Daily FNArena News - FYI

Increasingly bellicose rhetoric from Dick Cheney with respect to Iran helped to push oil and gold higher last night as Wall Street awaited the Fed.

While UK mortgage lender Northern Rock may have faced insolvency due to the global credit crunch, its own lending practices suggest it is hardly an innocent victim.

Volatility is set to return to the markets this week as the Fed makes its rate decision and US brokerages report third quarter earnings.

The Dow reversed a 100 point fall on Friday as poor economic data cheered a market hoping for a big rate cut.

The Reserve Bank of New Zealand left official interest rates unchanged yesterday and economists suggest early next year is the soonest the market can expect a rate cut.

Good news from McDonald’s and GM pushed the Dow higher in light trade while the financial sector also benefited from some positive developments.

Wall Street range traded last night as oil and wheat posted record highs and the dollar fell to an all time low against the euro. The I-word is back.

Weekly musings from your editor. Who wants to join me whale hunting?

The Dow put on 180 points last night as Bernanke said nothing in Europe, the US dollar weakened, gold surged, and oil hit an all time high.

As investors factor in rate cuts in the US foreign exchange markets are re-pricing accordingly with the US dollar weakening and the Australian currency being supported by interest rate differentials.