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poet13
Joined: 22 Jan 2006
Location: Just over there....throwing lemons.
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 Posted: Sat Mar 14, 2009 11:03 pm Post subject: |
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During the rest of the week a lot more financial reporting is coming out. It might not hit the markets too badly, because everyone is already expecting bad news. If it's not as bad as expected, then it's a positive. Either way, hoping for a stronger Won this week.
Curious though what would define a trend as opposed to just a few good days. |
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marlow
Joined: 06 Feb 2005
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| Posted: Sun Mar 15, 2009 4:12 am Post subject: |
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| poet13 wrote: |
| Curious though what would define a trend as opposed to just a few good days. |
Small steady gains over a few months would make a trend. Hitting 1100 gradually would be good. |
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JFuller317
Joined: 10 Oct 2008
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| Posted: Sun Mar 15, 2009 9:28 pm Post subject: |
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When I checked the rate this afternoon, I was ready to see 1530 or so, but much to my surprise, the won is actually maintaining its gains from last week and even improving slightly.
Back in December and January, the won got down under 1300, but I didn't send anything home because I was holding out for <1200. That was a big mistake that I don't want to repeat. If the won gets down under 1450, I'm thinking of sending money home, but I'd like to hold out for <1400. I don't want to get burned if the won falls off another cliff a week later though. |
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poet13
Joined: 22 Jan 2006
Location: Just over there....throwing lemons.
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| Posted: Mon Mar 16, 2009 12:04 am Post subject: |
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I think tomorrow morning is a big make or break. The US markets data will be released, and I think the confidence in the Won will be measured by that. With good (or not unexpectedly bad) news, I'm looking for a sub 1370 won. If it's bad, my wife will be waiting for the bank to open. Buying F/C, we'll still scoop about 50 won/dollar cause we bought at 1500, and 1505.
Fun times. |
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JFuller317
Joined: 10 Oct 2008
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| Posted: Mon Mar 16, 2009 1:10 am Post subject: |
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| I tried to send money home today at around 1450, but the guy at KB wouldn't let me do it because I didn't have my passport (this would have been my first time ever sending money home). If the rate shoots back up tomorrow I'm going to f*cking lose it. |
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VanIslander
Joined: 18 Aug 2003
Location: Geoje, Hadong, Tongyeong,... now in a small coastal island town outside Gyeongsangnamdo!
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| Posted: Mon Mar 16, 2009 1:40 am Post subject: |
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I have savings in won and in dollars.
If the won tanks majorly (gets past 1700) I'll be tempted to sell my dollars and look at teaching here a few more years for sure; if the won strengthens to 1100 I'll be very tempted to go back to grad school instead. |
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sobriquet
Joined: 16 Feb 2007
Location: Nakatomi Plaza
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| Posted: Mon Mar 16, 2009 1:58 am Post subject: |
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| JFuller317 wrote: |
| I tried to send money home today at around 1450, but the guy at KB wouldn't let me do it because I didn't have my passport (this would have been my first time ever sending money home). If the rate shoots back up tomorrow I'm going to f*cking lose it. |
Are you sure you don't need your mommy here to hold your hand? |
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Tobias
Joined: 02 Jun 2008
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| Posted: Mon Mar 16, 2009 2:08 am Post subject: |
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| JFuller317 wrote: |
| ... If the rate shoots back up tomorrow I'm going to f*cking lose it. |
I heard the won is headed to 11 TRILLION to 1 by later today. |
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JFuller317
Joined: 10 Oct 2008
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| Posted: Mon Mar 16, 2009 4:07 pm Post subject: |
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| poet13 wrote: |
I think tomorrow morning is a big make or break. The US markets data will be released, and I think the confidence in the Won will be measured by that. With good (or not unexpectedly bad) news, I'm looking for a sub 1370 won. If it's bad, my wife will be waiting for the bank to open. Buying F/C, we'll still scoop about 50 won/dollar cause we bought at 1500, and 1505.
Fun times. |
None of the financial news I'm seeing today looks very good, but it doesn't look too terrible. U.S. stocks declined a bit, but not a whole lot. |
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michaelambling
Joined: 31 Dec 2008
Location: Paradise
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| Posted: Mon Mar 16, 2009 5:02 pm Post subject: |
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Won is beginning its recover; I think the hysteria of the economic crisis is over, we've hit rock bottom, and things are going to go back to normal very gradually.
In finance, there is no greater weapon than patience. |
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JFuller317
Joined: 10 Oct 2008
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| Posted: Mon Mar 16, 2009 5:44 pm Post subject: |
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| michaelambling wrote: |
Won is beginning its recover; I think the hysteria of the economic crisis is over, we've hit rock bottom, and things are going to go back to normal very gradually.
In finance, there is no greater weapon than patience. |
First quarter retail numbers could (and most likely will) be terrible, which might cause another downturn when they're released. |
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xCustomx
Joined: 06 Jan 2006
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| Posted: Mon Mar 16, 2009 5:50 pm Post subject: |
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| Korean gov't officials are predicting that the won will approach 1100 sometime during the 2nd half of this year. Speculation doesn't mean much though |
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JFuller317
Joined: 10 Oct 2008
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| Posted: Mon Mar 16, 2009 6:05 pm Post subject: |
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| xCustomx wrote: |
| Korean gov't officials are predicting that the won will approach 1100 sometime during the 2nd half of this year. Speculation doesn't mean much though |
Remember that projection from December that had the won under 1300 by March and around 1100 by June? |
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michaelambling
Joined: 31 Dec 2008
Location: Paradise
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| Posted: Mon Mar 16, 2009 6:43 pm Post subject: |
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| JFuller317 wrote: |
| michaelambling wrote: |
Won is beginning its recover; I think the hysteria of the economic crisis is over, we've hit rock bottom, and things are going to go back to normal very gradually.
In finance, there is no greater weapon than patience. |
First quarter retail numbers could (and most likely will) be terrible, which might cause another downturn when they're released. |
Expectations are so low that the retail numbers will be considered "not as bad as expected", no matter what they are. People are starting to think about bargains in the marketplace--now is a good time to invest, since costs are so low, deflation is rampant, etc. This will stimulate things in America and, as a result, in Asia, causing the dollar to weaken as money is re-invested in securities, commodities, funds, etc.
Economics is easy. |
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xCustomx
Joined: 06 Jan 2006
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| Posted: Mon Mar 16, 2009 6:47 pm Post subject: |
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| JFuller317 wrote: |
| xCustomx wrote: |
| Korean gov't officials are predicting that the won will approach 1100 sometime during the 2nd half of this year. Speculation doesn't mean much though |
Remember that projection from December that had the won under 1300 by March and around 1100 by June? |
Well, if the won continues on its recent roll, it might approach 1300 by the end of this month. It's gone from 1600 to almost 1420 in just a week and a half. If it gets close to 1200 then I'm going to cash out and get outta here |
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