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AUSSIE Australian for Cash. What’s the future look like down under, mate?. Monetary History. Introduced in 1966 Aussie notes are issued by the Reserve Bank of Australia Coins are produced by the Royal Australian Mint It was managed in accord with the Bretton Woods gold standard.

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AUSSIEAustralian for Cash

What’s the future look likedown under, mate?


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Monetary History

  • Introduced in 1966

  • Aussie notes are issued by the Reserve Bank of Australia

    • Coins are produced by the Royal Australian Mint

  • It was managed in accord with the Bretton Woods gold standard


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Monetary History Continued

  • In 1971, Nixon removed the US from the Gold Standard

    • The Aussie continued to peg to the dollar but this gradually changed in the following decade

  • In 1983, the Aussie moved away from being pegged to any other particular currency

    • Instead, it is now valued in accordance with domestic measures such as Australian CPI


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Graphical Analysis

  • An analysis of graphs of the Australian Dollar against the U.S. Dollar over the past 15 years…


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What Do the Analysts Think?

  • According to most analysts, the Australian Dollar has an great outlook both short-term and long-term.

    • Though the graphs show a clear-cut resistance point around .79 over the past 15 years, there is a possibility that it will finally break the .79 barrier and created a new resistance point somewhere in the .80s.

  • Most attribute a lot of this great outlook to heavy overseas trading of the Aussie and future increases in Australian interest rates.


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Analyst Quotes

  • "The outlook for the Aussie is looking pretty good."- Alex Schuman, currency strategist at Commonwealth Bank (2/23/05)

  • "The Aussie maintained its flirtation with the 0.79 region before pulling back but the market is continuing to buy on shallow dips and the Aussie likely to slowly and gradually break upwards."

    - Kunal Sharma, Forex Analyst (2/22/05)

  • "There may have been some initial Australian dollar buying amid further talk in local newspapers of likely interest rate rises."

    - Chris Loong, senior portfolio manager at AMP Capital Investors. (2/21/05)


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More Analyst Quotes

  • "There's a lot of resistance at the $US0.7900 level. Perhaps with there being a bit more uncertainty over the second rate hike, they're taking the opportunity to sell it up around that $US0.7900 level."

    - John Kyriakopoulos, currency strategist at National Australia Bank. (2/21/05)

  • "Offshore has been very willing to buy Aussie in the last 10 days on the back of the interest rate argument. Offshore (investors) are really quite enamoured with this interest rate type angle and have decided it doesn't really matter if interest rates go in March or April."- Jo Masters, currency strategist at Macquarie Bank. (2/21/05)


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More Analyst Quotes

  • "The Aussie dollar stands alone in defying the US dollar strength that started in 2005. That results in a positive chart that supports a further appreciation of the Australian currency. Although the uptrend is expected to last a little longer, long positions are to be watched closely as resistance is near."- Martijn Prook, currency strategist at Rabobank GroupTreasury. (2/18/05)


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And now for someAussieHumour…

A Texan farmer goes to Australia for a vacation. There, he meets an Aussie farmer and gets talking. The Aussie shows off his big wheat field and the Texan says, "Oh! We have wheat fields that are at least twice as large. Then they walk around the station a little, and the Aussie shows off his herd of cattle. The Texan immediately says, "We have longhorns that are at least twice as large as your cows". The conversation has, meanwhile, almost died when the Texan sees a herd of kangaroos hopping through the field. He asks, "And what are those?" The Aussie replies with an incredulous look, "Don't you have any grasshoppers in Texas?"