Forex Good time to buy USD?

Discussion in 'Other Asset Classes' started by mustgroove, 7th Oct, 2010.

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  1. mustgroove

    mustgroove Member

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    The AUD is so strong against the USD atm, is now a good time to do a little straight-up buying of USD? It will inevitably fall again, maybe later rather than sooner, but I can't see it staying so strong forever...

    Are there any online places to do this kind of trading? Like Etrade or something along those lines?
     
    mustgroove, 7th Oct, 2010
    #1
  2. Johny_come_lately

    Johny_come_lately Well-Known Member

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    Is now a good time to buy?... is that a trick question. :)

    I have been told that HiFx.com, XE.com and ozforex.com.au sell FX. Haven't checked them out though.





    Johny.
     
    Johny_come_lately, 7th Oct, 2010
    #2
  3. Chris C

    Chris C Well-Known Member

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    I don't know if it's a good time to buy USD but it might be a good time to sell AUD...

    :D

    I think moving into Asian currencies or stocks would be a good long term move at these levels. With Chinese currency pegged to the USD I think Chinese stocks look reasonably attractive from an Australian perspective.
     
    Chris C, 8th Oct, 2010
    #3
  4. Johny_come_lately

    Johny_come_lately Well-Known Member

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    :D:D:D:D:D"but it might be a good time to sell AUD":D:D:D:D:D







    J.
     
    Johny_come_lately, 8th Oct, 2010
    #4
  5. mustgroove

    mustgroove Member

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    Anyone have any forex experience? Keen to look at it but just unsure exactly how it works/how it's done
     
    mustgroove, 8th Oct, 2010
    #5
  6. Tropo

    Tropo Well-Known Member

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    Transactions in the foreign exchange market always involve two currencies, which are known as a pair.
    So, FX players do not buy/sell any particular currency in isolation.
    If trading AUD (Australian dollar), against USD (US dollar) the pair is written as AUD/USD.
    Currently AUD/USD = 98 c (0,9804).
     
    Tropo, 8th Oct, 2010
    #6