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We are, potentially, witnessing the slow demise of the US dollar as the world’s reserve currency as America stares down a debt crisis … and there’s an upside for Australians. My latest column, abc.net.au/news/2025-06-0…

This is from the NAB. It's a well-regarded survey on the health of Australian businesses. 'Overall, this survey highlights that business conditions remain weak amid ongoing profitability pressures and soft demand, with signs of a further softening in labour demand.'

THE AUSTRALIAN SHAREMARKET HAS SET A NEW ALL-TIME CLOSING HIGH

ABC journalist Lauren Day hit with tear gas on LA

An ABC camera operator has been struck in the chest in LA with what may have been a rubber or foam round, but was wearing a Kevlar vest at the time

The ASX has a price earnings ratio of 19. The average is around 14. NAB told us today biz conditions are ‘weak’. GDP per capita is negative. Productivity is negative. China & US are engaged in a bitter trade dispute. The sharemarket, imho, is in fantasy land.

THE US DOLLAR HAS JUST HIT ITS LOWEST LEVEL SINCE JAN 2022

UK economy contracted 0.3% month on month in April. The ONS said Trump’s tariffs had taken a toll on UK exports. Is Britain the canary in the coal mine for the global economy ?

The president of the United States has called chair of the federal reserve a ‘numbskull’. No words

Trump has the US dollar in a headlock and he’s not letting go. My latest piece for ABC News. abc.net.au/news/2025-06-1…

#BREAKING Iran’s state-run Nour News reports explosions were heard northeast of Iran's capital Tehran early on Friday. via ABC News

Never a dull moment. Global financial risk has just shifted. Australian dollar falling sharply.

Two words: oil price

Iran reportedly reviewing whether to close the Strait of Hormuz controlling access to the Gulf for tankers. This would be the worst-case economic scenario playing out if realised.

This is the feared economic chain reaction: Iran feels cornered—> closes straight of hormuz—>oil field attacked—>oil price climbs 20-30% —> global inflation spikes—> interest rate cuts abandoned—>unemployment rate climbs—>sharemarkets crumble

Trump says he wants “a real end” to Iran’s nuclear ambitions, according to a CBS reporter onboard Air Force One

Financial markets have NFI what’s going on in the Middle East

The Commonwealth Bank (ASX:CBA) has a P/E (Price to Earnings) ratio of 31.58. This means the market is valuing the company's earnings 6 to 12 months from now at 31 times its current earnings. 31 times.

Westpac says it expects 'the [RBA] Board to leave the cash rate unchanged at its July meeting..'

This is interesting