Monday, March 21, 2011

DailyMarkets.com - Forex – EUR/USD Down In Asian Trade

DailyMarkets.com - Forex – EUR/USD Down In Asian Trade

Forex – EUR/USD Down In Asian Trade

Posted: 21 Mar 2011 05:05 PM PDT

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

EUR/USD was trading at 1.4217, down 0.06% at time of writing.

The pair was likely to find support at 1.3873, Wednesday's low, and resistance at 1.4240, Monday's high.

Meanwhile, the Euro was down against the British Pound and up against the Japanese Yen, with EUR/GBP shedding 0.06% to hit 0.8717 and EUR/JPY rising 0.08% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex – USD/JPY Up During Asian Trade

Posted: 21 Mar 2011 04:15 PM PDT

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

USD/JPY was trading at 81.27, up 0.31% at time of writing.

The pair was likely to find support at 76.50, Tuesday's low, and resistance at 82.00, Thursday's high.

Meanwhile, the U.S. Dollar was up against the Euro and down against the British Pound, with EUR/USD shedding 0.09% to hit 1.4213 and GBP/USD rising 0.001% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates

GM Temporarily Halts Production At Engine Plant

Posted: 21 Mar 2011 03:55 PM PDT

03/21/11 General Motors temporarily laid off some workers at a plant in Buffalo, NY, due to a shortage of parts from … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex – NZD/USD Down In Asian Trade

Posted: 21 Mar 2011 03:35 PM PDT

Forex Pros – The New Zealand Dollar was lower against the U.S. Dollar on Monday.

NZD/USD was trading at 0.7354, down 0.04% at time of writing.

The pair was likely to find support at 0.7110, Tuesday's low, and resistance at 0.7362, today's high.

Meanwhile, the New Zealand Dollar was down against the Australian Dollar and up against the Euro, with AUD/NZD gaining 0.04% to hit 1.3684 and EUR/NZD falling 0.01% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates

The Day Ahead: FHFA House Price Index, Richmond Fed Manufacturing Index, Earnings – Adobe, Walgreen

Posted: 21 Mar 2011 10:20 AM PDT

03/22/11 The stories, data, and stocks that may have the greatest impact during the next trading … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Encana To Invest In LNG Project

Posted: 21 Mar 2011 03:05 PM PDT

Natural gas-focused Encana Corporation (NYSE:ECA) announced plans to join the Kitimat liquefied natural gas (LNG) project in British Columbia and the associated Pacific Trail Pipelines (PTP).
In this regard, Encana will buy a 30% stake in the project from its present owners Apache Corporation (NYSE:APA) and EOG Resources (NYSE:EOG). The financial terms of the deal were not disclosed.
Per the agreement, Encana will acquire an 11% interest of the venture from Apache, leaving the latter with 40% ownership … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forest Nearer To Clinical Data

Posted: 21 Mar 2011 03:05 PM PDT

Forest Laboratories, Inc. (NYSE:FRX) recently announced the expiry of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 for its upcoming acquisition of Clinical Data, Inc. (NASDAQ:CLDA).

Forest Labs had initially announced its intention to acquire Clinical Data in Feb 2011. Per the terms of the deal, Forest Labs will acquire Clinical Data for $30 per share plus a contingent value right of up to $6 per share. The contingent value consideration will be paid on the … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Humana Unveils Long-term Policy

Posted: 21 Mar 2011 03:05 PM PDT

Humana Inc. (NYSE:HUM) has launched a new and affordable long-term care insurance offering – HumanaOne Independent Care plan, which has the flexibility to ensure that individuals can pay for care from any resource they need in the case of chronic illness.
Humana has launched this plan in Kentucky, Ohio, Michigan, North Carolina, South Carolina and Tennessee with the motive to make health choices available for individuals and to remove the health-related expense pressure.
The HumanaOne Plan helps … [visit site to read more] or compare Best Credit Cards and Best CD Rates

WU Sets No Transfer Fee For Japan

Posted: 21 Mar 2011 02:35 PM PDT

In a bid to lend a helping hand to the Japanese affected by the earthquake and tsunami, Western Union Co. (NYSE:WU) has rolled out a service named “No Transfer Fee”, wherein it will not charge for money-transfers to Japan from Agent locations around the world.
Western Union’s services are available through a network of 444,000 agent locations (up from 430,000 last year) in more than 200 countries and territories. In 2011, the company plans to expand its retail network by adding another 30,000 to … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Perry Ellis Beats, Cuts Outlook

Posted: 21 Mar 2011 02:35 PM PDT

Perry Ellis International Inc. (NASDAQ:PERY) posted adjusted earnings per share of 69 cents in the fourth quarter of fiscal 2011, ahead of the Zacks Consensus Estimate of 67 cents and the year-ago performance of 65 cents.
Including one-time costs associated with the Rafaella acquisition and impairment charges, GAAP net earnings came in at 54 cents per share, down from 64 cents in the year-earlier period.
For full fiscal 2011, Perry Ellis earned $1.85 per share versus $1.02 in the prior year. On a … [visit site to read more] or compare Best Credit Cards and Best CD Rates

U.S. Has Most Progressive Tax System For OECD-24

Posted: 21 Mar 2011 02:32 PM PDT

B. Percentage shares of richest 10%

1. Share of taxes of the richest 10%
2. Share of market income of the richest 10%
3. Ratio of shares for richest 10%  (1/2)

Australia
36.8
28.6
1.29

Austria
28.5
26.1
1.1

Belgium
25.4
27.1
0.94

Canada
35.8
29.3
1.22

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

Closing Bell Market Monitor: T, OXPS

Posted: 21 Mar 2011 02:30 PM PDT

03/21/11 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

The Mythical Recovery

Posted: 21 Mar 2011 02:28 PM PDT

I could have taken the easy way out and simply highlighted data from the latest Gallup poll, which reveals that “Americans’ Worries About Economy, Budget Top Other Issues.”
But instead, I figured I’d put a bit more effort into it and list the breathtaking array of recent articles that show just how mythical this so-called recovery really is.
“Poll: Nearly One-Third of Homeowners Underwater on Mortgages” (The Hill)
Nearly one-third of American homeowners say they owe more on their mortgage than … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Tech Trends

Posted: 21 Mar 2011 02:26 PM PDT

1. The book market is changing (more “creative destruction”), as ebook sales are growing exponentially and traditional book sales are in decline: 

“The Association of American Publishers recently released figures for the past year ending in January 2011, and the results are startling: eBooks have taken off in a large way, with sales of eBooks from various book stores doubling year-over-year from January 2010; close to 115%. The report also cast gloom over sales of traditional paper books, … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Bearish On Universal Technical

Posted: 21 Mar 2011 02:05 PM PDT

Universal Technical Institute Inc. (NYSE:UTI) is witnessing a decline in the enrollment of new students.
The decline in new enrollments accelerated to 13% during the first-quarter 2011, following a 5% decline in the fourth-quarter 2010. The company also warned that enrollment of new students for fiscal 2011 will be below the prior-year, and consequently will result in single-digit revenue growth.
Furthermore, average enrollment decelerated to 8.5% during the first quarter of 2011 from 15.4% in … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Stock Market Alerts For Tuesday Mar 22

Posted: 21 Mar 2011 01:58 PM PDT

 ( click to enlarge )

Bank of America Corporation (NYSE:BAC) is trapped between the 50 day moving average and the 200 day moving average. I feel a big move one way or the other is coming. A close above the 50 day moving average at $14.31 would be bullish, a close below 200 day moving average at $13.52 would be bearish. Right now I’m watching from the sidelines.

 ( click to enlarge )

Pfizer Inc. (NYSE:PFE) – Broke out and now pulling back to retest. The selling pressure wasn’t much and … [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: 21 Mar 2011 01:55 PM PDT

Forex Pros – The Euro was higher against the U.S. Dollar on Monday after the release of U.S. data on Existing Home Sales.

EUR/USD was trading at 1.4223, up 0.29% at time of writing.

The pair was likely to find support at 1.3864, Tuesday's low, and resistance at 1.4240, today's high.

Earlier in the day, industry data showed that existing home sales fell more-than-expected to a seasonally adjusted annual rate of 4.88M last month from 5.40M in the preceding month whose figure was revised up … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Earnings Preview: Walgreen

Posted: 21 Mar 2011 01:40 PM PDT

Walgreen Co. (NYSE:WAG) is scheduled to release its fiscal second quarter earnings on Tuesday, March 22, 2011, before the market opens.
The company is expected to earn 80 cents per share, according to the Zacks Consensus Estimate.
The company has already reported $18.46 billion of total sales for the fiscal second quarter, up 8.7% from $16.99 billion in the year-ago period. Comparable store sales (those open for more than a year) increased 4% during the quarter, while front-end comparable store … [visit site to read more] or compare Best Credit Cards and Best CD Rates

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

Posted: 21 Mar 2011 01:40 PM PDT

Forex Pros – The U.S. Dollar was higher against the Japanese Yen on Monday after the release of U.S. data on Existing Home Sales.

USD/JPY was trading at 81.05, up 0.59% at time of writing.

The pair was likely to find support at 76.50, Tuesday's low, and resistance at 82.00, Thursday's high.

Earlier in the day, industry data showed that existing home sales fell more-than-expected to a seasonally adjusted annual rate of 4.88M last month from 5.40M in the preceding month whose figure was … [visit site to read more] or compare Best Credit Cards and Best CD Rates

KeyCorp To Repay TARP Soon

Posted: 21 Mar 2011 01:35 PM PDT

On Friday, KeyCorp (NYSE:KEY) stated that it had received approval from the Federal Reserve to repay $2.5 billion of the Troubled Asset Relief Program (TARP) money. The company had submitted its capital plan to Fed for approval in January. Following the approval, the company announced the pricing of its public offerings of 70,621,470 shares of its common stock at a price of $8.85 per share.

Apart from this, KeyCorp also got the consent to commence separate public offerings of senior notes at the … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Cintas Buys FACS Records Center

Posted: 21 Mar 2011 01:35 PM PDT

Cintas Corporation (NASDAQ:CTAS) is expanding its document management business in the Southwest with the acquisition of Phoenix-based FACS Records Center. The acquisition will help Cintas provide businesses across the country with secure, cost-effective and compliant document management solutions. 

FACS Records Center through its off-site records management and storage facility has been providing offsite document storage and retrieval of records management since 1983. Through this … [visit site to read more] or compare Best Credit Cards and Best CD Rates

BP Trims Assets, Gains $225M

Posted: 21 Mar 2011 01:35 PM PDT

BP Plc (NYSE:BP) plans to divest its refined petroleum products' terminals as well as pipelines in the U.S. to Buckeye Partners L.P. (NYSE:BPL), the country's leading petroleum distributor. The transaction is worth $225 million and is expected to close in the second quarter of 2011, subject to regulatory approvals and other customary conditions. 

The agreement comprises 33 refined products terminals and 992 miles of pipelines across 13 states in Midwestern, Southeastern, and Western United … [visit site to read more] or compare Best Credit Cards and Best CD Rates

JPMorgan Raises Dividend

Posted: 21 Mar 2011 01:35 PM PDT

Finally, JPMorgan Chase & Co. (NYSE:JPM) increased its quarterly cash dividend to 25 cents per share. This dividend is payable on April 30, 2011 to the shareholders of record at the close of business on April 6, 2011. Hence, the annual dividend payable to the shareholders comes to $1 per share. This dividend announcement is a five-fold rise from the prior annual dividend of 20 cents per share.

As a result of the financial crisis, JPMorgan had to slash its quarterly dividend to its present … [visit site to read more] or compare Best Credit Cards and Best CD Rates

ExxonMobil Stays Neutral

Posted: 21 Mar 2011 01:35 PM PDT

We are reiterating a Neutral recommendation on ExxonMobil Corporation (NYSE:XOM) following its strong fourth-quarter 2010 results and rewarding capital budget program. However, the company's low production volume expectation for 2011 keeps us on the sidelines. 

ExxonMobil's improved production and increased oil price realizations led to a 53% improvement in earnings last quarter to reach $9.25 billion on a year-over-year basis. Upstream earnings were about 29% higher from the … [visit site to read more] or compare Best Credit Cards and Best CD Rates

U.S. Markets Close Higher; Dow Jones Up 1.50%

Posted: 21 Mar 2011 01:30 PM PDT

Forex Pros – U.S. stocks were up after the closing bell on Monday.

At the close of U.S. trade, the Dow Jones Industrial Average rose 1.50%, the S&P 500 index gained 1.50%, while the Nasdaq 100 index climbed 1.87%.

Earlier in the day, industry data showed that existing home sales fell more-than-expected to a seasonally adjusted annual rate of 4.88M last month from 5.40M in the preceding month whose figure was revised up from 5.36M.

Analysts had expected existing home sales to fall to … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Time To Buy Uranium Mining Stocks?

Posted: 21 Mar 2011 01:25 PM PDT

(This is an excerpt of what was sent out to premium readers the morning of 3-16-11.)
There's an old saying in investing: Buy a winter coat in the summer. Uranium stocks are certainly out of season and deeply discounted. Media coverage has shifted from the destruction of the earthquake to the negative aspects of nuclear energy. Nothing puts fear into the public more than green men in radiation outfits. The media has taken this opportunity to capitalize on the fear of the masses. This has … [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: 21 Mar 2011 01:25 PM PDT

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

EUR/USD was trading at 1.4222, up 0.28% at time of writing.

The pair was likely to find support at 1.3864, Tuesday's low, and resistance at 1.4240, today's high.

Meanwhile, the Euro was down against the British Pound and up against the Japanese Yen, with EUR/GBP shedding 0.19% to hit 0.8719 and EUR/JPY rising 0.88% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates

U.S. Markets Close Higher; Dow Jones Up 1.51%

Posted: 21 Mar 2011 01:10 PM PDT

Forex Pros – U.S. stocks were up after the closing bell on Monday.

At the close of U.S. trade, the Dow Jones Industrial Average rose 1.51%, the S&P 500 index gained 1.50%, while the Nasdaq 100 index climbed 1.79%.

Earlier in the day, industry data showed that existing home sales fell more-than-expected to a seasonally adjusted annual rate of 4.88M last month from 5.40M in the preceding month whose figure was revised up from 5.36M.

Analysts had expected existing home sales to fall to … [visit site to read more] or compare Best Credit Cards and Best CD Rates

CRL For Eli Lilly’s Amyvid

Posted: 21 Mar 2011 01:05 PM PDT

Eli Lilly and Company (NYSE:LLY) recently received a complete response letter (CRL) from the US Food and Drug Administration (FDA) for its New Drug Application (NDA) for Amyvid (florbetapir F 18 injection).

Amyvid is a molecular imaging agent that has been designed to help detect amyloid plaque in the brain, which is associated with Alzheimer's disease. The FDA said that the company needs to implement a reader training program which will help ensure accurate and consistent interpretation of … [visit site to read more] or compare Best Credit Cards and Best CD Rates

GD Wing Wins Army Contract

Posted: 21 Mar 2011 12:55 PM PDT

General Dynamics C4 Systems, a business unit of General Dynamics Corporation (NYSE:GD), has received a $2.3 million U.S. Army’s Joint Battle Command – Platform (JBC-P) Handheld program contract.
Under the contract, General Dynamics will provide a prototype, handheld battle command capability that will help in providing increased command, control and situational awareness and unique network connectivity to soldiers and Marines. For its prototype design, General Dynamics will provide the rugged, … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Big Bank Dividends A Bad Idea

Posted: 21 Mar 2011 12:55 PM PDT

You can't help thinking that the news media suffers from a very bad case of Attention Deficit Disorder these days. That is not really the fault of the reporters or editors, but is due to the incredible onslaught of events so far this year. One would have thought that the possible shutdown of the U.S. government, which has been operating under a series of stop-gap funding measures — each lasting only a couple of weeks — would find its way to the front page on a regular basis.

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

Sempra Energy Sells Notes

Posted: 21 Mar 2011 12:55 PM PDT

As per a recent news release, Sempra Energy (NYSE:SRE) sold senior unsecured notes in two parts. Through the sale the energy utility has raised $800 million in two tranches. The first tranche of $500 million notes has a coupon rate of 2.00% and is due to mature on March 15, 2014 while the second tranche of 300 million notes, with a 3-month London Interbank Offered Rate plus 76 basis points, is due to mature on March 15, 2014.    
 
Sempra Energy will use the proceeds from … [visit site to read more] or compare Best Credit Cards and Best CD Rates

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

Posted: 21 Mar 2011 12:45 PM PDT

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

GBP/USD was trading at 1.6311, up 0.48% at time of writing.

The pair was likely to find support at 1.5975, Tuesday's low, and resistance at 1.6328, today's high.

Meanwhile, the British Pound was up against the Euro and the Japanese Yen, with EUR/GBP shedding 0.19% to hit 0.8719 and GBP/JPY rising 1.06% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates

FBIZ: Maintain Neutral On Fourth Quarter Results

Posted: 21 Mar 2011 12:35 PM PDT

Ann Heffron, CFA
FBIZ: Maintain Neutral on Fourth Quarter Results
We are continuing our Neutral on First Business Financial Services, Inc. (FBIZ), as well as our $12.75 target price.
 
FBIZ posted fourth quarter diluted EPS of $0.24, up from the $0.14 loss per share reported last year, but $0.06 short of our $0.30 estimate. The shortfall was principally due to a larger-than-expected increase in the loan loss provision. At the same time, nonperforming assets jumped 25% sequentially to $40.2 … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Alcoa Raises Product Prices

Posted: 21 Mar 2011 12:35 PM PDT

Effective March 15, Alcoa Inc. (NYSE:AA) raised the prices for several of its industrial heat-treated plate products in North America. Now, 6061 GE Plate and 6013 PowerPlate, including Mold Plate will be available at 10 cents higher per lb.

Alcoa also raised prices for its 2X/7X heat-treated plate products. However, the company removed the two 5% discounts on 2xxx and 7xxx plate, equaling the increases of just over 10% for the aerospace and defense products. Alcoa intends to honor all existing … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Gaming Innovations From NVIDIA

Posted: 21 Mar 2011 12:35 PM PDT

Gaming card manufacturer NVIDIA Corporation (NASDAQ:NVDA) recently launched two new products in the gaming card segment, namely the NVIDIA GeForce GTX 550 Ti graphics processing unit (GPU) and a new version of the NVIDIA 3D Vision wireless glasses kit, at a consolidated price of $149 million.
 
GTX 550 Ti is the latest addition to the NVIDIA Fermi line of consumer GPUs, which will help to deliver DirectX 11 (DX11) performance. This offers a new level of price/performance in the PC gaming … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Activision To Kick-Start Beta Test

Posted: 21 Mar 2011 12:35 PM PDT

A leading video game developer and publisher, Activision Blizzard Inc. (NASDAQ:ATVI) announced that it will flag off Starcraft II open beta testing in China from March 29, 2011. Developed by Blizzard Entertainment Inc., a division of Activision, StarCraft II is the sequel to Blizzard Entertainment’s 1998 blockbuster hit StarCraft.

During the open beta test, beta testers will be able to access the multiplayer modes of StarCraft II for free. Players interested to be a part of the open beta process … [visit site to read more] or compare Best Credit Cards and Best CD Rates

EMC’s Security Division Hacked

Posted: 21 Mar 2011 12:35 PM PDT

A leading provider of data storage and security solutions, EMC Corp. (NYSE:EMC) reported in a recent 8K filing that its security division RSA had witnessed a sophisticated cyber attack that compromised a widely-used technology for preventing unauthorized access to key corporate/government data.

EMC said in the filing that RSA did not offer any clues about the suspected origin of the attack. EMC also said that the infiltrators hacked confidential data on RSA’s SecurID products, but declined to … [visit site to read more] or compare Best Credit Cards and Best CD Rates

FirstEnergy Secures Solar Credits

Posted: 21 Mar 2011 12:35 PM PDT

FirstEnergy Corp. (NYSE:FE) said that its subsidiary Pennsylvania Power Company (Penn Power) has entered into a deal for 19,800 Solar Renewable Energy Credits (SRECs), for a nine-year term, at an average cost of $199.09 per SREC.

The procurement forms a part of Penn Power's SREC purchase plan aiming to meet the state’s Alternative Energy Portfolio Standards through 2020. Purchasing SRECs will help provide a stable basis for financing solar generation projects in Penn Power's service area and … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Sales Of Previously Occupied Homes Slide In February

Posted: 21 Mar 2011 12:30 PM PDT

03/21/11 According to reports, sales of previously occupied homes fell last month to an adjusted rate of 4.88 million. Therefore putting home rices atits lowest level in nearly 9 … [visit site to read more] or compare Best Credit Cards and Best CD Rates

The Moon Makes Fast Money

Posted: 21 Mar 2011 12:28 PM PDT

At the beginning of March, a reader alerted me to the following which was written by John Melloy, the Executive Producer of CNBC’s Fast Money show that precedes Cramer. Excerpts from the piece follow:
What happens when a bull market rising meets a bad moon rising? We’ll find out this month.
On March 19th, a full moon will occur at around the same time it reaches it’s closest point to earth in recent history. Rare planetary events such as this are often associated with above normal tides, an … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Hot Option Plays: Merger Announced

Posted: 21 Mar 2011 12:19 PM PDT

Cusick’s Corner
Earlier this morning optionsXpress and The Charles Schwab Corporation announced that they agreed to merge. I am excited about the new offerings and opportunities that may come from this merger. With that said, M&A is on the rise (see Bullish Flow) and blue chips are under pressure (see Bearish Flow). Libya and Japan have more clarity but still very volatile. This means that the trend is back in the bull's corner, but do not become too complacent — insurance is still … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex – USD/CAD Down In U.S. Trade

Posted: 21 Mar 2011 12:10 PM PDT

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

USD/CAD was trading at 0.9782, down 0.64% at time of writing.

The pair was likely to find support at 0.9750, today's low, and resistance at 0.9973, Tuesday's high.

Meanwhile, the U.S. Dollar was down against the Euro and the British Pound, with EUR/USD gaining 0.32% to hit 1.4227 and GBP/USD rising 0.49% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex Trading: AUDUSD Finds Profit Takers Against “remembered” Area

Posted: 21 Mar 2011 12:07 PM PDT

Earlier in the month, the AUDUSD had floor support around the 1.0063 area. The price has moved up to this area today and stalled. The corrective move off the top, has dipped below the 100 bar MA on the 5 minute chart but maintained the price above the 200 bar MA as the price consolidated the move higher.  The price has moved back above bull flag resistance on the 5 minute chart at the 1.0049 level which is also the 100 bar MA on the 5 minute chart (see chart below).  Can the bullish … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex – EUR/USD Up In U.S. Trading Hours

Posted: 21 Mar 2011 11:45 AM PDT

Forex Pros – The Euro was higher against the U.S. Dollar on Monday after the release of U.S. data on Existing Home Sales.

EUR/USD was trading at 1.4232, up 0.35% at time of writing.

The pair was likely to find support at 1.3864, Tuesday's low, and resistance at 1.4236, today's high.

Earlier in the day, industry data showed that existing home sales fell more-than-expected to a seasonally adjusted annual rate of 4.88M last month from 5.40M in the preceding month whose figure was revised up … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex Trading: European Stability Mechanism Helps The EURUSD

Posted: 21 Mar 2011 11:19 AM PDT

The European Stability Mechanism (ESM) details are being cited for the last move higher in the EURUSD.
The program which is reported to be up to 700 billion Euros of capital potentiallly earmarked, is designed to provide capital for members in need of liquidity in the form of direct loans. The mechanism is to cooperate closely with the IMF. The loans would be at either fixed or variable rates. The loans will have a big enough markup to cover the risks with loans over 3 years being priced at … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex – AUD/USD Up In U.S. Trade

Posted: 21 Mar 2011 11:15 AM PDT

Forex Pros – The Australian Dollar was higher against the U.S. Dollar on Monday.

AUD/USD was trading at 1.0042, up 0.82% at time of writing.

The pair was likely to find support at 0.9700, Tuesday's low, and resistance at 1.0070, today's high.

Meanwhile, the Australian Dollar was up against the Euro and the Japanese Yen, with EUR/AUD shedding 0.51% to hit 1.4168 and AUD/JPY rising 1.35% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates

European Markets Close Higher; Dax Up 2.28%

Posted: 21 Mar 2011 10:55 AM PDT

Forex Pros – European stocks were up after the closing bell on Monday.

At the close of European trade, Germany's DAX rose 2.28%, London's FTSE 100 gained 1.19%, France's CAC 40 climbed 2.47% and the EURO STOXX 50 was up 2.44%.

Meanwhile, on Wall Street, equity markets were up after the open. The Dow Jones Industrial Average was up 1.51%; the S&P 500 index gained 1.40%, while the Nasdaq 100 index climbed … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex – Dollar Mixed Versus Major Rivals In Calm Trade

Posted: 21 Mar 2011 08:55 AM PDT

Forex Pros – The U.S. dollar was mixed against its major rivals on Monday, as improved market sentiment bolstered demand for riskier assets while the euro remained supported by the outlook for a near-term rate hike by the European Central Bank.

During early U.S. trade, the greenback was up against the yen, with USD/JPY climbing 0.67% to hit 81.11.

Earlier in the day, Japanese authorities said they were making progress in cooling damaged reactors at the stricken Fukushima Daiichi nuclear … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex – GBP/USD Extends Gains As Risk Appetite Sharpens

Posted: 21 Mar 2011 08:36 AM PDT

Forex Pros – The pound climbed to a two-week high against the U.S. dollar on Monday, as optimism over progress in resolving Japan's nuclear crisis bolstered demand for riskier assets while investors remained wary of further interventions to curb the yen's gains.

GBP/USD hit 1.6295 during early U.S. trade, the pair's highest since March 7; the pair subsequently consolidated at 1.6279, rising 0.29%.

Cable was likely to find support at 1.6059, Friday's low and short-term resistance at … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex – EUR/USD Trading At 4-month High On ECB Rate View

Posted: 21 Mar 2011 08:17 AM PDT

Forex Pros – The euro was trading close to a four-month high against the U.S. dollar on Monday, after a senior official from the European Central Bank indicated that a near term interest rate bump was still highly lightly.

EUR/USD hit 1.4203 during early U.S. trade, the pair's highest since November 5; the pair subsequently consolidated at 1.4188, easing up 0.04%.

The pair was likely to find support at 1.3979, Friday's low and short-term resistance at 1.4281, the high of November … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex – Dollar Drifts Higher Against Yen As Risk Aversion Wanes

Posted: 21 Mar 2011 07:57 AM PDT

Forex Pros – The U.S. dollar drifted higher against the yen on Monday, as risk appetite sharpened and the threat of fresh intervention by the Group of Seven and the Bank of Japan to weaken the yen kept the currency in check.

USD/JPY hit 81.32 during early U.S. trade, the daily high; the pair subsequently consolidated at 81.07, advancing 0.61%.

The pair was likely to find support at 79.06, Friday's low and resistance at 81.98, the high of the same day.

On Friday, the G-7 industrialized … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex – USD/CAD Tumbles To 4-day Low As Oil Rallies On Libya

Posted: 21 Mar 2011 07:40 AM PDT

Forex Pros – The U.S. dollar tumbled to a four-day low against its Canadian counterpart on Monday, as crude oil, Canada's largest export rallied after coalition forces stepped up air strikes on Libya.

USD/CAD hit 0.9750 during European late afternoon trade, the pair's lowest since March 15; the pair subsequently consolidated at 0.9770, tumbling 0.76%.

The pair was likely to find support at 0.9667, the low of March 9 and a multi-year low and resistance at 0.9865, Friday's … [visit site to read more] or compare Best Credit Cards and Best CD Rates

U.S. Existing Home Sales Tumble In February

Posted: 21 Mar 2011 07:07 AM PDT

Forex Pros – U.S. existing home sales fell significantly more-than-expected in February, falling to a three-month low industry data showed on Monday.

In a report, the National Association of Realtors said that existing home sales fell 9.6% to a seasonally adjusted 4.88 million units in February, compared to 5.40 million units in January, whose figure was revised up from 5.36 million.

Analysts had expected existing home sales to fall 4.9% to a seasonally adjusted 5.05 million units in … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Morning News Notes: 3.21.11

Posted: 21 Mar 2011 06:25 AM PDT

The morning news notes as prepared by TL…Social Security, taxes, ATT acquires T-Mobile, Berkshire looking for more acquisitions, Egypt, Bahrain, Japan, and Libya. 

 

 ”Morning News Notes: March 21, 2011″

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

How The VAR Model And Japan’s Tragedy Affect Investors

Posted: 20 Mar 2011 10:00 PM PDT

Our thoughts and prayers are with the people of Japan. The videos, images and stories of the devastation caused by last week's earthquake and tsunami have touched our hearts and rattled investor psyches around the world.
The threat of disaster from the damaged Fukushima nuclear power plant unleashed a ferocious sell-off of Japanese equities, but the damage to other major markets has been limited. Already experiencing a slight pullback prior to the events on March 11, U.S. equities and … [visit site to read more] or compare Best Credit Cards and Best CD Rates
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