Currencies

A weak US housing number added to a growing renewal of general concern last night as the S&P500 fell through its 200-day moving average amidst weak volume. Dow down 148. (Locked for subscribers until 10:00 AEST)

China has announced it will end the peg of its currency against the US dollar, an announcement analysts see as a positive for the Australian dollar.

Your editor has provided his view about why global investors have been selling their shares in Australian banks.

A snapshot of economist responses to today’s strong Australian labour force data for May.

The TechWizard remains unconvinced that AUD/USD has seen its lows.

The Aussie dollar is taking guidance from the US equities market these days, report FX experts at National Australia Bank.

The Dow closed up only 5 points, but it is still the first two-day winning streak since April. The S&P 500 was up a more definitive 0.4%. All quiet ahead of jobs tonight.

Gold is currently struggling with resistance, but not in euro terms where a larger bull trend is poised to commence.

Home sales figures were merely the excuse that sparked another rare rally last night, as value-buying gave way to a short-covering rush. Dow up 225.

Weak manufacturing data, the Israeli attack, hurricane forecasts, and a growing appreciation of the extent of the Gulf oil disaster weighed on markets last night. Dow down 112. (Locked for subscribers until 10:00 AEST)