Daily FNArena News - FYI

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.

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.

Mixed third quarter profit reports affected a mixed day on Wall Street.

Weekly musings from your editor. This week: has spot uranium finally bottomed?

Wall Street managed to convince itself last night that the month-old Fed minutes foretold of further rate cuts ahead. Aye caramba.

The US economy will definitely slow, suggests GaveKal, but there are no signs a recession is imminent.

While a lack of affordability will delay any recovery in housing and will flow through into weaker domestic demand, Westpac sees above consensus growth in the US in 2008 on the back of stronger exports.

The US dollar continued its fight back rally against major currencies last night, sending oil, gold and metals south. The Dow closed slightly lower.

Emerging debt problems for banks in Kazakhstan have the world’s attention with economists expecting more problems among Emerging Market countries to surface.

Investor attention is bound to turn to US corporate earnings this week. But there’s plenty of Fed stuff to digest as well with the release of the September minutes and speeches in Dallas.