Daily FNArena News

The previously bullish picture for the Aussie dollar is becoming more clouded with recent weakness in commodity prices, ANZ suggesting any correction would likely drag the Aussie dollar down as well.

The July reading for the Westpac-Melbourne Institute Index of Consumer Sentiment was down more than 6% as consumers continue to feel the pinch from higher petrol prices.

Danske Bank remains bullish on aluminium given the expectation China will soon switch to being a net importer of the metal and prices are currently close to the cost of production.

TradeTech has raised its weekly spot price indicator for uranium to US$60/lb, but above all investors are back, the consultant reports.

Could the earnings capacity of property drop by 27% in just six short weeks? Analysts are once again seething.

BIS Shrapnel’s “Mining in Australia, 2008-2023” report suggests strength in the sector will be enough to keep the Australian economy out of recession despite weakness elsewhere.

NAB’S latest monthly survey shows a sharp decline in Australian business conditions, with domestic demand growing slower than most in the market had forecast.

Danske Bank sees the threat of inflation as the biggest driver of forex markets in coming months as only a few central banks are suitably positioned to fight the threat with higher rates.

A poll by TV station Sky Business among experts in Australia has generated a range for oil price forecast by year end between US$100 and US$175 per barrel.

Westpac Bank suggests tough times will continue for Aussie retailers given a turnaround in the economy and the restrictions caused by high levels of interest rates and fuel prices.