Daily FNArena News - FYI

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.

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.

While much of the recent US dollar buying has been related to investors chasing safe havens other factors may see the run continue.

The Dow closed up 172 points in a late buying rush after in yet another volatile session.

The Argentine government shocked the world last night by announcing plans to sieze public pension funds, sparking fears of another default.

Weekly musings by your editor. FNArena will be at the Trading & Investing Expo in Sydney later this week. We’ll be launching our newest initiative.

The world’s major economies are faltering, but Caterpillar chugs on as the rest of the world fills the gaps. Should investors share management’s optimism?

The Dow closed down 231 points last night in its three steps forward, two steps back process.