POLITICS & POLICY

Bell FX, Rivkin Securities, IG Markets Currency Outlook: There was a slight weakening of risk-related assets over the weekend with the lower-than-expected turnout of U.S. GDP. The AUD opened this morning below the 1.0300 level banking on hopes that the ECB rate decision will provide the boost during this week's trading.

FROM IG MARKETS CHRIS WESTON, Chief Market Strategist:The commodity trade came back with a vengeance today, and whether this is one-day affair or the start of something more compelling, we have seen traders taking shorts off the table, and many putting on new longs.

Takehiko Nakao has been unanimously elected President of the Asian Development Bank (ADB) by its Board of Governors.

All the past few months, Australian voters were conditioned to believe that the poll contest in the September national election would be between Australian Labor Party leader and current Prime Minister Julie Gillard and Coalition leader Tony Abbott. However, a third Australian is aiming to be the country's next prime minister and is reorganising the United Australian Party (UAP) for that purpose. He is mining billionaire Clive Palmer.

Telecommunications and materials stocks drove the Standard & Poor's 500-stock index to a fifth advance in a row after a string of firm earnings reports and an upbeat reading from the labor market.

Bell FX Currency Outlook: The Australian Dollar is sitting just south of USD 1.0300 this morning which is slightly higher than where it was trading at local close of business on Wednesday.

Prince Harry of Wales was able to experience how to change a baby doll’s diaper with one hand while the other holds a dumbbell during his visit at Headway in Nottingham, England on April 25. Headway is a charity organization that supports the brain injury survivors and the 28-year-old Royal Prince showed his charming side at the event.

It was a day of lost medals for two World War II diggers on Thursday as Australia celebrated ANZAC Day.

IG Markets strategist Evan Lucas on Global Markets:Commodities and currencies alike are jostling for position heading into the start of May - as rate cuts, balance sheet expansions and increased stimulus measures dominate the financial headlines.

Even with its massive weight and build, cute and cuddly yet scared pandas in China scrammed for safety at the height of the 6.6 magnitude earthquake that hit Sichuan province on April 20.

Affirming its location on the Pacific "Ring of Fire," Papua New Guinea has been struck yet again by a 6.4 magnitude earthquake on Wednesday, the fifth that the country experienced in a span of six weeks. No tsunami warnings were released.

Chinese exports of its precious rare earths have jumped in the first quarter, spurred by a global demand that was bolstered by falling market prices.

The Dow Jones Industrial Average on Tuesday was up 152.29 (1.05 per cent) at 14,719.46. The broad-based S&P 500 added 16.28 (1.04 per cent) at 1,578.78, while the tech-rich Nasdaq Composite Index jumped 35.78 (1.11 per cent) to 3,269.33.

Australian Dollar Outlook (BELL FX, Rivkin Securities): Slightly lower overnight by 0.17% $1.0258, the Australian dollar has been trading marginally higher at $1.0267 (8:50 AEST) at the start of this morning's auction against the US dollar.

While the battle over the tax records is still being fought, Google Inc.'s executive chairman Eric Schmidt had a say in defending the company's reputation. He simply came to the rescue as Google Inc. has been recently struggling with increasing attacks on the sum of tax it paid in the UK.

The 2013 Lyrids Meteor Shower was at its best peak from April 21 to the early morning hours of April 22. Viewers who were not able to experience the spectacle can still catch the rare phenomenon with NASA’s live stream coverage shared on Space.com beginning at 8:30 p.m. EDT (0030 GMT).

At 9:57 p.m. of Tuesday, April 23, Australia's 23 millionth resident, a male child, will likely be born to a 31-year-old mother and 33-year-old father who are residents of Western Sydney.

US stocks moved higher amid mixed earnings reports, bouncing back after last week's losses. The Dow Jones Industrial Average gained 19.66 points, or 0.14 per cent, to 14,567.17. The broad-based S&P 500 added 7.25 points, or 0.47 per cent, to 1,562.50. The tech-rich Nasdaq Composite Index jumped 27.50 points, or 0.86 per cent, to 3,233.55.

Bell FX Currency Outlook: The Australian Dollar is slightly lower this morning as traders remain cautious ahead of some Chinese manufacturing data due to be release today.

Rescue workers feared more dead bodies lie under the rocks that toppled over from the concrete structures that got destroyed during Saturday's magnitude 6.6 earthquake in Sichuan province. At least 207 have been confirmed dead as of Sunday, while the number of injured have reached more than 11,800.

Bell FX Currency Outlook: The Australian Dollar had a quiet night on Friday after the volatile movements of last week and opens this morning below 1.0300.

Stocks rose Friday, trimming the biggest weekly loss of the year for the Dow, as continued strength in defensive corners of the market offset a selloff in International Business Machines shares.

The 2013 Lyrids Meteor Shower is at its peak between Sunday night and the early hours of Monday morning but viewers can still see the spectacle until April 25. The bright moon may be an obstacle for the sky watchers but there are still some tips on how to best view the celestial display.

The gay community has an unlikely new icon in the form of a New Zealand politician. The video of Maurice Williamson's articulately delivered speech supporting gay marriage in the country has become viral on the Internet.

Japan has been shaken anew by a 7.2 magnitude earthquake, located in Kuril Islands off the country's northern part.

With Shenzhen and Shanghai already slated to commence their respective carbon emissions trading in June, China is now mulling to draft its own national legislation on climate change.

Australian rare earths mining firm Lynas Corp remained confident demand for its rare earths will eventually pick up in the medium term as it announced it had been able to produce a full suite of rare earths products in the first quarter of 2013.

Stocks continued their slide after a full slate of uninspiring corporate earnings reports provided little to compel investors to step in and buy shares.

A study by Australia's Commonwealth Scientific and Industrial Research Organisation (CSIRO) has warned that the world's coastline beaches could experience swelling and intense levels and heights of pounding ocean waves due to climate change.