Christine Gaylican

Bell FX Currency Outlook: The AUD has fallen over a cent during the offshore session, as Moody's rating agency said that the EU summit last week was inconclusive and that the Eurozone was still on negative watch.

From Morrison Securities Pty Ltd. A negative reaction to last week's European sovereign-debt summit by credit-ratings firms sent U.S. stocks sharply lower Monday, erasing all of the stock-market gains that followed the summit Friday.

Minmetals Resources Limited (HKSE 1208) (ASX:MMR) has announced on Monday that its zinc ore reserves climbed up 103.9% due to the inclusion of the Dugald River ore exploration in estimates.

The La Nina weather pattern expected to drench the summer months in Australia is deemed to impact on gas generation, carbon analytics firm, RepuTex said in a briefing.

Australian consumers had reluctantly spend in the first six months of 2011, making it harder for small to medium businesses to survive and thrive during that semester. Coming in the last weeks of 2011, a survey of more than 1,500 consumers across Australia's states had indicated what are the priorities of consumers during these trying times.

(From Bell Potter Securities -BELL FX Daily) The Australian dollar has opened this morning around the 1.0200 level after equity markets reacted positively to the conclusion of the EU summit on the weekend.

Australian share markets are seen opening positively this week following the strong signals from the European stock markets. Analysts from CMC Markets, Commonwealth Securities, IG Markets, and OptionsXpress share their views as to what direction the local equity markets will go on this first trading day.

U.S. stocks wrapped up a second straight week of gains as the euro zone's latest plan to fix its debt crisis overshadowed some disappointing forecasts from big U.S. companies. The Dow Jones Industrial Average advanced 187 points, or 1.6%, to 12184.26, undoing most of the previous day's sharp losses.

A survey of more than 360 internationally renowned real estate professionals, including investors, developers, property company representatives, lenders, brokers and consultants has revealed the emerging top earners for the real estate sector in 2012.

The Productivity Commission's finding that NBN Co's business model is potentially in breach of the federal government's own competition policy underlines the need for a cost-benefit analysis of the National Broadband Network, Business Council of Australia Chief Executive Jennifer Westacott said.

Emerging markets are again at the forefront of investment portfolios in 2012 as the dangers of inflation and stagnation had all been washed off by the tight monetary policies this year, a senior investment manager said.

From Craig James, Commsec Chief EconomistMORNING REPORT (8.00am AEDT) -- US jobless claims fell 23,000 to 381,000 in the past week - a nine month low. US wholesale inventories rose 1.6pct in October after rising by a downwardly revised 0.3pct in September. The October result marked the largest rise since May 2011.

From Morrison Securities: U.S. stocks fell in afternoon trading as investor focus shifted from disappointment over the European Central Bank to the closely watched summit on Europe's sovereign-debt crisis. The Dow Jones Industrial Average lost 171 points, or 1.4%, to 12026 in recent action. The Standard & Poor's 500-stock index shed 23 points, or 1.8%, to 1238 and the Nasdaq Composite lost 42 points, or 1.6%, to 2607.

Not even wealth and fame could shield them from the financial crisis gripping homeowners in the United States. Celebrities were also victims of bank foreclosures and lost millions invested in properties acquired when real estate was booming.

The Australian Industry Group Australian Performance of Construction Index was 4.9 points stronger in November at 39.6, although it was still well below the 50 point level separating expansion from contraction. November marked the 18th straight month the national construction industry index has been in the red.

Bell FX Currency Outlook: The Australian Dollar has opened fairly unchanged from yesterday to be trading at USD1.0240 as positive moves overnight helped support the local currency.

Mortgage applications filed and processed in Australia went up dramatically in November, according to mortgage broking firm, the Australian Finance Group (AFG) . AFG has registered an 18.4% increase in mortgages processed in November worth an estimated $2.9 billion.

The Reserve Bank of Australia has decided to slash rates further, pegging the country's benchmark rates to 4.25 percent.

Bell FX Currency Outlook: The AUD is slightly stronger this morning after news filtered out of Europe that plans for a new treaty and fiscal rules in the region has been agreed upon.

From Craig James, Commsec Chief EconomistMORNING REPORT (8.00am AEDT) The US ISM services index fell from 52.9 to 52.0 in November - the lowest level in almost two years (January 2010). While new orders rose, the employment reading fell. Any reading above 50 indicates expansion of the services sector. Meanwhile US factory orders fell 0.4pct in October, in line with forecasts.

U.S. stocks were ahead but off session highs Monday afternoon after a Financial Times report claiming that Standard & Poor's warned six triple A-rated euro-zone members that they may suffer ratings downgrades as a result of the deepening sovereign-debt crisis.

Sydney is ranked as the third most favourable market in the Asia Pacific region for commercial real estate investment next year, largely due to the resiliency of the Australian economy, according to Emerging Trends in Real Estate® Asia Pacific 2012, a real estate forecast jointly published by the Urban Land Institute (ULI) and PricewaterhouseCoopers (PwC).

Bell FX Currency Outlook: The Australian Dollar has held its gains from last week, to open up this morning above 1.0200, after the release of US employment data on Friday evening that was close to market expectations.

From Craig James, Commsec Chief EconomistUS non-farm payrolls (employment) rose by 120,000 in November, in line with market expectations. Private payrolls rose by 140,000, the jobless rate fell from 9.0pct to a 2-1/2 year low of 8.6pct and average earnings fell by 0.1pct.

From Morrison Securities: U.S. stocks finished barely changed in Friday's session to cap a strong week after the U.S. unemployment rate unexpectedly dropped and European leaders and central bankers redoubled efforts to tackle the sovereign-debt crisis.

Bell FX Currency Outlook: The Aussie dollar remained steady overnight holding onto the huge gains it made yesterday; opening around USD1.0230 this morning, up from a low of USD1.0150 during the offshore session.

From Morrison Securities: U.S. stocks were little changed in afternoon trading Thursday, a day after a blowout rally, as headlines from Europe kept traders on the defensive but strength in the technology sector limited losses. The Dow Jones Industrial Average shed 6 points, or 0.1%, to 12049 recently, shaving off a sliver of the previous session's 490-point surge.

Industrial disputes filed by employees and workers in Australia rose to 66 during the September period resulting in more working days lost and industries paralyzed, according to the Australia Bureau of Statistics (ABS).

Manufacturing activity remained flat in November according to the latest Australian Industry Group - PwC Australian Performance of Manufacturing Index (Australian PMI®). The Australian PMI® was broadly unchanged, up just 0.4 points to 47.8, to remain below the 50 points level separating expansion from contraction.