Daily Markets - We Have A Rapidly Approaching Inflation Problem And US Dollar Crisis

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• We Have A Rapidly Approaching Inflation Problem And US Dollar Crisis
• Hot Stock News For Wednesday 8 September: Hewlett-Packard, Oracle, GlaxoSmithKline, Rio Tinto
• 50 Things About The U.S. That Our Founding Fathers Would Be Horrified About
• Silver Quietly Hits New 52-Week Highs – Is The Breakout Real Or Just A Trap?
• CNOOC Amends South China Sea Deals
• Vodafone Sells China Mobile Stake
• ASA Staffing Index Reaches 100-Week High
• Forex Trading: USDJPY Moves To 84.02 Resistance Level
• American Tower Expanding Globally
• Grupo Aeroportuario: Traffic Takes Off
• Forex Trading: USDCAD Breaks 100 And 200 Day On Better Ivey PMI
• Forex Trading: EURUSD Trying To Make A Break To The Upside.
• Euro Pressured By Debt Problems In Eurozone
• Next Telecom Big Push From India
• J. C. Penney Sales Rise
• Stock Market News Briefs: Bristol-Myers Squibb Company, China Mobile (Hong Kong) Ltd., Goldman Sachs Group, Navistar International, Phillips-Van Heusen, Smithfield Foods, Transocean, UBS AG, Vodafone AirTouch Public Limited Company, Wells Fargo & Company, Intel, Staples, ZymoGenetics
• Economic Consequences Of Speculative Side Bets: The Case Of Naked CDS VoxEU
• Forex Trading: USDCHF Breaks Above Resistance After Failing On Break To New Lows
• Australian Dollar: Caution
• Canadian Dollar: Bullish Bias Above 1035
• Swiss Franc: Under Pressure
• Japanese Yen: The Downside Prevails
• British Pound: Rebound
• Euro: Rebound
• Family Dollar Carries Momentum
• Forex Trading: EURJPY Tests Intraday Support But Needs To Breach 106.48-60 Above
• Research In Motion In Buying Spree
• British Pound Rallies Against The U.S. Dollar Ahead Of The BoE Interest Rate Decision
• PIMCO Ranks Fourth In ETF Advisor Loyalty

We Have A Rapidly Approaching Inflation Problem And US Dollar Crisis Posted: 08 Sep 2010 07:53 AM PDT Lately we’ve been hearing a lot of talk about Kondratieff cycles, Elliot Wave super cycle, end of the world, deflation, deflation, deflation. What the deflationists fail to acknowledge is that in a purely fiat monetary system deflation is a choice not an inevitability. To put it in simple terms, if a government is willing to sacrifice its currency there is absolutely no way deflation can take hold in a modern monetary system. It doesn’t matter how large the debt contraction is, 10 … [visit site to read more]

Hot Stock News For Wednesday 8 September: Hewlett-Packard, Oracle, GlaxoSmithKline, Rio Tinto Posted: 08 Sep 2010 07:50 AM PDT Equities came under pressure as concerns over the EU banking system resurfaced following press articles which suggested that some banks underestimated their sovereign debt exposure during the EU-wide stress tests. As such, financials dragged the S&P 500 lower, followed by oil & gas sector as commodity sector came under pressure on the back of a stronger USD index (+0.62%). The closing stages on the session saw indices touch on fresh session low and at the closing bell DJIA closed … [visit site to read more]

50 Things About The U.S. That Our Founding Fathers Would Be Horrified About Posted: 08 Sep 2010 07:42 AM PDT If our Founding Fathers were alive today, what would they think of America?  Surely they would be very proud that the United States stretches from the Atlantic to the Pacific and has built some of the most amazing cities that the world has ever seen.  They would probably be surprised that the country they founded went on to become the greatest economic machine in the history of the world, and they would be absolutely astounded by things like our interstate highway system and the … [visit site to read more]

Silver Quietly Hits New 52-Week Highs – Is The Breakout Real Or Just A Trap? Posted: 08 Sep 2010 07:40 AM PDT While most traders pay much more attention to gold, silver is trying to vie for their attention currently. While gold rallied into a known resistance area recently, silver quietly broke to new recovery – and new 52-week highs.  The question now remains – is the breakout real or just a trap? Let's start with the big picture of the Weekly chart for silver's tradeable ETF SLV (SLV): A quick chart glance shows us a very significant ascending triangle formation – drawn … [visit site to read more]

CNOOC Amends South China Sea Deals Posted: 08 Sep 2010 07:35 AM PDT China National Offshore Oil Corporation ("CNOOC"), the parent company of CNOOC Limited (NYSE:CEO), signed amended production sharing contracts (PSCs) with Chevron Corporation (NYSE:CVX) and BP Plc (NYSE:BP) for three deepwater blocks 42/05, 64/18 and 53/30 in South China Sea. These deals were signed by CNOOC following Devon Energy Corporation's (NYSE:DVN) withdrawal from the South China Sea deepwater oil projects.   In 2005 and 2006, CNOOC had signed three PSCs with Devon, which were approved … [visit site to read more]

Vodafone Sells China Mobile Stake Posted: 08 Sep 2010 07:35 AM PDT Vodafone Group Plc (NYSE:VOD), the largest revenue generating international wireless carrier, announced the sale of its entire 3.2% stake in China Mobile (NYSE:CHL) for £4.3 billion ($6.6 billion). China Mobile is the world's largest mobile operator by market capitalization and subscribers.   The sale is a part of Vodafone's new strategy announced in July to exit minority holdings and focus on core markets in Europe, Asia and India. Vodafone is reviewing all its minority holdings such as … [visit site to read more]

ASA Staffing Index Reaches 100-Week High Posted: 08 Sep 2010 07:16 AM PDT The American Staffing Association (ASA) Staffing Index for temporary and contract employment activity reached a 100-week high of 97 for the week of August 23-29, the highest index level since a reading of 97 in the week of September 29, 2008 (see chart above, data here). Compared to the same week last year, the latest ASA Staffing Index has improved by 28% for Week 35. This marks the 19th week in a row with percentage gains above 20% compared to the same month in 2009 and the 28th straight … [visit site to read more]

Forex Trading: USDJPY Moves To 84.02 Resistance Level Posted: 08 Sep 2010 07:08 AM PDT The USDJPY has moved toward to the resistance level discussed in the Opening Forex Commentary earlier today.  The level corresponds with lows that held support over the last 3 or so weeks.  Found sellers against the level on the first … [visit site to read more]

American Tower Expanding Globally Posted: 08 Sep 2010 07:05 AM PDT American Tower Corp. (NYSE:AMT), the largest independent operator of wireless communications towers in the world, is aggressively pursuing its global ambitions. The company recently started operations in Colombia. American Tower has entered into an agreement with Spanish wireless carrier Telefonica S.A. (NYSE:TEF) Colombian subsidiary to purchase the use right of 458 wireless tower. Out of this, 225 towers are already purchased and the rest will be acquired by the end of 2010.   During 2010, … [visit site to read more]

Grupo Aeroportuario: Traffic Takes Off Posted: 08 Sep 2010 07:05 AM PDT Grupo Aeroportuario del Pacifico SAB de CV (NYSE:PAC) has announced its total passenger traffic for August 2010. Passenger traffic increased 3.6% year over year, with domestic passenger traffic increasing 2.3% and international passenger traffic increasing 6.6%.   Passenger traffic increased significantly during the first two months of the third quarter of fiscal 2010. During July 2010 passenger traffic increased 11.3% year over year with domestic passenger traffic and international … [visit site to read more]

Forex Trading: USDCAD Breaks 100 And 200 Day On Better Ivey PMI Posted: 08 Sep 2010 07:01 AM PDT The 1.0384 -87 level will be eyed … [visit site to read more]

Forex Trading: EURUSD Trying To Make A Break To The Upside. Posted: 08 Sep 2010 06:57 AM PDT The EURUSD broke above the Remembered Line at the 1.2732 level.  A new high was reached at 1.2740 but the pair has pushed back below the line toward intraday support at 1.2719.  It is do or die time. Hold 1.2719 and look for a break back above 1.2732.  Fail below 1.2719 and likely going to stay … [visit site to read more]

Euro Pressured By Debt Problems In Eurozone Posted: 08 Sep 2010 06:47 AM PDT A sway of negative economic releases assaulted on risk appetite, pushing the bet currencies to the downside. Pressures about a potential peaking economies in the Euro-zone escalated sell-offs in the 17 nation currency. The Euro slipped below 1.2700, while the British Pound actually managed to gain to 1.5450 in the European session, the Japanese Yen continues to hang around 83 to 84 thresholds. Greek sovereign debt situation took turn for the worse, further pressuring the Euro. National Bank … [visit site to read more]

Next Telecom Big Push From India Posted: 08 Sep 2010 06:35 AM PDT India, the second largest emerging market in the world, is likely to turnout as a "Treasure Island" for the global telecom equipment manufacturing giants. According to recent news in The Economic Times, the first phase of 3G networks deployment in India may provide a business opportunity of approximately $3 billion for these network gear makers. If this actually happens, then India will generate the largest global telecom contract in 2010.   In last May, Department of … [visit site to read more]

J. C. Penney Sales Rise Posted: 08 Sep 2010 06:35 AM PDT J. C. Penney Company Inc. (NYSE:JCP), a leading retailer of apparel, footwear, accessories, fashion jewelry, beauty products, and home furnishings, recently reported its sales results for the four-week period ended August 28, 2010.   The company's comparable-store sales for August 2010 climbed 2.3%, reflecting a sharp improvement from a decline of 0.6% and a fall of 7.9%, witnessed in July 2010 and August 2009, respectively. Year-to-date comparable-store sales edged up 1.4% compared with a … [visit site to read more]

Stock Market News Briefs: Bristol-Myers Squibb Company, China Mobile (Hong Kong) Ltd., Goldman Sachs Group, Navistar International, Phillips-Van Heusen, Smithfield Foods, Transocean, UBS AG, Vodafone AirTouch Public Limited Company, Wells Fargo & Company, Intel, Staples, ZymoGenetics Posted: 08 Sep 2010 06:35 AM PDT  Bristol-Meyers (NYSE:BMY) said it agreed to acquire ZymoGenetics (NASDAQ:ZGEN) for $9.75 per share, in a deal valued at 885 million  A Bloomberg report said Vodafone (NYSE:VOD) will sell its stake in China Mobile (NYSE:CHL) for $6.6 billion  Smithfield Foods (NYSE:SFD) posted inline fiscal first quarter earnings of 46 cents a share on a 6.9% revenue increase to $2.90 billion, below estimates of $3.06 billion  Phillips-Van Heusen (NYSE:PVH) reported better-than-expected second quarter … [visit site to read more]

Economic Consequences Of Speculative Side Bets: The Case Of Naked CDS VoxEU Posted: 08 Sep 2010 06:34 AM PDT Interesting article from VoxEu on Credit Default Swaps. Reprinted here with permission. The role of naked credit default swaps in the global crisis is an ongoing source of controversy. This column seeks to add some formal analysis to the debate. Its model finds that speculative side bets can have significant effects on economic fundamentals, including the terms of financing, the likelihood of default, and the scale and composition of investment expenditures. There is arguably no class of … [visit site to read more]

Forex Trading: USDCHF Breaks Above Resistance After Failing On Break To New Lows Posted: 08 Sep 2010 06:31 AM PDT … [visit site to read more]

Australian Dollar: Caution Posted: 08 Sep 2010 06:18 AM PDT Update on supports and resistances. … [visit site to read more]

Canadian Dollar: Bullish Bias Above 1035 Posted: 08 Sep 2010 06:18 AM PDT Update on supports and resistances. … [visit site to read more]

Swiss Franc: Under Pressure Posted: 08 Sep 2010 06:18 AM PDT Update on supports and resistances. … [visit site to read more]

Japanese Yen: The Downside Prevails Posted: 08 Sep 2010 06:18 AM PDT Update on supports and resistances. … [visit site to read more]

British Pound: Rebound Posted: 08 Sep 2010 06:18 AM PDT Update on supports and resistances. … [visit site to read more]

Euro: Rebound Posted: 08 Sep 2010 06:18 AM PDT Update on supports and resistances. … [visit site to read more]

Family Dollar Carries Momentum Posted: 08 Sep 2010 06:05 AM PDT Family Dollar Stores Inc. (NYSE:FDO), the operator of self-service retail discount store chains, carries its growth momentum in fourth-quarter 2010. Following an increase of 8.4% in third-quarter 2010, the retailer stated that sales had jumped 8% to $1,957 million in the quarter under review from $1,811 million posted in the prior-year quarter.   Comparable-stores sales remain healthy, reflecting improved traffic counts and an increase in average transaction value. Comps climbed 6.1% during … [visit site to read more]

Forex Trading: EURJPY Tests Intraday Support But Needs To Breach 106.48-60 Above Posted: 08 Sep 2010 05:47 AM PDT … [visit site to read more]

Research In Motion In Buying Spree Posted: 08 Sep 2010 05:35 AM PDT Research In Motion Ltd. (NASDAQ:RIMM) moves ahead with its acquisition spree. Recently, the company has acquired assets of DataViz, the makers of the popular Documents To Go application. The acquisition news came shortly after DataViz's announcement to cancel the development of Documents To Go solution for Palm WebOS. Palm WebOS is Palm’s proprietary mobile operating system running on the Linux kernel.   As part of this acquisition, Research in Motion also hired the majority of DataViz's … [visit site to read more]

British Pound Rallies Against The U.S. Dollar Ahead Of The BoE Interest Rate Decision Posted: 08 Sep 2010 04:30 AM PDT Fundamental Headlines • Global-Bank Deal Targets Reserves– Wall Street Journal • Yen Extends Climb Against Dollar – Wall Street Journal • Eurozone Worries Linger Over Markets – Financial Times •Greek Debt Deals Hidden From EU Probed as 400% Yield Gap Shows Bond Doubts – Bloomberg • Swiss Franc Reaches Record Versus Euro on Concern Banks, Economy Struggle – Bloomberg EUR/USD: The trade balance in Europe's largest economy scaled back to 13.5 billion … [visit site to read more]

PIMCO Ranks Fourth In ETF Advisor Loyalty Posted: 08 Sep 2010 04:00 AM PDT PIMCO was ranked fourth amongst ETF providers in advisor loyalty by a report that also had Vanguard coming in on the top of that ranking, followed by iShares and State Street's SPDRs. The report was produced by Cogent Research, a Cambridge-based research firm, in August and was called the 2010 Advisor BrandscapeTM. Vanguard displaced iShares from the top spot which it occupied in 2009, while State Street maintained its 3rd place ranking. However, the surprise entrant was PIMCO, given that it … [visit site to read more]

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