US Dollars plunge
-
Originally posted by AndrewPKYap:
.... US companies operating in Asia will find that it costs more... it will be less attractive for them to outsource overseas compared to manufacturing the goods and services in the US or US currency pegged countries.
... the goods manufactured outside of the US will cost more and it will be less attractive to buy foreign goods compared to locally US produced goods.
It just means.. that when Singapore becomes too expensive to operate their plants.. they will pull out and send the operations elsewhere lor.. in the End.. SGreans will have less jobs lor...
US don;t solely rely on Asia plants to manufacture their products.. they also have sources from third world European or Latin Am countries.
The most is.. they manufacture in Asia ..sell to Asia market. Can still make some profit if they downsize.
-
bloody hell i hope the us doesn't go any lower sia.......all my mother money later......huuuu.....
-
It's not fair, the USD has dropped but Amazon adjusted it's prices upwards.
-
Originally posted by Deino:
bloody hell i hope the us doesn't go any lower sia.......all my mother money later......huuuu.....
Quick, change to Euro or buy gold -
Originally posted by jojobeach:
It just means.. that when Singapore becomes too expensive to operate their plants.. they will pull out and send the operations elsewhere lor.. in the End.. SGreans will have less jobs lor...
US don;t solely rely on Asia plants to manufacture their products.. they also have sources from third world European or Latin Am countries.
The most is.. they manufacture in Asia ..sell to Asia market. Can still make some profit if they downsize.
yup tis isnt good news...
-
Mr Bush told me this...
he would travel to New York on Friday to give a speech aimed at reassuring Americans that economic conditions will soon improve.
-
Originally posted by noahnoah:
Mr Bush told me this...
he would travel to New York on Friday to give a speech aimed at reassuring Americans that economic conditions will soon improve.
Ah Bush term is going to finish, whatever he says is nothing worth noting -
Originally posted by maurizio13:
It's not fair, the USD has dropped but Amazon adjusted it's prices upwards.
It's how business works.
USD drop but oil price goes up. Transportation and energy cost goes up.. have to adjust price lor.
-
Today's rate
USD - SGD
-
-
my sister just bought 50kSGD worth of USD. i want to buy too!!!
-
Who here got invest in RMB 4 years ago and until recently ?
-
Sian... Feel like investing but no $$$.
-
i tot u kana bangz liao?
-
Ah..today the dollar rose from 1.3790 to 1.3867..
The graph is live btw
LIVE GRAPH - IN GMT(+8 for Singapore Time)
-
AFP - 1 hour 4 minutes ago
Oil prices hit new high above 111 dollars as US currency slumps
SINGAPORE, March 17, 2008 (AFP) - Oil prices soared to new highs above 111 dollars in Asian trading Monday as the US currency slumped to another fresh low against the euro, sparking a rush of funds into commodities including crude, dealers said.
In afternoon trading, New York's main contract, light sweet crude for April delivery was trading at 111.18 dollars a barrel after soaring earlier to a fresh all-time high of 111.42 dollars.
New York oil prices closed Friday at 110.21 dollars at the end of US trading hours, a day after hitting 111 dollars for the first time in its history.
Brent North Sea crude for May delivery was up 80 cents to 107 dollars. The April contract expired Friday at 107.54 dollars.
The latest record-setting mark in New York oil prices came as the euro rose to a lifetime peak of 1.5905 dollars in Asian trading Monday while the US currency fell to as low as 95.75 yen, a level not seen since September 1995.
The US currency's continued plunge against the euro and other major units is triggering a flood of funds into commodities such as oil which are seen as safe havens amid rising concerns over the US economy and financial turmoil from a global credit squeeze.
"At the moment it really seems to be a case where the continued dollar weakness appears to be the key driver for oil," said Gerard Burg, a minerals and energy economist with National Australia Bank in Melbourne.
"The kind of evidence we are seeing at the moment in the US equity markets is counter cyclical to the commodity markets," he said.
In the near-term, oil prices are likely to trend higher with no relief seen for the US currency as investors worry about the US financial system following the woes of Bear Stearns.
"We can continue to expect strong prices for oil and commodities like gold in the near term," said Victor Shum, an analyst with energy consultancy Purvin and Gertz in Singapore.
The ailing greenback has helped drive up oil prices because crude is priced in dollars and becomes more affordable for purchasers holding stronger currencies.
Investors view oil futures as a hedge against inflation and the weak dollar.
Societe Generale said in a report Monday the "US dollar is under sustained pressure... any relief rallies are being swiftly sold."
Oil prices have rocketed by 90 percent over the past year as the market was driven by tight supplies, geopolitical concerns in key producer nations and fierce demand for crude from China and India.
Prices have gained about 11 percent in value since the start of 2008, accelerating after the OPEC oil cartel held output at current levels at a meeting in early March.
-
Originally posted by ceecookie:
Ah..today the dollar rose from 1.3790 to 1.3867..
The graph is live btw
LIVE GRAPH - IN GMT(+8 for Singapore Time)
u're juz being sarcastic rite? -
Originally posted by newcomer:
u're juz being sarcastic rite?Er..why?
Im just giving a "daily commentary",whether it rise or fall
-
Great Britain Pound also fell.
LIVE GRAPH
GBP - SGD
Jan - March '08
Daily (Live)
Ha,now shopping in UK is cheaper lol
-
Guys do u think the US dollar will remain around 1.38 one month later?
-
wonder if US$ will drop until about US$1 to S$1.2 or not....
-
the currency for fuel in OPEC in the future is RMB!
dun play play.. =P
Start worrying about drinking water... cause fuel u will always have. But not clean drinking water. I think SG have solved it with its.. NEWATER. lol ...
-
Well juz assuming. Does it be possible that the US did on purpose to make it own currency go low as US have lost alot of Completive to China and Asia. Hence US have to lower it currency rate + econ and bring up China and other part of Asia to be on same par?? And to Make it happen, war could be a way to it?? Well is juz assumption :p
-
maybe just to cover up something
or planning to do something big
!!!
-
Originally posted by KaYaBrEaD:
Well juz assuming. Does it be possible that the US did on purpose to make it own currency go low as US have lost alot of Completive to China and Asia. Hence US have to lower it currency rate + econ and bring up China and other part of Asia to be on same par?? And to Make it happen, war could be a way to it?? Well is juz assumption :p
Devaluation of the currency basically decreases imports, increases exports assuming price elasticity for both demands. Hence in turn turning around the balance of payments deficit.