James Packer has signalled his family’s departure from its former media empire after 52 years, freeing up the future of Consolidated Media Holdings.
The Reserve Bank of Australia has been a rumoured buyer of Aussie dollars this week and the Japanese are also expected to intervene.
Given the state of European bank balance sheets and the poor technical picture, CIBC World Markets expects the euro to fall further.
National Australia Bank’s latest quarterly survey of business conditions shows no let up for the Australian economy.
Coca Cola Amatil was gazumped by Suntory in its bid to buy Frucor, but local brokers are little worried by the outcome.
With new production cuts, rising input costs and the industry in over-supply, brokers see few short-term catalysts for Alumina Ltd.
De-leveraging and lower oil prices should be good for the USD and in the shorter-term the yen, but not the Aussie, says Danske.
Fed meeting aside, bank reports and AGM forecasts will keep local traders busy and we’ll finally get the recession verdict from the US with the release of GDP data Thursday.
Mining stocks are falling and gold prices are coming back off again, but barely better than expected results from Newcrest has the brokers yelling Buy.
While much of the recent US dollar buying has been related to investors chasing safe havens other factors may see the run continue.
