Monday, March 7, 2011

DailyMarkets.com - Why The Democrats Should Never Have Started Paying Ransom To Avoid A Shutdown

DailyMarkets.com - Why The Democrats Should Never Have Started Paying Ransom To Avoid A Shutdown

Why The Democrats Should Never Have Started Paying Ransom To Avoid A Shutdown

Posted: 07 Mar 2011 04:54 PM PST

It's called ransom. That's what Republicans are demanding from the White House and congressional Democrats for not pulling the plug on the government.
Problem is, when you pay ransom once, you're almost begging to pay it again. And that's exactly the pickle the Obama administration is finding itself in.
In order to avoid a shutdown last week and buy time until March 18, the White House agreed to more spending cuts for the remainder of this fiscal year than it originally put on the … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex – GBP/JPY Up During The Asian Session

Posted: 07 Mar 2011 04:45 PM PST

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

GBP/JPY was trading at 133.31, up 0.05% at time of writing.

The pair was likely to find support at 132.94, Monday's low, and resistance at 135.21, Friday's high.

Meanwhile, the British Pound was down against the U.S. Dollar and up against the Euro, with GBP/USD shedding 0.001% to hit 1.6202 and EUR/GBP falling 0.01% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Switching To A Dollar Coin: Seems Like A No-Brainer

Posted: 07 Mar 2011 04:44 PM PST

G-8 Country
Highest Widely Circulated Coin
U.S. Value
Lowest Bill
U.S. Value

Canada
2 Dollar
$1.97
5 Dollar
$4.92

France
2 Euro
$2.77
5 Euro
$6.92

Germany
2 Euro
$2.77
5 Euro
$6.92

Italy
2 Euro
$2.77
5 Euro
$6.92

Japan
500 Yen
$6.01
1,000 Yen
$12.02

Russia
10 Ruble
$0.33
50 Ruble
$1.67

United Kingdom
2 Pound
$3.18
5 Pound
$7.95

AVERAGE

$2.83

$6.76

United States
25 Cents
$0.25
1 Dollar
$1.00

The chart above is based on data from the Dollar Coin Alliance (DCA), a … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Embarrassing Images

Posted: 07 Mar 2011 04:37 PM PST

 
(Image: source.)
Although the images featured in the following four reports might make you blush with embarrassment, they are not titillating at all. On the contrary, any red-faced awkwardness you experience after looking at them likely stems from a fleeting sense of knee-jerk empathy for those highly-paid idiots experts who keep saying the economy is nearly back to normal, when clearly it is not.
“Healthy Consumer Relying On $1 Trillion Government Fix” (Investor’s Business Daily)
New … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Ecolab Wraps Up O.R. Solutions Buy

Posted: 07 Mar 2011 03:55 PM PST

Leading cleaning and sanitation products company Ecolab Inc (NYSE:ECL) has completed its acquisition of Virginia-based privately-held O.R. Solutions for roughly $260 million in cash. The Minnesota-based company announced the deal in November 2010.
O.R. Solutions develops and markets fluid warming and cooling systems (including custom-fit sterile drapes) that are designed to maintain the proper temperature of fluids used during surgeries such as cardiac procedures and transplants. These systems … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Pokémon Black And White Released

Posted: 07 Mar 2011 03:55 PM PST

03/07/11 Nintendo expanded the Pokémon universe, with the launch of the Black and White versions of the role playing … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex – NZD/USD Up In Asian Trade

Posted: 07 Mar 2011 03:50 PM PST

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

NZD/USD was trading at 0.7372, up 0.05% at time of writing.

The pair was likely to find support at 0.7339, Friday's low, and resistance at 0.7479, Wednesday's high.

Meanwhile, the New Zealand Dollar was up against the Australian Dollar and the Euro, with AUD/NZD shedding 0.01% to hit 1.3729 and EUR/NZD falling 0.08% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Nokia Remains Neutral

Posted: 07 Mar 2011 03:35 PM PST

We maintain our long-term Neutral recommendation on Nokia Corp. (NYSE:NOK). The company's fourth-quarter 2010 financial results easily beats the Zacks Consensus Estimates. However, management provided a tepid financial outlook. We remain cautiously optimistic regarding Nokia's recent decision to adopt Windows 7 software of Microsoft Corp. (NASDAQ:MSFT) as its smartphone operating system.
Nokia will utilize its expertise on hardware design and language support to innovate the Windows Phone 7 … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Four Trade Ideas For Tuesday, March 08

Posted: 07 Mar 2011 03:28 PM PST

 

 ( click to enlarge )

Starbucks Corporation (NASDAQ:SBUX) broke resistance today, hitting a new 52-week high. Today’s high of $34.79 is resistance for the continuation move. The technical daily chart above shows the momentum indicators have turned up and the RSI is on the rise. For the short term the stock should still continue to go up. A close above $34.79 would have positive implications and could drive the stock much higher. Keep SBUX on your radar……

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

Hot Option Plays: Capital Looking For A Home

Posted: 07 Mar 2011 03:17 PM PST

Cusick's Corner
The market held the lows and bounced into the After Hours, aided by lower crude and a selloff in the fixed income space. Capital needs a home and "Risk" assets are still the place to be. I have been professing protection over the last few weeks, but those who are long and want to add to their holdings without adding principle risk of buying stock, ratio call spreads (coupled with the existing long stock position) could be the answer. For this ratio call example with stock, … [visit site to read more] or compare Best Credit Cards and Best CD Rates

The Day Ahead: Crude Oil Prices, McDonald’s Monthly Sales Data, Earnings: Dick’s Sporting GoodsDick’s Sporting Goods, Boston Beer, Diamond Foods

Posted: 07 Mar 2011 03:15 PM PST

03/07/11 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

Reaffirming Symmetry At Neutral

Posted: 07 Mar 2011 03:10 PM PST

We reiterate our Neutral rating on Symmetry Medical (NYSE:SMA), an instrument supplier to orthopedic devices makers. Earnings for the fourth-quarter fiscal 2010 trailed the Zacks Consensus Estimate by a couple of cents while profit skyrocketed seven-fold year over year riding on a solid double-digit growth in revenues.
Revenues cruised roughly 26% year over year in the quarter, meeting the Zacks Consensus Estimate. Growth was boosted by higher demand across the Indiana-based company's orthopedic … [visit site to read more] or compare Best Credit Cards and Best CD Rates

ITW Expands Its Car Care Business

Posted: 07 Mar 2011 03:05 PM PST

Illinois Tool Works Inc. (NYSE:ITW) recently completed the acquisition of Shell SOPUS Products’ car care business, a leading automotive aftermarket consumer products portfolio, for an undisclosed amount.
The acquisition enhances Illinois Tool'scar care solutions business and will improve the vehicle owner's windshield visibility, protecting and cleaning vehicles, and improving vehicle performance. SOPUS Products' Car Care business includes brands such as Rain-X®, Black Magic® and Gumout®, … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Approval On AIG’s Nan Shan By 1H11

Posted: 07 Mar 2011 03:05 PM PST

American International Group Inc.'s (NYSE:AIG) Nan Shan Life Insurance Co. in Taiwan is expected to receive approval by the first half of this year (1H11). Yesterday, the Financial Supervisory Commission (FSC) of Taiwan announced that it will review the deal and take a decision earliest by the first half.
On January 12, 2011, AIG accepted the bid from Ruen Chen Investment Holding Co. Ltd. (Ruen Chen) in order to divest its 97.57% stake in its Nan Shan unit, for a cash deal of $2.16 billion. … [visit site to read more] or compare Best Credit Cards and Best CD Rates

IBM And KVTSDC To Help Job Seekers

Posted: 07 Mar 2011 02:35 PM PST

International Business Machines Corp (NYSE:IBM) has entered into a partnership with The Karnataka Vocational Training and Skill Development Corporation (KVTSDC), an organization of the Department of Labor in India, to develop a Smarter Employability Platform for employers and job seekers using mobile and cloud computing technologies.
Despite figures suggesting that only 7.0% of the Indian population have access to the mobile web, mobile devices are getting increasingly affordable, providing the … [visit site to read more] or compare Best Credit Cards and Best CD Rates

RenaissanceRe Sells Business

Posted: 07 Mar 2011 02:25 PM PST

RenaissanceRe Holdings Ltd. (NYSE:RNR) has consummated the sale of its U.S. property and casualty business to an Australian insurer – QBE Holdings, Inc. for about $275 million, which was announced in November, 2010.
RenaissanceRe's U.S. property and casualty business was underwritten through managing general agents, and its crop insurance business through Agro National Inc.
With the completion of this transaction, RenaissanceRe is now positioned well to concentrate more on its U.S. insurance … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Harris Wins A Massive Contract

Posted: 07 Mar 2011 02:25 PM PST

Harris Corp.(NYSE:HRS) is a leading supplier of communications equipment and services, recently won a massive contract worth $289 million from the Government of Alberta, Canada. The total contract size may extend to $370 million in order to prepare the Alberta First Responders Radio Communications System (AFRRCS). The project, once completed, will offer public safety communications within 256,000 square-mile area (661,190 square-kilometer area).
The development of P25 (Project 25), 700-MHz trunked … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Incyte Retains Neutral Rec

Posted: 07 Mar 2011 02:06 PM PST

We are maintaining our Neutral recommendation on Incyte Corporation (NASDAQ:INCY) with a target price of $15.00.
Incyte is a Wilmington, Delaware based drug discovery and development company with a focus on oral compounds to treat HIV, inflammation, cancer and diabetes. The company’s lead compound is INCB18424, an oral janus-associated kinase (JAK) antagonist.
Incyte expects to submit a new drug application (NDA) for the candidate for the treatment of myelofibrosis (MF) to the US Food and Dug … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Priority Review For CELG Drug

Posted: 07 Mar 2011 02:05 PM PST

Recently, Celgene Corporation (NASDAQ:CELG) announced that the US Food and Drug Administration (FDA) will review the supplemental New Drug Application (sNDA) for cancer drug Istodax (romidepsin) on a priority basis.
Istodax is already approved for treating patients suffering from T-cell lymphoma who have received at least one systemic therapy.  Celgene is now looking to get the drug approved for treating patients suffering from peripheral T-cell lymphoma (PTCL), who have received at least one … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Closing Bell Market Monitor: MCD, WDC, AMD

Posted: 07 Mar 2011 02:00 PM PST

03/07/11 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

Manufacturing In U.S. Makes More Sense Than In A Generation; China Not Such A Great Deal Any More

Posted: 07 Mar 2011 01:57 PM PST

Here’s an interesting article titled “Made in America: Small Businesses Buck the Offshoring Trend,” about how some manufacturing is being brought back to the U.S. from China, especially for smaller American firms, because of: a) rising labor costs in China, b) irregular quality, c) shipping costs that have doubled in the last year (see chart above), and d) the lack of safeguards on intellectual property.  Here are some key paragraphs from an article that suggests that America’s … [visit site to read more] or compare Best Credit Cards and Best CD Rates

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

Posted: 07 Mar 2011 01:55 PM PST

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

EUR/USD was trading at 1.3970, down 0.13% at time of writing.

The pair was likely to find support at 1.3744, Wednesday's low, and resistance at 1.4036, today's high.

Meanwhile, the Euro was up against the British Pound and down against the Japanese Yen, with EUR/GBP gaining 0.28% to hit 0.8622 and EUR/JPY falling 0.20% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates

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

Posted: 07 Mar 2011 01:40 PM PST

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

USD/JPY was trading at 82.24, down 0.09% at time of writing.

The pair was likely to find support at 81.58, Wednesday's low, and resistance at 83.05, Friday's high.

Meanwhile, the U.S. Dollar was up against the Euro and the British Pound, with EUR/USD shedding 0.11% to hit 1.3973 and GBP/USD falling 0.41% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates

IDEX Extends Tender Period

Posted: 07 Mar 2011 01:35 PM PST

IDEX Corporation (NYSE:IEX) announced that it has extended the subsequent tender offer period to acquire the remaining untendered shares of Microfluidics International Corporation (MFLU), through its subsidiary, Nano Merger Sub Inc. The time has been extended by seven days to March 10, 2011 from March 3, 2011.
Headquartered in Newton, MA, Microfluidics is a global leader in the design and manufacture of laboratory and commercial equipment used in the production of micro and nano scale … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Benihana Sales Up

Posted: 07 Mar 2011 01:35 PM PST

Benihana Inc.(NASDAQ:BNHN), the leading Asian restaurant chain in the United States, posted restaurant sales of $22.7 million for the four-week period ending February 27, 2011, up 4.6% from $27.9 million in the year-ago period.  The increased sales were driven by higher customer visitation despite bad weather conditions.
The company's comparable restaurant sales climbed 5.1% for the period, representing the thirteenth consecutive period of growth. In the first four-week period of the fourth … [visit site to read more] or compare Best Credit Cards and Best CD Rates

EMC Leads In External Disk Storage

Posted: 07 Mar 2011 01:35 PM PST

A leading provider of information infrastructure solutions, EMC Corp. (NYSE:EMC) maintained its leading market share position in external disk storage systems for the fourth quarter ended December 31, 2010.
According to latest data from research group IDC, EMC's market share was 26.0% in the fourth quarter, compared to its closest rival International Business Machines (IBM) 16.3%. Hewlett Packard Co. (HPQ) was #3 with 11.6%, followed by NetApp Inc. (NTAP) 10.3%, Hitachi Data Systems 8.7% and … [visit site to read more] or compare Best Credit Cards and Best CD Rates

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

Posted: 07 Mar 2011 01:25 PM PST

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

EUR/USD was trading at 1.3971, down 0.12% at time of writing.

The pair was likely to find support at 1.3744, Wednesday's low, and resistance at 1.4036, today's high.

Meanwhile, the Euro was up against the British Pound and down against the Japanese Yen, with EUR/GBP gaining 0.30% to hit 0.8624 and EUR/JPY falling 0.21% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates

U.S. Markets Close Lower; Dow Jones Down 0.66%

Posted: 07 Mar 2011 01:10 PM PST

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

At the close of U.S. trade, the Dow Jones Industrial Average fell 0.66%, the S&P 500 index shed 0.83%, while the Nasdaq 100 index declined 1.35%.

Meanwhile, across the Atlantic, European stock markets closed lower. France's CAC 40 was down 0.74%; Germany's DAX shed 0.24%; Britain's FTSE 100 declined 0.28%; and the EURO STOXX 50 fell … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Heart Stronger As BSX, Atritech Unite (revised)

Posted: 07 Mar 2011 01:06 PM PST

Boston Scientific (NYSE:BSX) has strengthened its structural heart portfolio with the acquisition of Minnesota based Atritech. Earlier, in January, the company had decided to acquire privately held Atritech for an upfront payment of $100 million.

In addition, milestone payments of up to $275 million may be made on achieving certain regulatory and revenue-based targets through 2015. The transaction will dilute the company's earnings by 1 cent on an adjusted basis for the next two years and be … [visit site to read more] or compare Best Credit Cards and Best CD Rates

American Airlines Announces $1 Billion Private Offering

Posted: 07 Mar 2011 01:00 PM PST

03/07/11 American Airlines announced Monday that it will begin a private offering of $1 billion in senior secured … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Cardica Microcutter Gets CE Mark

Posted: 07 Mar 2011 12:55 PM PST

Cardica (NASDAQ:CRDC) recently obtained CE Mark certification for its initial Microcutter surgical cutting and stapling device. As part of the multiple step approval process, the company has received a Full Quality Assurance certification for the Microcutter's design as well as manufacturing process.
Following receipt of this certification and upon conclusion of development activity, Cardica can apply its CE Mark to the first Microcutter product, the Microcutter XPRESS 30. It will also be able to … [visit site to read more] or compare Best Credit Cards and Best CD Rates

ArcelorMittal Bids For M

Posted: 07 Mar 2011 12:55 PM PST

Steel giant ArcelorMittal (NYSE:MT) is among the six preferred bidders picked to develop Mongolia’s Tavan Tolgoi mine, which could grant access to the world’s biggest untapped coking coal deposit.
Tavan Tolgoi, located in Mongolia’s south Gobi region, consists of six coal fields and Tsankhi is the main one, containing most of its coking coal resources. The mine is estimated to contain at least 5 billion metric tons of coal and will give the winning bidder a ready-made export market.
However, an … [visit site to read more] or compare Best Credit Cards and Best CD Rates

ITMN’s Esbriet Gets Approved In EU

Posted: 07 Mar 2011 12:55 PM PST

InterMune Inc. (NASDAQ:ITMN) announced that it received marketing authorization from the European Commission (EC) for its idiopathic pulmonary fibrosis (IPF) drug Esbriet in the European Union (EU), making it the first company to offer an IPF medicine in Europe. The approval of Esbriet in the European Union would give the company a major shot in the arm.
InterMune plans to launch the drug in the top five European countries first, beginning with Germany in September 2011, followed by France, Spain … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Ross’ Comps On The Rise

Posted: 07 Mar 2011 12:55 PM PST

Ross Stores Inc. (NASDAQ:ROST), the second largest off-price retailer of apparels and home accessories, recently marked the 13th consecutive quarter of positive comparable store sales trend, clocking 3.0% for the four weeks ended February 26, 2011. February same-store sales comfortably outpaced the company's forecast for flat to up 1% for the month.
Regionally, Mid-Atlantic and Florida acted as the catalyst for the increase in comparable store sales. Categories like Juniors and Dresses left a … [visit site to read more] or compare Best Credit Cards and Best CD Rates

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

Posted: 07 Mar 2011 12:45 PM PST

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

GBP/USD was trading at 1.6202, down 0.42% at time of writing.

The pair was likely to find support at 1.6183, today's low, and resistance at 1.6344, Wednesday's high.

Meanwhile, the British Pound was down against the Euro and the Japanese Yen, with EUR/GBP gaining 0.30% to hit 0.8624 and GBP/JPY falling 0.43% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Everyday Dumb Ideas In Boston; They Have A Shortage Of Grocers, But Mayor Is Anti-Wal-Mart

Posted: 07 Mar 2011 12:36 PM PST

"Wal-Mart does not suit the clientele we have in the city of Boston. I don't need employers like that in our city."

Last week, I featured a Boston Herald editorial by Michael Graham about Boston Mayor Tom Menino’s anti-Wal Mart position now that the retailer has “threatened” to bring jobs and low prices to the benefit of struggling families in Beantown.  

Today’s Boston Globe has a related, front page article titled “Shortage of Grocers Plagues Massachusetts … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Do Americans Still Love Credit Cards?

Posted: 07 Mar 2011 12:35 PM PST

Learning from the latest economic crisis, regulators have been trying to swap the credit card swiping trend with alternative payment methods and prompting consumers to reduce their credit card debts. Consequently, a declining trend of credit card usage has been witnessed in recent years.
But does this imply that the Americans' love for plastic credit is slowly dying out? A closer look into the underlying data might reveal that the US still moves on credit cards and that these remain a major … [visit site to read more] or compare Best Credit Cards and Best CD Rates

NU-NSTAR Merger Approved

Posted: 07 Mar 2011 12:35 PM PST

Northeast Utilities (NYSE:NU) and NSTAR (NYSE:NST) said that their shareholders have cast their votes in favor of merging their respective operations. The proposal for merger was put forward in October 2010.
Northeast Utilities, New England's largest utility system operator, said that about 98% of its shareholders voted in favor of the merger. The company pointed out that it received approval by roughly 140 million shares, out of about 176 million shares outstanding, meeting the requirement of … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex – USD/CAD Down In U.S. Trade

Posted: 07 Mar 2011 12:05 PM PST

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

USD/CAD was trading at 0.9730, down 0.05% at time of writing.

The pair was likely to find support at 0.9700, today's low, and resistance at 0.9776, Wednesday's high.

Meanwhile, the U.S. Dollar was up against the Euro and the British Pound, with EUR/USD shedding 0.14% to hit 1.3968 and GBP/USD falling 0.43% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex Trading: GBPUSD Tests Support Against Trendline Midpoint

Posted: 07 Mar 2011 11:45 AM PST

The GBPUSD has moved lower and tested the trendline on the daily chart (see chart above).  The pair has also taken a run at the 50% of the move up from the Feb 25th low to the high reached on March 2nd at 1.6342. The high today came up just short of that high at 1.6340. The failure to make new highs was enough to lead to the lower move today.   The midpoint of the move higher comes in at 1.6186. The low for the day came in at the 1.6181. 
Now, look for buyers against … [visit site to read more] or compare Best Credit Cards and Best CD Rates

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

Posted: 07 Mar 2011 11:15 AM PST

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

EUR/USD was trading at 1.3960, down 0.20% at time of writing.

The pair was likely to find support at 1.3744, Wednesday's low, and resistance at 1.4036, today's high.

Meanwhile, the Euro was up against the British Pound and down against the Japanese Yen, with EUR/GBP gaining 0.29% to hit 0.8623 and EUR/JPY falling 0.28% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex – AUD/USD Down In U.S. Trade

Posted: 07 Mar 2011 10:35 AM PST

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

AUD/USD was trading at 1.0100, down 0.37% at time of writing.

The pair was likely to find support at 1.0076, Friday's low, and resistance at 1.0190, Thursday's high.

Meanwhile, the Australian Dollar was down against the Euro and the Japanese Yen, with EUR/AUD gaining 0.17% to hit 1.3821 and AUD/JPY falling 0.49% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates

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

Posted: 07 Mar 2011 10:00 AM PST

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

NZD/USD was trading at 0.7363, down 0.29% at time of writing.

The pair was likely to find support at 0.7339, Friday's low, and resistance at 0.7479, Wednesday's high.

Meanwhile, the New Zealand Dollar was up against the Australian Dollar and down against the Euro, with AUD/NZD shedding 0.08% to hit 1.3718 and EUR/NZD rising 0.15% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates

European Markets Close Lower; Dax Down 0.24%

Posted: 07 Mar 2011 09:55 AM PST

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

At the close of European trade, Germany's DAX fell 0.24%, London's FTSE 100 shed 0.28%, France's CAC 40 declined 0.74% and the EURO STOXX 50 was down 0.59%.

Meanwhile, on Wall Street, equity markets were down after the open. The Dow Jones Industrial Average was down 0.86%; the S&P 500 index shed 1.14%, while the Nasdaq 100 index declined … [visit site to read more] or compare Best Credit Cards and Best CD Rates

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

Posted: 07 Mar 2011 09:00 AM PST

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

EUR/USD was trading at 1.3975, down 0.09% at time of writing.

The pair was likely to find support at 1.3744, Wednesday's low, and resistance at 1.4036, today's high.

Meanwhile, the Euro was up against the British Pound and down against the Japanese Yen, with EUR/GBP gaining 0.33% to hit 0.8626 and EUR/JPY falling 0.31% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex – Dollar Broadly Lower Vs. Rivals As Oil, Rate Outlook Weigh

Posted: 07 Mar 2011 08:14 AM PST

Forex Pros – The U.S. dollar was broadly lower against its major counterparts on Monday, as the combination of rising oil prices and the Federal Reserve's loose monetary policy weighed on investor sentiment towards the greenback.

During European late afternoon trade, the greenback was lower against the euro, with EUR/USD rising 0.09% to hit 1.4001.

Earlier in the day, rating agency Moody’s downgraded Greece’s sovereign rating to B1 from Ba1 and assigned it a negative outlook.

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

Forex – GBP/USD Hits 5-day Low As ECB Rate Story Eclipses BoE

Posted: 07 Mar 2011 08:03 AM PST

Forex Pros – The pound erased gains against the U.S. dollar on Monday, dropping to a five-day low as speculation that euro zone interest rates may rise before those in the U.K. weighed on the pound.

GBP/USD retreated from 1.6341, the pair's highest since Wednesday, to hit 1.6229 during European late afternoon trade, shedding 0.24%.

Cable was likely to find support at 1.6070, the low of February 28 and resistance at 1.6343, last Wednesday's high and a 13-month high.

On Thursday, ECB … [visit site to read more] or compare Best Credit Cards and Best CD Rates
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