Daily FNArena News - FYI

The IMF is rapidly losing all sense of credibility and the G7 finance ministers failed to even mention the US dollar in their statement following last weekend’s meeting.

The RBA will meet on Cup day to decide upon what many feel will be a rate rise. The clincher will be the CPI data released on Wednesday this week.

On the 20th anniversary of the crash of 1987, the Dow celebrated with a 367 point fall.

Stock markets again closed little changed last night as poor employment data sent the US dollar south.

The IMF has downgraded its forecast for 2008 global GDP growth, but not by much.

According to the Commonwealth Bank housing prices provide a good indicator for interest rate movements as increases mean increased wealth, which spurs consumer spending.

There’s only one way to describe Wall Street last night – all over the shop.

Weekly musings from your editor. It’s iron ore we look into this week as the market craze seems to have matured.

US regional bank earnings reports reflected ongoing credit market concerns last night as oil pushed ever upward.

The Dow fell over 100 points last night as Wall Street was reminded the credit crunch hasn’t gone away. Global tensions drove oil higher.