Daily FNArena News

Global food prices are rising and the trend is likely to continue according to ANZ Bank, with less land, climate change and increased use of biofuels all contributing factors.

CommSec has found almost perfect correlation between Australian and Canadian shares since 2003, so the recent rally in Australian equities may signal relative underperformance ahead.

CPI numbers are in for Europe, the UK and US this week amidst a wealth of US data but very little locally.

The Dow put on 78 points as retail sales surprised and M&A came back.

The world’s second largest central bank holder of gold bullion is not in a selling mood just yet.

Both friends and foe are turning into US dollar bears post the Fed rate cut from last month. All of a sudden the Aussie at parity doesn’t seem so far off anymore.

Westpac economists have lifted their expectations for the RBA cash rate to reach 7% by mid-2008 at the latest.

Higher household disposable incomes are supporting strong retail trade numbers, though ANZ Bank estimates the September quarter was likely the peak.

The Dow fell 248 points from its high to its low last night, finally settling down 63, as a tech sell-off revealed growing nervousness.

Precious metals specialists at UniCredit believe spot gold can reach as high as US$1400/oz on a 3 to 5 years horizon.