DailyMarkets.com - Monetary Inflation And Supply Concerns Drive Commodities Even More Than Demand

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• Monetary Inflation And Supply Concerns Drive Commodities Even More Than Demand
• Forex – AUD/USD Down In European Trading Hours
• Forex – USD/CHF Up During The European Session
• Peru Central Bank Raises Interest Rates 25bps To 3.50%
• Bank Of England Holds Monetary Policy
• Bank Of Korea Holds Repo Rate At 2.75%
• Philippine Central Bank Holds At 4.00%
• Forex – USD/JPY Up In European Trade
• Forex – EUR/USD Down In European Trading Hours
• Forex – GBP/USD Down During The European Session
• Growth & Income Stock: Ross Stores, Inc.
• Bear Of The Day: Onyx Pharmaceuticals (ONXX)
• Bull Of The Day: Brightpoint, Inc. (CELL)
• Momentum Stock: Bunge, Inc.
• Aggressive Growth Stock: Stoneridge, Inc.
• Forex – EUR/USD Down During The Asian Session
• Forex – GBP/USD Down In Asian Trade
• Citi Trends’ Sales Disappointing
• Forex – EUR/CHF Down In Asian Trading Hours
• Crude Shrugs Off Renewed Unrest In Egypt, Gold Holds Near $1366 Resistance
• Forex – USD/CHF Down During Asian Trade
• Forex – EUR/GBP Up During The Asian Session
• Singapore Stock Market Update For Friday 11 February
• Forex – USD/JPY Up During Asian Trade
• Forex – USD/CAD Up In Asian Trading Hours
• Forex – AUD/USD Down During Asian Trade
• Forex – EUR/USD Down During The Asian Session
• Forex – EUR/JPY Up During Asian Trade
• Stock Market Summary For Thursday, February 10, 2011

Monetary Inflation And Supply Concerns Drive Commodities Even More Than Demand Posted: 11 Feb 2011 03:35 AM PST The mainstream press loves to talk about emerging market demand as a cause of inflation, rising prices and the bull market in commodities. Did emerging markets suddenly begin demanding food, energy and metals in 2001? What about five and ten years earlier? Its a rhetorical question. The conventional wisdom is wrong. Inflation is driven by low interest rates and lax credit conditions. Severe inflation is driven by the inability to finance or grow out of debt. Commodity bull … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex – AUD/USD Down In European Trading Hours Posted: 11 Feb 2011 03:00 AM PST Forex Pros – The Australian Dollar was lower against the U.S. Dollar on Friday. AUD/USD was trading at 0.9966, down 0.78% at time of writing. The pair was likely to find support at 0.9966, today's low, and resistance at 1.0190, Tuesday's high. Meanwhile, the Australian Dollar was down against the Euro and the Japanese Yen, with EUR/AUD gaining 0.17% to hit 1.3566 and AUD/JPY falling 0.41% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex – USD/CHF Up During The European Session Posted: 11 Feb 2011 02:20 AM PST Forex Pros – The U.S. Dollar was higher against the Swiss Franc on Friday. USD/CHF was trading at 0.9714, up 0.24% at time of writing. The pair was likely to find support at 0.9524, Tuesday's low, and resistance at 0.9718, today's high. Meanwhile, the U.S. Dollar was up against the Euro and the Japanese Yen, with EUR/USD shedding 0.60% to hit 1.3519 and USD/JPY rising 0.31% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Peru Central Bank Raises Interest Rates 25bps To 3.50% Posted: 11 Feb 2011 02:20 AM PST The Central Reserve Bank of Peru raised its benchmark lending rate by 25 basis points to 3.50% as a preventative move against inflation. Peru saw inflation of 0.39% from December in January 2011, putting the year on year rate at 2.17%, versus the official inflation target of 1% to 3%. Peru faces upside inflation risks due to rising global food and energy commodity prices, as well as a relatively strong rate of growth in domestic economic … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Bank Of England Holds Monetary Policy Posted: 11 Feb 2011 01:59 AM PST The Bank of England (BoE) maintained its monetary policy stance; holding the benchmark interest rate at 0.50 percent, and the asset purchase program at GBP 200 billion. The move was widely expected, but the BoE is likely to come under increasing pressure on inflation (which is currently above the 2% inflation target). The UK saw inflation of 3.7% in December 2010. The BoE is scheduled to release the minutes of its monetary policy meeting on the 23rd of February … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Bank Of Korea Holds Repo Rate At 2.75% Posted: 11 Feb 2011 01:47 AM PST The Bank of Korea held its main policy rate, the 7-day repurchase rate, at 2.75%. South Korea recorded consumer price inflation of 4.1% year on year in January 2011, with producer prices rising 6.2% year on year, whereas the Bank of Korea has an inflation target of 2% to 4%. The pauses in monetary policy tightening by the Bank was not expected by most, and is likely to be a temporary … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Philippine Central Bank Holds At 4.00% Posted: 11 Feb 2011 01:40 AM PST The Bangko Sentral ng Pilipinas held its key policy interest rates at 4.00% for the overnight borrowing (reverse repurchase facility), and 6% for the overnight lending rate (repurchase facility). The bank noted that “latest baseline forecasts indicate that inflation will likely settle within the target range of 4 ± 1 percent for 2011 and 2012.” The Bank also noted in its statement that “the balance of risks to the inflation outlook has tilted further to the upside”, and that it is prepared to … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex – USD/JPY Up In European Trade Posted: 11 Feb 2011 01:30 AM PST Forex Pros – The U.S. Dollar was higher against the Japanese Yen on Friday. USD/JPY was trading at 83.50, up 0.33% at time of writing. The pair was likely to find support at 81.78, Tuesday's low, and resistance at 83.56, today's high. Meanwhile, the U.S. Dollar was up against the Euro and the British Pound, with EUR/USD shedding 0.51% to hit 1.3531 and GBP/USD falling 0.32% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex – EUR/USD Down In European Trading Hours Posted: 11 Feb 2011 12:55 AM PST Forex Pros – The Euro was lower against the U.S. Dollar on Friday. EUR/USD was trading at 1.3545, down 0.41% at time of writing. The pair was likely to find support at 1.3509, Monday's low, and resistance at 1.3744, Wednesday's high. Meanwhile, the Euro was down against the British Pound and the Japanese Yen, with EUR/GBP shedding 0.18% to hit 0.8434 and EUR/JPY falling 0.04% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex – GBP/USD Down During The European Session Posted: 11 Feb 2011 12:10 AM PST Forex Pros – The British Pound was lower against the U.S. Dollar on Friday. GBP/USD was trading at 1.6044, down 0.33% at time of writing. The pair was likely to find support at 1.6013, Thursday's low, and resistance at 1.6185, Monday's high. Meanwhile, the British Pound was up against the Euro and down against the Japanese Yen, with EUR/GBP shedding 0.03% to hit 0.8446 and GBP/JPY falling 0.02% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Growth & Income Stock: Ross Stores, Inc. Posted: 10 Feb 2011 11:10 PM PST Ross Stores (NASDAQ:ROST) recently reported better-than-expected January same-store sales, prompting analysts to raise their estimates higher. The off-price retailer has been on a bit of a tear lately, but valuations remain in check with a PEG ratio of 1.0. It is a Zacks #2 Rank (Buy) stock. Estimates Soaring On February 3, Ross reported January same-store sales growth of 3%. The stock was up 5.1% on the news and estimates jumped higher – a trend the company has been seeing for several months: Ross … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Bear Of The Day: Onyx Pharmaceuticals (ONXX) Posted: 10 Feb 2011 11:10 PM PST Although Onyx Pharmaceuticals’ (NASDAQ:ONXX) third quarter EPS of $0.76 was well above expectations, we note that results were driven by a license payment from Ono Pharma, which boosted revenues by $59.2 million. Excluding this, revenues declined 7.9% to $63.7 million, mainly due to Nexavar’s disappointing performance. Following the release of third quarter results, Onyx reduced its 2010 guidance for Nexavar for the second time. We believe that intense competition, foreign exchange fluctuations, … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Bull Of The Day: Brightpoint, Inc. (CELL) Posted: 10 Feb 2011 11:10 PM PST We upgrade our recommendation for Brightpoint Inc. (NASDAQ:CELL) to Outperform, following its fourth quarter of 2010 financial results, well above the Zacks Consensus Estimates. Significant growth of 3G smartphones throughout the world helped Brightpoint to manage a record-high mobile device in the reported quarter. Most importantly, almost 82% of devices are managed through the company’s high-margin Logistic Services. According to our view, business fundamentals of Brightpoint remain intriguing … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Momentum Stock: Bunge, Inc. Posted: 10 Feb 2011 11:10 PM PST Bunge, Inc. (NYSE:BG) just reported an awesome quarter, beating the Zacks Consensus Estimate by almost 25%. With bean prices on the upswing and a bullish growth projection, Bungee is a momentum stalwart. Fourth-Quarter Results Revenue for the period was up 22% from last year to $1.27 billion. Earnings also came in strong at $1.99, 50% ahead of the Zacks Consensus Estimate. The company’s largest unit, Agribusiness, was its strongest, with income jumping to $377 million from $65 million. Its Sugar … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Aggressive Growth Stock: Stoneridge, Inc. Posted: 10 Feb 2011 11:10 PM PST Stoneridge Inc. (NYSE:SRI) is looking for its 2010 momentum to continue through 2011. The company was last featured as a Zacks Rank Buy in September, but just released an earning surprise last week. Analysts have been slow to react to the recent news, so it is not too late to get into this Zacks #2 Rank (Buy). Company Description Stoneridge makes engineered electrical components for the automotive, agriculture and off-highway vehicle industries. The company is headquartered in Ohio and has a … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex – EUR/USD Down During The Asian Session Posted: 10 Feb 2011 10:20 PM PST Forex Pros – The Euro was lower against the U.S. Dollar on Friday. EUR/USD was trading at 1.3562, down 0.29% at time of writing. The pair was likely to find support at 1.3509, Monday's low, and resistance at 1.3744, Wednesday's high. Meanwhile, the Euro was up against the British Pound and the Japanese Yen, with EUR/GBP gaining 0.07% to hit 0.8455 and EUR/JPY rising 0.04% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex – GBP/USD Down In Asian Trade Posted: 10 Feb 2011 09:50 PM PST Forex Pros – The British Pound was lower against the U.S. Dollar on Friday. GBP/USD was trading at 1.6058, down 0.25% at time of writing. The pair was likely to find support at 1.6013, Thursday's low, and resistance at 1.6185, Monday's high. Meanwhile, the British Pound was down against the Euro and up against the Japanese Yen, with EUR/GBP gaining 0.01% to hit 0.8450 and GBP/JPY rising 0.06% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Citi Trends’ Sales Disappointing Posted: 10 Feb 2011 09:40 PM PST Citi Trends Inc.(NASDAQ:CTRN) recently reported an increase of 1.3% in total sales to $172.0 million for the thirteen-week period ended January 29, 2011 compared with $169.8 million in the thirteen-week period ended January 30, 2010, but failed to surpass the Zacks Consensus Estimate of $190.0 million. However, comparable store sales plunged 11.4% during thirteen-week period. Month-wise, comparable store sales declined 2.6% in November, 10.7% in December and 23.5% in January. The decrease in … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex – EUR/CHF Down In Asian Trading Hours Posted: 10 Feb 2011 09:20 PM PST Forex Pros – The Euro was lower against the Swiss Franc on Friday. EUR/CHF was trading at 1.3144, down 0.28% at time of writing. The pair was likely to find support at 1.2932, Monday's low, and resistance at 1.3196, Thursday's high. Meanwhile, the Euro was down against the U.S. Dollar and up against the Japanese Yen, with EUR/USD shedding 0.23% to hit 1.3570 and EUR/JPY rising 0.08% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Crude Shrugs Off Renewed Unrest In Egypt, Gold Holds Near $1366 Resistance Posted: 10 Feb 2011 08:51 PM PST Commodities – Energy Crude Shrugs off Renewed Unrest in Egypt Crude Oil (WTI) – $87.48 // $0.75 // 0.86% Commentary: Crude oil was flat to lower on Thursday, with WTI inching $0.02, or 0.02%, higher to settle at $86.73, while Brent traded $0.95, or 0.93%, lower to settle at $100.87. The economic calendar featured a neutral reading on Australian employment; no change in UK monetary policy, as expected; and a sharp drop in U.S. Initial Jobless Claims from 419K to 383K- the lowest since July … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex – USD/CHF Down During Asian Trade Posted: 10 Feb 2011 08:50 PM PST Forex Pros – The U.S. Dollar was lower against the Swiss Franc on Friday. USD/CHF was trading at 0.9686, down 0.06% at time of writing. The pair was likely to find support at 0.9524, Tuesday's low, and resistance at 0.9703, Thursday's high. Meanwhile, the U.S. Dollar was up against the Euro and the Japanese Yen, with EUR/USD shedding 0.15% to hit 1.3581 and USD/JPY rising 0.29% 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: 10 Feb 2011 08:20 PM PST Forex Pros – The Euro was higher against the British Pound on Friday. EUR/GBP was trading at 0.8453, up 0.05% at time of writing. The pair was likely to find support at 0.8389, Monday's low, and resistance at 0.8530, Wednesday's high. Meanwhile, the Euro was down against the U.S. Dollar and up against the Japanese Yen, with EUR/USD shedding 0.17% to hit 1.3578 and EUR/JPY rising 0.06% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Singapore Stock Market Update For Friday 11 February Posted: 10 Feb 2011 07:53 PM PST Morning Highlights Singapore stocks continued to open low at 3093.29. Investors are trading cautiously as tensions remained high after Egyptian President Hosni Mubarak refused to quit despite mass protests… News Updates: Korea’s central bank kept interest rates on hold. China’s central bank raised interest rates by 0.25 percentage point. U.K. food prices rose at the fastest pace in 19 months in January. Federal Reserve Chairman Ben S. Bernanke gave no indication he plans to scale … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex – USD/JPY Up During Asian Trade Posted: 10 Feb 2011 07:40 PM PST Forex Pros – The U.S. Dollar was higher against the Japanese Yen on Friday. USD/JPY was trading at 83.36, up 0.17% at time of writing. The pair was likely to find support at 81.78, Tuesday's low, and resistance at 83.39, today's high. Meanwhile, the U.S. Dollar was up against the Euro and the British Pound, with EUR/USD shedding 0.10% to hit 1.3587 and GBP/USD falling 0.20% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex – USD/CAD Up In Asian Trading Hours Posted: 10 Feb 2011 07:10 PM PST Forex Pros – The U.S. Dollar was higher against the Canadian Dollar on Friday. USD/CAD was trading at 0.9954, up 0.02% at time of writing. The pair was likely to find support at 0.9858, Monday's low, and resistance at 0.9988, Thursday's high. Meanwhile, the U.S. Dollar was up against the Euro and the British Pound, with EUR/USD shedding 0.10% to hit 1.3587 and GBP/USD falling 0.20% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex – AUD/USD Down During Asian Trade Posted: 10 Feb 2011 06:30 PM PST Forex Pros – The Australian Dollar was lower against the U.S. Dollar on Friday. AUD/USD was trading at 0.9998, down 0.46% at time of writing. The pair was likely to find support at 0.9980, today's low, and resistance at 1.0190, Tuesday's high. Meanwhile, the Australian Dollar was down against the Euro and the Japanese Yen, with EUR/AUD gaining 0.34% to hit 1.3589 and AUD/JPY falling 0.29% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex – EUR/USD Down During The Asian Session Posted: 10 Feb 2011 06:05 PM PST Forex Pros – The Euro was lower against the U.S. Dollar on Friday. EUR/USD was trading at 1.3572, down 0.21% at time of writing. The pair was likely to find support at 1.3509, Monday's low, and resistance at 1.3744, Wednesday's high. Meanwhile, the Euro was down against the British Pound and the Japanese Yen, with EUR/GBP shedding 0.06% to hit 0.8444 and EUR/JPY falling 0.04% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex – EUR/JPY Up During Asian Trade Posted: 10 Feb 2011 05:35 PM PST Forex Pros – The Euro was higher against the Japanese Yen on Friday. EUR/JPY was trading at 113.23, up 0.04% at time of writing. The pair was likely to find support at 111.25, Monday's low, and resistance at 113.44, today's high. Meanwhile, the Euro was down against the U.S. Dollar and up against the British Pound, with EUR/USD shedding 0.11% to hit 1.3585 and EUR/GBP rising 0.01% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Stock Market Summary For Thursday, February 10, 2011 Posted: 10 Feb 2011 04:51 PM PST The market opened today’s session with broad losses and investors were dumping shares.  However, shortly after the open stocks regained their footing and recovered most of the losses by the close.  The market avoided a material selloff today.  Market breadth was ok.  We are raising the support levels but keeping the resistance levels the same on the DJIA, S&P 500, and Nasdaq Composite (see below).  The activity in Egypt seems to be heating up again so … [visit site to read more] or compare Best Credit Cards and Best CD Rates

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