The Australian market is looking "cheap", notes Justin O'Brien, vice president, Morgan Stanley Smith Barney. Greg Canavan, editor of Sound Money, Sound Investments, however, is taking a more cautious stance. They share their views with CNBC's Oriel Morrison.

The U.S. dollar and gold will both falter as risk aversion trades start to come off, believes Jonathan Barratt, MD of Commodity Broking Services. He shares his outlook, with Greg Canavan, editor of Sound Money, Sound Investments and CNBC's Oriel Morrison.

The latest headlines this hour, with CNBC's Matthew Taylor.

Following media reports suggesting the Australian government may compromise on the proposed mining tax, Greg Canavan, editor of Sound Money, Sound Investments, tells CNBC's Oriel Morrison PM Rudd will have to pull back from a hardline stance.

The euro may start to stabilize or go up a bit further on a short term basis, predicts Nick Bennenbroek, head of currency strategy at Wells Fargo. He shares his currency outlook with guest host Greg Canavan, editor of Sound Money, Sound Investments and CNBC's Oriel Morrison.

We're in a bear market rally right now, says Greg Canavan, editor of Sound Money, Sound Investments, and investors should be cautious about jumping in too early. Meantime, Geoff Beeston, investment advisor at Lonsec, tells CNBC's Oriel Morrison he is loading up on select Australian energy, mining and banking plays.

Amid the market volatility, investors should start getting greedy as many companies are trading at low valuations, say today's guests. John Milroy, private client advisor with Macquarie Private Wealth and Shane Oliver, chief economist at AMP Capital, share their investment strategies with CNBC's Oriel Morrison.

BP's stock price plunged to a 14-year low amid concerns over its ability to meet mounting costs of the giant Gulf of Mexico oil spill. John DiPlacido, president and oil trader from Energex, dicusses the impact on crude prices, with CNBC's Oriel Morrison.

The world's largest manager of collateralized loan obligations, Highland Capital Management, has successfully weathered the storm. The firm's founder, Mark Okada, sheds light on why the industry has done well, with Shane Oliver, chief economist at AMP Capital and CNBC's Oriel Morrison.

The latest headlines this hour, with CNBC's Matthew Taylor.

Tony Morriss, senior market strategist at ANZ, expects RBNZ to hike rates to 3.5% by year's end. He tells Shane Oliver of AMP Capital and CNBC's Oriel Morrison, that rate differentials are still supportive for the Aussie.

Buy cyclical stocks as markets are 15% cheaper versus April's highs and the global recovery will continue, says Shane Oliver, chief economist at AMP Capital. He talks strategy with Ron Cameron, senior analyst at Ord Minnett and CNBC's Oriel Morrison.