoting lots of staff, coverage and attention.

 

Full story at:

http://www.bbc.co.uk/news/world-asia-23654148

 

THANKS! Enjoy! Terry in Ohio

 

Did a June 7-19, 2011, Celebrity Solstice cruise from Barcelona that had stops in Villefranche, ports near Pisa and Rome, Naples, Kotor, Venice and Dubrovnik. Enjoyed great weather and a wonderful trip. Dozens of wonderful visuals with key highlights, tips, comments, etc., on these postings. We are now at 138,895 views for this live/blog re-cap on our first sailing with Celebrity and much on wonderful Barcelona. Check these postings and added info at:

http://www.boards.cruisecritic.com/showthread.php?t=1426474

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I doubt if the election results will have much impact on the exchange rate. Despite the different personalities involved, there is not a great difference in the actual policies of the parties; more in the details of implementation.

I think most of us are extremely grateful that the campaign will be short!! We are one of the few countries where voting is compulsory. At least there is usually a nice cake stall and or sausage sizzle when we go off to vote.

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I doubt if the election results will have much impact on the exchange rate. Despite the different personalities involved, there is not a great difference in the actual policies of the parties; more in the details of implementation. I think most of us are extremely grateful that the campaign will be short!! We are one of the few countries where voting is compulsory. At least there is usually a nice cake stall and or sausage sizzle when we go off to vote.

 

Yes, the campaign will be short. Good news!! I forgot about your unique aspect in having voting being required. That's much different than here in the U.S. Appreciate the insights and info.

 

As of 5 pm this afternoon from the Wall Street Journal, the Aussie dollar is at $0.9148. It had gone over 92 cents today, but has started to drop back a little. Hard to know exactly where it will land by mid January 2014 as we prepare for our Jan. 20-Feb. 3, 2014, Solstice cruise, Sydney to Auckland..

 

From The Age, the Fairfax newspaper in Melbourne, Australia, within the past 30 minutes, they have this headline: "Australian dollar lower on US economic strength" with these highlights: "The Australian dollar is lower after the US monthly budget statement showed the government remained on track to post its lowest annual budget gap in five years. The local unit was trading at 91.46 US cents. The US July budget statement indicated a strengthening of the US economy, with increased revenue and a narrowing deficit. The improving economic outlook renewed expectations that the US Federal Reserve will soon begin tapering its economic stimulus, which added strength to the greenback and put pressure on the Australian dollar."

 

From the Brisbane Courier-Mail yesterday in Australia, they have this headline: "Travel money cards surge as Australian dollar falls" with these highlights: "Travellers are embracing travel money cards to lock in exchange rates in the wake of the falling Australian dollar, but are overwhelmed at the sheer number of choices available. Banks, airlines, foreign exchange providers and Australia Post are flooding the market with the prepaid cash cards, which have replaced traveller's cheques as the preferred way to conduct transactions overseas. Card provider OzForex said it experienced a 66 per cent rise in applications in June while a recent MasterCard report predicted Australia's prepaid consumer travel card market will reach $2.9 billion by 2017. Recent research by comparison website Canstar found Mastercard's Multi-currency Cash Passport was the best value travel money card on the market. 'The cost of the card and what it costs to load and reload is quite low,' Canstar research manager Mitchell Watson said. 'With some cards you get charged by the card issuer and the ATM when you withdraw money overseas but there are no ATM fees on this card so you don't have to worry about being charged twice.' With so many options available, Mr Watson said people need to be savvy about which card they choose and do their research. A UK study by Compare Money found travel money cards gave an eight per cent better exchange rate than exchanging at airports and five per cent better than at an exchange bureau."

 

Personally, I am not jumping to buying any such money cards. Interesting concept to watch and consider, maybe.

 

Full stories at:

http://www.theage.com.au/business/markets/australian-dollar-lower-on-us-economic-strength-20130813-2rsyn.html

http://www.couriermail.com.au/travel/travel-advice/travel-money-cards-surge-as-australian-dollar-falls/story-fnihr5wo-1226695404103

 

THANKS! Enjoy! Terry in Ohio

 

Did a June 7-19, 2011, Celebrity Solstice cruise from Barcelona that had stops in Villefranche, ports near Pisa and Rome, Naples, Kotor, Venice and Dubrovnik. Enjoyed great weather and a wonderful trip. Dozens of wonderful visuals with key highlights, tips, comments, etc., on these postings. We are now at 139,030 views for this live/blog re-cap on our first sailing with Celebrity and much on wonderful Barcelona. Check these postings and added info at:

http://www.boards.cruisecritic.com/showthread.php?t=1426474

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We have used money cards successfully for a few years. The convenience of using a normal ATM card without the issue of the card also accessing our major accounts.

And as we are a nation of gamblers, we can have a punt on the exchange rate with them.

I was happy last night to find a few hundred US dollars in the safe! Many people go and buy small amounts when our dollar is high.

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As of this morning from the Wall Street Journal, the Aussie dollar is at $.9190. For the past week or so, it has been bouncing around 90-92 cents. Been following with interest the election battles down under. They are now just a little less than three weeks from the Australia national elections to decide the next Prime Minister. Decision day will be on Saturday, September 7. As noted below, the target timing of November on potentially re-setting your interest rates will be another key factor as to how the economies in both Australia and China are responding and moving. Add up those future factors and you will see more on the level of the Aussie dollar for when we are there in January 2014 for our cruise. Lots of variables and time to evolve/shift!!

 

From the NewsCorp Courier Mail newspaper yesterday morning in Brisbane, Australia, they have this headline: "Aussie dollar set to freefall to as low as US80 cents".

 

Here are some of the highlights from this analysis by their writer: "The Australian dollar has slumped 12 per cent this year and is heading for its worst performance in more than two decades. Stephen Miller, a money manager at BlackRock, estimates the Aussie will fall toward US80¢ over the next nine months as China slows and the US economy recovers. 'I suspect the RBA can cut again in November if they don't get the requisite transition from growth led by mining-sector investment to other parts of the economy,' Mr Miller said. Australia's dollar is the biggest loser among major currencies this year, tumbling 9.8 per cent against a basket of nine peers including the euro, yen and pound, according to Bloomberg data. It's headed for its biggest annual decline based on those indexes since it tumbled 11 per cent in 1990. A recent survey of analysts by Bloomberg found the median estimate for the Aussie was for it to finish the year at US89¢. Pimco money manager Adam Bowe said the biggest global headwind for Australia is the current slowdown in Chinese growth. 'The currency's recent fall is definitely a welcome relief for many sectors of the economy, but it's still elevated and at a level that's restraining activity, not stimulating activity,' Mr Bowe said."

 

Full story at:

http://www.news.com.au/national-news/queensland/aussie-dollar-set-to-freefall-to-as-low-as-us80-cents/story-fnii5v6w-1226698621347

 

THANKS! Enjoy! Terry in Ohio

 

Celebrity Solstice Visual Highlights? From our June 7-19, 2011, Solstice cruise from Barcelona that had stops in France, Italy, Kotor and Dubrovnik, I have pull together a number of wonderful visuals of the Solstice, its features, food, entertainment, options, etc. We are now at over 9,661 views for this shorter version of my larger full review of that cruise and all of the port pictures/details. Check these postings and added info at:

http://boards.cruisecritic.com/showthread.php?t=1803477

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As far as I am aware, about 80 cents is the level preferred by the Reserve Bank and if the US recovery continues, it may head that way before your trip.

Will make the prices a lot more comfortable for you. Dont know if you saw the article on BBC online from their new correspondent about Sydney prices, which he thought to be extremely high. But it seems he probably went into the food court at David Jones (somewhat equivalent to Harrods) and found raspberries for $8 a punnet, or whatever, and French cheese for $150 a kilo. People pointed out that raspberries are out of season (and actually not eaten a huge amount here) and strawberries are currently $1 a punnet. Local cheese is $8 a kilo and a large range of imported cheese is around $30.

Also keep in mind that our wages are in more in line with our prices. eg my friend was saying yesterday that her son in Brisbane has got a labourer to move garden mulch for $35 an hour. A friend just got a part-time clerical position at $45 an hour in Sydney.

Another by the way, it is not just the Prime Minister who will be elected. It is the whole lower house, as well as half of the senate. Our parliament was based on a mixture of the British and American systems.

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As far as I am aware, about 80 cents is the level preferred by the Reserve Bank and if the US recovery continues, it may head that way before your trip. Will make the prices a lot more comfortable for you. Dont know if you saw the article on BBC online from their new correspondent about Sydney prices, which he thought to be extremely high. But it seems he probably went into the food court at David Jones (somewhat equivalent to Harrods) and found raspberries for $8 a punnet, or whatever, and French cheese for $150 a kilo. People pointed out that raspberries are out of season (and actually not eaten a huge amount here) and strawberries are currently $1 a punnet. Local cheese is $8 a kilo and a large range of imported cheese is around $30. Also keep in mind that our wages are in more in line with our prices. eg my friend was saying yesterday that her son in Brisbane has got a labourer to move garden mulch for $35 an hour. A friend just got a part-time clerical position at $45 an hour in Sydney. Another by the way, it is not just the Prime Minister who will be elected. It is the whole lower house, as well as half of the senate. Our parliament was based on a mixture of the British and American systems.

 

Super appreciate this above great, added background on Australia, its economy, politics, etc. Very helpful!! Will share this info on our roll call. It is hard to understand ALL of these twists and turns with the various economic factors in many countries. Within the past two hours, from the NewsCorp newspapers in Australia, they have this headline: "Australian dollar and stockmarket both down as investors get nervous". As of this morning, the Wall Street Journal has the Aussie dollar at: $0.8988. I have posted this info on our roll call. NewsCorp is a sister company to the Wall Street Journal and their reporting has been along these lines.

 

Here are these story highlights: "THE Australian dollar has dived back below US90c as the stock market took a further tumble, bringing to more than $200 billion the recent run of losses, despite signs the US economic recovery is gathering strength. The mixed signals from the US Federal Reserve about when it will begin slowing its pumping of money into the global economy has sparked confusion across the globe as investors, after more than three years, move to wean themselves off cheap money. The Fed's pumping of around $US85 billion a month through bond purchases has been widely credited with the stock market rise of the past 12 months. Fears of its tapering saw the Australian market finish in the red yesterday for the sixth time out of the last seven sessions. The Australian dollar also dropped to a two-week low of US89.3c before recovering some ground in late trading after private sectors data showed Chinese manufacturing growth is on the rise. This comes after months of slowing activity that had sparked concerns the world's second biggest economy may have been heading for a hard landing. The major uncertainty facing global investors is the US Fed's reduction in bond buying and this has seen stocks fluctuate widely in recent months on little concrete information. The release of the minutes from the Fed's monthly meeting shows officials were 'comfortable' with the plan to scale back the economic stimulus that has seen the central bank buy $US85 billion a month in government bonds and mortgage securities to boost confidence."

 

World economics?? Clear as mud??

 

Full story at:

http://www.news.com.au/national-news/australian-dollar-and-stockmarket-both-down-as-investors-get-nervous/story-fncynjr2-1226702383606

 

THANKS! Enjoy! Terry in Ohio

 

Celebrity Solstice Visual Highlights? From our June 7-19, 2011, Solstice cruise from Barcelona that had stops in France, Italy, Kotor and Dubrovnik, I have pull together a number of wonderful visuals of the Solstice, its features, food, entertainment, options, etc. We are now at over 9,770 views for this shorter version of my larger full review of that cruise and all of the port pictures/details. Check these postings and added info at:

http://boards.cruisecritic.com/showthread.php?t=1803477

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