Commonwealth Bank now expects longer-lasting recessions in both the UK and Europe and has adjusted foreign exchange assumptions to reflect this view.
It has not been a good start for the US earnings season amidst other global woes, although a shift back to defensives is providing a counter on Wall Street. Dow down 31. (Accessible only for subscribers before 10:15 AEDT)
Investment Manager Standard Life Investments notes global issues continue to affect risk asset returns and suggests a greater policy response is needed.
St George Bank suggests shorter-term risks for the Australian dollar remain weighted to the downside and forecasts a year-end rate against the US dollar of just above parity.
The Fed minutes revealed a circumspect FOMC and provided Wall Street with little succour. Dow down 48. (Accessible only for subscribers before 10:15 AEDT)
The US earnings season has begun in earnest with a series of profit warnings that turned Wall Street around in a hurry last night. Dow down 83. (Accessible only for subscribers before 10:15 AEDT)
ATW’s Jerry Simmons takes a new look at the EUR/USD, pointing out there are signals for both support and pressure.
Alcoa’s earnings report last night heralded the start of the US June quarter earnings season, which will hopefully prove a distraction from Europe, Europe and more Europe. Dow down 34. (Accessible only for subscribers before 10:15 AEDT)
Robert Clayton of GTL Management sees further Aussie dollar risk to the downside.
Wrap of events affecting the market on Friday night and the weekend and a preview of the week ahead.