James Kong

US consumer confidence fell from 54.3 to 50.4 in July, just below forecasts centred on a result near 51.0.

U.S. stocks were mixed Tuesday as a weak consumer-confidence reading offset the latest round of strong corporate earnings. Stocks traded in a narrow range throughout the day.

An increase in the Australian Conference Board leading index from 0.1% to 0.3% during the month of May added some underlying support to the Aussie dollar in Asia yesterday as it held firm above the 90 cent handle etching out gains to enter offshore exchange at 0.9025.

The Australian share market ran out of steam in late afternoon trade, however it still managed to notch up a third successive win, on the back of a strong lead from Wall Street.

The Australian share market is slipping into bad habits, once again rallying on positive overseas leads before giving up the gains in the afternoon session.

The local stock market started on a strong footing this morning on the back of better than expected new home sales in the US. This is the second day of positive moves for the local bourse, with base metal prices also lending support.

The data supporting the global economic recovery continues to be mixed - patchy, inconsistent over time, and varying enormously by region - and in no way supporting the idea of a "V-shaped" recovery, the popular view six months ago.

The iPhone was named the 'Coolest Thing on the Planet'.

Social networks have become a critical, but underutilized, aspect of the marketing process, according to Gartner, Inc. Gartner analysts have examined the way social networks shape consumer buying behavior.

Telstra today announced that it will launch iPhone 4 in Australia on July 30.

The peak body representing the Australian automotive industry, the Federal Chamber of Automotive Industries (FCAI), has given its support to a proposal to offer motorists a $2,000 rebate to switch to new, safer and more fuel efficient vehicles.

Overnight we saw the AUD break through USD0.9000 and this morning it is currently trading comfortably above this level.

US new home sales soared by 23.6pct to a 330,000 annual rate in June, well ahead of forecasts centred on a result near 320,000. The stock of unsold homes fell from 9.6 months to 7.6 months.

The Aussie dollar held on to support around 0.8940 during the Asian session despite a lower than expected second quarter Producer Price Index or PPI as its referred to.

Air New Zealand has further boosted its commitment to regional New Zealand, by offering the opportunity for frequent flyers to slash the cost of their travel.

Average profit growth could be as high as 20 per cent across the sectors for the 30 June reporting season on the back of improving local economic condition

The Australia Dollar has opened up in the mid 0.8900's after another modestly strong showing from US and European equity markets on Friday.

Only seven of 91 European banks failed stress tests - Hypo Real Estate Holding AG, Agricultural Bank of Greece SA and five Spanish savings banks. The European regulators say the seven banks need to raise 3.5 billion Euros in capital.

Despite the uncertainty facing the European banking system the AUD/USD remained range bound on Friday bouncing between 0.8900 and 0.8970 for the majority of the Asian and offshore trading sessions.

The Australian market looks set to follow the US lead today with the ASX 200 called to test 4500 on open.

The AUD has opened up over USD0.8900 this morning after a surprisingly strong night offshore last night.

U.S. stocks climbed broadly Thursday following strong earnings from Caterpillar, 3M and United Parcel Service, while better than expected data on U.S. existing home sales and euro zone economic activity also provided a boost.

US jobless claims rose by 19,000 in the latest week to 464,000, above expectations for a result near 445,000.

After looking vulnerable to more downside in Asia yesterday the Aussie dollar found intraday support at 0.8735 going on to reverse its trajectory and rally during the European time-zone to retest what had been strong resistance around 0.8750.

The Australian share market is trading in the red at lunchtime, however we are not experiencing the falls that were predicted in the wake of a one percent drop on Wall Street overnight. The All Ordinaries Index (XAO) is lower by 12.5pts to 4416.2.

The AUD has opened back below USD0.8800 this morning after financial markets retreated on Federal Reserve Chairman Ben Bernanke's comments before a US Senate Banking Committee.

On Wall St, early gains after strong results from Apple and Morgan Stanley were quickly erased once Fed Chairman Ben Bernanke began his speech.

The US Federal Reserve chairman, Ben Bernanke, delivered semi-annual testimony on the economy, saying that the outlook for the economy was ´´unusually uncertain.´

Stocks dropped broadly Wednesday after Federal Reserve Chairman Ben Bernanke said the central bank is not prepared to consider further stimulus in the near term despite what he called an unusually uncertain outlook.