Share on Facebook Share on Twitter Share on Reddit + - Australian dollar falls into 75s as wages miss By Houses and Holes in Australian dollarat 11:38 am on November 15, 2017 | 23 comments Oh dear: 0.5% versus 0.7% expected. No minimum wage lift there. More to come. Meanwhile, go you good thing: Share on Facebook Share on Twitter Share on Reddit + - YOU MAY ALSO BE INTERESTED INAustralian dollar sinks on trade war accelerationAUD gapped lower this morning and has held theMarkets plunge into huge Australian dollar shortDXY recovered Friday night. CNY and EUR2016 redux as EM bounce lifts Australian dollarDXY fell sharply last night. EUR lifted, CNY wasMB Fund Podcast: Australian dollar reflation?Enjoy the latest MB Fund podcast recorded live Comments fuji66 November 15, 2017 at 11:48 am I’ll be happier when it starts with a 5 handle 🙂 Houses and HolesMEMBER November 15, 2017 at 11:51 am Give it time! mdseeMEMBER November 15, 2017 at 11:54 am I was thinking a 3 Kyle November 15, 2017 at 12:00 pm Jeez that would be a boom for my btc investment, heres to hoping, didrakebMEMBER November 15, 2017 at 12:25 pm better buy my amazon crap now then StephenMEMBER November 15, 2017 at 12:00 pm Rates ain’t going down. J BauerMEMBER November 15, 2017 at 12:24 pm Where’s the next major support level? BrentonMEMBER November 15, 2017 at 12:27 pm Mr Becker had it at 73.50 this morning cambro November 15, 2017 at 12:39 pm Wages aren’t rising because any Australian company who employs expensive locals over foreigners is wasting money. Many companies have realized what good value 457 immigrants are. Simply put, It is much cheaper to employ immigrants. The company I work at (big IT co.) replaces anyone who resigns or falls pregnant with someone on a 457 visa. They cost around 60% of the person they replaced, don’t demand any training, and we can work them harder and for longer hours because of the threat of revoking their visa. All you need is a smart immigration lawyer to handle the paperwork. BrentonMEMBER November 15, 2017 at 12:47 pm My own anecdotal input says that dodgy Student visas, carers visas, etc are an even greater strain on wage inflation. 457 visa workers still technically adhere to red tape, the other visa holders are working in the cash economy for a fraction of minimum wage. UrbanWastelandMEMBER November 15, 2017 at 7:01 pm Exactly Brenton. Interns are the best – they work for free! Pieter November 15, 2017 at 9:23 pm When USD/AUD hits 0.4 in a few years the 457 ones here will have a rethink about their future and the ones on the way will stop coming. GeordieMEMBER November 15, 2017 at 12:57 pm How much stress is a materially lower dollar going to have on banks offshore funding? No doubt they’ve curtailed their borrowings in recent times to assist in offsetting this, but still… it’s no small amount of money, margins are slim, and we’re mortgaged to the eyeballs…. George Berkeley November 15, 2017 at 2:54 pm The banks will be protected. Graph was put up the other day showing how important they are to our economy – they represent almost a third. That is a catastrophic imbalance. As a result – not only will their positions be protected, but so will their profits. Despite the economic theory pointing to a rate cut, the political reality points to a rate hike – banks profits will be protected as they are going to be in the UK. People are looking to Canada for a test case on Australia – look to the UK instead – horrific Torries running austerity and spite campaigns instead of governance and look at Brexit as the China pull back / slow down. Fun times are coming. MichaelMEMBER November 15, 2017 at 1:00 pm Heard our payrise and bonus budget got slashed at the 11th hour despite a record year. I’m protesting by procrastinating on MB! GavinMEMBER November 15, 2017 at 1:27 pm Same here mate… J BauerMEMBER November 15, 2017 at 1:34 pm Which industry are you in? I’ve been on a MB go slow for years! MichaelMEMBER November 15, 2017 at 2:05 pm Fund management. What I expect will happen is that average performers will suffer the most, and high performers wont be impacted. GeordieMEMBER November 15, 2017 at 2:04 pm Post record company profit. Hold wages and push efficiency gains via redundancy. It’s the Australian way. mMEMBER November 15, 2017 at 1:03 pm This can only be good for bitcoin. Hill Billy 55MEMBER November 15, 2017 at 4:06 pm Will this be factored into the MYEFO coming up? If it is, then the AAA rating is definitely gone – it should be anyway. Jumping jack flash November 16, 2017 at 12:08 pm How they can slap a AAA on our debt machine economy is beyond me. Someone is doing some smooth talking, but on the other hand, maybe everyone on earth is playing the same tune? “Oh so in Australia you have debt creating debt, supporting debt? That’s the business! No problems down there. Here, take our money”. The_Mainlander November 15, 2017 at 10:52 pm I give up. Down down down. Buy USD!