Australian dollar

The big four banks led the way with CBA advancing 1.3%, while interest rate sensitive sectors such as consumer discretionary and real estate added 1.9% and 2.9% respectively.

Yeah, and the Aussie market may be helped by a generally positive night on Wall Street.

Investors await the results from the US midterm elections.

Semiconductor stocks still also did rebound from some recent weakness.

Iron ore futures, meanwhile, edged lower, down 0.2% to just above US$91 a tonne.

And having a look at currencies here, well, most currencies globally were modestly weaker against the US dollar.

The Aussie dollar has also fallen even after the RBA lifted rates.

Of course, those hints that there could be a pause in rate hikes moving forward.

And the US 2-year, 4.577, down 1.3 basis points.

The Aussie 10 easing 3.9 basis points to 5.098. Of course, we do get the RBA today, and it is widely expected to see the RBA raise rates.

I think it's the fifth time They will raise rates this year, another 25 basis points.

Over in Asian markets yesterday, China up 1.9%.

Unemployment still at lows, helped by the AI boom, of course.

All right, well, let's switch our attention to commodities and the gold price.

In Aussie dollar terms, 56.40.

So that's slightly better.

It's one of the way interest rates works.

um it does through a number of channels um it's not just mortgage holders taking money out of their pockets um it's also the exchange rate you probably noticed during the course of this year uh we started with the australian dollar at about 60 cents us it's now heading to 71. so it's also driven now that imports deflation as imports gets cheaper so there's a number of effects in interest rates it's not just on mortgage holders but It's got a few channels of delivery.

It encourages people to save rather than spend.

So it is a blunt instrument, but it's got a number of ways that it affects domestic demand, and that's the whole name of the game here.

Alas, no, it wouldn't.

Nor if we...

Well, as you know, the Australian dollar is priced against...

Well, relative to the US dollar, that's how we measure it, but it is actually measured against a basket of other currencies...

Vish, I'd love to kick off.

You shared just before we went live just some news that you've just come across regarding The Aussie banks, they're at it again.

And Westpac, of course, they're dictating to their customers as to how much Bitcoin they can buy.

Do you want to just speak to this a little bit, mate, about where this is all going?

the Australian

banks, Zane, the gift that keeps on giving.

Thank you so much, Aussie banks, for being a pack of imbeciles of the highest order.

Westpac is the same group that just this year paid a $26 million fine for not respecting their financial hardship policy and charging fees and all kinds of manner of costs to people who are experiencing genuine financial hardship.

Higher interest rates are good for the currency markets, right, or the particular currency markets.

So if there's going to be a higher interest rate here, the Australian dollar would typically rise.

What we've seen recently is that the US didn't lift interest rates.

The other market that didn't lift interest rates yesterday was New Zealand, even though a lot of the market expected there to be a rate rise.

And now since then, we've seen the Australian dollar reach a 13-year high against the NZD.

And what's that all about? Tell us more.

And does it mean it's a good time to go across the ditch?