Daily FNArena News

As the oil price fell back below US$60/bbl the Dow closed at a record high and the bottom fell out of the gold market.

Morgan Stanley suggests it isn’t the carry trade keeping a lid on the yen, but eventually fundamentals will win out and the currency should strengthen.

China’s Purchasing Manufacturers Index outcome for September suggests a slowing in the economy and a greater exposure to external markets.

HSBC has cut its forecasts for Asian economic growth due to predictions of a sharper than expected slowdown in the US economy in the next 12 months.

Steel industry consultant MEPS suggests there is a risk the stainless steel market will overheat in coming months as high nickel prices continue to drive up alloy surcharges.

ANZ Bank notes the Australian retail sector is coping well with higher interest rates and fuel prices and it expects solid performance to continue.

A summary of the Resource Capital Research quarterly uranium sector review.

Inflationary price pressures seem to have eased a little, but remain above the top end of the RBA’s target range according to the TD Securities/Melbourne Institute Monthly Inflation Gauge for September.

Intersuisse sees short-term upside in the WorleyParsons share price, viewing the stock as oversold given its strong earnings outlook in coming years.

Financial market participants have not been impressed by Shinzo Abe’s first cabinet, though there is no change to the positive outlook for Japan’s economy.