1 00:00:00,520 --> 00:00:03,080 Speaker 1: Already and this is the daily This is the daily, 2 00:00:03,400 --> 00:00:04,040 Speaker 1: This is the daily. 3 00:00:04,120 --> 00:00:06,840 Speaker 2: Ohs oh, now it makes sense. 4 00:00:14,600 --> 00:00:16,920 Speaker 1: Good morning, and welcome to the Daily OS. It's Thursday, 5 00:00:16,960 --> 00:00:18,200 Speaker 1: the twenty ninth of January. 6 00:00:18,280 --> 00:00:20,680 Speaker 2: I'm Sam Keselowski, I'm Billy fitz Simons. 7 00:00:20,960 --> 00:00:24,040 Speaker 1: This week, the Australian dollar hit its highest level since 8 00:00:24,120 --> 00:00:28,440 Speaker 1: February twenty twenty three, surging to above seventy US since. 9 00:00:28,760 --> 00:00:31,319 Speaker 1: At the same time, the US dollar has collapsed to 10 00:00:31,560 --> 00:00:34,199 Speaker 1: a four year low. While that's good news if you're 11 00:00:34,200 --> 00:00:37,160 Speaker 1: planning a trip to America, it wasn't a good news 12 00:00:37,240 --> 00:00:40,479 Speaker 1: day yesterday for anyone with a mortgage, with new inflation 13 00:00:40,600 --> 00:00:44,160 Speaker 1: data pointing to a all but certain RBA rate rise 14 00:00:44,320 --> 00:00:47,320 Speaker 1: next week. So on today's podcast, Billy and I are 15 00:00:47,320 --> 00:00:49,879 Speaker 1: going to unpack why currencies around the world are on 16 00:00:49,920 --> 00:00:52,960 Speaker 1: the move, what's driving it, what's happening here at home 17 00:00:53,240 --> 00:00:55,640 Speaker 1: and weather. Now is indeed the time to book that 18 00:00:55,720 --> 00:01:00,360 Speaker 1: overseas holiday you've been thinking about. 19 00:01:01,360 --> 00:01:03,680 Speaker 2: So Sam, we're going to start by talking about the 20 00:01:03,720 --> 00:01:06,800 Speaker 2: Australian dollar. Yeah, and I want to go right back 21 00:01:06,880 --> 00:01:09,760 Speaker 2: to basics. This possibly is too basic, but I'm just 22 00:01:09,800 --> 00:01:12,399 Speaker 2: confirming that when we talk about the Australian dollar. We're 23 00:01:12,440 --> 00:01:16,600 Speaker 2: talking about how Australia's currency compares to other countries. 24 00:01:16,720 --> 00:01:20,199 Speaker 1: Yes, yes, and how much US money you can buy 25 00:01:20,240 --> 00:01:21,520 Speaker 1: with one Australian. 26 00:01:21,080 --> 00:01:22,920 Speaker 2: Dollar and it's specific to the US. 27 00:01:23,040 --> 00:01:25,080 Speaker 1: Yeah, we're going to talk about the US dollar. There's 28 00:01:25,080 --> 00:01:27,720 Speaker 1: also some really interesting stuff happening with the yen in 29 00:01:27,800 --> 00:01:30,759 Speaker 1: Japan and the euro, but let's focus on the US dollar. 30 00:01:30,800 --> 00:01:33,560 Speaker 1: It's the most influential currency in the world and the 31 00:01:33,560 --> 00:01:35,760 Speaker 1: one that has the most influence on the state of 32 00:01:35,760 --> 00:01:36,720 Speaker 1: the global economy. 33 00:01:36,880 --> 00:01:39,720 Speaker 2: Got it okay? And so what happened to the Australian 34 00:01:39,760 --> 00:01:40,680 Speaker 2: dollar this week? 35 00:01:40,800 --> 00:01:45,039 Speaker 1: Well, yesterday morning, the Aussie dollar hit this kind of 36 00:01:45,080 --> 00:01:48,520 Speaker 1: golden mark of seventy US cents. It tipped over that 37 00:01:48,560 --> 00:01:51,640 Speaker 1: mark for the first time since feb of twenty twenty three, 38 00:01:51,720 --> 00:01:54,320 Speaker 1: so that's nearly two years. And it was just back 39 00:01:54,360 --> 00:01:57,600 Speaker 1: in April of last year that it was at sixty cents, 40 00:01:57,840 --> 00:01:59,920 Speaker 1: which was a five year low. And that was just 41 00:02:00,120 --> 00:02:03,240 Speaker 1: after President Donald Trump got up and announced those Liberation 42 00:02:03,360 --> 00:02:06,040 Speaker 1: Day tariffs. And so I know that you like a 43 00:02:06,080 --> 00:02:08,040 Speaker 1: really tangible example for this kind of thing. 44 00:02:08,160 --> 00:02:09,960 Speaker 2: I love an analogy, you love it. 45 00:02:10,080 --> 00:02:12,280 Speaker 1: You also were recently in New York. 46 00:02:12,440 --> 00:02:15,000 Speaker 2: So I was thank you for mentioning it. I did 47 00:02:15,040 --> 00:02:17,560 Speaker 2: make it my entire personality for like three months after. 48 00:02:17,720 --> 00:02:21,040 Speaker 1: Yep, Billy Sex and the City, I love it. Why 49 00:02:21,040 --> 00:02:23,160 Speaker 1: don't we play this out with a billy example. Let's 50 00:02:23,160 --> 00:02:25,640 Speaker 1: say that you were buying a coffee at Starbucks when 51 00:02:25,680 --> 00:02:26,079 Speaker 1: you were there. 52 00:02:26,240 --> 00:02:28,919 Speaker 2: Yep, I did like more of a boutique cafe. 53 00:02:29,720 --> 00:02:34,040 Speaker 1: So no maca frockaos for you. Okay. So let's say 54 00:02:34,040 --> 00:02:36,400 Speaker 1: you're at this boutique cafe and a coffee is costing 55 00:02:36,400 --> 00:02:40,440 Speaker 1: you six US dollars. So today, that would mean that 56 00:02:40,480 --> 00:02:43,600 Speaker 1: it's costing you about eight dollars sixty Australian. But if 57 00:02:43,639 --> 00:02:47,200 Speaker 1: you bought that same coffee in April last year or 58 00:02:47,320 --> 00:02:49,600 Speaker 1: around when you were there, when the Australian dollar was 59 00:02:49,600 --> 00:02:52,519 Speaker 1: around sixty cents, it would cost you ten dollars. That's 60 00:02:52,520 --> 00:02:55,280 Speaker 1: the difference a dollar sixty on a six dollar US coffee. 61 00:02:55,520 --> 00:02:59,240 Speaker 2: Yeah, so I was there in August September and the 62 00:02:59,320 --> 00:03:01,160 Speaker 2: exchange did hurt. 63 00:03:01,360 --> 00:03:03,760 Speaker 1: Yeah, And I mean I gave you that coffee example. 64 00:03:03,800 --> 00:03:05,760 Speaker 1: But if you think about everything that you would spend 65 00:03:05,840 --> 00:03:07,880 Speaker 1: in a week in New York, a very expensive city. 66 00:03:07,960 --> 00:03:10,920 Speaker 1: Let's say it's two thousand US dollars today, that would 67 00:03:10,919 --> 00:03:14,040 Speaker 1: be twenty eight hundred Australian dollars. But if it was 68 00:03:14,080 --> 00:03:16,760 Speaker 1: a sixty cent exchange rate, that would be thirty three 69 00:03:16,840 --> 00:03:20,240 Speaker 1: hundred Australian dollars. So that's a meaningful difference, and it 70 00:03:20,320 --> 00:03:23,160 Speaker 1: is a meaningful difference for Australians looking to travel overseas. 71 00:03:23,240 --> 00:03:25,600 Speaker 1: It can really change the budget that they've got for 72 00:03:25,639 --> 00:03:26,000 Speaker 1: a trip. 73 00:03:26,520 --> 00:03:28,680 Speaker 2: Okay, so now would be a much better time to 74 00:03:28,760 --> 00:03:32,040 Speaker 2: go traveling to the US because of the Australian dollar 75 00:03:32,160 --> 00:03:34,720 Speaker 2: hitting this new high exactly, well, not a new high, 76 00:03:34,720 --> 00:03:36,520 Speaker 2: but a high in recent years, right. 77 00:03:36,480 --> 00:03:39,880 Speaker 1: Totally, it's kind of back to quite a healthy rate. 78 00:03:39,920 --> 00:03:43,920 Speaker 2: Right, And is that because people want to buy Australian 79 00:03:43,960 --> 00:03:47,960 Speaker 2: dollars or because they don't want to buy American dollars. 80 00:03:48,080 --> 00:03:50,320 Speaker 1: Yeah, this is very much a US story. It's very 81 00:03:50,400 --> 00:03:54,280 Speaker 1: much about people losing confidence in the US dollar. The 82 00:03:54,400 --> 00:03:57,000 Speaker 1: US dollar has lost around eight percent of its value 83 00:03:57,200 --> 00:03:59,240 Speaker 1: in the last couple of months. It's at a four 84 00:03:59,320 --> 00:04:01,560 Speaker 1: year low, and one of the big drivers for that 85 00:04:01,760 --> 00:04:05,200 Speaker 1: is some concern around the tariffs that continued to be announced, 86 00:04:05,400 --> 00:04:09,040 Speaker 1: walked back announced again by President Trump. There's also some 87 00:04:09,160 --> 00:04:14,680 Speaker 1: geopolitical uncertainty, particularly around Trump's comments about Greenland. And here's 88 00:04:14,680 --> 00:04:17,400 Speaker 1: something really interesting that happened in the last couple of days. 89 00:04:17,400 --> 00:04:20,400 Speaker 1: So Trump was actually asked if he was worried about 90 00:04:20,440 --> 00:04:23,920 Speaker 1: the US dollar falling, and he said he wasn't concerned 91 00:04:24,000 --> 00:04:27,760 Speaker 1: at all. He said to reporters in Iowa on Tuesday, 92 00:04:28,080 --> 00:04:30,320 Speaker 1: I think it's great. The dollar is doing just great. 93 00:04:30,480 --> 00:04:32,440 Speaker 1: He also said that he wants the dollar to just 94 00:04:32,480 --> 00:04:35,320 Speaker 1: seek its own level, which is the fair thing to do. 95 00:04:35,400 --> 00:04:38,880 Speaker 1: So he kind of is open to the market dictating 96 00:04:39,120 --> 00:04:42,919 Speaker 1: how valuable the US dollar is, and that in itself 97 00:04:43,240 --> 00:04:43,880 Speaker 1: was a bit weird. 98 00:04:44,240 --> 00:04:46,520 Speaker 2: Yeah, why would he not want to push for the 99 00:04:46,640 --> 00:04:47,800 Speaker 2: US dollar to be stronger? 100 00:04:48,160 --> 00:04:51,200 Speaker 1: Well, I think it was more about kind of what 101 00:04:51,440 --> 00:04:54,880 Speaker 1: looks like he's got control over or not. So he 102 00:04:54,960 --> 00:04:57,560 Speaker 1: said if he wanted to, he could have the US 103 00:04:57,640 --> 00:05:00,599 Speaker 1: dollar go up or down like a yo yo the quote, 104 00:05:00,880 --> 00:05:05,240 Speaker 1: and that, ironically further destabilized people's confidence about the US 105 00:05:05,320 --> 00:05:09,839 Speaker 1: dollar because countries aren't meant to directly intervene in the 106 00:05:09,960 --> 00:05:12,919 Speaker 1: value of a currency in a free market model like 107 00:05:13,000 --> 00:05:15,839 Speaker 1: the US. So I guess when you kind of simplify 108 00:05:15,880 --> 00:05:19,200 Speaker 1: it all down, it really is about do currency traders 109 00:05:19,200 --> 00:05:22,240 Speaker 1: think the US is stable? And we've talked so many 110 00:05:22,240 --> 00:05:24,680 Speaker 1: times on this pod, you and I about how stability 111 00:05:24,920 --> 00:05:28,279 Speaker 1: in economics is really the biggest driver of people wanting 112 00:05:28,279 --> 00:05:30,159 Speaker 1: to put their money there. And at the moment, I 113 00:05:30,160 --> 00:05:32,200 Speaker 1: think it's fair to say that there isn't really that 114 00:05:32,320 --> 00:05:35,360 Speaker 1: stability that the US is known for under this kind 115 00:05:35,440 --> 00:05:38,840 Speaker 1: of tariff slightly unpredictable president. 116 00:05:39,560 --> 00:05:42,920 Speaker 2: Okay, so the US dollar is falling, the Australian dollar 117 00:05:43,040 --> 00:05:47,279 Speaker 2: is rising. Is the Aussie dollar rising because people are 118 00:05:47,320 --> 00:05:50,520 Speaker 2: looking for other countries to put their money in? Is 119 00:05:50,560 --> 00:05:51,200 Speaker 2: that how it works? 120 00:05:51,320 --> 00:05:54,280 Speaker 1: Yeah, So currency trading is the main driver of the 121 00:05:54,279 --> 00:05:57,080 Speaker 1: movement of currency. You and I going traveling obviously has 122 00:05:57,120 --> 00:06:01,159 Speaker 1: impacts on our pocket, but currency traders can move currencies 123 00:06:01,240 --> 00:06:04,000 Speaker 1: overnight if they wanted to. There's such volume of money 124 00:06:04,200 --> 00:06:05,919 Speaker 1: changing hands, and that's. 125 00:06:05,880 --> 00:06:09,880 Speaker 2: People who are trading money between countries because they think 126 00:06:09,920 --> 00:06:12,240 Speaker 2: that they will be a rise or a full just 127 00:06:12,279 --> 00:06:13,560 Speaker 2: like the share market exactly. 128 00:06:13,600 --> 00:06:15,479 Speaker 1: They're aiming to buy it at sixty eight cents to 129 00:06:15,520 --> 00:06:17,880 Speaker 1: sell it seventy cents and they make two cents, and 130 00:06:17,920 --> 00:06:19,840 Speaker 1: they do it at such scale that they can make 131 00:06:19,839 --> 00:06:22,239 Speaker 1: a lot of money, and they like the Australian dollars 132 00:06:22,240 --> 00:06:25,840 Speaker 1: so much that it's almost outperformed every other major currency 133 00:06:26,000 --> 00:06:29,760 Speaker 1: in twenty twenty six. And that's because there's certain stability 134 00:06:29,760 --> 00:06:34,159 Speaker 1: factors that are associated with our economy. I mean, investors 135 00:06:34,160 --> 00:06:37,440 Speaker 1: are really attracted to how reliant our economy is on 136 00:06:37,880 --> 00:06:41,360 Speaker 1: minerals like iron, ore, copper, other precious metals, because they 137 00:06:41,400 --> 00:06:44,120 Speaker 1: know that demand for all of that is surging a lot, 138 00:06:44,240 --> 00:06:47,640 Speaker 1: particularly in China, and that means that the Australian dollar 139 00:06:47,680 --> 00:06:50,159 Speaker 1: and the Australian economy is a good place to look. 140 00:06:50,279 --> 00:06:53,880 Speaker 1: But the other really interesting part of why currency traders 141 00:06:54,040 --> 00:06:58,040 Speaker 1: like Australia is because we have relatively high interest rates 142 00:06:58,040 --> 00:07:00,800 Speaker 1: when you look at the whole world and how quickly 143 00:07:00,880 --> 00:07:04,760 Speaker 1: other countries drop interest rates. So the RBA, the Reserve 144 00:07:04,839 --> 00:07:08,120 Speaker 1: Bank of Australia, has historically kind of kept interest rates 145 00:07:08,720 --> 00:07:11,200 Speaker 1: high ish when compared to the rest of the world. 146 00:07:11,560 --> 00:07:14,360 Speaker 1: And that means that for traders who put their money 147 00:07:14,360 --> 00:07:17,440 Speaker 1: in Aussie assets and Australian government bonds and a bunch 148 00:07:17,480 --> 00:07:20,160 Speaker 1: of technical stuff, they can make that interest rate margin 149 00:07:20,400 --> 00:07:21,600 Speaker 1: as a bit of an extra. 150 00:07:21,680 --> 00:07:24,040 Speaker 2: I wanted to talk about the RBA because it's now 151 00:07:24,120 --> 00:07:26,560 Speaker 2: less than a week before they are due to make 152 00:07:26,600 --> 00:07:29,640 Speaker 2: their next decision on the cash rate. It will be 153 00:07:29,640 --> 00:07:31,680 Speaker 2: the first time they're making a decision on the cash 154 00:07:31,760 --> 00:07:34,520 Speaker 2: rate this year, whether they want to increase the cash rate, 155 00:07:34,800 --> 00:07:37,880 Speaker 2: keep it the same, or decrease it. My understanding is 156 00:07:37,880 --> 00:07:40,920 Speaker 2: that most experts are saying that they will actually increase it. 157 00:07:41,000 --> 00:07:43,960 Speaker 2: So you were just saying how Australia's interest rates are 158 00:07:44,040 --> 00:07:47,080 Speaker 2: quite high. Experts are saying that they could be making 159 00:07:47,120 --> 00:07:51,880 Speaker 2: it higher next week. And yesterday we got some information 160 00:07:51,960 --> 00:07:54,000 Speaker 2: about inflation. Tell us about that. 161 00:07:54,240 --> 00:07:58,360 Speaker 1: So yesterday the Australian Bureau of Statistics released their inflation 162 00:07:58,480 --> 00:08:01,560 Speaker 1: numbers and they looked at price between September and December 163 00:08:01,600 --> 00:08:03,960 Speaker 1: of last year, and they found that prices went up 164 00:08:03,960 --> 00:08:07,680 Speaker 1: almost one percent, and that means that the inflation overall, 165 00:08:07,720 --> 00:08:09,960 Speaker 1: when you look at the last twelve months, is at 166 00:08:09,960 --> 00:08:12,720 Speaker 1: three point eight percent, and that's quite a bit above 167 00:08:12,880 --> 00:08:15,200 Speaker 1: the two to three percent that the RBA would like. 168 00:08:15,280 --> 00:08:18,280 Speaker 1: That's their kind of target inflation band. So essentially, things 169 00:08:18,320 --> 00:08:21,280 Speaker 1: are growing in price here in Australia are quicker than 170 00:08:21,280 --> 00:08:22,160 Speaker 1: the RBA would like. 171 00:08:22,960 --> 00:08:26,240 Speaker 2: It's interesting because inflation going up can kind of mean 172 00:08:26,320 --> 00:08:28,640 Speaker 2: that the economy is actually quite strong but then it 173 00:08:28,680 --> 00:08:32,000 Speaker 2: means that the RBA needs to reel it in somehow. 174 00:08:32,520 --> 00:08:36,360 Speaker 2: Did it explain why inflation is a little bit higher 175 00:08:36,360 --> 00:08:36,839 Speaker 2: at the moment. 176 00:08:37,000 --> 00:08:39,680 Speaker 1: Yeah. I love when they break down what is actually 177 00:08:39,679 --> 00:08:43,360 Speaker 1: getting more expensive, and the big driver was housing. So 178 00:08:43,800 --> 00:08:46,880 Speaker 1: it's up five point five percent for the year. And 179 00:08:47,080 --> 00:08:50,560 Speaker 1: inside the bucket of housing is not only mortgages and 180 00:08:50,600 --> 00:08:53,800 Speaker 1: rent but it's also electricity that's up twenty one point 181 00:08:53,880 --> 00:08:56,400 Speaker 1: five percent, rents are up three point nine percent, and 182 00:08:56,480 --> 00:08:58,960 Speaker 1: new houses are up three percent. Now, one quick note 183 00:08:58,960 --> 00:09:01,400 Speaker 1: on that really crazy electricity number I just said of 184 00:09:01,400 --> 00:09:04,880 Speaker 1: twenty one point five percent, that's actually because it was 185 00:09:04,920 --> 00:09:08,120 Speaker 1: the end of some power subsidies in Queensland and Wa, 186 00:09:08,400 --> 00:09:11,080 Speaker 1: so those stopped and that meant that power bills in 187 00:09:11,120 --> 00:09:15,120 Speaker 1: those two states went up quite significantly. Now, away from housing, 188 00:09:15,480 --> 00:09:18,720 Speaker 1: holidays went up eight point two percent, and food and 189 00:09:18,800 --> 00:09:22,640 Speaker 1: non alcoholic beverages were up four percent. So in short, 190 00:09:22,920 --> 00:09:24,640 Speaker 1: everything is more expensive and. 191 00:09:24,559 --> 00:09:26,920 Speaker 2: That goes to the cost of living crisis that has 192 00:09:26,960 --> 00:09:30,120 Speaker 2: been leading the news cycle over the past few years, 193 00:09:30,200 --> 00:09:33,360 Speaker 2: especially in Australia. Yeah, if that does happen, if they 194 00:09:33,400 --> 00:09:36,600 Speaker 2: do increase the cash rate, it's kind of a double 195 00:09:36,679 --> 00:09:39,120 Speaker 2: edged sword. It can be good news for anyone who 196 00:09:39,160 --> 00:09:42,160 Speaker 2: has savings because the interest rate in their bank account 197 00:09:42,240 --> 00:09:43,240 Speaker 2: could also. 198 00:09:43,040 --> 00:09:45,680 Speaker 1: Increase if the banks pass it on, if the bank's. 199 00:09:45,440 --> 00:09:48,280 Speaker 2: Passed it on, But if anyone has a mortgage, then 200 00:09:48,559 --> 00:09:51,000 Speaker 2: it's not great news for them totally. 201 00:09:51,080 --> 00:09:53,839 Speaker 1: And I mean many of those experts are also saying 202 00:09:53,880 --> 00:09:57,000 Speaker 1: it might not just be the one rate rise next week. 203 00:09:57,040 --> 00:09:59,079 Speaker 1: There might be a couple of months in a row 204 00:09:59,320 --> 00:10:03,080 Speaker 1: that interest rates go up, and that won't be good 205 00:10:03,120 --> 00:10:06,480 Speaker 1: news not only for those Australians who have a mortgage, 206 00:10:06,480 --> 00:10:10,160 Speaker 1: but also I mean mortgage increases are often passed down 207 00:10:10,200 --> 00:10:13,840 Speaker 1: to renters as well, and it could lead to pressure 208 00:10:13,880 --> 00:10:17,560 Speaker 1: on certain businesses. And so it does reverberate around the economy. 209 00:10:18,000 --> 00:10:21,240 Speaker 1: And we've got this really strange dynamic in the economy 210 00:10:21,280 --> 00:10:24,960 Speaker 1: at the moment where overseas investors and people who are 211 00:10:24,960 --> 00:10:27,920 Speaker 1: looking at currency markets really think the Australian economy is 212 00:10:27,960 --> 00:10:30,120 Speaker 1: a good place to be. It's a very strong place 213 00:10:30,160 --> 00:10:33,400 Speaker 1: to be. And then you've got really rapidly rising cost 214 00:10:33,440 --> 00:10:35,480 Speaker 1: of living here, which is felt by some of the 215 00:10:35,480 --> 00:10:38,400 Speaker 1: most vulnerable parts of our society, low and middle income 216 00:10:38,480 --> 00:10:41,640 Speaker 1: earners who are spending those four or five percent extra 217 00:10:41,800 --> 00:10:45,480 Speaker 1: on food, fruit and veggies, or rent and together it's 218 00:10:45,480 --> 00:10:47,760 Speaker 1: a stronger economy that everyone wants to be in, but 219 00:10:48,040 --> 00:10:50,840 Speaker 1: being in it at such speed can be really difficult. 220 00:10:51,320 --> 00:10:53,920 Speaker 2: Okay, to wrap it all up somehow, to wrap up 221 00:10:53,960 --> 00:10:56,800 Speaker 2: all of these numbers together. It's a great time to 222 00:10:56,840 --> 00:10:59,160 Speaker 2: book an overseas trip. 223 00:10:58,880 --> 00:11:00,360 Speaker 1: If you've got the money to do so. 224 00:11:00,520 --> 00:11:06,000 Speaker 2: Exactly and hoping that the Aussie dollar stays strong. But 225 00:11:06,120 --> 00:11:08,240 Speaker 2: you might not be able to do that because prices 226 00:11:08,280 --> 00:11:11,679 Speaker 2: are rising so quickly hence the cost of living crisis. 227 00:11:12,160 --> 00:11:16,400 Speaker 2: And when the RBA puts up interest rates possibly next week, 228 00:11:16,480 --> 00:11:19,600 Speaker 2: that's absolutely not a certainty, but like I said, a 229 00:11:19,600 --> 00:11:23,160 Speaker 2: lot of experts are predicting that. Then many Australians will 230 00:11:23,320 --> 00:11:26,080 Speaker 2: really feel that because it means that the cost of 231 00:11:26,120 --> 00:11:29,640 Speaker 2: borrowing money will go up. That's my summary, that's my 232 00:11:29,720 --> 00:11:31,520 Speaker 2: inconclusion of this podcast. 233 00:11:31,120 --> 00:11:35,600 Speaker 1: And I think it's a really symbolic podcast on economic news. 234 00:11:35,640 --> 00:11:39,680 Speaker 1: I mean, the economy is all about the experts, the RBA, 235 00:11:39,960 --> 00:11:43,600 Speaker 1: the government, the international economy all trying to balance out 236 00:11:43,679 --> 00:11:48,040 Speaker 1: and finally balance always this c saw of supply and demand. 237 00:11:48,400 --> 00:11:51,960 Speaker 1: Who wants to have Aussie dollars versus it going up 238 00:11:52,000 --> 00:11:55,559 Speaker 1: too much all of that. It's diabolical and I'm glad 239 00:11:55,559 --> 00:11:56,400 Speaker 1: it's not our jobs. 240 00:11:57,240 --> 00:11:59,480 Speaker 2: Well, I'm glad it is your job to explain it 241 00:11:59,480 --> 00:12:01,440 Speaker 2: to us. Thank you for taking us through that. Thanks 242 00:12:01,840 --> 00:12:04,120 Speaker 2: and thank you so much for listening to this episode 243 00:12:04,200 --> 00:12:06,800 Speaker 2: of The Daily Os. If you would like to hear 244 00:12:06,960 --> 00:12:10,160 Speaker 2: more breakdowns of finance from the Daily Ods, we do 245 00:12:10,240 --> 00:12:14,280 Speaker 2: have a finance newsletter that we publish every single Wednesday. 246 00:12:14,440 --> 00:12:17,600 Speaker 2: I thank you. I will put a link to that 247 00:12:17,800 --> 00:12:20,120 Speaker 2: in the show notes if you do want to sign up, 248 00:12:20,360 --> 00:12:22,679 Speaker 2: We'll be back this afternoon with your evening headlines. But 249 00:12:22,800 --> 00:12:28,319 Speaker 2: until then, we hope you have a great day. 250 00:12:28,640 --> 00:12:30,920 Speaker 1: My name is Lily Madden and I'm a proud Arunda 251 00:12:31,160 --> 00:12:33,720 Speaker 1: Bungelung Calcuttin woman from Gadighl Country. 252 00:12:34,559 --> 00:12:37,679 Speaker 2: The Daily oz acknowledges that this podcast is recorded on 253 00:12:37,720 --> 00:12:40,240 Speaker 2: the lands of the Gadighl people and pays respect to 254 00:12:40,280 --> 00:12:43,600 Speaker 2: all Aboriginal and Torres Strait Island and nations. We pay 255 00:12:43,640 --> 00:12:46,560 Speaker 2: our respects to the first peoples of these countries, both 256 00:12:46,600 --> 00:12:47,520 Speaker 2: past and present.