A little help with converting SGD to AUD - please!

[Wazandy]

Cheers guys..

My wife is in Singapore selling a small flat, she'll be returning to Aus with a (Sing dollar) cheque for about 220,000 Sing dollars.

Unfortunately, that 220,000 has converted to as high as 227,000 Aus to as low as 202,000 aus in a space of just a few weeks.

(220,000.00 SGD = 206,837.05 AUD right now..)

This is a huge amount of money, and it's our house deposit - so what would you do? (Hypothetically of course!)

Wait a bit because the Aussie dollar might fall, or just cash the thing because it seems to be on the up.

I'd just hate to make the wrong decision..

Any hypothetical suggestions would be most welcome..

Thanks again.

 

[tayser]

SGD is quasi-pegged to USD so if AUD/USD falls (USD strengthens, AUD weakens), you'll get more AUD if you convert at that point.

I'm not a fundamental trader - and most people who visit this forum are attracted to technical trading of FX so you're not likely to get many hypotheticals.

FX is always an inherant risk when buying/selling property/other assets in another jurisdiction which really can't be avoided and no-one can offer a concrete crystal ball outlook on where currency pairs are headed.

 

[>Apocalypto<]

Cheers guys..

My wife is in Singapore selling a small flat, she'll be returning to Aus with a (Sing dollar) cheque for about 220,000 Sing dollars.

Unfortunately, that 220,000 has converted to as high as 227,000 Aus to as low as 202,000 aus in a space of just a few weeks.

(220,000.00 SGD = 206,837.05 AUD right now..)

This is a huge amount of money, and it's our house deposit - so what would you do? (Hypothetically of course!)

Wait a bit because the Aussie dollar might fall, or just cash the thing because it seems to be on the up.

I'd just hate to make the wrong decision..

Any hypothetical suggestions would be most welcome..

Thanks again.

You can take the option of waiting on the AUD to fall... that's if it does!

Another thing to think about is hedging your exposure. if you want to lock in the current rate you have now.

Fundermentals are tricky as you have to know the expected and the released.

In TA terms the overall trend from 08 is down. the PA shows similar situation to the AUD/USD a range/base formed showing support that lead to a rally (current) out of the base. the current rally is selling but on a now point of veiw the short to medium term is bullish. (that's from the charts now) till the pattern shows a change in thren it's a real 50/50 on the aud now going up further or back into the range. if the AUD finds support on the base high which is close to the 38.2 fib point and moves off it high prices could be expected. if the range high fails as support then the aud going back into the range is a good guess.

sorry mate right now a real 50/50

I have posted the Daily and Weekly charts.... 50/50 or so 50/50

Cheers

 

[Wazandy]

That's much appreciated mate.

Thanks for the time and effort.