Real-time thoughts & analysis of the markets, economy & more...
Co-founder & CEO of AllenWargent property market & hedge fund advisory.
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Pete Wargent blogspot
Co-founder & CEO of AllenWargent property advisory, 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.
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Wednesday, 15 May 2013
Good news as Aussie dollar hits 98.5 US cents
I think Francis Rossi and Rick Parfitt wrote a boogie rock song about this...
98.5 cents represents a key level of support for the Aussie currency, if it can just break out on the downside and with hopes of future US economic data improving, we might see it head some way lower yet.
Unfortunately, weak US manufacturing data for April saw the dollar bounce back to 98.9 cents.
Still, certainly sounds a lot healthier than 106.24 cents, doesn't it?
What would be really good to see would be US unemployment fall below 7.5% given the coming impact of the US Federal budget sequester through 2013...