2/28/2024 0 Comments 500 aud to usd![]() The accommodation provider eventually changed its platform from 31 August 2021 to clearly show prices in US dollars through the use of the abbreviation ‘USD’. But the website led many local consumers to see prices and incur charges in US dollars. The Airbnb platform was designed to display prices in Australian dollars for users accessing it in Australia unless they manually chose a different currency. The Federal Court found that Airbnb told these customers that they had chosen to view prices in USD, even though many users had not made that selection themselves. In total, more than 70,000 bookings were billed in USD.Īccording to the Australian Competition and Consumer Commission ( ACCC), Airbnb received more than 2,000 complaints from Aussie consumers about being charged in greenback during that time. The short-term accommodation provider acknowledged that during this period, it showed prices for Australian stays on its website with a dollar sign, without making it clear that meant US dollars.ĭuring that period, an Australian customer who believed they were paying AU$500 for a booking would have instead been slugged with almost AU$700 before conversion fees. DailyFX Limited is not responsible for any trading decisions taken by persons not intended to view this material.The Federal Court has ordered Airbnb to pay some 63,000 eligible consumers as much as $15 million in compensation as well as up to $15 million in fines after the company admitted to misleading Australians about the currency of accommodation prices for nearly four years.Īirbnb acknowledged that it made false or misleading representations to Australian users from January 2018 to August 2021, wrongly indicating that prices for Aussie accommodation were in Australian dollars when in reality these costs were in US dollars for tens of thousands of consumers. Any examples given are provided for illustrative purposes only and no representation is being made that any person will, or is likely to, achieve profits or losses similar to those examples. ![]() It is not a solicitation or a recommendation to trade derivatives contracts or securities and should not be construed or interpreted as financial advice. ![]() This information is made available for informational purposes only. Information presented by DailyFX Limited should be construed as market commentary, merely observing economical, political and market conditions. We recommend that you seek independent advice and ensure you fully understand the risks involved before trading. We advise you to carefully consider whether trading is appropriate for you based on your personal circumstances. Leveraged trading in foreign currency or off-exchange products on margin carries significant risk and may not be suitable for all investors. The combination of current sentiment and recent changes offers a stronger bearish contrarian trading bias. Upside exposure has increased by 8.11% and 35.77% over a daily and weekly basis respectively. The IGCS gauge implies that about 58% of retail traders are net long AUD/USD. S&P 500 Chart Created in Trading View Australian Dollar Sentiment Outlook - Bearish A push through the October 19th close could open the door to testing rising support from June. However, confirmation of the breakout is somewhat lacking. Recently, the S&P closed under a short-term rising trendline from the middle of September. ![]() S&P 500 futures may also be at risk to a turn lower in the near term. Recent changes in sentiment warn that the current price trend may soon reverse lower despite the fact traders remain netshort. Downside exposure has decreased by 3.19% and 16.18% over a daily and weekly basis respectively. The IGCS gauge implies that roughly 41% of retail investors are net long the S&P 500. Dow Jones Futures – Daily Chartĭow Jones Chart Created in Trading View S&P 500 Sentiment Outlook - Bearish A further close under the 28084 inflection point could open the door to testing rising support from June. That is because the Dow has taken out short-term rising support from the middle of September. Get My Guide Dow Jones Futures Technical Analysisĭow Jones futures could be readying for the next leg lower in the near term.
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