Looking up on the exchange rate

[MM 6,562]

Looking up on the exchange rate here.

 

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[kikc69 45]

Over 30 baht to the dollar. That is much better

[MM 6,562]

Haven't seen that in quite a while.

 

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[englishinsiam 15]

46 for the £ is welcome too

 

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[MM 6,562]

Just gets better by the hour.

 

 

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[wacmedia 277]

Hi,

 

Where will it all end ? This guy is usually a booster for the economy but is downbeat today.

 

http://www.cityam.com/article/two-reasons-worry-about-bubbles-global-markets

 

 

 

Two reasons to worry about bubbles in the global markets

by Allister Heath

June 3, 2013, 5:19am

IT'S MONDAY, dear readers, so here are two reasons to worry. Let's start with the least obvious: Britain's listed firms are doing far less well as a group, when assessed properly, than most people seem to think.

Forget about earnings per share in the FTSE 100, or any of the other adjusted and partial measures. If one looks at the purest measures of profitability, and extends that to the 350 largest firms, the picture is gloomy.

As we report on p1, net profits from the FTSE 350 plunged 29.7 per cent in 2012, to a level 14 per cent lower than in 2007, the Share Centre reveals, but better than in 2008-2009, the two really bad years. Gross profits (sales minus the cost of goods sold) fell 6.9 per cent; pre-tax profits declined by 24.6 per cent. Companies are failing to pass on rising costs to their customers.

Revenues rose just 2.1 per cent, much less than they have in recent years (total turnover is up by 44 per cent in nominal terms since 2007, but profit margins have collapsed). The largest 100 firms (which are more global than ever) grew sales by 2.3 per cent to £1.83 trillion, while the FTSE 250 eked out growth of 0.9 per cent to £238.2bn. After tax profits from the large cap firms fell to £104.0bn, down 30.8 per cent; for the mid-caps, profits were £10.5bn, 16.5 per cent lower.

The squeeze was spread across sectors - but the pain from banks, oil and gas and miners - which are massively over-represented among the very biggest London companies - is a major explanation for this bad news. Lower raw material and energy prices are now a disaster for UK Plc; we are in many ways a commodity market. But regardless of reason, it's clearly bad news for stock market bulls.

The other, even greater, reason to worry is the global bond bubble, to be seen in the context of the Bank for International Settlements' latest warning on the side-effects of QE. The bond bubble - fuelled in part by the authorities' massive buying of government securities - saw signs of popping last week and could take down other markets and entire economies in its wake. The global junk bond bonanza - issuance is up 53 per cent this year - could also be throttled.

Yields have been going up everywhere, including on gilts and in Japan, but the US action was especially noteworthy. US Treasuries suffered their worst month in two and a half years last week. Some attribute this to better economics news, and the possibility that the Fed could tighten money - but whatever the reason, watch the bond markets like a hawk this week.

[roorsoldja 325]

well it's nice to see my Canadian $ making it back but still a long hike to 30

WTF is the green back doing better than mine we've been neck and neck so long.

oh well hopefully this trend continues

[InternationalTraveler 282]

I follow the exchange rate every day and at last it has started heading in the right direction.

I changed ££££'s from the UK in December and got the bank rate of 49 thb.

Lets hope it reaches those crazy heights again, my bank account will soon be running on fumes.

[Evil Penevil 7,628]

Yesterday evening I changed a US$100 bill at an independent exchange booth on Soi 7 and got 30.51 baht to the dollar. Bank affliliated booths were offering bewteen 30.27 and 30.38.

 

Evil

[Steef 12]

Yesterday evening I changed a US$100 bill at an independent exchange booth on Soi 7 and got 30.51 baht to the dollar. Bank affliliated booths were offering bewteen 30.27 and 30.38.

 

Evil

Don't you guys feel sorry for the Australians. Their currency took a big hit in the last few weeks and it looks it could go down more. Not to worry. The Oz Peso was overvalued thanks to high commodity prices in the past and all good things must come to an end. The lower Aussie Dollar will help Australian exports and tourism. It is less of a rosy picture for Aussie expats living in Thailand.

[jacko 8,776]

Don't you guys feel sorry for the Australians. Their currency took a big hit in the last few weeks and it looks it could go down more. Not to worry. The Oz Peso was overvalued thanks to high commodity prices in the past and all good things must come to an end. The lower Aussie Dollar will help Australian exports and tourism. It is less of a rosy picture for Aussie expats living in Thailand.

Hell no... don't they live in the best country in the world to live and work?

[Evil Penevil 7,628]

Don't you guys feel sorry for the Australians. Their currency took a big hit in the last few weeks and it looks it could go down more. Not to worry. The Oz Peso was overvalued thanks to high commodity prices in the past and all good things must come to an end. The lower Aussie Dollar will help Australian exports and tourism. It is less of a rosy picture for Aussie expats living in Thailand.

 

No reason to feel sorry for them. The Aussie dollar appreciated for fundamental and speculative reasons; now the trend has reversed. Currency fluctuation is the name of the game and the Aussie had a good long run. But Australian exporters and the tourist secor won't be sad to see it depreciate.

 

Last night, I saw one of the bank-affiliated booths was buying USD 100 bills at 30.71 baht per dollar. Didn't see an independent booth price, but it would have probably been at about 30.90. Today Superrich is buying USD at a rate of 31.07, but that rate is only available at its Rajadumri and Silom branches in Bangkok.

 

Evil