Friday, December 24, 2010

DailyMarkets.com - Forex – AUD/USD Down During The European Session

DailyMarkets.com - Forex – AUD/USD Down During The European Session

Forex – AUD/USD Down During The European Session

Posted: 24 Dec 2010 03:05 AM PST

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

AUD/USD was trading at 1.0041, down 0.01% at time of writing.

The pair was likely to find support at 0.9864, Monday's low, and resistance at 1.0066, Thursday's high.

Meanwhile, the Australian Dollar was down against the Euro and up against the Japanese Yen, with EUR/AUD gaining 0.04% to hit 1.3065 and AUD/JPY rising 0.03% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex Markets Winding Down, But Fitch Downgrades Keep Coming

Posted: 24 Dec 2010 03:01 AM PST

As you'd expect on a day like today, there's very few signs of life in the FX market and what is more, there's very little expectation of improvement as the day goes on due to the US public holiday. Asia markets were extremely quiet, and, like yesterday afternoon the liquidity has been very thin and patchy.

Of the limited data on tap yesterday, Canadian GDP for October missed consensus at 0.2% MoM (vs. 0.3% expected), but objectively, this should still be seen as a very … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Mining Stocks To Watch In 2011

Posted: 24 Dec 2010 02:23 AM PST

There is a growing scarcity of available precious metal mines in the world. The old majors such as Barrick (NYSE:ABX), Goldcorp (NYSE:GG), and Newmont Mining (NYSE:NEM) are facing diminishing reserves in their existing mines. They are mature miners and their pockets are bulging with cheap dollars. Moreover, these majors are competing with the Chinese, Russians, Japanese, and Koreans who have all shown an interest in expanding their precious metals assets and diverting assets away from paper … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex – USD/CHF Up During The European Session

Posted: 24 Dec 2010 02:20 AM PST

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

USD/CHF was trading at 0.9622, up 0.34% at time of writing.

The pair was likely to find support at 0.9498, Thursday's low, and resistance at 0.9720, Monday's high.

Meanwhile, the U.S. Dollar was down against the Euro and the Japanese Yen, with EUR/USD gaining 0.02% to hit 1.3116 and USD/JPY falling 0.02% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Singapore Exchange Shares Break Support Level

Posted: 24 Dec 2010 02:13 AM PST

On the 16 Dec, I made a move to buy Singapore Exchange Limited @ $8.40. At that price SGX will be trading near a support level but now this counters seems to have dropped further. Looking at the chart, SGX can now drop to a level around $8.00. If $8.00 doesn't hold, the next support will be around $7.70.

It's time to admit a bad call and cut our losses.

Sell SGX @ … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Global Economy – Yes, It’s Growing

Posted: 24 Dec 2010 01:48 AM PST

The Recession Status Map below, courtesy of Moody's Analytics Dismal Scientist, aggregates growth statistics from around the world and allows one to see at a glance which economies are in recession, at risk, recovering or expanding. Click here on the map to link to the interactive version. Following the "Great Recession", it is clear that most countries are either recovering or expanding.

The map seems to be consistent with the results of the latest Survey of Business Confidence of the … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Jim O’Neill – Goldman’s Vocal Bull

Posted: 24 Dec 2010 01:47 AM PST

People are reacting to every sign of bad news in the market as though it were the outlier of another financial crisis, says Jim O'Neill, Goldman Sachs Asset Management chairman. In this CNBC interview, he explains why he is increasingly optimistic about the outlook for … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Quote Du Jour: Rising Oil = Head Wind

Posted: 24 Dec 2010 01:46 AM PST

The crude oil price has been scaling new recovery highs over the past few days and indications are that the trend is solidly up. Although oil is marching higher as a result of increased demand, an increasing price also represents a head wind for the economy – almost like an additional tax. Here is why:
"Every $1 per barrel rise in oil decreases U.S. GDP by about $100 billion per year, and every one cent increase in the gasoline price decreases U.S. consumer disposable income by about $600 … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Hulbert’s Top Advisers Bullish On 2011

Posted: 24 Dec 2010 01:42 AM PST

Mark Hulbert says the advisers that he tracks who have the best records are now very … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Picture Du Jour: Stock Market Rally – Long In The Tooth?

Posted: 24 Dec 2010 01:41 AM PST

The chart below, courtesy of Chart of the Day, compares the inflation-adjusted S&P 500 performance during the current secular bear market (the inflation-adjusted S&P 500 peaked in 2000) to the that following the peak of 1929 (i.e. during the Great Depression).
The S&P 500 for both 2000 to present (blue line) and 1929 to 1949 (gray line) have been normalized to where each of the peaks begins in year zero and at the $100 level.
"What is of interest is not that both of these markets … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Stock Market Outlook: If Past Is A Prologue …

Posted: 24 Dec 2010 01:39 AM PST

At last a contrarian view! The report below comes from Pragmatic Capitalist.
Past is prologue … At least that's what strategists at CitiGroup are saying. In a recent note they highlighted the three past market environments that most closely resembled the current environment.  Unlike just about every investor in the world right now (and every other analyst), they believe January and 2011 could have some surprises in store for us:

•  Over the course of this year we have … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Jim Rogers On China

Posted: 24 Dec 2010 01:36 AM PST

The financier remains bullish on China saying despite a real estate bubble, there are "better thing to come" for the … [visit site to read more] or compare Best Credit Cards and Best CD Rates

China’s Growth In Perspective

Posted: 24 Dec 2010 01:35 AM PST

The three China maps shown below, courtesy of U.S. Global Investors – Weekly Investor Alert, illustrate countries that have equal GDP to Chinese provinces in 2000, 2009 and 2020. In 2000, China's union of provinces was similar to poor, developing countries. By 2009, China had grown into a union of provinces similar to many booming, developing countries. By 2020, it is projected that China GDP will be the sum of top-tier developing countries.
A picture speaks a thousand words … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex – USD/JPY Down During The European Session

Posted: 24 Dec 2010 01:30 AM PST

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

USD/JPY was trading at 82.90, down 0.03% at time of writing.

The pair was likely to find support at 82.86, Thursday's low, and resistance at 84.12, Monday's high.

Meanwhile, the U.S. Dollar was down against the Euro and the British Pound, with EUR/USD gaining 0.18% to hit 1.3138 and GBP/USD rising 0.19% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex – EUR/USD Up During The European Session

Posted: 24 Dec 2010 12:55 AM PST

Forex Pros – The Euro was higher against the U.S. Dollar on Friday.

EUR/USD was trading at 1.3139, up 0.19% at time of writing.

The pair was likely to find support at 1.3056, Thursday's low, and resistance at 1.3201, Tuesday's high.

Meanwhile, the Euro was down against the British Pound and up against the Japanese Yen, with EUR/GBP shedding 0.01% to hit 0.8500 and EUR/JPY rising 0.18% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Laugh Out Loud: Xmas Socks

Posted: 24 Dec 2010 12:31 AM PST

Forex – GBP/USD Up During The European Session

Posted: 24 Dec 2010 12:10 AM PST

Forex Pros – The British Pound was higher against the U.S. Dollar on Friday.

GBP/USD was trading at 1.5466, up 0.24% at time of writing.

The pair was likely to find support at 1.5357, Wednesday's low, and resistance at 1.5577, Monday's high.

Meanwhile, the British Pound was up against the Euro and the Japanese Yen, with EUR/GBP shedding 0.10% to hit 0.8492 and GBP/JPY rising 0.31% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex – EUR/USD Up During The Asian Session

Posted: 23 Dec 2010 10:10 PM PST

Forex Pros – The Euro was higher against the U.S. Dollar on Friday.

EUR/USD was trading at 1.3117, up 0.02% at time of writing.

The pair was likely to find support at 1.3056, Thursday's low, and resistance at 1.3201, Tuesday's high.

Meanwhile, the Euro was up against the British Pound and the Japanese Yen, with EUR/GBP gaining 0.02% to hit 0.8502 and EUR/JPY rising 0.10% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates

AMB Property’s New Brazil Fund

Posted: 23 Dec 2010 10:05 PM PST

AMB Property Corp. (NYSE:AMB), a leading real estate investment trust (REIT), has recently formed AMB Brazil Logistics Partners Fund I, L.P. to develop, acquire, own, operate and manage logistics properties in Brazil focusing primarily on Sao Paulo and Rio de Janeiro markets. The strategic move is aimed to capitalize on the economic growth of Brazil that has led to a spurt in demand for high-quality logistics facilities.
The overall equity commitment in the fund is approximately $422 million and … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex – GBP/USD Up During The Asian Session

Posted: 23 Dec 2010 09:25 PM PST

Forex Pros – The British Pound was higher against the U.S. Dollar on Friday.

GBP/USD was trading at 1.5431, up 0.01% at time of writing.

The pair was likely to find support at 1.5357, Wednesday's low, and resistance at 1.5577, Monday's high.

Meanwhile, the British Pound was down against the Euro and up against the Japanese Yen, with EUR/GBP gaining 0.08% to hit 0.8506 and GBP/JPY rising 0.10% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Week Ahead: US Consumer Confidence, Case-Shiller HPI, Pending Home Sales, Chicago PMI

Posted: 23 Dec 2010 09:00 PM PST

12/24/10 The stories, data and stocks that may have the greatest impact during the upcoming trading … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Crude Oil Hits New 27-Month Highs, Gold Holds Steady In Muted Trade

Posted: 23 Dec 2010 08:51 PM PST

Commodities – Energy
Crude Oil Hits New 27-Month Highs
Crude Oil (WTI) – $91.51 // $1.03 // 1.14%
Commentary: Crude oil rose for a fifth straight session on Thursday, adding $1.03, or 1.14%, to settle at $91.51 ahead of the three-day holiday weekend. Prices are now at a 27-month high and are back in price discovery mode after consolidating between $87 and $90 for almost three weeks. The theme underlying these price advances in all risk assets, not just crude, is general economic optimism. … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Why Not Make It A Green Holiday? Give A Climate-Friendly Green Gift Of Carbon Offsets This Year

Posted: 23 Dec 2010 08:51 PM PST

Doing some last minute Christmas shopping and looking for a special gift for that special friend or relative who seems to have everything? Well, why not reduce their carbon footprint and buy them a carbon offset certificate this year? Make it a Green Holiday, find out more … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex – USD/CHF Down During The Asian Session

Posted: 23 Dec 2010 08:50 PM PST

Forex Pros – The U.S. Dollar was lower against the Swiss Franc on Friday.

USD/CHF was trading at 0.9564, down 0.26% at time of writing.

The pair was likely to find support at 0.9498, Thursday's low, and resistance at 0.9720, Monday's high.

Meanwhile, the U.S. Dollar was down against the Euro and up against the Japanese Yen, with EUR/USD gaining 0.12% to hit 1.3130 and USD/JPY rising 0.07% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex – EUR/GBP Up During The Asian Session

Posted: 23 Dec 2010 08:20 PM PST

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

EUR/GBP was trading at 0.8506, up 0.06% at time of writing.

The pair was likely to find support at 0.8447, Monday's low, and resistance at 0.8526, Thursday's high.

Meanwhile, the Euro was up against the U.S. Dollar and the Japanese Yen, with EUR/USD gaining 0.11% to hit 1.3129 and EUR/JPY rising 0.24% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Stock Market Summary For Thursday, December 23, 2010

Posted: 23 Dec 2010 08:06 PM PST

Today (Wednesday) was another quiet day on Wall Street with low pre-holiday trade.  Markets are closed tomorrow and will re-open on Monday.  We are expecting more of the same type of low trading activity next week as 2010 comes to an end.  From a support level perspective we are going to raise the support level on the S&P 500 to 1,242 and for the second day in a row raise the support level on the Nasdaq Composite to 2,638.  We are keeping the support level on the DJIA the … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Training College Graduates For Dependency By Counterfeiting Genuine Accomplishment

Posted: 23 Dec 2010 07:54 PM PST

Some excerpts from “The College Degree Fraud,” by Robert Weissberg, Professor of Political Science-Emeritus, University of Illinois:

“For more than a half-century, government has tried to close racial gaps in educational attainment. Sad to say, those gaps have proven intractable. Nevertheless, the impulse remains as heartfelt as ever (perhaps due to its financially lucrative character), but the emphasis is now shifting from actual learning to equality of graduation rates. President Obama has … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex – USD/JPY Up During The Asian Session

Posted: 23 Dec 2010 07:40 PM PST

Forex Pros – The U.S. Dollar was higher against the Japanese Yen on Friday.

USD/JPY was trading at 83.01, up 0.11% at time of writing.

The pair was likely to find support at 82.86, Thursday's low, and resistance at 84.12, Monday's high.

Meanwhile, the U.S. Dollar was down against the Euro and the British Pound, with EUR/USD gaining 0.13% to hit 1.3131 and GBP/USD rising 0.05% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex – USD/CAD Down During The Asian Session

Posted: 23 Dec 2010 07:10 PM PST

Forex Pros – The U.S. Dollar was lower against the Canadian Dollar on Friday.

USD/CAD was trading at 1.0082, down 0.11% at time of writing.

The pair was likely to find support at 1.0072, Thursday's low, and resistance at 1.0209, Monday's high.

Meanwhile, the U.S. Dollar was down against the Euro and the British Pound, with EUR/USD gaining 0.10% to hit 1.3127 and GBP/USD rising 0.10% 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: 23 Dec 2010 06:30 PM PST

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

AUD/USD was trading at 1.0027, down 0.15% at time of writing.

The pair was likely to find support at 0.9864, Monday's low, and resistance at 1.0066, Thursday's high.

Meanwhile, the Australian Dollar was down against the Euro and up against the Japanese Yen, with EUR/AUD gaining 0.25% to hit 1.3092 and AUD/JPY rising 0.02% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Australian Dollar: Under Pressure

Posted: 23 Dec 2010 06:23 PM PST

Update on supports and resistances. … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Canadian Dollar: Rebound In Sight

Posted: 23 Dec 2010 06:23 PM PST

Update on supports and resistances. … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Swiss Franc: Rebound Expected

Posted: 23 Dec 2010 06:23 PM PST

Update on supports and resistances. … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Japanese Yen: Caution

Posted: 23 Dec 2010 06:23 PM PST

Update on supports and resistances. … [visit site to read more] or compare Best Credit Cards and Best CD Rates

British Pound: Rebound

Posted: 23 Dec 2010 06:23 PM PST

Update on supports and resistances. … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Euro: Rebound

Posted: 23 Dec 2010 06:23 PM PST

Update on supports and resistances. … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Sour Crop Year

Posted: 23 Dec 2010 06:21 PM PST

Today’s Idea
Sugar supplies remain tight and will likely remain extremely tight going forward, barring a sharp turnaround in weather conditions. The chart appears as though prices may be breaking out, however there has been no confirmation. For this reason, some traders may wish to take a cautious approach and enter into an options spread with limited risk. Some traders may wish to buy the Feb Sugar 33.50 calls and sell the Feb 34.00 calls for a debit of 0.20, or $224. The trade risks the … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex – EUR/USD Up During The Asian Session

Posted: 23 Dec 2010 06:05 PM PST

Forex Pros – The Euro was higher against the U.S. Dollar on Friday.

EUR/USD was trading at 1.3131, up 0.13% at time of writing.

The pair was likely to find support at 1.3056, Thursday's low, and resistance at 1.3201, Tuesday's high.

Meanwhile, the Euro was up against the British Pound and the Japanese Yen, with EUR/GBP gaining 0.01% to hit 0.8500 and EUR/JPY rising 0.27% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex – EUR/JPY Up During The Asian Session

Posted: 23 Dec 2010 05:35 PM PST

Forex Pros – The Euro was higher against the Japanese Yen on Friday.

EUR/JPY was trading at 109.02, up 0.25% at time of writing.

The pair was likely to find support at 108.46, Thursday's low, and resistance at 110.71, Monday's high.

Meanwhile, the Euro was up against the U.S. Dollar and the British Pound, with EUR/USD gaining 0.08% to hit 1.3124 and EUR/GBP rising 0.02% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex – GBP/JPY Up During The Asian Session

Posted: 23 Dec 2010 04:45 PM PST

Forex Pros – The British Pound was higher against the Japanese Yen on Friday.

GBP/JPY was trading at 128.30, up 0.30% at time of writing.

The pair was likely to find support at 127.46, Thursday's low, and resistance at 130.49, Monday's high.

Meanwhile, the British Pound was up against the U.S. Dollar and the Euro, with GBP/USD gaining 0.06% to hit 1.5439 and EUR/GBP falling 0.04% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex – NZD/USD Up During The Asian Session

Posted: 23 Dec 2010 03:50 PM PST

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

NZD/USD was trading at 0.7478, up 0.07% at time of writing.

The pair was likely to find support at 0.7347, Monday's low, and resistance at 0.7501, today's high.

Meanwhile, the New Zealand Dollar was up against the Australian Dollar and the Euro, with AUD/NZD shedding 0.19% to hit 1.3412 and EUR/NZD falling 0.03% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Outlook 2011: Crude Oil & Gasoline, Escalator Up And Elevator Down

Posted: 23 Dec 2010 02:52 PM PST

Just in time for Christmas, On Wednesday, Dec. 22, U.S. gasoline prices hit an average $3 a gallon for the first time in more than two years, according to AAA’s Daily Fuel Gauge Report. Meanwhile, U.S. stocks and oil also climbed to the highest levels since 2008.

Crude = 71% of Gasoline Price

Crude oil is the biggest component, and accounts for about 71% of the price of gasoline as of Nov. 2010, based on EIA estimate (Fig. 1).  Roughly, for every one dollar increase in the … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex – EUR/USD Up At The End Of U.S. Session

Posted: 23 Dec 2010 01:55 PM PST

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

EUR/USD was trading at 1.3114, up 0.11% at time of writing.

The pair was likely to find support at 1.3056, today's low, and resistance at 1.3201, Tuesday's high.

Meanwhile, the Euro was down against the British Pound and the Japanese Yen, with EUR/GBP shedding 0.18% to hit 0.8499 and EUR/JPY falling 0.68% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex – USD/JPY Down Toward The End Of U.S. Session

Posted: 23 Dec 2010 01:40 PM PST

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

USD/JPY was trading at 82.95, down 0.75% at time of writing.

The pair was likely to find support at 82.86, today's low, and resistance at 84.12, Monday's high.

Meanwhile, the U.S. Dollar was down against the Euro and the British Pound, with EUR/USD gaining 0.13% to hit 1.3116 and GBP/USD rising 0.27% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Closing Bell Market Monitor: JAS, NVO

Posted: 23 Dec 2010 01:30 PM PST

12/23/10 The latest in news, commentary, and information on what’s moving the US equities markets. Watch this broadcast LIVE at 4:00 pm EST daily @ … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex – EUR/USD Up Toward The End Of U.S. Session

Posted: 23 Dec 2010 01:25 PM PST

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

EUR/USD was trading at 1.3118, up 0.15% at time of writing.

The pair was likely to find support at 1.3056, today's low, and resistance at 1.3201, Tuesday's high.

Meanwhile, the Euro was down against the British Pound and the Japanese Yen, with EUR/GBP shedding 0.15% to hit 0.8502 and EUR/JPY falling 0.62% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates

U.S. Markets Mixed At Close; Dow Jones Up 0.12%

Posted: 23 Dec 2010 01:10 PM PST

Forex Pros – U.S. stocks were mixed after the closing bell on Thursday.

At the close of U.S. trade, the Dow Jones Industrial Average rose 0.12%, the S&P 500 index shed 0.16%, while the Nasdaq 100 index declined 0.25%.

Meanwhile, across the Atlantic, European stock markets were mixed at close. France's CAC 40 was down 0.21%; Germany's DAX shed 0.14%; Britain's FTSE 100 climbed 0.21%; and the EURO STOXX 50 fell … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Facts Of The Day: From Forced-Union To RTW States

Posted: 23 Dec 2010 01:08 PM PST

Based on the results of the 201o Census, eight U.S. states will gain a total of 12 House districts, and 10 states will lose those 12 Congressional seats.  

Fact 1: Of the 8 states that will gain districts (Nevada, Arizona, Utah, Texas, Florida, Georgia, South Carolina and Washington), all states except Washington are Right-to-Work states.   

Fact 2: Of the 10 states that will lose districts (Pennsylvania, New York, Ohio, Illinois, Iowa, Louisiana, Massachusetts, Michigan, … [visit site to read more] or compare Best Credit Cards and Best CD Rates

“Do I Feed The Kids Or Pay The Utilities?”

Posted: 23 Dec 2010 01:04 PM PST

Intoxicated by the smell of Fed-created funny money and enthralled by visions of bonuses and bull markets, policymakers, punters and pundits have been getting excited about prospects for a post-recession change in consumer spending behavior.
Something tells me, however, that the choices Americans are being faced with nowadays, as detailed in the following Huffington Post commentary, ”The New Faces of Poverty,” by the president of the Children’s Defense Fund, are not exactly what … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex – GBP/USD Up During The U.S. Session

Posted: 23 Dec 2010 12:45 PM PST

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

GBP/USD was trading at 1.5429, up 0.29% at time of writing.

The pair was likely to find support at 1.5357, Wednesday's low, and resistance at 1.5577, Monday's high.

Meanwhile, the British Pound was up against the Euro and down against the Japanese Yen, with EUR/GBP shedding 0.14% to hit 0.8502 and GBP/JPY falling 0.51% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Risk-on-risk-off

Posted: 23 Dec 2010 12:33 PM PST

In a sense there is no doubting the risk-on tone in pre-holiday trading as optimistic investors have driven the S&P 500 index back above the point at which it was trading ahead of the watershed collapse of Lehman Brothers. Evolving confidence that the U.S. economy really is pulling away from those dark days is also reflected in growing industrial production at Asian plants whose number one customer is of course the U.S. consumer. Risk appetite is thereby sapping demand for the dollar as … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Bonds Soggy After Plosser Comments

Posted: 23 Dec 2010 12:33 PM PST

Yields are firmer around the world ahead of a long holiday weekend following bullish comments from the head of one of the Fed’s regional banks. When the Fed announced in November its $600 billion plan to purchase bonds it hinted that that the number might change and while many predicted this number could be massaged upwards, few looked the other way. Charles Plosser said that the Fed might be forced to stop buying prematurely if his rosy projections for 2011 are anything to go by. Losses for … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex – USD/CAD Down During The U.S. Session

Posted: 23 Dec 2010 12:05 PM PST

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

USD/CAD was trading at 1.0101, down 0.32% at time of writing.

The pair was likely to find support at 1.0072, today's low, and resistance at 1.0209, Monday's high.

Meanwhile, the U.S. Dollar was down against the Euro and the British Pound, with EUR/USD gaining 0.10% to hit 1.3112 and GBP/USD rising 0.26% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Consumer Spending Above Pre-Recession Level

Posted: 23 Dec 2010 11:23 AM PST

Real personal consumption expenditures increased by 2.77% in November from a year earlier, to $9.432 billion, according to today’s BEA report.  This was the largest increase in spending since a 2.96% yearly gain in January 2007, and lifted consumption spending above the pre-recession peak of $9.355 billion in December of 2007, when the recession officially started (see chart above).  The U.S. consumer is … [visit site to read more] or compare Best Credit Cards and Best CD Rates

The Demand Index And The Light Switch

Posted: 23 Dec 2010 11:16 AM PST

Today’s market action gives me an opportunity to follow up on the post I did earlier this morning about the Demand Index.  This 30 minute chart of the SP-500 futures was snapped just a few minutes ago and uses a True  Strength Index magnification of (25,13) and a Demand Index setting of (13).

This chart should give you an idea of the power and potential usefulness of the Demand Index…..  

Light switch on (positive indicator reading means buying pressure exceeds selling … [visit site to read more] or compare Best Credit Cards and Best CD Rates

“Data Shows: Economy Growing Slowly”

Posted: 23 Dec 2010 05:45 AM PST

12/23/10 DME Securities’ Alan Valdes weighs in on today’s slew of US data releases, and expectations for the final week of … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Risk Aversion Strong On Mixed Data

Posted: 23 Dec 2010 05:25 AM PST

12/23/10 Mixed economic reports including an improvement in jobless claims and a smaller-than-expected rise in existing home sales have helped pave the way for another session of investors seeking out safer-haven … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Bullish Risk Reversal Player Eyes Hess Corp.

Posted: 23 Dec 2010 10:17 AM PST

Bullish risk reversal player eyes Hess Corp.
Today’s tickers: HES, NOK, AES & NBG
Hess Corp. (NYSE:HES) – The energy company appeared on our scanners this morning after one options strategist initiated a bullish risk reversal in the February 2011 contract. Shares in Hess Corp. are currently down 0.45% to arrive at $75.82 as of 12:40pm. It looks like the investor responsible for the transaction sold 2,500 puts at the February 2011 $65 strike for a premium of $0.53 each, in order to buy the same … [visit site to read more] or compare Best Credit Cards and Best CD Rates

St. Louis Fed Financial Stress Index Returns To Pre-Recession, Pre-Financial Crisis Levels

Posted: 23 Dec 2010 09:31 AM PST

The St. Louis Federal Reserve updated its Financial Stress Index today for the week ending December 17, see chart above (data here).  For those who don’t like the CBOE VIX Index as a measure of stock market uncertainty or volatility, this is an alternative measure of the amount of financial stress affecting the markets (explanation here) based on 18 individual variables including seven different interest rates, six interest rate yield spreads, and five measures of market volatility … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex Trading: USDCHF Rises Sharply Today But Find Sellers Against Trend Line Resistance

Posted: 23 Dec 2010 09:02 AM PST

The USDCHF lost some of the safe haven action today and the pair has moved sharply higher.  The sharp move higher took the price above the 100 and 200 hour MA and tested a trend line resistance before finding profit takers who willingly sold the market back lower.
In the last couple hours the price has moved back down to test the 100 hour MA at the 0.9600 area but has been able to hold support.  As a result, the bias remains bullish/corrective above this level.  A move below the … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex Trading: USDJPY’s Breaking Of The 100 Day MA Leads To Fall

Posted: 23 Dec 2010 08:22 AM PST

The breaking of the 100 day MA today at 83.45, has led to some momentum selling in the USDJPY but the pair still goes with some kicking and screaming. The kicking and screaming came in the form of a sharp correction in the early NY session that saw the price move back higher to test the key 83.45 level.  Failure to push back through the level has led to a reestablishment of the bearish bias and the price is back down testing the 83.00 level.  The low for the day comes in at 82.85 and … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Printing Money

Posted: 23 Dec 2010 08:22 AM PST

Figuratively
(This post is about printing money figuratively. It should be considered Part II of the previous post about the literal printing of money.)
The biggest argument against the Fed's new round of monetary easing, dubbed QE2, accuses the Fed of printing money, a rare draconian measure bound to create high inflation and a weak dollar.
The Fed, of course, does not literally print money. In my previous post, I explained the process of how money gets printed and into circulation. … [visit site to read more] or compare Best Credit Cards and Best CD Rates

US Dollar Holds Gains Vs EUR Post Data, CHF Weakens Today, AUD Above Parity

Posted: 23 Dec 2010 08:20 AM PST

1. USD Holds NY Gains Following Spending, Orders and Jobs Data
The US released several reports on the economy today, measure of consumer spending and incomes, weekly jobless claims, and durable goods orders.
Here's a breakdown of the 3 reports:

Personal spending rose 0.4% in November, a tad under expectations, but still a strong reading, showing continued strong growth in the consumer spending sector for the middle month in the 4th quarter. We also have an interesting revision, in the the … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex Trading: GBPUSD: Watching The 200 Day MA

Posted: 23 Dec 2010 08:12 AM PST

Yesterday, the price moved below and closed just below the 200 day MA. Today, the price is trading around the key technical level as the combination of the holiday week and the importance of the level keeps traders content with pausing at the key level.  Nevertheless, the level remains a key borderline level for bullish or bearish bias and a close below the level should keep the bias firmly to the downside.  Conversely a close above the key 1.5391 level should cause some profit … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Crude Trades Near 2-year High

Posted: 23 Dec 2010 02:47 AM PST

12/23/10 Front month crude prices once again remained just under the $91 a barrel mark as optimism over the US economy has led the way for a speculated boost in … [visit site to read more] or compare Best Credit Cards and Best CD Rates

US Nov. New Home Sales Climb 5.5%, But Sector Still Depressed

Posted: 23 Dec 2010 07:45 AM PST

The US housing market for new homes continues to signal weakness. In November new home sales increased by 5.5% to an annual pace of 290K. That was lower than forecasts of a 6.0% increase to 300K. Also, October's reading was revised lower as well.

As we can see from this table, the sales rate has been weaker ever since the expiration of the government's home-buyer tax credit (effects of that can be seen starting in May).
Uncertainty about the direction of home price has discouraged … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex Trading: EURUSD Remains Quietly Bearish

Posted: 23 Dec 2010 07:34 AM PST

The EURUSD remains in a shallow downward channel this week. The price tested the 100 hour MA (blue line in the chart below) and trendline earlier today – providing a low risk trading opportunity (see hourly chart below). The pair has resumed the move lower and looks to target the 1.3040 level where the bottom of the channel currently comes in.

Taking a look at the daily chart below, the price has moved back below the key 200 day MA (green line in the chart below) currently at the 1.3091 area … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Opening Bell Market Monitor: AIB, JAS, BBBY, ROVI, SNIC

Posted: 23 Dec 2010 02:30 AM PST

12/23/10 The latest in news, commentary, and information on what’s moving the US equities … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Strong 3Q Sales For Bed Bath & Beyond

Posted: 23 Dec 2010 02:30 AM PST

12/23/10 Late Wednesday, Bed Bath & Beyond Inc. announced that its fiscal 3Q profit rose … [visit site to read more] or compare Best Credit Cards and Best CD Rates

FX Levels And Outlooks 12.23.2010 USD/CAD AUD/USD Gold

Posted: 23 Dec 2010 07:05 AM PST

USD/CAD – Near-term target of 1.0100Resistance 1: 1.020; R2 1.0260
Support pivot 1: 1.0150; S2: 1.0100

- The bearish scenario is developing but in a very choppy manner. The market was supported at 1.0110, and wanted to retest the double top below 1.02.
- To start the US session, the market found resistance just above 1.0160. The price high is lower, but the corresponding RSI high is higher, though remained below 60.
- This is a classic negative reversal signal, looking for the market to … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Christina Aguilera, Dr. John: Merry Christmas Baby

Posted: 23 Dec 2010 06:32 AM PST

The Demand Index & The Prospects For Gold/Silver

Posted: 23 Dec 2010 06:23 AM PST

Today I would like to introduce you to an indicator I have not written about before.  It is called the Demand Index and was invented by James Sibbet.  As with the True Strength Index (TSI) indicator, I have used the Demand Index indicator for about the past 4 years.  Interestingly, its interpretation is very similar to that of the TSI.  When the indicator reads above ZERO, buying pressure is greater than selling pressure, and the opposite when below ZERO.  It does lend … [visit site to read more] or compare Best Credit Cards and Best CD Rates

FX Levels And Outlooks 12.23.2010 GBP/JPY EUR/JPY EUR/GBP

Posted: 23 Dec 2010 06:22 AM PST

GBP/JPY Cracks 128.00
Resistance 1: 128.50-128.60; R2: 129.50-129.60; R3: 130;
Support 1: 127.50;  S2: 126.50

- The GBP/JPY has reached and broken below the 128.00 target. Then, it established a minor pivot at 127.50, with a strong bullish candle that can suggest a correction. However if this candle is reversed more than 61.8% in the next few hours, it is invalid, and the GBP/JPY pair is heading lower towards 126.50, the next support below the 128.00 area.
- Also if the current rally … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Bonds Soggy After Plosser Comments

Posted: 23 Dec 2010 06:22 AM PST

Yields are firmer around the world ahead of a long holiday weekend following bullish comments from the head of one of the Fed’s regional banks. When the Fed announced in November its $600 billion plan to purchase bonds it hinted that that the number might change and while many predicted this number could be massaged upwards, few looked the other way. Charles Plosser said that the Fed might be forced to stop buying prematurely if his rosy projections for 2011 are anything to go by. Losses for … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Christmas Card From The Stock Market: The CBOE Volatility Index Returns To Pre-Crisis 2007 Levels

Posted: 23 Dec 2010 06:18 AM PST

The CBOE Volatility Index (VIX) is a “key measure of market expectations of near-term volatility conveyed by S&P 500 stock index option prices. Since its introduction in 1993, VIX has been considered by many to be the world’s premier barometer of investor sentiment and market volatility.”

The VIX Index closed yesterday at 15.45, the lowest closing value for the stock market’s “fear index” since July 19, 2007, almost three and-a-half years ago.  A little more than two years ago, the … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Risk-on-risk-off

Posted: 23 Dec 2010 05:41 AM PST

In a sense there is no doubting the risk-on tone in pre-holiday trading as optimistic investors have driven the S&P 500 index back above the point at which it was trading ahead of the watershed collapse of Lehman Brothers. Evolving confidence that the U.S. economy really is pulling away from those dark days is also reflected in growing industrial production at Asian plants whose number one customer is of course the U.S. consumer. Risk appetite is thereby sapping demand for the dollar as … [visit site to read more] or compare Best Credit Cards and Best CD Rates

FX Levels And Outlooks 12.23.2010 – EUR/USD GBP/USD USD/JPY

Posted: 23 Dec 2010 05:33 AM PST

EUR/USD in Triangle PatternResistance pivot: 1.3150; R2: 1.3180-1.32
Support zone: 130.80;  S2: 129.70; S3: 129.20

- The EUR/USD indeed has flattened from the recent decline into a triangle.
- As the triangle is developed, there is an extended negative reversal that points to another bearish attempt. The bearish scenario remains, as the RSI remains below 60, and the latest retracement was completed right near the 61.8% fibonacci retracement level.
- There is a lot of support here down … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Doyle Holiday Cheer

Posted: 23 Dec 2010 04:58 AM PST

What do you get when you put five Irish guys involved in finance around a table?
1. A lot of laughs.
2. Varied opinions.
3. Interesting insights.
4. A mix of plenty BS and zero BS depending on the topic.
5. Real bonding and true friendship.
6. 'Sense on cents.'
7. All of the above.
Well, last evening 4 of my 7 brothers and I got together with our respective families, including 16 nieces and nephews, for some Doyle holiday cheer. We covered all of the points highlighted above, plus some. … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Investment Postcards – Temporary Snooze …

Posted: 23 Dec 2010 04:32 AM PST

My computer has decided to follow the example of financial markets and take a Christmas snooze. What a bummer! The latest bunch of posts can therefore unfortunately not be published today and will only appear on the site during the course of tomorrow.
As always, I sincerely apologize for any inconvenience.
In the meantime, boys and girls, don't get carried away by the avalanche of bullish stock market predictions for 2011, and remember to keep those tight stops in place and not to throw … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Relevant Question For Active ETFs Is “When”, Not “If”

Posted: 23 Dec 2010 04:30 AM PST

As the ETF industry in the US finally crossed the $1 trillion mark, a big milestone, the question has turned to where the next trillion is going to come from. And there is no shortage of potential answers to that question because the pace of innovation in the ETF space continues to be rapid. More and more new ideas come to market and they get instant feedback in the form of investor dollars that either flow in or stay out of those new products. Lee Kranefuss, ex-CEO of iShares, spoke to Olivier … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Year In Review: How The 7 Active ETF Issuers Fared Over 2010

Posted: 23 Dec 2010 04:00 AM PST

At the end of 2010, there are currently 33 actively-managed ETFs with a combined asset base of close to $3 billion. These products are from seven different issuers, some of whom have been around since the beginning of the Active ETF product launches and others who are relative newbies. Let's look at how each of those seven issuers has stood up to the developments over 2010.
PIMCO: Continued Success and Brand Recognition
PIMCO has stood head and shoulders above many of the other bond players … [visit site to read more] or compare Best Credit Cards and Best CD Rates

U.S. Durable Goods Orders Falls More Than Expected In November

Posted: 23 Dec 2010 03:45 AM PST

    

Fundamental Headlines
• China Seen Defusing North Korea – Wall Street Journal
•Ireland Recapitalizes AIB by $3.93 Billion – Wall Street Journal
• Stocks Flirt With Pre-Lehman Crash Levels – Financial Times
•Consumer, Business Spending Probably Rose as U.S. Economy Grew- Bloomberg
•China Money-Market Rate Rises to 3-Year High on Cash Shortage – Bloomberg
EURUSD: Durable goods orders in the world's largest economy fell 1.3 percent in November after … [visit site to read more] or compare Best Credit Cards and Best CD Rates

CHART OF THE DAY

Posted: 23 Dec 2010 03:39 AM PST

Positive Prognosis: Stockopedia Speaks To Vadim Alexandre, Healthcare Analyst At Daniel Stewart Amp; Co

Posted: 23 Dec 2010 01:55 AM PST

Sitting in the offices of investment banking boutique Daniel Stewart Securities (LON:DAN) , Vadim Alexandre presents a bullish case for the prospects for his sector during 2011. As one of the City's top healthcare analysts, earlier this year his impressive stock-picking record helped catapult the firm to the top of Hemscott's broker rankings in the sector by number of clients. That feat was all the more impressive given the tortuous time encountered by many London-listed healthcare … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Jim Mellon Takes Up InterQuest Stake From Luke Johnson

Posted: 23 Dec 2010 01:01 AM PST

Jim Mellon, the successful entrepreneur and former fund manager, has paid close to £1m for a 5.8% stake in IT staffing business Interquest Group (LON:ITQ) . The move follows news yesterday that serial entrepreneur Luke Johnson was stepping down from the company's board after nine years and selling his 9.7% stake in the group. Mr Johnson is understood to be stepping down to focus on other business interests. Following Mr Johnson's resignation finnCap, InterQuest's broker, placed Mr … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Matra Petroleum Awarded Production Licence For Sokolovskoe Field

Posted: 23 Dec 2010 12:45 AM PST

Matra Petroleum (LON:MTA) , the AIM listed oil and gas group operating in Russia, has been awarded a 20 year production licence for its Sokolovskoe Field. The news comes a week after Matra reported that a drilling rig was being mobilised to Well-12 on Sokolovskoe ahead of plans to re-drill a section of that well. At its other well on the field, Well-13, Matra previously reported that remedial cementing operations had been completed and after a short period of testing it would begin installing … [visit site to read more] or compare Best Credit Cards and Best CD Rates

What Can We Expect From Silver?

Posted: 22 Dec 2010 10:00 PM PST

Silver's had a tremendous run this year and I recently appeared on CNBC's "Power Lunch" to discuss whether it can continue into 2011. During the interview, I shared with viewers the idea of giving silver coins as gifts. Over the years, I've given them to employees as gifts several times, with the idea that a silver coin will hold its value better than paper currency.
Asked if I believe the rally can continue, I explained that silver, like gold, has yet to break through its … [visit site to read more] or compare Best Credit Cards and Best CD Rates
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