Daily FNArena News - FYI

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.

ANZ Bank notes the appetite for risk is returning to global markets as credit spreads narrow and equities push higher.

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.

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.