Daily FNArena News - FYI

All metals were trounced last night as inventory reports were higher and oil took a tumble.

A wealth of data out of the US this week will keep US dollar traders on their toes.

Weekly musings from your editor.

A surge in the oil price led to another good night for metals prices, particularly gold, and a bounce in the Dow. Cold weather was one factor, but what George Bush will say this morning was another.

A poor start to the week was driven by growing concerns that earnings expectations may be a bit ambitious, particularly in tech stocks.

The chances of a February rate rise may well be sealed this week as the fourth quarter CPI is released in Australia, while NZ is likely to stay on hold.

Weekly musings from your editor.

The Bank of Japan might surprise with a hike this week while economic data in Australia, New Zealand and the US will be closely watched for further indications. Resources regain attention in the corporate field.

Morgan Stanley has identified some trends in global foreign exchange reserve holdings, the broker showing how they may impact on currency market movements.

GaveKal Research is not surprised by the strength in the US dollar to start the year, arguing all factors are in favour of further gains in the greenback.