Pete Wargent blogspot
Co-founder & CEO of AllenWargent property advisory & buyer's agents, offices in Brisbane (Riverside) & Sydney (Martin Place) - clients include hedge funds, resi funds, & private investors.
4 x finance/investment author - 'Get a Financial Grip: a simple plan for financial freedom’ (2012) rated Top 10 finance books by Money Magazine & Dymocks.
"Unfortunately so much commentary is self-serving or sensationalist. Pete Wargent shines through with his clear, sober & dispassionate analysis of the housing market, which is so valuable. Pete drills into the facts & unlocks the details that others gloss over in their rush to get a headline. On housing Pete is a must read, must follow - he is one of the better property analysts in Australia" - Stephen Koukoulas, MD of Market Economics, former Senior Economics Adviser to Prime Minister Gillard.
"Pete Wargent is one of Australia's brightest financial minds - a must-follow for articulate, accurate & in-depth analysis." - David Scutt, Business Insider, leading Australian market analyst.
"I've been investing for over 40 years & read nearly every investment book ever written yet I still learned new concepts in his books. Pete Wargent is one of Australia's finest young financial commentators." - Michael Yardney, Australia's leading property expert, Amazon #1 best-selling author.
"The most knowledgeable person on Aussie real estate markets - Pete's work is great, loads of good data and charts, the most comprehensive analyst I follow in Australia. If you follow Australia, follow Pete Wargent" - Jonathan Tepper, Variant Perception, Global Macroeconomic Research, and author of the New York Times bestsellers 'End Game' and 'Code Red'.
"Pete's daily analysis is unputdownable" - Dr. Chris Caton, Chief Economist, BT Financial.
Invest in Sydney/Brisbane property markets, or for media/public speaking requests, email email@example.com
Thursday, 16 May 2013
AUD crashes through support
Outstanding action on the currency markets today. I mentioned the key support at 98.5 cents...we smashed through it this afternoon's trading all the way down to 98.05 cents. This will be helpful for Australia's economy, althought it naturally may introduce a risk of inflation. Still, it's good to see!
The next key data for Australia will be released here in two weeks time on May 30: the capex expenditure and expected new expenditure report from the ABS.
Remember that Australia has benefited from an unprecedented boom in mining capital expenditure. Are we about to start the great decline, and if so will the rest of the economy be able to step up to the plate at last?
Jobs growth has been patchily promising but other construction has not to date. Not long to go now before D-Day it seems, so time is running short...
If this data set prints weak then interest rates will be heading to new lows of 2.50% and below (and they may well be anyway).