• Brexit causes $50b in shares lost, AUD slumps
    44 replies, posted
[QUOTE][B]The Australian dollar has tanked and more than $50 billion in shares has been wiped out on the local market after results showed Britain choosing to leave the European Union.[/B] [URL="http://www.abc.net.au/news/2016-06-24/brexit:-britain-to-leave-european-union-after-referendum/7541484"]Results were showing a 4 per cent margin for the Leave camp[/URL]. Investors fled in droves after the news, with the ASX 200 extending losses to drop 3.5 per cent to around two-and-a-half-month lows of 5,095 while the All Ords slumped 3.3 per cent to 5,184. The Australian dollar lost 3.4 per cent to 73.4 US cents. The market earlier started to sell off when the Leave campaign overtook Remain, indicating high volatility as investors face uncertainty. Every sector on the local market was in the red, except for gold companies as investors eyed the safe haven metal. All the big four banks sank by more than 2 per cent, while blue chip miners BHP Billiton and Rio Tinto slumped 4.6 per cent and 3.8 per cent respectively. Gold miners Newcrest Mining and Regis Resources gained 3.7 per cent and 4.6 per cent respectively as gold jumped 8 per cent. Asian markets also tumbled as they opened for trade, with China's Shanghai Composite dumping 1.2 per cent to 2,857.6, while in Japan, the Nikkei briefly halted after dumping 7.6 per cent to 15,007.3[B].[/B] Asian currencies suffered on worries investors would pull funds from emerging markets.[/QUOTE] [url]http://www.abc.net.au/news/2016-06-24/brexit-sees-british-pound-slump-aussie-dollar-follow/7540150[/url] FUCK
And just as I'm about to head to the states.
This has caught many investors by surprise and as a result the entire global market has dived. The UK especially has dug themselves a pretty big hole. I also heard that the Pound Sterling is at its lowest value since 1985.
for fuck's sake the AUD was recovering
I want to see how this affects Rio now.
This is a messier pull out then the one I had last night....
[QUOTE=Tudd;50582499]This is a messier pull out then the one I had last night....[/QUOTE] Did it leave as many people disappointed?
This is gonna inflate the USD even more isn't it, to the point that it's killing US businesses
[QUOTE=Tudd;50582499]This is a messier pull out then the one I had last night....[/QUOTE][QUOTE=Thlis;50582524]Did it leave as many people disappointed?[/QUOTE]Holy fuck lmao I burst out laughing and scared my dog I hope you're happy. :v:
I hope Aud Keeps crashing, makes me richer.
[QUOTE=Sableye;50582538]This is gonna inflate the USD even more isn't it, to the point that it's killing US businesses[/QUOTE]... How? Our dollar is going [I]up[/I] right now, I'm watching it fluctuate around +2.65% and it's doing that independently of other currencies falling. Were this to continue past tomorrow it's likely our businesses are going to do great, they might even start gobbling up foreign companies if it goes on long enough. It's too early to say what will happen, but I'm not sure the US dollar is going to fall very hard. [editline]24th June 2016[/editline] Oh shit it's falling, I fucking jinxed us you guys D: [editline]24th June 2016[/editline] Oh nevermind it's going back up. Another victory for freedom and democracy. [img]https://facepunch.com/fp/flags/us.png[/img]
[QUOTE=Evanstr;50582557]I hope Aud Keeps crashing, makes me richer.[/QUOTE] I don't understand currency conversion well, how does an Australian get richer in a situation where the Australian Dollar's value is dropping?
[QUOTE=SlickBlade;50582585]I don't understand currency conversion well, how does an Australian get richer in a situation where the Australian Dollar's value is dropping?[/QUOTE] By increased exports
[QUOTE=SlickBlade;50582585]I don't understand currency conversion well, how does an Australian get richer in a situation where the Australian Dollar's value is dropping?[/QUOTE] I Make my cash in USD
Shock Horror I'm genuinely seething with anger right now.
[QUOTE=Evanstr;50582633]I Make my cash in USD[/QUOTE]Now/soon would be the best time to invest, the USD is at +2.86% right now as I type this so if you had your eye on Australian companies with interesting stocks I think the time to buy might be coming soon.
[QUOTE=Evanstr;50582557]I hope Aud Keeps crashing, makes me richer.[/QUOTE] You are a real piece of work
[QUOTE=fruxodaily;50582689]You are a real piece of work[/QUOTE] Well when you sell a game on steam you are sorta forced to accept the USD income so yes? And low dollar for Australia actually makes Australia more money... Because people buy more of our stuff because its cheaper meaning more sales = more jobs. Gee If our economy keeps collapsing It would have been handy to have a surplus.
Yes but a weaker AUD isn't good for the general Australian public Great that you get paid in USD but not everyone gets paid in a different currency I work for the Aussie dollar, so does my parents, if it can't buy shit then it's absolutely fucking useless
I'm a bit worried for lil' New Zealand.
I've never been good with currency or stocks, is this good or bad for aussies?
[QUOTE=HyperTails;50582848]I've never been good with currency or stocks, is this good or bad for aussies?[/QUOTE] its yet another raw deal for oz gg cameron wp
[QUOTE=Evanstr;50582633]I Make my cash in USD[/QUOTE] So do I, but you're being a dick and you're only half right.
[QUOTE=Evanstr;50582557]I hope Aud Keeps crashing, makes me richer.[/QUOTE] "Fuck everyone else cus it makes me richer!"
Wow XE has been ddosed by people trying to find out how fucked their currency is. Taking minutes for pages to load.
[QUOTE=helifreak;50583046]Wow XE has been ddosed by people trying to find out how fucked their currency is. Taking minutes for pages to load.[/QUOTE] [url]https://www.dailyfx.com/aud-usd[/url]
Guess I won't be buying anything for a while, thanks guys.
Fear not, we're all suffering because people with a low IQ and the older generation, who failed to put economics, welfare and solidarity with other human beings before wanting "Britain to be Britain again." Hurray.
NZ and AUS are fine in the long run as we basically get moved to the front of trading along with Canada etc.
[QUOTE=JumpinJackFlash;50582567]... How? Our dollar is going [I]up[/I] right now, I'm watching it fluctuate around +2.65% and it's doing that independently of other currencies falling. Were this to continue past tomorrow it's likely our businesses are going to do great, they might even start gobbling up foreign companies if it goes on long enough. It's too early to say what will happen, but I'm not sure the US dollar is going to fall very hard. [editline]24th June 2016[/editline] Oh shit it's falling, I fucking jinxed us you guys D: [editline]24th June 2016[/editline] Oh nevermind it's going back up. Another victory for freedom and democracy. [img]https://facepunch.com/fp/flags/us.png[/img][/QUOTE] :terrists: god bless america
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