DailyMarkets.com - Is The World On The Verge Of A Currency War?

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• Is The World On The Verge Of A Currency War?
• The Proof Is In The Numbers: America Is Getting Poorer
• Forex Trading: EUR/USD Reaches 0.0% Line And Retreats
• Forex Trading: Eurozone/Italian CPI
• The Decade Of The Philippine Peso?
• Forex Trading: USD/CHF Finding Some Hourly Resistance At .97918
• Stocks Watchlist For Thursday: Ecopetrol, MAP Pharmaceuticals, North American Palladium
• Forex Trading: Dollar Falls To A 5-Month Low
• Japanese Economy Threatened By China Rare Earth Metals Ban
• Stock Chart of The Day: China Northeast Petroleum
• Can Bond Run Much Further?
• Forex Trading: EUR/USD Testing Support Around 1.3565 Area
• Crude Oil Rises As U.S. Inventory Surplus Declines, Gold Notches Yet Another Record High
• Momentum Stock: Priceline.com, Inc.
• Growth & Income Stock: Aflac Inc.
• Aggressive Growth Stock: Modine Manufacturing Co
• Bear Of The Day: Wilmington Trust (WL)
• Bull Of The Day: Discover Financial Services (DFS)
• Singapore Stock Market Update For Thursday 30 September
• Three ETFs Influenced By Chinese Real Estate
• As America Faces Oppressive Debt, What’s In It For The Stock And Bond Markets?
• No Will To Hire

Is The World On The Verge Of A Currency War? Posted: 30 Sep 2010 03:45 AM PDT The ‘international currency war’ mentioned by Brazil’s finance minister poses massive dangers for the world trade and financial systems. This column by one of the world’s most respected international economist argues that there is a better way. The G3 should engage in quantitative easing so they all can export more to each other. For the emerging markets, the danger lies in inflation, asset bubbles and trade retaliation. To shield their key manufacturing sectors, they should encourage … [visit site to read more]

The Proof Is In The Numbers: America Is Getting Poorer Posted: 30 Sep 2010 03:30 AM PDT How in the world can anyone claim that things are getting better?  Sometimes the numbers are so clear that they simply cannot be denied.  According to the U.S. Census Bureau, median household income in the United States fell from $51,726 in 2008 to $50,221 in 2009.  That was the second yearly decline in median household income in a row.  In other words, America is getting poorer.  Just let that statistic above sink in for a little bit.  In 2009, American families had … [visit site to read more]

Forex Trading: EUR/USD Reaches 0.0% Line And Retreats Posted: 30 Sep 2010 02:10 AM PDT Before we mention that the next topside target for the euro was 1.3646, and after a push following a slightly better Italian CPI release a few minutes ago it made a new session high of 1.3646. After touching the line, it has traded lower and it now in the ballpark of … [visit site to read more]

Forex Trading: Eurozone/Italian CPI Posted: 30 Sep 2010 02:04 AM PDT Eurozone CPI Flash Estimate (y/y) – Survey: 1.8%   Actual: 1.8%  Prior: 1.6% Italian CPI (m/m) – Survey: 0.0%   Actual: -0.2%   Prior: … [visit site to read more]

The Decade Of The Philippine Peso? Posted: 30 Sep 2010 01:45 AM PDT A lot of people are asking, will the Philippine peso continue to strengthen against the US dollar? Based on its monthly chart, I'd say that there's a good chance that it will especially if the USDPHP pair breaks the 43.668 support. If and when it does, the next obvious support would not be at 42.00 as some financial analyst predict but at 40.00. Say the peso buying in tandem with the dollar selling continues and the 40.00 marker gets breached as well, then the pair's next downside … [visit site to read more]

Forex Trading: USD/CHF Finding Some Hourly Resistance At .97918 Posted: 30 Sep 2010 01:39 AM PDT With the two prior hourly candlesticks finding resistance at .97918, which is the 23.6% retracement line on the move from Sept 21 highs to yesterday's lows, the pair may be looking at .9733 as the next downside … [visit site to read more]

Stocks Watchlist For Thursday: Ecopetrol, MAP Pharmaceuticals, North American Palladium Posted: 30 Sep 2010 01:00 AM PDT Here are a few stocks I like heading into Thursday. Remember, there is GDP data coming out in pre market Thursday, so take the effect of that into account before taking positions in any of these stocks. Ecopetrol (NYSE:EC) – A double bottom in place. The move Wednesday was on impressive volume. Watch out for new highs. MA(20) has provided good support throughout the uptrend. MAP Pharmaceuticals (NASDAQ:MAPP) – For a stock to close over 15 the very same day a stock offering is announced at … [visit site to read more]

Forex Trading: Dollar Falls To A 5-Month Low Posted: 30 Sep 2010 12:54 AM PDT Dollar Falls to a 5-Month Low The US dollar reached its lowest level against the euro in five months Wednesday, as investors anticipated a Federal Reserve move to boost the ailing economy by renewing spending policies. Economic News USD – Dollar Continues to Slide The US dollar fell for a fourth straight session on Wednesday, hitting a fresh five-month low against the EUR, as traders brace for more weakness amid growing prospects for further U.S. monetary easing. By yesterday’s close, the USD … [visit site to read more]

Japanese Economy Threatened By China Rare Earth Metals Ban Posted: 30 Sep 2010 12:50 AM PDT Japanese authorities last Friday released from detention the captain of a Chinese fishing boat that was found in disputed waters. However, China continues to withhold exports of rare earth metals to its island neighbor. Rare earth metals are crucial to Japan’s high-tech industry, and the ban on shipments from China, which has been in place since Tuesday of last week, could cripple the country’s economy. There are 15 different types of rare earth metals, which are used in high-tech … [visit site to read more]

Stock Chart of The Day: China Northeast Petroleum Posted: 30 Sep 2010 12:45 AM PDT A word of caution about today’s Chart of the Day. It has recently been a highly volatile stock recently, so if you do decide to play it, please stick to your stops. That out of the way, let’s get down to today’s stock – China Northeast Petroleum (NEP). Below is the hourly chart since it resumed trading (apart from the very first hour). I really liked the action in this one today. It went up on impressive volume and consolidated nicely around the 5.75 mark. A break of 6 and this could … [visit site to read more]

Can Bond Run Much Further? Posted: 30 Sep 2010 12:19 AM PDT The bond market rally has prompted some market observers to declare that bonds are in a bubble. FT Alphaville pointed out that research from Morgan Stanley indicates that money flows into US bond mutual funds now exceed purchases of US stock funds that occurred at the height of the TMT (Tech-Media-Telecom) bubble: What is forgotten in this analysis is that the bond market is substantially larger than the stock market. The size of the US bond market is estimated to be between $31T … [visit site to read more]

Forex Trading: EUR/USD Testing Support Around 1.3565 Area Posted: 29 Sep 2010 11:54 PM PDT The EUR/USD pair has tested support around the 1.3565 area multiple times over the last two days and has tested the level once again with the last two hourly candlesticks. After making a session low of 1.3559, the pair has since bounced back and is currently trading near the 1.3600 level. If the upward momentum continues we may see it revisit the 0.0% fibo line at 1.3646. A close below this 1.3565 line may be a bearish signal for the pair in which case the first downside target would … [visit site to read more]

Crude Oil Rises As U.S. Inventory Surplus Declines, Gold Notches Yet Another Record High Posted: 29 Sep 2010 11:51 PM PDT Commodities – Energy Crude Oil Rises as U.S. Inventory Surplus Declines Crude Oil (WTI) – $77.71 // $0.15 // 0.19% Commentary: Crude oil reached the highest level since the middle of August on Wednesday, as the commodity advanced $1.68, or 2.21%. The catalyst seemed to be the weekly U.S. government inventory report which showed that crude oil inventories fell by 0.5 million barrels, gasoline inventories fell by 3.5 million barrels, distillate inventories fell by 1.3 million barrels, and total … [visit site to read more]

Momentum Stock: Priceline.com, Inc. Posted: 29 Sep 2010 11:05 PM PDT Priceline.com, Inc. (NASDAQ:PCLN) has been on an amazing rally for the last three months, more than doubling in price after jumping from $175 to over $350. With estimates on the rise and a bullish growth projection, PCLN looks like a serious momentum contender. Company Description Priceline.com, Inc. is an online travel company operating in the U.S., Europe and Asia. The company was founded in 1997 and has a market cap of $16 billion. Although PCLN has been trending higher for most of the last few … [visit site to read more]

Growth & Income Stock: Aflac Inc. Posted: 29 Sep 2010 11:05 PM PDT Aflac Inc. (NYSE:AFL) has huge brand recognition in the U.S. with its annoying white duck, but in Japan he is a superstar. Aflac – which stands for American Family Life Assurance Company – provides supplemental health and life insurance. Aflac insures one out of every four households in the Land of the Rising Sun, and approximately three-fourths of the company’s total revenue comes from there. Strong Earnings Growth Total revenue climbed 15.5% from the same quarter in 2009, including an 8.5% … [visit site to read more]

Aggressive Growth Stock: Modine Manufacturing Co Posted: 29 Sep 2010 11:05 PM PDT Modine Manufacturing Co (NYSE:MOD) is making the most of the September rally, thanks in large part to surging estimates. Company Description Modine Manufacturing Co. makes thermal management systems, offering heating and cooling solutions to the global automotive, industrial equipment and other end markets. Back in the Black Thanks in large part to the last quarterly report, analysts are expecting Modine Manufacturing to post a 29 cent profit this fiscal year. Last year the company lost 42 … [visit site to read more]

Bear Of The Day: Wilmington Trust (WL) Posted: 29 Sep 2010 11:05 PM PDT We have downgrading our long-term recommendation on Wilmington Trust (NYSE:WL) to Underperform based on deteriorating credit quality and its exposure to risky construction loans. Wilmington’s second quarter 2010 loss was substantially higher than the Zacks Consensus Estimate. Results were hurt primarily by higher loan loss provisions, increased non-interest expense and weakness in the commercial construction portfolio. However, strong growth in Corporate Client Services segment, improvement in … [visit site to read more]

Bull Of The Day: Discover Financial Services (DFS) Posted: 29 Sep 2010 11:05 PM PDT We are upgrading our recommendation on Discover Financial Services (NYSE:DFS) to Outperform based on the forthcoming Student Loan Corp. acquisition that should enhance its already strong student loan portfolio. Moreover, third quarter earnings were substantially ahead of the Zacks Consensus Estimate. Higher margin payment service volumes, lower loan loss provisions, higher interest yield, improvement in credit card usage with reduced defaults, and gains from the direct-to-consumer deposit business … [visit site to read more]

Singapore Stock Market Update For Thursday 30 September Posted: 29 Sep 2010 07:36 PM PDT Morning Highlights Singapore stock prices opened slightly lower cue on Wall Street weakness, with STI down 4.06 points to open at 3101.97. Expect choppy market ahead, hence, trade with cautious! Shares of Singapore’s property firms with exposure to China fell on Thursday after the world’s most-populous country introduced new measures to cool its real estate market, traders said. Watch Out For Economic News Today Japan August Industrial Production U.S Annualised GDP (Q2) U.S Q2 … [visit site to read more]

Three ETFs Influenced By Chinese Real Estate Posted: 29 Sep 2010 07:17 PM PDT As China continues to witness exponential economic growth, its real estate sector is following and the Chinese government is taking measures to curb the real estate boom potentially influencing the Guggenheim China Real Estate (TAO), the iShares FTSE EPRA/NAREIT Dev Asia Idx (NASDAQ:IFAS) and the Guggenheim China All-Cap (YAO). China's Finance Ministry recently announced that it will speed up the introduction of a trial property tax in certain cities before implanting the levy across the … [visit site to read more]

As America Faces Oppressive Debt, What’s In It For The Stock And Bond Markets? Posted: 29 Sep 2010 07:01 PM PDT Three decades’ worth of no-holds-barred credit led to oppressive debt for Americans and America. It left us a financial wreck; with our currency collapsing and efforts to spend our way back to prosperity stumbling at every turn. For more about Stansberry & Associates Investment Research Founder Porter Stansberry’s take on the perilous predicament—and his coping strategies—read this exclusive Energy Report interview. The Energy Report: The National Bureau of Economic Research … [visit site to read more]

No Will To Hire Posted: 29 Sep 2010 06:38 PM PDT Where there’s a will, there’s a way. – Old English proverb The picture being painted by snooty establishment types, especially those of the right-wing persuasion, is that there is something wrong with those who are having a difficult time finding work. Either they aren’t looking as hard as they should; they haven’t done a good job selling themselves; they aren’t flexible enough when it comes to compensation, location, title, etc.; or, they haven’t put enough effort into improving the … [visit site to read more]

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