Black Monday

[Baa_Baa]

Oil ripping, NZD dipping. Fortunately, we're a post oil economy. It was our Nuclear Free moment. Felt so proud when we ditched our reliance on fossil fuels.

Which 'oil' are you looking at "ripping"?

[Bobdn]

What "oil" do you think I'm talking about? Cooking oil?

[causecelebre]

That’s the Govt just recapitalizing RBNZ after $10bio of losses due to the Bond purchases .
I thought they were paying $ 250 mio a month

Stealing from Peter to pay Paul. If only the govt hadn't made a debacle of their bond issuance and had performed a book build to determine the coupon.

[Daytr]

Oil ripping, NZD dipping. Fortunately, we're a post oil economy. It was our Nuclear Free moment. Felt so proud when we ditched our reliance on fossil fuels.

Are you seeing something I'm not?
The NZD has gained against the AUD.

[Bobdn]

Is oil priced in AUD? Serious question.

[causecelebre]

Oil ripping, NZD dipping. Fortunately, we're a post oil economy. It was our Nuclear Free moment. Felt so proud when we ditched our reliance on fossil fuels.

Wish I was rich enough to buy an EV.

[Bobdn]

Me too. Eventually we'll be forced too I guess.

[Baa_Baa]

What "oil" do you think I'm talking about? Cooking oil?

Brent, or Crude, or something else?

[winner69]

Might seem like a lot but all the NZD needs is another Andy Krieger moment...

That Andy guy is one of SailorRobs mates ….hey Rob sound him out about the NZD for us

[Bobdn]

Brent, or Crude, or something else?

Its pretty much all the same to me. I have a small amount in VDE (Vanguard's Energy ETF) and my two dividend funds are both 10 per cent energy each (VYM and VYMI).

Energy was the best sector overnight by a long way.

https://www.cnbc.com/2023/08/03/oil-...downgrade.html

"Oil prices gained about 2% on Thursday as Saudi Arabia and Russia took steps to keep supplies tight into September and possibly beyond.
Brent futures rose $1.94, or 2.3%, to settle at $85.14 a barrel, while U.S. West Texas Intermediate crude rose $2.06, or 2.6%, to settle at $81.55."