Daily FNArena News - Australia

Australian retail trade data for August came in above market expectations, leading economists to suggest the case for an RBA rate hike in November is strengthening.

The RBA’s target cash rate remains at 6.50%.

One of the more highly anticipated IPOs for the final quarter of 2007 is living up to expectations closing three weeks in advance and heavily oversubscribed.

Inflation in Australia remains at the top end of the RBA’s target zone of 2-3%, the monthly gauge by TD Securities and the Melbourne Institute suggests.

Housing affordability in Australia will continue to fall according to Commonwealth Bank thanks to a combination of insufficient supply and people’s desire for larger houses.

After much anticipation BHP upgraded its Olympic Dam total ore resource by 75%, but its 2P resource by only 7%.

News Sims Group will merge with Metal Management in the US has not changed the broking community’s mixed opinion on the stock, some arguing it is overvalued while others see further upside.

If we need an interest rate rise this year we’ll have one. That seems to be the message from a dismissive RBA financial stability report.

The upcoming float of China Yunnan Copper Australia offers investors a chance to share the exploration ride with Yunnan Copper Industry, China’s third largest copper producer.

Global money markets seem to improve this week with the RBA withdrawing cash in a clear token of central bankers’ confidence. RAMS shares have recovered to $0.80.