Tuesday, March 8, 2011

DailyMarkets.com - US Cities With The Highest Levels Of Credit Card Debt

DailyMarkets.com - US Cities With The Highest Levels Of Credit Card Debt

US Cities With The Highest Levels Of Credit Card Debt

Posted: 08 Mar 2011 07:35 AM PST

Now that the dust has somewhat settled post the holiday shopping season, did US consumers end up with more credit card debt compared to a year ago?

According to the latest report from Experian, a credit rating agency which analyzed data from consumers’ bank credit cards including Visa (NYSE:V), MasterCard (NYSE:MA), American Express (NYSE:AXP) and Discover cards, the average consumer had an outstanding balance of more than $4,200 at the end of 2010.

That was a 4% decline in card debt from $4,467 … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Australian Dollar: The Downside Prevails

Posted: 08 Mar 2011 07:20 AM PST

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

Canadian Dollar: The Downside Prevails

Posted: 08 Mar 2011 07:20 AM PST

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

Manpower Survey Bullish, But Correction Threat Remains

Posted: 08 Mar 2011 07:08 AM PST

We have some good news on the hiring front this morning, which aligns with our longer-term bullish outlook. However, we remain concerned short-term, and will be patient in terms of redeploying the cash we have raised in recent weeks. According to Bloomberg:
More U.S. employers said they plan to boost payrolls in the second quarter, and fewer expect to reduce headcounts, a private survey found. Manpower Inc. (NYSE:MAN), the world's second-largest provider of temporary workers, said today … [visit site to read more] or compare Best Credit Cards and Best CD Rates

El Paso Pipeline Adds To SNG Stake

Posted: 08 Mar 2011 07:06 AM PST

El Paso Pipeline Partners L.P. (NYSE:EPB) said it will acquire an additional 22% interest in Southern Natural Gas Company (SNG) from El Paso Corporation (NYSE:EP). The partnership said it will pay roughly $587 million for the addition, which increases its ownership in SNG to 82%.
El Paso Corporation has granted El Paso Pipeline Partners a 45-day option to purchase up to an additional 3% interest in SNG. The terms of the deal were unanimously approved by the board of directors for the general partner, … [visit site to read more] or compare Best Credit Cards and Best CD Rates

U.S. IBD/TIPP Economic Optimism Index Plunges Unexpectedly

Posted: 08 Mar 2011 07:04 AM PST

Forex Pros – Consumer confidence in the U.S. plunged unexpectedly in March, industry data showed on Tuesday.

In a report, Investor’s Business Daily and TechnoMetrica Market Intelligence said their IBD/TIPP Economic Optimism Index dropped to 43.0 in March, down from February’s reading of 50.9.

Economists had expected the index to increase to 51.8 in March.

A reading above 50.0 indicates optimism, while those below 50.0 point to pessimism.

The index was 3.7 points below its 12-month average … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Breakout In Silver – Implications For Gold

Posted: 08 Mar 2011 06:59 AM PST

Silver has been red hot lately and the silver shares have joined in the fun. Yet, we haven't seen a corresponding breakout in Gold or in the gold shares (as evidenced by Market Vectors Junior Gold Miners ETF (GDXJ) and Market Vectors Gold Miners ETF (GDX)). In the chart below we show Global X Silver Miners ETF (SIL) (large silver stocks), Silver, Gold, GDXJ (gold juniors) and GDX (large cap golds).

Silver has been the clear winner as it broke out first while the large and … [visit site to read more] or compare Best Credit Cards and Best CD Rates

U.S. Stocks Mixed After The Open As Oil Drops; Dow Up 0.11%

Posted: 08 Mar 2011 06:58 AM PST

Forex Pros – U.S. stock markets were mixed after the open on Tuesday, as market sentiment improved as oil prices retreated from two-and-a-half-year highs.

During early U.S. trade, the Dow Jones Industrial Average climbed 0.11%, the S&P 500 index eased up 0.09%, while the Nasdaq Composite index shed 0.35%. 

Oil prices retreated from 29-month highs after the Organization of the Petroleum Exporting Countries said they were in discussions to boost production for the first time in more … [visit site to read more] or compare Best Credit Cards and Best CD Rates

HCN Completes Share Offer

Posted: 08 Mar 2011 06:55 AM PST

Health Care REIT Inc. (NYSE:HCN), a leading health care real estate investment trust (REIT) that operates senior housing and health care real estate, has recently completed its secondary offering of 28.75 million common shares at $49.25 each, including 3.75 million shares sold to the underwriters to cover the over-allotment options.
Health Care REIT raised approximately $1.4 billion of gross proceeds from the offer. The company intends to utilize the proceeds along with available cash and other … [visit site to read more] or compare Best Credit Cards and Best CD Rates

USD/CAD Forex Forecast For March 8, 2011

Posted: 08 Mar 2011 06:55 AM PST

by ForexMansion.com
USD/CAD
 
The USD/CAD has been testing a low back in 2008 at the 0.97-0.98 range. It appears that although we have not been able to break below it, the bounces have been abysmal as well. Longs in this pair are to be reconsidered as the range hasn't been much. (In fact, only 40 pips over the last three trading days.)
No new shorts can be initiated until we see a solid break below the 0.97 level, and that would lead to a move down to 0.95, and then the 0.90 … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Oil Prices, Cost Cuts Boost Sasol

Posted: 08 Mar 2011 06:55 AM PST

Sasol Ltd. (SSL) announced strong results for the six months ended December 31, 2010, aided by higher oil prices and cost control initiatives, but partially offset by an unfavorable exchange rate.
The South Africa-based petrochemicals group reported headline earnings per share, excluding one-time items, of R12.98 (U.S.$1.95), up from R10.69 (U.S.$1.40) earned during the corresponding period last year. Operating profit rose 14.8% to R12.0 billion.
Segmental Analysis
South African Energy Cluster: … [visit site to read more] or compare Best Credit Cards and Best CD Rates

AUD/NZD Forex Forecast For March 8, 2011

Posted: 08 Mar 2011 06:51 AM PST

by ForexMansion.com
AUD/NZD
 
The Aussie-Kiwi pair has been in a strong uptrend as the world knows. The 1.35 mark was recently smashed through after being considered significant resistance. This should serve a support once retested.
Monday's candle certainly looks bearish as the 1.37 area is turning price away at the moment. It is because of this that we believe the 1.35 is about to retested and should provide buying opportunities for traders. With a parabolic move like we have had, … [visit site to read more] or compare Best Credit Cards and Best CD Rates

USD/CHF Breaking Above Wedge Pattern; 0.9415 To Be Tested

Posted: 08 Mar 2011 06:51 AM PST

USD/CHF in Range Expansion Instead of Bearish Breakout 3/3
USD/CHF

- The USD/CHF found support at 0.92, after making this fresh all-time low.
- The 4H chart shows the RSI rising above 60, violating the bearish momentum, though not yet affirming bullish momentum
- Market action has formed a wedge and is breaking above it. The 38.2% fibonacci retracement level and a previous pivot reside at 0.9415. We can also see the SMA 200 at the 0.9450 level, so this zone is going to be important … [visit site to read more] or compare Best Credit Cards and Best CD Rates

USD/JPY Forex Forecast For March 8, 2011

Posted: 08 Mar 2011 06:47 AM PST

by ForexMansion.com
USD/JPY
 
Looking at the overall daily chart for this pair, you can see that a massive wedge has formed, and is currently controlling price and movement in this pair. The wedge is a matter of the fact that both the US and Japanese economies are weak at the moment, and nobody seems to want to own either currency.
Until we break the wedge, there is no trade in this pair. This is illustrated by the last three days perfectly: A "shooting star" followed by a … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex Trading: EURUSD Tests 200 Hour MA And Holds Test

Posted: 08 Mar 2011 06:45 AM PST

The EURUSD has continued its move to the downside and is down testing the 200 hour MA at the 1.3862 level (green line in the chart above). This level was the target support level talked about in our morning commentary (CLICK HERE). The market has found profit taking buyers against the level on the first test.  Resistance above now comes in at the 1.3905-11 level.  Staying below this level keeps the bears in charge – at least intraday.

The EURUSD has been under presssure and … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Understanding Moving Averages In Currency Trading Charts

Posted: 08 Mar 2011 06:45 AM PST

Technical analysis is a necessary part of being a solid Forex trader, one must be able to analyze and evaluate currency trading charts well. One of the first ways to understand looking at currency trading charts is through a comprehension of moving averages. These averages make a line through the medium price in a certain time frame to make the price changes a more even line. This leveling of price data directly translates to a trend following indicator.
Although this indicator is an excellent … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Urban Outfitters Falls Behind

Posted: 08 Mar 2011 06:36 AM PST

Urban Outfitters Inc. (NASDAQ:URBN), the retailer of apparel, footwear, and accessories, recently posted fourth-quarter 2011 earnings of 45 cents a share, falling behind the Zacks Consensus Estimate of 52 cents. However, earnings remained flat compared with the prior-year quarter, battered by mounting costs and increased concessions.
Urban Outfitters, which competes with Gap Inc. (NYSE:GPS) and Abercrombie & Fitch Co. (NYSE:ANF), announced that total net sales came in at $668.4 million, up 13.6% from … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Stock Market News Briefs: Atlas Pipeline Holdings, L.P., Accuray Incorporated, CIENA, Brinker International, Hitachi, Ltd., James River Coal Company, Morgan Stanley, Repligen, Starbucks, TomoTherapy Incorporated, UBS AG, Urban Outfitters, Western Digital Corporation

Posted: 08 Mar 2011 06:36 AM PST

 Ciena Corp. (NASDAQ:CIEN) reported a Q1 loss of $0.14 per share, lower than the Zacks Consensus Estimate of a loss of $0.30 per share

 Urban Outfitters (NASDAQ:URBN) reported Q4 EPS of $0.45, lower than the Zacks Consensus Estimate of $0.52 per share. Revenues for the quarter rose 14% year-over-year to $668.4 million, missing the Zacks Consensus Estimate of $674.0 million

 James River Coal Co (NASDAQ:JRCC) reported plans to buy International Resource Partners from Atlas Energy LP (NYSE:AHD) … [visit site to read more] or compare Best Credit Cards and Best CD Rates

U.S. Rig Count Snaps Losing Streak

Posted: 08 Mar 2011 06:36 AM PST

In its weekly release, Houston-based oilfield services company Baker Hughes Inc. (NYSE:BHI) reported a rise in the U.S. rig count (number of rigs searching for oil and gas in the country), primarily reflecting an increase in the number of land rigs.
The Baker Hughes rig count, issued since 1944, acts as an important yardstick for drilling contractors such as Transocean Inc. (NYSE:RIG), Diamond Offshore (NYSE:DO), Noble Corp. (NYSE:NE), Pride International (NYSE:PDE), Nabors Industries (NYSE:NBR), Patterson-UTI … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex – USD/CAD Edges Higher As Oil Prices Retreat After Rally

Posted: 08 Mar 2011 06:35 AM PST

Forex Pros – The U.S. dollar edged higher against its Canadian counterpart on Tuesday, easing up to a three-day high, as the price of crude oil, Canada's largest export, retreated.

USD/CAD hit 0.9748 during European late afternoon trade, the pair's highest since Thursday; the pair subsequently consolidated at 0.9739, easing up 0.07%.

The pair was likely to find support at 0.9697, Monday's low and resistance at 0.9775, last Thursday's high.

The dollar's gains came amid reports … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Rebound For Greenback As Crude Pares Recent Gains

Posted: 08 Mar 2011 06:29 AM PST

There’s nothing remarkable about today’s ascent in the value of the dollar’s basket to its strongest in six days except for the fact that the session is hardly off to a risk averse start. Government bond yields around the world are on the rise while equity indices have casually rebounded and in pre-market trading, U.S. indices are buoyant and crude oil prices have come off the boil.
U.S. Dollar – The only major unit managing gains versus the greenback is the Canadian unit, which is feeling the … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Before The Bell

Posted: 08 Mar 2011 06:25 AM PST

Swiss Franc: Under Pressure

Posted: 08 Mar 2011 06:20 AM PST

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

Japanese Yen: Under Pressure

Posted: 08 Mar 2011 06:20 AM PST

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

British Pound: Under Pressure

Posted: 08 Mar 2011 06:20 AM PST

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

Euro: Under Pressure

Posted: 08 Mar 2011 06:20 AM PST

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

GBP/JPY Is In A Flag Pattern Above Key Support At 132.85

Posted: 08 Mar 2011 06:19 AM PST

GBP/JPY's Short-term Bearish Scenario is Materializing (3/7)
GBP/JPY

- The 1H Chart shows the GBP/JPY consolidating above an important support at 132.85. The consolidation takes shape of a flag. Respect of 133.65 pivot is important if the market is in wave "4″ or an impulse wave. A break above 133.65 invalidates that, but essentially remains open to a bearish impulse wave with nesting if the market then stays below 134.05.
- There is no bearish momentum yet, as the RSI remained above … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Goldcorp Raises Dividend

Posted: 08 Mar 2011 06:10 AM PST

Goldcorp Inc. (NYSE:GG) increased its monthly dividend for 2011 to $0.034 per share, an 11% increase over the prior dividend.  The dividend is payable on March 25, 2011 to shareholders of record as of March 17, 2011. Goldcorp has been paying a monthly dividend to its shareholders since 2003.
The dividend increase was attributable to strong fourth-quarter 2010 earnings that the company announced in February. During the quarter, reported net earnings were $331.8 million compared with $66.7 … [visit site to read more] or compare Best Credit Cards and Best CD Rates

FWLT & Partners In A Saudi Contract

Posted: 08 Mar 2011 06:07 AM PST

A subsidiary of Global Engineering and Construction Group of  Foster Wheeler AG (NASDAQ:FWLT) along with its associative partners A. Al-Saihati, A. Fattani & O. Al-Othman Consulting Engineering Co., (SOFCON) and Saudi Consolidated Engineering Company – Khatib & Alami (SCEC K&A) has entered into a five-year agreement to provide services for General Engineering Services Plus (GES+) initiative of Saudi Aramco. The contract has an option to be extended beyond five year. The companies … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Comcast Is Still Neutral

Posted: 08 Mar 2011 06:07 AM PST

Comcast Corp. (NASDAQ:CMCSA) reported excellent fourth-quarter 2010 financial results, which easily beats the Zacks Consensus Estimates.  The company has become a media baron after completing the acquisition of majority stake in NBC Universal from General Electric Co. (NYSE:GE). Some of the TV channels of NBC Universal has global acceptance. At present, Comcast turned out to be highly diversified entertainment house, offering cable-TV/high-speed Internet connectivity, producing rich TV … [visit site to read more] or compare Best Credit Cards and Best CD Rates

USD/CHF Forex Forecast For March 8, 2011

Posted: 08 Mar 2011 05:59 AM PST

by ForexMansion.com
USD/CHF
 
Looking at the USD/CHF, you can see that a recent 500 pip consolidation area has been broken to the downside, only to find traders wondering what to do. Two areas, the 0.93 and the 0.92 have emerged as support and resistance in the meantime.
Any breaks below the 0.92 would trigger further selling, and based upon the previous consolidation (measuring it) we could see 0.88 before it's all over. If we break above the 0.93 handle, we could reenter the … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Crude Oil Rally Likely To Resume, Gold Positioning Reveals Bearish Cues

Posted: 08 Mar 2011 05:50 AM PST

Commodities – Energy
Oil Rally to Resume as Libya Crisis Lingers
WTI Crude Oil (NY Close): $105.44 // +$1.02 // +0.98%
Commentary: Crude prices pulled back overnight – stoking a rebound in Asian and European stock exchanges – after Reuters reported that embattled Libyan leader Muammar Qaddafi offered a conditional truce (whereby he would leave the country) to rebel forces. Optimism faded as quickly as it emerged however after the opposition rejected Qaddafi's overtures while the … [visit site to read more] or compare Best Credit Cards and Best CD Rates

GBP Extends Decline Past 1.62 Vs USD On Soft Retail Sales

Posted: 08 Mar 2011 05:49 AM PST

The Pound was weaker yesterday on news that Andrew Sentance would be replaced in the Bank of England Monetary Policy Committee by Ben Broadbent – who has a more balanced view of the need for an interest rate cut than the ultra-hawkish Sentance.
The GBP/USD had reached the 1.6340 area to start the week, but was rejected there and today fell through the $1.62 area as incoming data showed that UK retail sales were weaker than expected highlighting the retrenchment by … [visit site to read more] or compare Best Credit Cards and Best CD Rates

AUD/USD Tests Central Pivot At 1.0070

Posted: 08 Mar 2011 05:46 AM PST

A Look at Some Aussie Pairs (3/7 Video)
AUD/USD

- The AUD/USD is testing an important pivot at 1.0070. You can see its importance in the 4H chart. At the moment, it would be providing support.
- Note that this is in the middle of a triangle, which means it is the mean price. If the market remains above it, there is a bullish bias. Crossing below it just keeps the status quo of neutrality.
- A break below 1.00 however looks at targets of 0.9940, and 0.980 in the short-term.
- In the zoomed-in … [visit site to read more] or compare Best Credit Cards and Best CD Rates

ECON 101: Protectionism For Dummies

Posted: 08 Mar 2011 05:46 AM PST

In his latest article “The Social Snobbery of Free Trade” Ian Fletcher goes on yet another of his trademark anti-trade, protectionist tirades, claiming now that free trade advocates are snobs who look down on protectionists as “dummies, losers, incompetents, hippies, rednecks, dinosaurs, closet socialists, or crypto-fascists.”

In his conclusion, Fletcher writes that “It is high time people stopped forming their opinions about free trade based on what they think people will think of them at … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex – Dollar Broadly Higher Vs. Rivals As Oil Retreats

Posted: 08 Mar 2011 05:31 AM PST

Forex Pros – The U.S. dollar was broadly higher against its major counterparts on Tuesday, as market sentiment improved after reports that OPEC may boost oil production to help keep the global economic recovery on track.

During European afternoon trade, the greenback was up against the euro, with EUR/USD shedding 0.53% to hit 1.3895.

Earlier Tuesday, official data showed that German factory orders rose more-than-expected in January, amid strong domestic demand.

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

Air Product Raises Prices

Posted: 08 Mar 2011 05:25 AM PST

Effective April 4, 2011, Air Products and Chemicals Inc. (NYSE:APD) will increase prices of its Tomamine, Tomadry and Tomadyne surfactants by $0.05 per pound and Tomadol, Nonidet and Nonatell surfactants prices by $0.04 per pound driven by increase in raw material costs.
A few days back, Air Products also announced that, effective April 1, 2011, it will hike prices globally up to 5% for its range of epoxy curing agents, accelerators and adhesion promoters, and up to 10% for diluents and specialty … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Canada Housing Starts Rise More-than-expected In February

Posted: 08 Mar 2011 05:20 AM PST

Forex Pros – Canadian housing starts rose more-than-expected in February, industry data showed on Tuesday.

In a report, the Canada Mortgage and Housing Corporation said that the seasonally adjusted annual rate of housing starts rose to 182K units in February, compared to 171K units in January, whose figure was revised down from 170K.

Economists had expected housing starts to rise to 175K in February.

Commenting on the report, chief economist at CMHC's Market Analysis Centre Bob Dugan … [visit site to read more] or compare Best Credit Cards and Best CD Rates

GBP/USD Confirms Bearish Breakout To Test Wedge Support

Posted: 08 Mar 2011 05:19 AM PST

GBP/USD Setting up Range, Ascending Triangle Pattern Breakout (3/7)
GBP/USD

- We are seeing the bearish breakout scenario materialize. After breaking below 1.6215, the market consolidated a bit at 1.62. After two very minor "bumps" or bullish attempts around 1.62, we had a slide below to confirm the bearish breakout. The RSI also needs to break below 30 to confirm this bearish intent targeting 1.6085.
- The 4H chart shows that this 1.6085 area is near 78.6% retracement (1.61). The market … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex – Pound Extends Losses Against Dollar As Oil Prices Ease

Posted: 08 Mar 2011 05:16 AM PST

Forex Pros – The pound extended losses against the broadly stronger U.S. dollar on Tuesday, as oil prices retreated from recent highs and weak U.K. data weighed on sentiment towards the currency.

GBP/USD hit 1.6142 during European afternoon trade, the pair's lowest since February 28; the pair subsequently consolidated at 1.6152, shedding 0.30%.

Cable was likely to find support at 1.6070, the low of February 28 and resistance at 1.6341, Monday's high.

The dollar's gains came after … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Euro Slides On Sovereign Debt Concerns, Gives Up $1.40 Perch

Posted: 08 Mar 2011 05:15 AM PST

The Euro was weaker against the USD in today's session giving up the $1.40 level as oil retreated a bit overnight – helping to ease some of the pressure on greenback – while at the same time focus again turned to the debt problems of Euro-zone periphery nations.
Yesterday in our live coverage we had discussed some of the risk indicators that have been rising in regards to the sovereign debt situation. Yields on Portugal's 10-year bonds rose to their highest level since the introduction … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Is AUD Poorly Positioned Heading Forward?

Posted: 08 Mar 2011 05:05 AM PST

In today's trading we saw the AUD/USD pair fall rather strongly, as the USD strengthened against most of its rivals. However, we have see the pair again rejected at the 1.02 level. For the most part, the pair has been in sideways price action throughout the first two months of 2011 as it has been unable to push above 1.02, though at the same time is have been setting higher lows during the period.
For a technical analysis look at the AUD/USD pair see today's Technical Update: AUD/USD … [visit site to read more] or compare Best Credit Cards and Best CD Rates

The End Of SM Investment Corporation’s Rally?

Posted: 08 Mar 2011 05:00 AM PST

Filipino-Chinese Tycoon Henry Sy's investment holding firm, SM Investments Corporation (SMIC) or SM in the Philippine Stock Exchange earned a net income amounting to PHP 18.40 billion pesos in 2010 which was 15% higher than the previous year. SM's better-than-expected corporate earnings result carried the price of its shares from an opening of PHP 461.00 last March 3 to a closing of PHP 509.50 today (March 8). The increase in SM's income can be attributed mainly to the its retail business … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex – EUR/GBP Slips From 5-week High Amid Fresh Euro Debt Worries

Posted: 08 Mar 2011 05:00 AM PST

Forex Pros – The euro eased off a five-week high against the pound on Tuesday, as concerns about euro zone sovereign debt resurfaced, overshadowing expectations that the European Central Bank will raise rates ahead of the Federal Reserve.

EUR/GBP hit 0.8592 during European afternoon trade, the daily low; the pair subsequently consolidated at 0.8609, sliding 0.12%.

The pair was likely to find support at 0.8563, last Friday's low and resistance at 0.8635, the day's high and a five-week … [visit site to read more] or compare Best Credit Cards and Best CD Rates

EUR/USD Completes Wave Equality And Tests Key Pivot At 1.39

Posted: 08 Mar 2011 04:57 AM PST

EUR/USD Targets 1.4280 and 1.4400 but is Exhausted (3/7)
EUR/USD
- We mentioned yesterday that the EUR/USD was getting exhausted, but did not expect a meaningful correction. So far, the correction is sharp in the near-term.
- In the 1H chart, we see the RSI dip below 30, breaking short-term bullish momentum, and suggests we should be consolidating this week. Putting away the 1.4280, 1.44 target just for now (although they are not invalid), we are going to focus on this correction.
- The swing … [visit site to read more] or compare Best Credit Cards and Best CD Rates

NZD/USD Forex Forecast For March 8, 2011

Posted: 08 Mar 2011 04:51 AM PST

 
By ForexMansion.com
NZD/USD
 
The Kiwi dollar has been stuck in a range between the 0.7350 area and the 0.78 area for about 9 months. Recent price action has us retesting that lower part of the range, and forming potentially bullish patterns.
When looking at Friday's close, you see a hammer that formed right where you want to see it – the bottom of the range. Monday saw a doji form, and because of that we see a potential set up forming.
The top of the candle on Monday was the … [visit site to read more] or compare Best Credit Cards and Best CD Rates

GBP/USD Forex Forecast For March 8, 2011

Posted: 08 Mar 2011 04:49 AM PST

By ForexMansion.com
GBP/USD
 
Looking at the cable, you can see that we have been in a long, slow, grinding pattern for months. The 1.63 handle was once our recent highs and we have hit that area again, only to find that 1.6350 is too much for the bulls to overtake for the time being.
However, it should be noted that this move has been steady, and any pullback is probably going to be a buying opportunity. The recent trend line that has formed over the last several weeks could trigger more … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Housing Barometer Makes New Low

Posted: 08 Mar 2011 04:09 AM PST

How do we measure what is really going on within the housing market? Regularly we see reams of housing data from new home sales, housing starts, building permits, and the Case-Shiller Housing Index. What are we to make of these various indicators?
Is there a common denominator that can be derived and utilized to measure what is truly going on within our housing market? Thanks to our friends at 12th Street Capital for bringing to our attention just such a vehicle. Let's navigate, but bring … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex – Euro Slides To 3-day Low Against Broadly Stronger Dollar

Posted: 08 Mar 2011 03:54 AM PST

Forex Pros – The euro slid to a three-day low against the broadly stronger U.S. dollar on Tuesday, as oil prices retreated amid reports that the Organization of the Petroleum Exporting Countries may boost production, easing concerns over the impact of rising energy costs.

EUR/USD hit 1.3913 during European afternoon trade, the pair's lowest since Thursday; the pair subsequently consolidated at 1.3924, shedding 0.32%.

The pair was likely to find support at 1.3832, Thursday's low and … [visit site to read more] or compare Best Credit Cards and Best CD Rates

AUD/USD Forex Forecast For March 8, 2011

Posted: 08 Mar 2011 03:47 AM PST

by ForexMansion.com
AUD/USD
 
This pair has been consolidating between parity and the 1.02 for quite some time now. As shown on the chart, there is a bit of an argument as to whether we are going to consolidate further, or if we are going to break a potential ascending triangle. Either way, we should have our answer soon, as this pair is quickly reaching a point where the triangle could be invalidated.
Fundamentals:

The price of gold will be the biggest factor in this pair this week. Any … [visit site to read more] or compare Best Credit Cards and Best CD Rates

EUR/USD Forex Forecast For March 8, 2011

Posted: 08 Mar 2011 03:44 AM PST

By ForexMansion.com
EUR/USD
 
Looking at the daily chart for this pair, you can see that we have retested the 1.40 area, and found significant resistance at that point. The 1.38 area below looks destined to serve as support as well, so a consolidative move over the next few days is expected.
Any move below 1.38 would be very bearish, as a move above 1.40 on a daily close would be very bullish. New longs shouldn't be initiated until we find support at 1.38, or break for new … [visit site to read more] or compare Best Credit Cards and Best CD Rates

German Factory Orders Rise More-than-expected In January

Posted: 08 Mar 2011 03:06 AM PST

Forex Pros – German factory orders rose more-than-expected in January, official data showed on Tuesday.

In a report, Deutsche Bundesbank said factory orders rose by a seasonally adjusted 2.9% in January, after tumbling by 3.6% in December, whose figure was revised from a decline of 3.4%. 

Analysts had expected German factory orders to rise by 2.5% in January.

The data showed that year-on-year German factory orders rose more-than-expected in January, rising by an annualized 16.0%, … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex – USD/CHF Hits 9-day High As Oil Prices Ease On OPEC Talks

Posted: 08 Mar 2011 02:02 AM PST

Forex Pros – The U.S. dollar climbed to a nine-day high against the Swiss franc on Tuesday, as reports that the Organization of the Petroleum Exporting Countries may boost production saw oil prices ease.

USD/CHF hit 0.9355 during European morning trade, the pair's highest since February 23; the pair subsequently consolidated at 0.9320, climbing 0.58%.

The pair was likely to find support at 0.9234, Monday's low and resistance at 0.9391, the high of February 23.

Earlier in the day, … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Europe Stock Markets Advance As Oil Prices Retreat; DAX Up 0.43%

Posted: 08 Mar 2011 01:59 AM PST

Forex Pros – European stock markets were higher on Tuesday, as oil prices retreated from two-and-a-half-year highs, while U.S. futures indexes pointed to an upbeat open on Wall Street.

During European morning trade, the EURO STOXX 50 climbed 0.33%, France's CAC 40 added 0.31%, while Germany’s DAX gained 0.43%.

Oil prices retreated from 29-month highs after the Organization of the Petroleum Exporting Countries said they were in discussions to boost production for the first time in more … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex – Dollar Up Against Most Rivals As Oil Prices Ease

Posted: 08 Mar 2011 01:35 AM PST

Forex Pros – The U.S. dollar was higher against most of its major counterparts on Tuesday, as oil prices eased after surging to a two-and-a-half-year high on Monday, as talks to discuss increasing supplies looked set to begin.

During European morning trade, the greenback was up against the euro, with EUR/USD shedding 0.20% to hit 1.3940.

The greenback was also fractionally higher against the pound, with GBP/USD dipping 0.03% to hit 1.6195.

Earlier Tuesday, industry data showed that U.K. … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex – GBP/USD Hits 6-day Low As Weak U.K. Data Weighs

Posted: 08 Mar 2011 01:18 AM PST

Forex Pros – The pound fell to a six-day low against the broadly stronger U.S. dollar on Tuesday, after industry data showed that U.K. retail sales fell in February, while house prices continued to drop.

GBP/USD hit 1.6172 during European morning trade, the pair's lowest since February 28; the pair subsequently consolidated at 1.6189, shedding 0.07%.

Cable was likely to find support at 1.6070, the low of February 28 and resistance at 1.6341, Monday's high.

Earlier in the day, the … [visit site to read more] or compare Best Credit Cards and Best CD Rates

The Dollar Index: High Risk Of Unraveling

Posted: 07 Mar 2011 08:44 AM PST

I am sure that you are aware that the Dollar Index can’t get a bid.  This isn’t news but a fact. The Dollar Index is in a down trend, and the question to ponder is: how low can it go?  Looking at the price patterns, I believe the Dollar is at significant risk of unraveling.

Figure 1 is a weekly chart of the Dollar Index (symbol: $DXY).  The black dots over the price bars are pivot points, and as we can see, price closed last week below the two most recent pivot points (labeled … [visit site to read more] or compare Best Credit Cards and Best CD Rates
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