Daily FNArena News - FYI

Australia is virtually devoid of data releases this week while it’s all happening across the Pacific, where the CPI release will be the highlight alongside earnings releases.

The Dow has posted one of its most extraordinary sessions ever rising 284 points largely on the back of retailer earnings reports.

An examination of the current bull and bear arguments on Wall Street.

The Dow bounces back 76 points as bond yields rise again? The subprime scare has caused a strange misalignment of the planets as Wall Street results season gets into full swing.

Weekly musings from your editor. The Aussie at parity with the US dollar? It’s not as unthinkable as it might seem.

The Dow fell 148 points last night as bullish faith in the American consumer took a hit and S&P and Moody’s began moving in on the sub-prime mortgage market.

The Australian dollar is at long-term highs against the US dollar but according to ANZ Bank conditions remain supportive and further gains appear likely.

Mugabe has rounded up and arrested 1300 shopkeepers. Clearly they are the source of Zimbabwe’s inflation problem.

Westpac suggests rather than overshooting the Australian dollar is likely to strengthen further against the US dollar as fundamentals remain supportive.

US employment data released on Friday was taken as a positive by Wall Street. This week sees local data released which should have a bearing on the RBA’s August rate decision.