Daily FNArena News - FYI

The most important event on the local calendar this week will be today’s RBA Statement on Monetary Policy.

The Russian Central Bank has responded to the weak USD by reducing the currency’s weight in its operational FX basket.

Weekly musings from your editor.

The RBA was unmoved as expected.

The US has announced a new military presence in Africa which is not just about the War on Terror.

Allegations have been made in a popular silver newsletter questioning the financial backing of Perth Mint certificate products. These allegations are quite simply unfounded.

A disappointing quarterly and a cut to earnings guidance has Telecom New Zealand under pressure, with brokers suggesting earnings risk remains to the downside.

Hedge funds are back in the news as metal trader Red Kite announced 20% losses for January, prompting a panic sell-off in copper and zinc.

If history is any guide… Barclays Capital had a look into historical guidance for February.

The market had been turning blue as it held its breath for this latest Fed update. The report card was positive.