The G20 did not achieve anything in the way of a swift end to the Currency War at its meeting, but a surprise shift in IMF voting rights may prove the impetus.
A wrap of events affecting the market on Friday night and the weekend and a preview of the week ahead.
A brief look at important company events and economic data releases next week.
Wall Street attempted another run-up towards the April peak last night but failed before a dollar bounce compounded the pullback. Dow up 38. (Locked for subscribers until 10:00 AEDST)
Wall Street reversed its earlier reaction to the Chinese rate hike last night and savoured several strong earnings reports. Dow up 129.
Having not raised rates since December 2007, yesterday the PboC surprised markets and sent the US dollar crashing up and stocks and commodities crashing down by announcing a 25bps hike.
The Chinese rate rise pushed up the US dollar last night sending stocks down ahead of news the NY Fed is suing BofA. Dow down 165.
To raise or not to raise? The pros and cons are finely balanced according to the RBA minutes.
A good result from Citi and relief on foreclosures had the banks leading indices higher last night. Dow up 80.
A wrap of events affecting the market on Friday night and the weekend and a preview of the week ahead.