Pete Wargent blogspot

Co-founder & CEO of AllenWargent property buyer's agents, offices in Brisbane (Riverside) & Sydney (Martin Place), and CEO of WargentAdvisory (providing subscription analysis, reports & services to institutional clients).

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.

Saturday, 3 January 2015

Lowest AUD Close Since 2009

AUD breaks new lows

A timely if not prescient blog post yesterday with the Australian dollar going on to break new lows with a close at just 80.8 US cents.

Having brushed 80.79 during the trade, this is the lowest close we have seen since 2009.

It has taken a while to play out but the entrenched downtrend remains in place.


Analysts expect that we could see 75 cents during 2015, which would please the Reserve Bank.

As ever with such trends there is the risk of an overshoot to the downside. 

During 2008 the Aussie dollar plummeted from well above 90 cents down close to 60 cents, so it can be a volatile beast.

---

Not a lot of drive to blog much else today.

Thoughts with friends and former work colleagues in the Adelaide Hills districts where bushfires have been burning out of control as temperatures soared to well above 40 degrees. 

Conditions have been reported as the worst since the tragic "Ash Wednesday" bushfires of 1983 when drought combined with hig temperatures and extreme high winds claimed dozens of lives.

Australians as always grateful to its amazing CFS volunteers and workers.