Daily FNArena News - Australia

The Aussie dollar has been slammed in recent weeks, but Westpac expects a recovery against the US dollar into 2009.

The RBA quarterly statement by no means suggests a 50 point cut is forthcoming. In fact, it doesn’t even suggest 25 is coming soon.

Higher sulphur costs have seen Minara’s earnings fall and as UBS notes additional funding will likely be required, which suggests little share price upside in the medium-term.

The market had begun pricing in a September rate cut but July jobs data makes such an outcome unlikely according to economists.

Analysts see plenty of upside in Asciano post result, but there are still a lot of questions.

Westpac has conceded more provisions will be necessary as stressed loans are on the increase. Today’s operational update doesn’t contain too many details though.

ResMed delivered solid revenue growth in the June quarter and this is seen as a sign the company is set for better times.

Following yesterday’s RBA statement, the rush is on amongst economists to completely rethink their interest rate forecasts.

A solid result from Navitas shows not all companies need be frightened of the bear.

In its statement accompanying the unchanged rate decision, the RBA has given the first sign it can see a policy easing ahead.