Daily Markets - Despite Interest Rate Hike, Canadian Dollar Remains Weak Against The Yen

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• Despite Interest Rate Hike, Canadian Dollar Remains Weak Against The Yen
• Hot Stock News For Friday 10 September: BP, Texas Instruments, National Semiconductor, Sanofi-Aventis, Bristol-Myers Squibbs, Deutsche Bank, RBS, Novartis, Nokia, ABB
• Forex Trading: Eur/Chf Running Into Possible Resistance
• Forex Trading: Usd/Chf Back To Highs
• Crude Oil Inventories Watch: Week Ending 09/03/2010
• Forex Trading: GBP/USD Contines Lower
• What Is Russia’s Biggest Growth Driver?
• Forex Trading: Encouraging US News Leads To Renewal In Risk Taking
• Bull Of The Day: Expeditors International (EXPD)
• Bear Of The Day: Hudson City Bancorp (HCBK)
• Aggressive Growth Stock: Finisar Corp
• Momentum Stock: Cummins, Inc.
• Growth & Income Stock: A. O. Smith Corporation
• Forex Trading: Usd/Chf Back Down To 200 Hour M/A
• Narrowing Of U.S. Trade Deficit Gives Hope For U.S. Economic Recovery
• Three Quant ETFs Outperforming Their Respective Markets
• Initial Jobless Claims Fall To 2-Year Low
• You Know The Answer

Despite Interest Rate Hike, Canadian Dollar Remains Weak Against The Yen Posted: 10 Sep 2010 04:03 AM PDT Good day FX peeps! To cap the week I present to you an update of the CADJPY. You see, the pair has consolidated within a small symmetrical triangle after it broke down from a bigger descending triangle formation. As of the moment, the pair is already nearing the apex of symmetrical triangle. This suggests that a break out whether to the upside or to the downside is imminent. But given the pair's general trend (downtrend) and its recent break down from a descending triangle formation, … [visit site to read more]

Hot Stock News For Friday 10 September: BP, Texas Instruments, National Semiconductor, Sanofi-Aventis, Bristol-Myers Squibbs, Deutsche Bank, RBS, Novartis, Nokia, ABB Posted: 10 Sep 2010 03:55 AM PDT Vodafone (NYSE:VOD) – Co. has signalled that it could dispose of more of its minority stakes after Vittorio Colao, Chief Executive, took personal charge of all the shareholdings. (FT) UK BP (NYSE:BP) – Co. says its Q3 2010 results will be released on Tuesday 2nd November, one week later than previously indicated. (RTRS) RBS (NYSE:RBS) – Co. will consider an IPO for its insurance arm as well as a conventional sale process. (Sources) Tullow Oil – Uganda withdrew an oil exploration … [visit site to read more]

Forex Trading: Eur/Chf Running Into Possible Resistance Posted: 10 Sep 2010 01:48 AM PDT Eur/Chf  has had a nice run thus far, up over 125 points in the European session. The pair broke above its 200 hour M/A of 1.2945 and has not looked back. However it may have run into some resistance at 1.3000-10 level. The 61.8% fibo of move down from 1.3159 to 1.2759 lies at 1.3006 and there has also been rumors of good institutional offers placed here. If the pair holds a run back to 1.2945 is likely. A break above may bring us to the 1.3050-60 … [visit site to read more]

Forex Trading: Usd/Chf Back To Highs Posted: 10 Sep 2010 12:29 AM PDT As diagrammed earlier the 200 hour M/A (1.0142) held as good support for the pair with a quick reversal bringing us back to 1.0220 with little … [visit site to read more]

Crude Oil Inventories Watch: Week Ending 09/03/2010 Posted: 09 Sep 2010 11:51 PM PDT Inventories The Department of Energy reported that in the week ending September 3rd, 2010, U.S. crude oil inventories decreased by 1.9 million barrels, gasoline inventories decreased by 0.2 million barrels, distillate inventories decreased by 0.4 million barrels, and total petroleum inventories increased by 0.2 million barrels. Total petroleum inventories stalled at multi-decade highs in the latest week, but the surplus to the 5-year average grew substantially as stocks were nearly flat, while … [visit site to read more]

Forex Trading: GBP/USD Contines Lower Posted: 09 Sep 2010 11:48 PM PDT After trading continually lower since yesterday, the GBP has retreated nearly 40 pips against the USD on this current hourly candlestick. After moving through the 100 and 200 moving averages, which are converging in the area of 1.5407, it has made an urgent move through the 61.8% fibo line on the move from the low on September 7th to the high on the 8th. The next stop on this downward stroke appears to be 1.53507, an old support level from earlier in the week. We may see a … [visit site to read more]

What Is Russia’s Biggest Growth Driver? Posted: 09 Sep 2010 11:30 PM PDT Russia's publicly-traded gold companies may more than double their production in the next five years, and the country's uranium output may increase even more over that same time period. That's the outlook offered by the Moscow-based investment bank Troika Dialog in a recent research note. The way Troika sees it, Russia has four key growth drivers at work for investors – low penetration in the domestic sectors, mining growth, fiscal reforms and market consolidation that … [visit site to read more]

Forex Trading: Encouraging US News Leads To Renewal In Risk Taking Posted: 09 Sep 2010 11:18 PM PDT Encouraging US News Leads to Renewal in Risk Taking Riskier currencies made significant jumps in overnight trading, as positive news from the US economy led to renewed optimism in the global economic recovery. The most recent US Trade Balance and Unemployment figure both came in better than expected, and led to gains for the Canadian and Australian dollars. Still, the news was not enough to help the euro, which took some losses against the US dollar. Economic News USD – Dollar Slowly Moving … [visit site to read more]

Bull Of The Day: Expeditors International (EXPD) Posted: 09 Sep 2010 11:05 PM PDT We are upgrading our recommendation to Outperform for Expeditors International (NASDAQ:EXPD) following second-quarter results. The company’s second quarter earnings surpassed the Zacks Consensus Estimate and the year-ago quarter level on strong airfreight and ocean shipping demand. Yields declined despite an increase in air and ocean volumes, which led to contracting gross margins. However, as the freight is recovering, we expect yields to stabilize at lower and more normal levels. We also expect … [visit site to read more]

Bear Of The Day: Hudson City Bancorp (HCBK) Posted: 09 Sep 2010 11:05 PM PDT We are downgrading our recommendation on Hudson City Bancorp (NASDAQ:HCBK) to Underperform. The company’s second-quarter operating earnings came in just a penny ahead of the Zacks Consensus Estimate, primarily helped by lower interest expense, partially offset by an increase in provision for loan losses and a lower interest margin. Though a solid business model and strong capital levels are upsides, we believe that the elevated levels of credit metrics remain a concern for the company. The recent … [visit site to read more]

Aggressive Growth Stock: Finisar Corp Posted: 09 Sep 2010 11:05 PM PDT Finisar Corp (NASDAQ:FNSR) jumped after reporting record-setting results. Additionally, the demand outlook remains strong, Cisco-induced worries. Company Description Finisar Corp makes fiber optic and network test systems for high-speed voice, video and data communications. The company’s products are used for networking, storage, wireless and cable TV applications. Another Record-Setting Quarter On Sep 2 Finisar Corp reported quarterly results that topped their previous record results. The company … [visit site to read more]

Momentum Stock: Cummins, Inc. Posted: 09 Sep 2010 11:05 PM PDT Cummins, Inc. (NYSE:CMI) recently hit a new all-time high just shy of $85 after rebounding from a key trend line in late August. With an average earnings surprise of 73% over the last four quarters, this Zacks #1 rank stocks has some solid upward momentum. Company Description Cummins, Inc. designs manufactures and services diesel and natural gas engines, electric power generation systems and engine component products worldwide. The company was founded in 1919 and has a market cap of $16 … [visit site to read more]

Growth & Income Stock: A. O. Smith Corporation Posted: 09 Sep 2010 11:05 PM PDT A.O. Smith Corporation (NYSE:AOS) recently surprised analysts with a solid second quarter, and its fifth consecutive earnings surprise. Overall sales increased 15% year-over-year. A.O. Smith manufactures water heating equipment and electric motors for the residential, commercial and industrial markets throughout North America and China. The company is based in Milwaukee and has a market cap of $1.65 billion. Results From the Second Quarter A.O. Smith beat the Zacks Consensus Estimate by 21%, … [visit site to read more]

Forex Trading: Usd/Chf Back Down To 200 Hour M/A Posted: 09 Sep 2010 10:31 PM PDT After an earlier run up to 1.0224, Usd/Chf has come off to once again test its 200 hour M/A (1.0142). This has been a good level of support for the pair and also signifies the 50% fibo retracement of move up from 1.0059 to 1.0224. If the pair can break below more support lies at 1.0122, with both the 100 hour M/A and 61.8% fibo at this level. If the pair holds there is some light resistance at 1.0161 (38.2% fibo). A further break may bring us back to earlier … [visit site to read more]

Narrowing Of U.S. Trade Deficit Gives Hope For U.S. Economic Recovery Posted: 09 Sep 2010 10:21 PM PDT The United States in July posted the biggest drop in its trade deficit in 17 months, as imports plunged and exports shot higher, according to a government report that could lift hopes for the economic recovery. The U.S. trade deficit narrowed by 14% to $42.78 billion from a downwardly revised $49.76 billion the month before, the Commerce Department reported yesterday (Thursday). U.S. exports expanded 1.8% to $153.33 billion – the highest level since August 2008 – from $150.57 … [visit site to read more]

Three Quant ETFs Outperforming Their Respective Markets Posted: 09 Sep 2010 09:17 PM PDT Over the past few years, investors have been searching for investment tools that are "outside the box" to boost returns and add diversification, which has enabled quantitative exchange traded funds [[ETFs]] to grow at an exponential rate.  In and of itself, the vast majority of ETF assets are still held in traditional beta funds which track well-known benchmarks like the S&P 500, the Russell 2000 or the MSCI Emerging Markets Index.  In fact, the SPDR S&P 500 (SPY), the … [visit site to read more]

Initial Jobless Claims Fall To 2-Year Low Posted: 09 Sep 2010 09:02 PM PDT As both Scott Grannis and Brian Wesbury/Bob Stein pointed out today, unadjusted initial jobless claims fell to a 2-year low last week of 376,558, the lowest level since the first week of September 2008 (see chart … [visit site to read more]

You Know The Answer Posted: 09 Sep 2010 06:48 PM PDT OK, time to relax: the media, the central bank, a great many mainstream economists, and the Organization of Economic Co-Operation and Development are claiming that further economic weakness is off the table: “Fears of a Second Recession Ease, at Least for Now” (Associated Press) WASHINGTON — No, the economy isn’t roaring ahead. And no, companies aren’t making lots of job offers. But a fresh batch of economic data Thursday at least eased summertime fears that the economy might be on the … [visit site to read more]

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