James Kong

Going to London to find work at a bank is no longer mission impossible. The UK economy may still be struggling, but financial services job vacancies are picking up, at least for now.

Home building companies including Toll Brothers, D.R. Horton and PulteGroup led U.S. stocks modestly higher Wednesday as the market looked past disappointing economic data in the hopes that the housing market has finally bottomed.

US new home sales fell by 12.4pct to a 276,000 annual rate in July. Economists had tipped a decline to 330,000. Home prices were down 4.8pct on a year ago while new home supply equated to 9.1 months of current sales.

Australian shares have fallen to their lowest level in over a month as investors sold out of equities in response to renewed economic concerns in the US.

The Australian stock market is trading lower again today on the back of the overall weakness from offshore markets.

US existing home sales fell by a record 27.2pct in July to a 15-year low of 3.83 million following the end of a home-buyer tax credit. Forecasts had centred on a result near 4.70m.

U.S. stocks fell Tuesday, with Boeing, Alcoa and Caterpillar leading a broad slide as a record drop in U.S. existing home sales added to investors' worries about the health of the economy. The Dow Jones Industrial Average dropped 133.96 points, or 1.32%, to 10040.45, its fourth straight drop.

This morning the AUD is fairly unchanged from the levels traded yesterday, currently trading around USD0.8900.

The Chicago Fed national activity index rose from -0.7 to 0 in July. The zero value in the index indicates a national economy expanding at historical averages.

U.S. stocks fell Monday despite acquisition offers from companies including Hewlett-Packard as investors remained concerned about broad economic weakness. The Dow Jones Industrial Average declined 39.21 points, or 0.38%, to 10174.41, its third straight session in the red.

The Australian Dollar has opened this morning below 0.8900 after sliding from its Friday close in the US of 0.8940 after the results of the Australian federal election on Saturday that has produced the first hung Parliament in 70 years.

The Aussie dollar fell a cent against the greenback in early Australasian trade this morning following the inconclusive election result.

Energy stocks including Exxon Mobil, Chevron and drilling companies weakened Friday, as a bleak economic outlook and a surging dollar sent investors fleeing from riskier commodities.

Political uncertainty has pushed the Australian Dollar to open this morning at 0.8860 against the US Dollar, sliding as much as 0.8%.

The Australian share market is lower in morning trade, after a negative night on global markets and falls in commodity prices. The All Ordinaries Index (XAO) is down 0.86pts or 38points to 4,470 at lunchtime.

Indecision is the perfect bedfellow of investor inertia. And at the moment it is completely understandable that investors are feeling uncertain, indecisive.

The Australian Dollar has opened lower this morning, falling back through USD0.8950 overnight following some disappointing US data releases.

US Philadelphia Fed business activity index fell from +5.1 to minus 7.7 in August - marking the weakest reading in 13 months. The sub-indices also highlighted significant weakness. Employment, new orders and shipments all posted negative readings.

Intel and General Electric both weighed heavily on the Dow Jones Industrial Average Thursday as U.S. stocks skidded broadly.

The Australian Dollar endured a lack lustre session during Asian time yesterday with the little battler limited to a 35 pip range.

The Australian stock market closed flat amid mixed company earnings reports and concern over BHP Billiton's credit rating in light of its takeover offer for Canada's PotashCorp.

In Asia, regional markets are mostly higher this Thursday following a solid set of leads from the US. Bargain hunting in Japan has lifted stocks, with the Nikkei 225 1% firmer. Elsewhere, The Hang Seng and Kospi are up 0.8% and 0.9% respectively while the Shanghai Composite is 0.4% stronger.

Once again the Australian share market is trading flat, as weakness in blue-chip stocks offsets positive earnings results. The All Ordinaries Index (XAO) is down 2.6pts to 4501.3 at lunchtime in the east.

US mortgage applications rose sharply last week, lifting 13.0pct in response to strong refinancing demand. The refinancing index soared by 17.1pct to 15-month highs although the purchase index actually fell by 3.4pct.

Retailers led U.S. stocks slightly higher Wednesday as better than expected earnings from Target lifted fellow department store chains Kohl's and J.C. Penney.

The Australian Dollar opens lower today against the greenback at 0.8980.

The Australian Dollar is steady after a relatively quiet night on the economic data front gave the markets little to draw on as far as the state of the economic recovery in the US and Europe is concerned.

The AUD has opened stronger this morning gaining overnight with news that China will take over Japan's place as the world's second largest economy.

US NAHB housing market index fell 1pt to 13 in August - marking the third straight month of falls and a 17-month low. A reading below 50 indicates that more builders view conditions as poor rather than good.