Thursday, November 25, 2010

DailyMarkets.com - 11 Statistics That Reveal Just How Far The U.S. Economy Has Fallen Over The Past Four Years

DailyMarkets.com - 11 Statistics That Reveal Just How Far The U.S. Economy Has Fallen Over The Past Four Years

11 Statistics That Reveal Just How Far The U.S. Economy Has Fallen Over The Past Four Years

Posted: 25 Nov 2010 03:35 AM PST

As you gather around the table with your family this Thanksgiving, ask yourself this question: are you better off today than you were four years ago?  Unfortunately, most Americans are not.  Both political parties have controlled the White House during the last four years – Barack Obama has been in office for nearly two years and before him it was George W. Bush – and yet no matter what politicians we send to Washington D.C. things just seem to keep getting worse.  We buy more than we … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex – GBP/USD Hits 1-month Low After King Says U.K. Growth Uncertain

Posted: 25 Nov 2010 03:10 AM PST

Forex Pros – The pound was extended losses against the U.S. dollar on Thursday, falling to a 1-month low after the Bank of England Governor said there was “considerable uncertainty” about the future path of U.K. growth.

GBP/USD hit 1.5738 during European morning trade, the pair's lowest since October 27; the pair subsequently consolidated at 1.5747, shedding 0.14%.

Cable was likely to find support at 1.5690, the low of October 26 and resistance at 1.5865, the high of October … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Britain’s CBI Realized Sales Rise Unexpectedly

Posted: 25 Nov 2010 03:06 AM PST

Forex Pros – Retail sales in Britain rose unexpectedly in November, industry data showed on Thursday.

In a report the Confederation of British Industry said the result of its index of U.K. retailers rose to 43 in November, up from 36 in October.

Analysts had expected the index to decline to 35 in November.

On the index, a reading above zero indicates higher sales volume, below indicates lower. 

Commenting on the report, CBI Chief Economic Adviser Ian McCafferty said, "High street … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Stocks To Watch On Thursday: SAP, Oracle, Lloyds, RBS, British Airways, Amazon, Tiffany & Co

Posted: 25 Nov 2010 02:45 AM PST

Equities finished the session higher following better than expected jobless data and a stronger headline for the University of Michigan Confidence figure. Positive earnings from Deere & Co. (-0.14%) (NYSE:DE) and Tiffany & Co. (NYSE:TIF) (+5.25%) also helped to lift sentiment. In terms of individual corporate news, Amazon (+5.38%) (NASDAQ:AMZN) leads the NASDAQ 100, which is outperforming its peers ahead of the Thanksgiving sales and at the closing bell the DJIA closed up 1.37% at 11187.28, the … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex – AUD/USD Hits Daily Low Amid China Tightening Fears

Posted: 25 Nov 2010 02:43 AM PST

Forex Pros – The Australian dollar was down against its U.S. counterpart on Thursday after China's central bank said it was strengthening liquidity management as part of an ongoing effort to curb rapidly growing inflation.

AUD/USD hit 0.9762 during European morning trade, the daily low; the pair subsequently consolidated at 0.9790, shedding 0.27%.

The pair was likely to find support at 0.9716, Wednesday's low and resistance at 0.9882, Tuesday's high.

China's central bank deputy … [visit site to read more] or compare Best Credit Cards and Best CD Rates

European Stocks Mixed Amid Euro Zone Debt Concerns; DAX Up 0.18%

Posted: 25 Nov 2010 02:11 AM PST

Forex Pros – European stocks were mixed on Thursday, amid lingering concerns over euro zone sovereign debt contagion, while markets in the U.S. were to remain closed on Thursday for the Thanksgiving holiday.
 
During European morning trade, the EURO STOXX 50 fell 0.33%; France's CAC 40 declined 0.26%; while Germany’s DAX climbed 0.18%.

Shares in the financial sector declined as fears mounted that the EUR750 billion rescue mechanism created by the International Monetary Fund and the … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex – Dollar Mixed Vs. Rivals Ahead Of U.S. Holidays

Posted: 25 Nov 2010 01:49 AM PST

Forex Pros – The U.S. dollar was mixed against its major rivals on Thursday, as markets remained risk adverse amid lingering concerns over euro zone sovereign debt contagion and amid thin trade volumes.

During European morning trade, the greenback was up against the euro, with EUR/USD shedding 0.20% to hit 1.3308.

Concerns that Ireland's fiscal crisis could spread to other vulnerable euro zone members continued, even after the Irish government laid out an austerity budget which was … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex – USD/CHF Hits 2-month High Amid Thin Trade

Posted: 25 Nov 2010 01:24 AM PST

Forex Pros – The U.S. dollar was up against the Swiss franc on Thursday, rising to hit a 2-month high amid thin trade volumes and despite better-than-expected Swiss employment data.

USD/CHF hit 1.0001 during European morning trade, the pair's highest since September 21; the pair subsequently consolidated at 0.9991, gaining 0.28%.

The pair was likely to find support at 0.9898, Wednesday's low and resistance at 1.0073, the high of September 21.

Earlier Thursday, official data showed that … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Santa Fe Gold Trade: A Lesson Worth Learning

Posted: 25 Nov 2010 01:01 AM PST

Wednesday I sold Santa Fe Gold Corp (SFEG.OB) at $1.06 for a nice 6% gain.  I bought this position two weeks ago on November 8th, and from the moment of purchase until this afternoon, this stock position was under water the entire time.

I used my best TSI skills to time the purchase of SFEG, but instead of rewarding me the trade appeared to completely backfire.

Now here is the lesson I have learned well and perhaps a few readers would benefit from hearing it:  this is a … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex – USD/JPY Down Slightly Ahead Of U.S. Holiday

Posted: 25 Nov 2010 12:56 AM PST

Forex Pros – The U.S. dollar was down slightly against the yen on Thursday, slipping to a daily low as trade remained thin ahead of the U.S. Thanksgiving holiday.

USD/JPY hit 83.40 during early European trade, the daily low; the pair subsequently consolidated at 0.8350, shedding 0.02%.

The pair was likely to find support at 82.93, Wednesday's low and short-term resistance at 83.84, Tuesday's high.

Earlier in the day, official data showed that Japan's trade surplus unexpectedly … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Swiss Employment Level Rises Less-than-expected In Q3

Posted: 25 Nov 2010 12:23 AM PST

Forex Pros – The number of people employed in Switzerland rose less-than-expected in the third quarter, official data showed on Thursday.

In a report, the Swiss Federal Statistics Office said that the number of employed people in Switzerland rose to 3.41 million during the third quarter, up from 3.39 million in the preceding quarter, whose figure was revised down from 3.97 million.

Analysts had expected the Swiss employment level to rise to 3.98 million in the third quarter.

The report … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex – GBP/USD Edges Cautiously Higher In Thin Trade

Posted: 25 Nov 2010 12:14 AM PST

Forex Pros – The pound erased early losses against the U.S. dollar on Thursday, edging up slightly to hit a daily high amid thin trade before the U.S. Thanksgiving holiday.

GBP/USD clawed up from 1.5743, the daily low, to hit 1.5773 during late Asian trade, gaining 0.02%.

Cable was likely to find support at 1.5690, the low of October 26 and resistance at 1.5865, the high of October 27.

Concerns that Ireland's fiscal crisis could spread to other vulnerable euro zone members lingered, even … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Asia Stocks Advance On Commodities; Nikkei Up 0.50%

Posted: 24 Nov 2010 11:49 PM PST

Forex Pros – Asian stocks advanced on Thursday, as shares in the commodity sector led markets higher, while Japanese exporters rose amid indications the U.S. economic recovery was improving.

During late Asian trade, Hong Kong’s Hang Seng Index was up 0.20%, South Korea’s Kospi Composite gained 0.09%, while Japan's Nikkei 225 Index added 0.50%.

Shares in the energy sector performed strongly, as crude oil prices rallied to a 7-day high. Japan's biggest oil exporter Inpex saw shares jump … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex – EUR/USD Hovers Near 2-month Low As Euro Worries Simmer

Posted: 24 Nov 2010 11:37 PM PST

Forex Pros – The euro was down against the U.S. dollar on Thursday, hovering close to a 2-month low as worries about the euro zone debt crisis continued to fester, even after Ireland unveiled an ambitious austerity plan.

EUR/USD hit 1.3308 during late Asian trade, the daily low; the pair subsequently consolidated at 1.3324, shedding 0.07%.

The pair was likely to find support at 1.3247, the low of September 22 and resistance at 1.3420, Wednesday's high.

On Wednesday, Ireland's … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex – EUR/USD Down During The Asian Session

Posted: 24 Nov 2010 10:10 PM PST

Forex Pros – The Euro was lower against the U.S. Dollar on Thursday.

EUR/USD was trading at 1.3327, down 0.06% at time of writing.

The pair was likely to find support at 1.3285, Wednesday's low, and resistance at 1.3786, Monday's high.

Meanwhile, the Euro was up against the British Pound and down against the Japanese Yen, with EUR/GBP gaining 0.05% to hit 0.8458 and EUR/JPY falling 0.13% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex – GBP/USD Down During The Asian Session

Posted: 24 Nov 2010 09:25 PM PST

Forex Pros – The British Pound was lower against the U.S. Dollar on Thursday.

GBP/USD was trading at 1.5752, down 0.12% at time of writing.

The pair was likely to find support at 1.5741, Wednesday's low, and resistance at 1.6084, Monday's high.

Meanwhile, the British Pound was up against the Euro and down against the Japanese Yen, with EUR/GBP shedding 0.04% to hit 0.8451 and GBP/JPY falling 0.14% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex – USD/CHF Up During The Asian Session

Posted: 24 Nov 2010 08:50 PM PST

Forex Pros – The U.S. Dollar was higher against the Swiss Franc on Thursday.

USD/CHF was trading at 0.9962, up 0.01% at time of writing.

The pair was likely to find support at 0.9849, Tuesday's low, and resistance at 0.9990, Wednesday's high.

Meanwhile, the U.S. Dollar was up against the Euro and down against the Japanese Yen, with EUR/USD shedding 0.06% to hit 1.3327 and USD/JPY falling 0.03% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Important Relationship Between U.S. Dollar And Gold Signals Trend Change

Posted: 24 Nov 2010 08:34 PM PST

In a recent article, I wrote about important trend changes in the dollar and gold.

An important inverse inter-market relationship is continuing between the US dollar and gold. They have both broken trendlines simultaneously and are threatening a counter trend move. Other than yesterday's spike on a conflict in Korea, the dollar and gold have moved inversely and one appears to be bottoming while gold threatens to make a topping pattern.

PowerShares DB US Dollar Index Bullish Fund … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex – EUR/GBP Up During The Asian Session

Posted: 24 Nov 2010 08:20 PM PST

Forex Pros – The Euro was higher against the British Pound on Thursday.

EUR/GBP was trading at 0.8456, up 0.02% at time of writing.

The pair was likely to find support at 0.8428, Wednesday's low, and resistance at 0.8596, Monday's high.

Meanwhile, the Euro was down against the U.S. Dollar and the Japanese Yen, with EUR/USD shedding 0.03% to hit 1.3331 and EUR/JPY falling 0.08% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Crude Oil Surges As Support Holds, Gold Falls Slightly In Lackluster Session

Posted: 24 Nov 2010 07:51 PM PST

Commodities – Energy
Crude Oil Surges as Support Holds
Crude Oil (WTI) – $83.89 // $0.03 // 0.04%
Commentary: Crude oil surged $2.61, or 3.21%, to settle at $83.86 on Wednesday. Early in the session crude oil rose modestly as U.S. equity markets advanced on the back of a much better-than-expected reading on initial jobless claims. At 407K, weekly claims hit the lowest level in two years. This obviously bodes well for the U.S. labor market and the world's largest economy as a whole. Later, … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Stock Picks For Friday: Crocs, DryShips, Rambus, Atmel, Eastman Kodak, GigaMedia

Posted: 24 Nov 2010 07:41 PM PST

( click to enlarge )
The technical chart of Eastman Kodak (NYSE:EK) has become increasingly bullish and is currently consolidating in an attractive pattern. The stock is forming a symmetrical triangle with support at $4.70. From the chart above, we can see that the stock is in a short-term bull market with 13 day moving average on top over 50 day moving average and MACD above signal line. I am expecting a breakout at $4.87. A move past this level would be a strong indicator of a further … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex – USD/JPY Down During The Asian Session

Posted: 24 Nov 2010 07:40 PM PST

Forex Pros – The U.S. Dollar was lower against the Japanese Yen on Thursday.

USD/JPY was trading at 83.50, down 0.04% at time of writing.

The pair was likely to find support at 82.79, Tuesday's low, and resistance at 83.84, Tuesday's high.

Meanwhile, the U.S. Dollar was up against the Euro and the British Pound, with EUR/USD shedding 0.11% to hit 1.3321 and GBP/USD falling 0.07% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex – USD/CAD Up During The Asian Session

Posted: 24 Nov 2010 07:10 PM PST

Forex Pros – The U.S. Dollar was higher against the Canadian Dollar on Thursday.

USD/CAD was trading at 1.0104, up 0.05% at time of writing.

The pair was likely to find support at 1.0091, Wednesday's low, and resistance at 1.0265, Tuesday's high.

Meanwhile, the U.S. Dollar was up against the Euro and the British Pound, with EUR/USD shedding 0.13% to hit 1.3318 and GBP/USD falling 0.09% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex – AUD/USD Down During The Asian Session

Posted: 24 Nov 2010 06:30 PM PST

Forex Pros – The Australian Dollar was lower against the U.S. Dollar on Thursday.

AUD/USD was trading at 0.9785, down 0.34% at time of writing.

The pair was likely to find support at 0.9709, Tuesday's low, and resistance at 0.9954, Monday's high.

Meanwhile, the Australian Dollar was down against the Euro and the Japanese Yen, with EUR/AUD gaining 0.31% to hit 1.3622 and AUD/JPY falling 0.43% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates
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