Thursday, January 13, 2011

DailyMarkets.com - 3 Looming Danger Signs, 2 Amazing Opportunities

DailyMarkets.com - 3 Looming Danger Signs, 2 Amazing Opportunities

3 Looming Danger Signs, 2 Amazing Opportunities

Posted: 13 Jan 2011 11:55 AM PST

Rarely have I seen a greater dichotomy between the dangers looming for traditional investments and the amazing opportunities in a wide variety of alternative investments!

But first let's talk about the three immediate danger signs:

Danger Sign #1
A Major New Debt Crisis Striking Thousands of Local Governments Throughout the United States

This debt crisis is very different from the sovereign debt crisis we warned you about last year, which struck Greece and Ireland … and is … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Dow-DuPont Settle Dispute

Posted: 13 Jan 2011 11:35 AM PST

Dow AgroSciences, a subsidiary of Dow Chemical Co. (NYSE:DOW), and E.I. Du Pont De Nemours & Co.'s (NYSE:DD) Pioneer Hi-Bred finally settled their dispute over the marketing of certain corn seed products sold through Pioneer. As part of the resolution, Pioneer will continue to distribute products through its PROaccess unit but with modified packaging.
DuPont acquired Pioneer Hi-Bred International in 1999 for over $7.7 billion. Ever since, Pioneer has proven to be an exceptionally good deal, as … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Hot Option Plays: Two Biggies Due To Report Earnings

Posted: 13 Jan 2011 11:18 AM PST

Cusick's Corner
This is quite the trend — market bears are just beside themselves. The ECB and government action are amplifying this unprecedented support. Two market biggies are now set to report earnings, JPM and INTC (read info under Implied Volatility Movers). So monitor the Finance and Tech sectors because these individual stocks could catalyze their group. See you After Hours.
Stock market averages slipped on disappointing economic data Thursday morning, but market action has turned … [visit site to read more] or compare Best Credit Cards and Best CD Rates

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

Posted: 13 Jan 2011 11:15 AM PST

Forex Pros – The Euro was higher against the U.S. Dollar on Thursday after the release of U.S. data on Initial Jobless Claims.

EUR/USD was trading at 1.3353, up 1.69% at time of writing.

The pair was likely to find support at 1.2874, Monday's low, and resistance at 1.3383, today's high.

Earlier in the day, official data showed that U.S. Initial Jobless Claims rose unexpectedly to a seasonally adjusted 445.00K last week from 410.00K in the preceding week whose figure was revised up from … [visit site to read more] or compare Best Credit Cards and Best CD Rates

EIA Data Lifts Oil To 27-Month High

Posted: 13 Jan 2011 11:10 AM PST

The U.S. Energy Department’s weekly inventory release showed a larger-than-expected drop in crude stockpiles, while gasoline and distillate supplies climbed steeply. Meanwhile, refinery run-rates were down from the previous week.
The Energy Information Administration ("EIA") Petroleum Status Report – which contains data for the previous week ending on Friday – outlines information regarding the weekly change in petroleum inventories held and produced by the U.S., both locally and … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Wyndham Enters India

Posted: 13 Jan 2011 11:05 AM PST

Wyndham Worldwide Corporation (NYSE:WYN), through its subsidiary Wyndham Hotel Group, is finally entering the Indian market. The hospitality company signed a franchise agreement with Tirupati Buildings & Offices Pvt. Ltd to open its first hotel in India.
The 394 room hotel will be located in New Delhi, the Indian capital, and is expected to open in April 2011. The hotel will include facilities like restaurants, nightclub, swimming pool, spa, fitness and business center as well as 14,000 square … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Options Feeding Frenzy Ensues Ahead Of Earnings At Intel, JPMorgan

Posted: 13 Jan 2011 10:51 AM PST

Options feeding frenzy ensues ahead of earnings at Intel, JPMorgan
Today’s tickers: INTC, JPM, MRVL & YRCW
Intel Corp. (NASDAQ:INTC) – Large-volume bearish positions cropped up in options on the chip giant this morning ahead of the firm’s much anticipated fourth-quarter earnings release after the final bell ends trading for the session. Intel’s shares are down slightly by 0.30% to stand at $21.24 as of 11:55am in New York. Investors placing outright bearish bets on the stock ahead of the … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Merge Connecting With IConnect

Posted: 13 Jan 2011 10:35 AM PST

Recently, Merge Healthcare's (MRGE) iConnect has been selected by Radiology Associates of Sacramento (RAS), North California. iConnect is an interoperable platform that enables providers to view current and historical images and content, irrespective of the various ways of image storage.
Physicians, payors and patients should be able to access healthcare information and share clinical data to achieve the ultimate goal of improving the quality of the US healthcare system and reduce costs. In … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Trade Deficit Falls Again

Posted: 13 Jan 2011 10:35 AM PST

The Trade Deficit fell in November to $38.31 billion from $38.42 billion in October. The fall in the trade deficit is good news for the economy. The trade deficit was also smaller than the $41.0 billion consensus expectation. On a year-over-year basis, the total trade deficit was up 8.6% from $35.27 billion a year ago.

The trade balance has two major parts: trade in goods and trade in services. America's problem is always on the goods side; we actually routinely have a small surplus in … [visit site to read more] or compare Best Credit Cards and Best CD Rates

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

Posted: 13 Jan 2011 10:35 AM PST

Forex Pros – The Australian Dollar was higher against the U.S. Dollar on Thursday after the release of U.S. data on Initial Jobless Claims.

AUD/USD was trading at 0.9993, up 0.27% at time of writing.

The pair was likely to find support at 0.9804, Tuesday's low, and resistance at 1.0019, today's high.

Earlier in the day, official data showed that U.S. Initial Jobless Claims rose unexpectedly to a seasonally adjusted 445.00K last week from 410.00K in the preceding week whose figure was … [visit site to read more] or compare Best Credit Cards and Best CD Rates

“Focused On Earnings…financials Are In Great Shape”

Posted: 13 Jan 2011 10:25 AM PST

01/13/11 Seaport Securities’ Jason Weisberg weighs in on the latest market-moving fundamentals, and discusses execrations for Friday’s … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Hudson City Upped To Neutral

Posted: 13 Jan 2011 10:05 AM PST

We have recently upgraded our recommendation on Hudson City Bancorp Inc. (NASDAQ:HCBK) to Neutral.
Hudson City's third-quarter earnings came at 25 cents per share, a penny behind the Zacks Consensus Estimate, reflecting lower interest margin and higher provision for loan losses. Pressure on earning assets and margin is expected to continue with the low interest rate environment, which we expect will persist in the upcoming quarters, thereby dampening investors' appetite for this stock. Along … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Initial Jobless Claims Up Sharply

Posted: 13 Jan 2011 10:05 AM PST

Initial Claims for Unemployment Insurance rose by 35,000 last week to 445,000 (last week was also revised up by 1,000, so one could see it as a 36,000 increase). This was much worse than the expected level of 415,000. Could it be that the drop out of the trading range of the last month or so was all a mirage, just as the jump over 500,000 last summer proved to be?

The massive drop during the Christmas week was clearly affected by some seasonal (and weather) factors. The overall direction of … [visit site to read more] or compare Best Credit Cards and Best CD Rates

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

Posted: 13 Jan 2011 10:00 AM PST

Forex Pros – The New Zealand Dollar was higher against the U.S. Dollar on Thursday after the release of U.S. data on Initial Jobless Claims.

NZD/USD was trading at 0.7692, up 0.71% at time of writing.

The pair was likely to find support at 0.7562, Tuesday's low, and resistance at 0.7704, today's high.

Earlier in the day, official data showed that U.S. Initial Jobless Claims rose unexpectedly to a seasonally adjusted 445.00K last week from 410.00K in the preceding week whose figure was … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Euro Rebound Continues On Data, Economic Optimism

Posted: 13 Jan 2011 05:00 AM PST

01/13/11 The euro currency has continued to rise this session following strong economic reports as well as growing optimism EU officials will enact measures to stem the regional debt … [visit site to read more] or compare Best Credit Cards and Best CD Rates

European Markets Mixed At Close; Dax Up 0.09%

Posted: 13 Jan 2011 09:55 AM PST

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

At the close of European trade, Germany's DAX rose 0.09%, London's FTSE 100 shed 0.44%, France's CAC 40 climbed 0.75% and the EURO STOXX 50 was up 1.27%.

Meanwhile, on Wall Street, equity markets were mixed after the open. The Dow Jones Industrial Average was down 0.15%; the S&P 500 index shed 0.00%, while the Nasdaq 100 index climbed … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Meredith In Neutral Lane

Posted: 13 Jan 2011 09:35 AM PST

The improving advertising performance at Meredith Corporation's (NYSE:MDP) National and Local Media groups, and increasing readership and online traffic have been benefiting the company's top and bottom line results.
Meredith is one of the leading media and marketing companies with interests in publishing, broadcasting, integrated marketing and interactive media. The company boasts of a strong portfolio of women's magazines with a relatively stable circulation, which has helped it gain … [visit site to read more] or compare Best Credit Cards and Best CD Rates

CSC Closes Image Solutions Deal

Posted: 13 Jan 2011 09:35 AM PST

Yesterday, Computer Sciences Corp. (NYSE:CSC) wrapped up the acquisition of privately held information technology outsourcing company Image Solutions Inc. This marks Computer Sciences' progress in the health care industry. The acquisition was announced in December 2010. Financial terms of the deal were not disclosed.
Image Solutions is a recognized name in the field of electronic submissions of New Drug Applications. The company's flagship products such as eCTDXPress and ISIPublisher help … [visit site to read more] or compare Best Credit Cards and Best CD Rates

UCLA Commerce Index Hits 30-Month High In Dec.

Posted: 13 Jan 2011 09:35 AM PST

Here’s another pretty new index for Carpe Diem, I’ve only reported on this once before, it’s the }Ceridian-UCLA Pulse of Commerce Index,” here a description: 

“The Ceridian-UCLA Pulse of Commerce Index (PCI) by UCLA Anderson School of Management is based on real-time fuel consumption data for over the road trucking and serves as an indicator of the current state and possible future direction of the U.S. economy. By tracking the volume and location of diesel fuel being purchased, the … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Today’s Fundamental Brief (1/13): Spanish Auction, Trichet Boost EUR; Higher Inflation Puts BOE In A Tough Spot, BOE Gains

Posted: 13 Jan 2011 09:23 AM PST

(function ($) { $(“#ytplayer-4d2f41ca5f9ad”).ytplayer({source: “t0Wlxmo2idk”, height: 346, width: 616, autoplay: false, nativeControls: false, onReady: null}); })(jQuery);

Summary: Today's session featured the European Central Bank and Bank of England decisions, and while there wasn't too much in the way of new surprises it gives us a good chance to take a look at why we have seen both the EUR and GBP rallying. Are these fundamental shifts … [visit site to read more] or compare Best Credit Cards and Best CD Rates

European Yields Recover From Hawkish Comments From Trichet

Posted: 13 Jan 2011 09:19 AM PST

Eurozone government bonds rallied following a second successful day of auctions that removed more of the recent pressure on governments thought likely to struggle to tap investors for cash in the capital markets. Central banks in Europe kept policy unchanged as expected but a cautious Jean-Claude Trichet kept bond investors on their toes as he suggested a worsening of the inflation climate.
European bond markets – Spain and Italy found more willing buyers for bonds stretching across a variety … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Total U.S. Trade Reaches Two-Year High In Nov.; Get Ready For “Blowout Real GDP Growth” For Q4

Posted: 13 Jan 2011 09:08 AM PST

According to today’s BEA report, total U.S. trade with the rest of the world (sales of U.S. products to consumers and firms in other countries PLUS purchases of foreign production by American consumers and businesses) reached $357.6 billion in November, the highest level in more than two years.   Total trade in November was the highest level of total U.S. trade since October 2008, and is more than $100 billion and 45.4% above the April 2009 cyclical low of $246 billion (see chart … [visit site to read more] or compare Best Credit Cards and Best CD Rates

FDA Panel Rejects LLY’s Candidate

Posted: 13 Jan 2011 09:05 AM PST

ecently, Eli Lilly and Company (NYSE:LLY) announced that the Gastrointestinal Drugs Advisory Committee of the US Food and Drug Administration (FDA) did not recommend the candidate- liprotamas’ approval . Eli Lilly is seeking approval for the candidate to treat patients suffering from pancreatic deficiencies (exocrine pancreatic insufficiency) which may arise due to causes such as cystic fibrosis – a serious genetic disorder. Exocrine pancreatic insufficiency results in improper digestion.

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

Biogen’s Business Update

Posted: 13 Jan 2011 09:05 AM PST

Biogen Idec (NASDAQ:BIIB) recently provided an update on its pipeline and “Framework for Growth” program at the J. P. Morgan Healthcare Conference. 
Business Update
Biogen had initially announced its “Framework for Growth” program in November 2010. With this program, Biogen is looking to streamline its operations and increase efficiencies. The program includes initiatives like streamlining of operations, shutting down of facilities, and workforce reduction.
Biogen reported that it has closed … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Family Dollar Downgraded

Posted: 13 Jan 2011 09:05 AM PST

We recently downgraded our recommendation on Family Dollar Stores Inc. (NYSE:FDO), the operator of self-service retail discount store chains, to Neutral with a price target of $46.00, following lower-than-expected first-quarter 2011 results. Earlier, we had an Outperform rating on the stock.
Family Dollar's quarterly earnings of 58 cents a share missed the Zacks Consensus Estimate of 61 cents, but jumped 18.4% from 49 cents earned in the prior-year quarter. Family Dollar also hinted that gross … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex – EUR/USD Up At The End Of European Session

Posted: 13 Jan 2011 09:00 AM PST

Forex Pros – The Euro was higher against the U.S. Dollar on Thursday after the release of U.S. data on Initial Jobless Claims.

EUR/USD was trading at 1.3361, up 1.75% at time of writing.

The pair was likely to find support at 1.2874, Monday's low, and resistance at 1.3376, today's high.

Earlier in the day, official data showed that U.S. Initial Jobless Claims rose unexpectedly to a seasonally adjusted 445.00K last week from 410.00K in the preceding week whose figure was revised up from … [visit site to read more] or compare Best Credit Cards and Best CD Rates

USD/CAD’s Flag Pattern And Bearish Scenario

Posted: 13 Jan 2011 08:58 AM PST

USD/CAD

-  The 4H chart shows that since yesterday's break below the descending triangle support, we had a pullback. The latest 4H candle hints at completion of the pullback, and rejection of the USD/CAD from going back into the triangle.
- A bearish continuation perhaps? We do have a target of 0.9750 (2008 lows), but first the most recent low at 0.9845 will be the near-term target.
- The 1H chart below shows that the market is not in the clear yet.
- A break below 0.9860 would then … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Genesis Hikes Cash Distribution

Posted: 13 Jan 2011 08:35 AM PST

Houston-based partnership Genesis Energy LP (GEL) raised its fourth quarter 2010 cash distribution by 3.2% sequentially and 11.1% year over year to 40 cents per unit (or $1.60 per unit annualized). The new distribution – payable on February 14 to unitholders of record as on February 2, 2011 – is the twenty-second consecutive quarterly distribution increase by the pipeline operator.
Genesis Energy LP is a master limited partnership ("MLP") that operates crude oil pipelines and is an … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Australian Dollar: Caution

Posted: 13 Jan 2011 08:21 AM PST

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

Canadian Dollar: Under Pressure

Posted: 13 Jan 2011 08:20 AM PST

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

Wheat Woes Already Priced In?

Posted: 13 Jan 2011 08:20 AM PST

Trading Ideas
Currently, Wheat fundamentals likely can be seen as bullish. However, many traders may have already priced-in global supply tightness, which could make the market vulnerable to selling pressure. Likewise, the chart does show the Wheat market in a vulnerable position, but no downside breakout has been confirmed. Aggressive traders that may be looking to enter into a bearish position, despite the lack of technical confirmation, may want to consider taking a more cautious approach by … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Legg Mason’s December AUM Rises

Posted: 13 Jan 2011 08:15 AM PST

Baltimore-based Legg Mason Inc. (NYSE:LM) experienced a rise in its assets under management (AUM) in December following a fall in November. The company reported preliminary month-end AUM of $672.0 billion for December, up 0.6% from $667.7 billion at the end of the prior month. The decline primarily reflects a fall in fixed income AUM. The company posted around 1.3% decrease in AUM in November.
While Legg Mason's equity AUM in December increased 6.0% from the prior month to $184.2 billion, fixed … [visit site to read more] or compare Best Credit Cards and Best CD Rates

St. Jude’s Prelim 4Q Sales Tops

Posted: 13 Jan 2011 08:15 AM PST

Medical devices major St. Jude Medical (NYSE:STJ) reported preliminary sales data for fourth-quarter fiscal 2010. The company expects to report final results before the opening bell on January 26, 2011.
The Minnesota-based company expects to post revenues of $1,350 million, up 12% (13% in constant currency) year over year, topping the Zacks Consensus Estimate of $1,296 million. Sales include a $25 million contribution from AGA Medical Holdings, which St. Jude acquired in November 2010. Revenues … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Plains Ups Distribution Yet Again

Posted: 13 Jan 2011 08:15 AM PST

Plains All American Pipeline LP (NYSE:PAA) continues its trend of cash distribution increase by announcing a quarterly cash distribution of 95.75 cents per unit on all of its outstanding limited partner units.
The new distribution reflects a 3.2% growth over the quarterly distribution of 92.75 cents per unit paid in February 2010 and an increase of 0.8% from the quarterly distribution of 95 cents per unit paid in November 2010. The new distribution will be paid on February 14, 2011 to unit holders … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Cubist’s Q4 Preliminary Sales Down

Posted: 13 Jan 2011 08:15 AM PST

Cubist Pharmaceuticals Inc.'s (NASDAQ:CBST) preliminary revenues for the fourth quarter of 2010 declined 3% to $161.8 million due to the reduced sales of its antibiotic injection, Cubicin (daptomycin). Moreover, fourth quarter revenues were also hurt by the absence of service revenues pertaining to Cubist's marketing agreement with AstraZeneca plc (NYSE:AZN) involving AstraZeneca’s antibiotic Merrem. The deal came to an end in June last year. Preliminary fourth quarter revenues fell short of the … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Will AUD/USD Stay Below Parity?

Posted: 13 Jan 2011 08:14 AM PST

AUD/USD

- AUD/USD is seen in the 4H chart with a strong rally that is now testing the 1.00 parity level. There was a crack in the US session, but the market has not accepted a break to close above. Instead, we might develop a candle with a strong tail that would suggest a bearish attempt is imminent.
- Before committing to that, let's see where the market is. It is testing the parity, level and just above that near 1.0030, is the 50% retracement and 138.2% extended retracement of the … [visit site to read more] or compare Best Credit Cards and Best CD Rates

MyPhone Sales Pushing Solid Group, Inc. (SGI) Higher

Posted: 13 Jan 2011 08:01 AM PST

Solid Group, Inc. or SGI in the Philippine Stock Exchange, the name behind the only Philippine-mobile phone brand MyPhone, pocketed PHP 2 billion in unit sales for the year 2010, reflecting a 9-fold sales increase from 2009. The company holds as much as 40% of the Philippines' mobile phone market and with the introduction of more affordable phones that are wifi-capable and the apparent improvement in consumer appetite, revenues for 2011 could even be rosier.  SGI is also looking to … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Stalking GBP/JPY’s Rally With Elliott Wave Count

Posted: 13 Jan 2011 07:50 AM PST

GBP/JPY

- GBP/JPY has followed a bullish wave count, and basically rallying in a channel, within a larger channel seen in the 4H chart.
- The RSI continues to make new highs, suggesting a sustainable bullish momentum breakout. However, the price level has yet to break above an important channel resistance seen int he Daily chart.
- As the market tests 132.00, it will be testing this declining channel resistance.
- Look for topping action there.
- The wave count in the 4H chart suspects we … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex – Dollar Down Vs. Most Rivals After Surprise Jobless Claims Bump

Posted: 13 Jan 2011 07:49 AM PST

Forex Pros – The U.S. dollar was down against almost all of its major counterparts on Thursday, after a report showing that U.S. jobless claims rose unexpectedly last week sparked concerns that the recovery in the U.S. economy is not reaching the labor market.

During early U.S. trade, the greenback was sharply lower against the euro, with EUR/USD jumping 1.57% to hit 1.3337.

The single currency was boosted by successful Spanish and Italian bond sales earlier in the day and after European … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex Trading: GBPUSD Consolidating With A Positive Bias

Posted: 13 Jan 2011 07:46 AM PST

The GBPUSD has moved sharply higher today along with the general selling of the US dollar. On the 5 minute chart the price is moving up within a channel. The last hour or two has seen a slowing of the move higher.  Nevertheless the price remains in the bullish channel.   The bottom of the trendline should be watched as a stop/profit taking point for those who are long.  That level comes in at the 1.5837 level currently.  IF the price continues its trend higher, the … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Opening Bell Market Monitor: MRO, PEG, WSM

Posted: 13 Jan 2011 07:43 AM PST

01/13/10 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

Markets In Everything: Foreclosure Exorcisms

Posted: 13 Jan 2011 07:39 AM PST

Wall Street Journal — The foreclosure crisis has helped resurrect an ancient tradition: the house cleansing. Buyers are turning to witches, psychics, priests and feng shui consultants, among others, to bless or exorcise dwellings.Sellers, too, are adopting the trend to help move a property stuck on the market. 

In recent months, foreclosure and other distressed sales have represented about a third of all home sales, according to the National Association of Realtors. With so many … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex – GBP/USD Surges To 3-week High After Weak U.S Jobs Data

Posted: 13 Jan 2011 07:36 AM PST

Forex Pros – The pound extended earlier gains against the U.S. dollar on Thursday, surging to a three week high, after weak U.S. jobs data fuelled concerns that the economic recovery in the U.S. is not spreading to the labor market.

GBP/USD hit 1.5859 during early U.S. trade, the pair's highest since December 14; the pair subsequently consolidated at 1.5844, gaining 0.51%.

The pair was likely to find support at 1.5717, the days low and resistance at 1.591, the high of December 14.

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

Forex Trading: EURUSD Continues The March Higher

Posted: 13 Jan 2011 07:34 AM PST

The EURUSD continued its march to new highs above the 1.3350 level. The next target is 1.3361. Support on the bottom trendline at1.3318.  On the hourly chart the 1.3321 area was a floor/ceiling area in the end of December/early … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex – EUR/USD Hits 7-day High After U.S. Jobs Data, Euro Debt Sales

Posted: 13 Jan 2011 07:23 AM PST

Forex Pros – The euro extended earlier gains against the broadly weaker U.S. dollar on Thursday, after data showing that U.S. jobless claims rose unexpectedly last week fuelled concerns that the U.S. recovery is not extending to the labor market.

EUR/USD hit 1.3338 during early U.S. trade, the pair's highest since January 4; the pair subsequently consolidated at 1.3324, jumping 1.47%.

The pair was likely to find support at 1.3089, the days low and resistance at 1.3433, the high of January … [visit site to read more] or compare Best Credit Cards and Best CD Rates

FX Levels And Outlooks 1.13.2011 – EUR/JPY Completes Equality Wave Projection

Posted: 13 Jan 2011 07:22 AM PST

EUR/JPYResistance 110.20 cracked; 111.60-111.90 (61.8% retracement)
Support 109.50-109.60; S2: 108.50

-EUR/JPY's rally is impressive. While the possibility of retesting the highs near 115.50 is possible, the market is still within the context of a consolidation, although this week's rally could be the first kick to the rally.
- The neutral to bearish scenario still exists if the market remains below the projected channel resistance seen in the daily chart. When the market reaches 110.50, … [visit site to read more] or compare Best Credit Cards and Best CD Rates

US Trade Deficit Hits Lowest Point In 10 Months

Posted: 13 Jan 2011 02:10 AM PST

01/13/11 The Commerce Department says that the trade deficit narrowed to $38.3 billion in November, its lowest point in 10 … [visit site to read more] or compare Best Credit Cards and Best CD Rates

U.S. Stocks Decline As Jobless Claims Climb; Dow Jones Sheds 0.30%

Posted: 13 Jan 2011 07:07 AM PST

Forex Pros – U.S. stocks were down after the open on Thursday, as market sentiment was weighed after official data showed that the number of people who filed for unemployment assistance in the U.S. last week rose unexpectedly to the highest level in two months.

During early U.S. trade, the Dow Jones Industrial Average shed 0.30%; the S&P 500 index fell 0.34%, while the Nasdaq Composite index was down 0.17%.

Earlier in the day, official data showed that the number of individuals filing … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex Trading: EURUSD Continues Higher

Posted: 13 Jan 2011 07:03 AM PST

US Data Mixed; More Jobless Claims Meets Better Trade Report, What’s That Mean For US Economy, USD?

Posted: 13 Jan 2011 06:55 AM PST

Jobless Claims Dissapoint, Jump Back Up to 445K
The US labor market got a rude surprise with today's weekly jobless claims. We saw the figure jump by 35K to 445K for the week ended January 1st. Lower jobless claims have been one of the main fundamental signals that the labor market is healing. Combining this with December's Non-Farm Payroll Report, it begs the questions if US economy at its current pace can make enough jobs to dent the unemployment problem.
Here's our FXTimes Graph of … [visit site to read more] or compare Best Credit Cards and Best CD Rates

FX Levels And Outlooks 1.13.2011 – Stalking GBP/USD’s New Bull Run With Elliott Wave Count

Posted: 13 Jan 2011 06:55 AM PST

GBP/USDResistance 1: 1.5880-1.5935 (150-161.8% fibo projection-61.8% retracement)
R2: 1.60
Support 1: 1.5660; S2: 1.5550

- The day chart shows the GBP/USD breaking above a declining wedge or channel this week. The market remains bullish in the short-term and neutral in the intermediate term according to the RSI which has not tagged above 70 or below 30, suggesting a choppy but neutral market. The current RSI is above 60, which means it is bullish in the short-term.
- This rally can be a wave … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex Trading: EURUSD Tests Next Target And Finds Sellers

Posted: 13 Jan 2011 06:41 AM PST

The EURUSD broke above trendline resistance and moved to the next target at the 1.3321 level. The sharp move to the upside seems to have found a reason to pause but  the bias remains in tact if the price can remain above the upper channel trendline which comes in currently around the 1.3275-80 area.  A move back within the channel should indicate a tired market and likely consolidation with a bullish … [visit site to read more] or compare Best Credit Cards and Best CD Rates

FX Levels And Outlooks 1.13.2011 – USD/JPY Wave Count Suggests Rally To Come Soon

Posted: 13 Jan 2011 06:32 AM PST

USD/JPYResistance 1: 83.70; R2: 83.50
Support 1 82.70; S2: 82.27; S3: 82.00

- The USD/JPY is in a correction after last week's rally which was in a bullish impulse wave. The decline this week has been in the form of a correction. The correction has expanded and is possibly on the (c) wave.
- The market should not break below 82.00 (61.8% retracement), but preferably above the 82.27 pivot (50%).
- A rally to 84.50 is confirmed is a subsequent rally break above the 83.70 pivot. An early … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Eurozone Auctions Spur Recovery For Euro

Posted: 13 Jan 2011 06:31 AM PST

The euro has clawed its way back to where it was one week ago as investors grow more optimistic that the governments across the Eurozone are committed sufficiently enough to safeguard the survival of fellow nations. A second successful day of bond auctions also proved to be a lower hurdle than had been expected with investors happy enough to pour the maximum amount of money into government coffers in exchange for riskier paper. A deterioration in weekly initial claims in the U.S. has set off a … [visit site to read more] or compare Best Credit Cards and Best CD Rates

FX Levels And Outlooks 1.13.2011 – EUR/USD

Posted: 13 Jan 2011 06:19 AM PST

EUR/USD Paring Most of Last Week's DeclineResistance 1: 1.34; R2: 1.35; R3: 1.3750 (61.8% retracement)
Support 1: 1.3150; S2: 1.3050; S3: 1.2880

- The EUR/USD is still consolidating when we look at the daily chart. Last week's sharp decline is followed by a sharp retracement.
- The natural question is whether this is a new bullish trend or whether it is still a correction to the decline since last November.
- The wave count suggests we could have completed a bearish impulse wave, and … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex – USD/CAD Pares Gains After Jobless Claims Climb Unexpectedly

Posted: 13 Jan 2011 06:15 AM PST

Forex Pros – The U.S. dollar pared gains against its Canadian counterpart on Thursday, following government data showing that U.S. initial jobless claims rose unexpectedly last week.

USD/CAD retreated from 0.9908, the daily high to hit 0.9888 during European afternoon trade, gaining 0.32%.

The pair was likely to find support at 0.9847, Wednesday's low and a 31 month low and resistance at 0.9908, the day's high.

The U.S. Department of Labor said that said initial jobless claims rose to … [visit site to read more] or compare Best Credit Cards and Best CD Rates
at

No comments:

Post a Comment