Monday, May 30, 2011

DailyMarkets.com - Forex – Dollar Hovering Just Above All-time Low Vs. Swiss Franc

DailyMarkets.com - Forex – Dollar Hovering Just Above All-time Low Vs. Swiss Franc


Forex – Dollar Hovering Just Above All-time Low Vs. Swiss Franc

Posted: 30 May 2011 03:13 AM PDT

Forex Pros – The U.S. dollar was hovering just above an all-time low against the Swiss franc on Monday, as expectations for slower U.S. growth and concerns over a possible restructuring of Greek sovereign debt supported demand for the safe haven franc.<br /><br />USD/CHF hit 0.8532 during European late morning trade, the daily high; the pair subsequently consolidated at 0.8494, easing up 0.04%.<br /><br />The pair was likely to find short-term support at 0.8461, … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Corn Futures Rally To 4-day High On Increased China Demand

Posted: 30 May 2011 02:58 AM PDT

Forex Pros – Corn futures rallied to a four-day high on Monday, after the U.S. Department of Agriculture confirmed U.S. exporters sold corn to China last week, boosting demand expectations from the world&rsquo;s second largest corn consumer.&nbsp; <br /><br />On the Chicago Mercantile Exchange, corn futures for July delivery traded at USD7.5825 a bushel during European morning trade, climbing 1.32%.&nbsp; <br /><br />It earlier rose as much as 1.48% to … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Forex – Euro Dips Against Pound As Greek Debt Fears Weigh

Posted: 30 May 2011 02:28 AM PDT

Forex Pros – The euro dipped against the pound in holiday thinned trade on Monday, slipping to a daily low as fears over a possible Greek debt default cast a pall over the single currency.<br /><br />EUR/GBP hit 0.8657 during European morning trade, the daily low; the pair subsequently consolidated at 0.8666, dipping 0.07%.<br /><br />The pair was likely to find support at 0.8608, last Thursday&rsquo;s low and a two-month low and resistance at 0.8710, last … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


European Stocks Mixed In Thin Trade; DAX Up 0.3%

Posted: 30 May 2011 02:19 AM PDT

Forex Pros – European stock markets were mixed in thin holiday trade on Monday, as unresolved Greek sovereign debt issues weighed on market sentiment, while shares in German utilities performed poorly.&nbsp; <br /><br />During European morning trade, the EURO STOXX 50 eased down 0.06%, France&rsquo;s CAC 40 edged 0.1% lower, while Germany’s DAX 30 climbed 0.3%. <br />&nbsp; <br />Shares in German nuclear power plant operator RWE dropped 2.45%, while rival … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Central Bank Of Russia Raises Overnight Deposit Rate 25bps To 3.50%

Posted: 30 May 2011 01:48 AM PDT

The Central Bank of Russia increased its fixed overnight deposit rate by 25 basis points to 3.50% from 3.25%.  The Bank held the benchmark refinancing rate unchanged at 8.25% and the overnight auction-based repurchase rate at 5.50%, while also leaving reserve requirements unchanged.  The Bank said: “This decision was taken keeping in mind the high level of inflationary expectations and risks for sustainable economic growth,”. 

Russia reported annual inflation of 9.6% in April, … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Saudi Arabian Monetary Agency Holds Reverse Repo Rate At 0.25%

Posted: 30 May 2011 01:35 AM PDT

The Saudi Arabian Monetary Agency (SAMA) held its overnight reverse repurchase rate at 0.25% and the benchmark repurchase rate at 2.00%.  Saudi Arabia’s money supply rose 17.2% YoY in April, and the central bank’s foreign assets increased 13.2% YoY.  Lending to the private sector increased to SR802.5 billion in April, from SR798.2 billion in March, and up from SR750.6 billion in April 2010.  Saudi Arabia reported annual inflation of 4.8% in April this year.

SAMA last cut its … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Forex – Dollar Broadly Higher Vs. Rivals Amid Greek Debt Concerns

Posted: 30 May 2011 01:27 AM PDT

Forex Pros – The U.S. dollar was broadly higher against its major counterparts on Monday, as worries about the risk of a debt restructuring by Greece continue to weigh on market sentiment.<br /><br />During European morning trade, the greenback was up against the euro, with EUR/USD sliding 0.20% to hit 1.4292.<br /><br />Later in the week, the International Monetary Fund, the European Union and the European Central Bank were expected to deliver a report on … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Forex – USD/GBP Off 13-day High As Euro Debt Woes Weigh

Posted: 30 May 2011 01:07 AM PDT

Forex Pros – The pound was lower against the U.S. dollar on thin trade on Monday, retreating from an almost three-week high as concerns over a possible restructuring of Greek debt curbed demand for riskier assets.<br /><br />GBP/USD retreated from 1.4321, the daily high, to high 1.6461 during European morning trade, slipping 0.27%.<br /><br />Cable was likely to find support at 1.4124, Friday&rsquo;s low and resistance at 1.4422, the high of May 11.<br … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Crude Oil Futures Slump On U.S. Demand Concerns

Posted: 30 May 2011 01:00 AM PDT

Forex Pros – Crude oil futures declined on Monday, slumping to a two-day low as worries that the U.S. economic recovery was faltering sparked concerns over a slowdown in demand from the world&rsquo;s largest user.<br /><br />On the New York Mercantile Exchange, light, sweet crude futures for delivery in July traded at USD100.05 a barrel during European morning trade, shedding 0.68%.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br /><br />It earlier fell as … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Forex – Dollar Eases Off Two-week Low Vs. Yen But Gains Limited

Posted: 30 May 2011 12:30 AM PDT

Forex Pros – The U.S. dollar eased off a two-week low against the yen on Monday, but gains were limited amid concerns over the outlook for U.S. growth and fears over a possible restructuring of Greek debt.<br /><br />USD/JPY hit 80.96 during early European trade, the daily high; the pair subsequently consolidated at 80.83, easing up 0.05%.<br /><br />The pair was likely to find short-term support at 80.33, the low of May 13 and resistance at 81.41, Friday&rsquo;s … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Gold Futures Hover Close To 3-week High On U.S., Greece Worries

Posted: 30 May 2011 12:21 AM PDT

Forex Pros – Gold futures eased off a three-week in holiday-thinned trade on Monday, but losses were limited as concerns over the pace of the U.S. economic recovery and unresolved Greek sovereign debt issues supported prices. <br /><br />On the Comex division of the New York Mercantile Exchange, gold futures for August delivery traded at USD1,535.75 a troy ounce during late Asian trade, easing down … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Forex – AUD/USD Pulls Away From 13-day High After Weak Data

Posted: 30 May 2011 12:08 AM PDT

Forex Pros – The Australian dollar pulled away from a 13-day high against its U.S. counterpart on Monday, after government data showed that Australian business profits unexpectedly dropped in the three months through March for a third consecutive quarter.<br /><br />AUD/USD retreated from 1.0724, the pair&rsquo;s highest since May 11, to hit 1.0698 during late Asian trade, slipping 0.06%.<br /><br />The pair was likely to find support at 1.0580, last … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Forex – NZD/USD Slips After Rising To Record High On Export Data

Posted: 29 May 2011 11:48 PM PDT

Forex Pros – The New Zealand dollar slipped against its U.S. counterpart on Monday, easing off a record high hit after official data showed that the nation&rsquo;s trade surplus widened twice as much as economists expected to a record in April.<br /><br />NZD/USD pulled back from 0.8216, the pair&rsquo;s highest since exchange rate controls ended in 1985, to hit 0.8175 during late Asian trade, slipping 0.18%.<br /><br />The pair was likely to find support at … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Asia Stocks Mixed On U.S. Recovery Concerns; Nikkei Sheds 0.2%

Posted: 29 May 2011 11:41 PM PDT

Forex Pros – Asian stock markets were mixed in thin trade on Monday, as market sentiment was weighed by concerns over the pace of the U.S. economic recovery, while shares in Japanese exporters were pressured by a stronger yen.<br /><br />During late Asian trade, Hong Kong’s Hang Seng Index rose 0.34%, South Korea’s Kospi Composite slumped 0.31%, while Japan&rsquo;s Nikkei 225 Index shed 0.2%. <br /><br />Data on Friday showed that pending home sales in the U.S. … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Forex – EUR/USD Off 5-day High As Greece Concerns Weigh

Posted: 29 May 2011 11:29 PM PDT

Forex Pros – The euro pulled away from a five-day high against the U.S. dollar on Monday, as markets awaited the outcome of a review of Greece&rsquo;s financial progress.<br /><br />EUR/USD hit 1.4258 during late Asian trade, the daily low; the pair subsequently consolidated at 1.4269, shedding 0.34%.<br /><br />The pair was likely to find support at 1.4124, Friday&rsquo;s low and resistance at 1.4422, the high of May 11.<br /><br />Later in the … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


The Truth About The American Economy

Posted: 29 May 2011 11:28 PM PDT

The U.S. economy continues to stagnate. It's growing at the rate of 1.8 percent, which is barely growing at all. Consumer spending is down.
It's vital that we understand the truth about the American economy.
How did we go from the Great Depression to 30 years of Great Prosperity? And from there, to 30 years of stagnant incomes and widening inequality, culminating in the Great Recession? And from the Great Recession into such an anemic recovery?
The Great Prosperity
During three decades from … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Forex – EUR/USD Down During The Asian Session

Posted: 29 May 2011 10:40 PM PDT

Forex Pros – The Euro was lower against the U.S. Dollar on Monday.<br/><br/> EUR/USD was trading at 1.4265, down 0.38% at time of writing.<br/><br/> The pair was likely to find support at 1.4014, Wednesday&rsquo;s low, and resistance at 1.4324, Friday&rsquo;s high.<br/><br/> Meanwhile, the Euro was down against the British Pound and the Japanese Yen, with EUR/GBP shedding 0.16% to hit 0.8660 and EUR/JPY falling 0.39% to hit … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Forex – GBP/USD Down In Asian Trade

Posted: 29 May 2011 10:15 PM PDT

Forex Pros – The British Pound was lower against the U.S. Dollar on Monday.<br/><br/> GBP/USD was trading at 1.6475, down 0.20% at time of writing.<br/><br/> The pair was likely to find support at 1.6133, Wednesday&rsquo;s low, and resistance at 1.6514, Friday&rsquo;s high.<br/><br/> Meanwhile, the British Pound was up against the Euro and down against the Japanese Yen, with EUR/GBP shedding 0.10% to hit 0.8665 and GBP/JPY falling 0.22% to hit … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Forex – EUR/CHF Up In Asian Trading Hours

Posted: 29 May 2011 09:50 PM PDT

Forex Pros – The Euro was higher against the Swiss Franc on Monday.<br/><br/> EUR/CHF was trading at 1.2160, up 0.02% at time of writing.<br/><br/> The pair was likely to find support at 1.2104, Friday&rsquo;s low, and resistance at 1.2409, Wednesday&rsquo;s high.<br/><br/> Meanwhile, the Euro was down against the U.S. Dollar and the Japanese Yen, with EUR/USD shedding 0.34% to hit 1.4271 and EUR/JPY falling 0.35% to hit … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


GBP/USD Finally Slows Down Momentum At 1.65 For Possible Correction

Posted: 29 May 2011 09:43 PM PDT

GBP/USD Completing a Bullish Impulse Wave after Breaking Above Channel? (5/26)
GBP/USD

Short-Term- The GBP/USD got to the 1.65 level, which is near the 61.8% retracement of the May decline (1.6750 to 1.6050).
- Looking at the 1H chart, we see that this rally has been sharp and within a rising channel. Thinking in Elliott Wave terms, perhaps this dynamic move in the channel is a 3rd wave of a 5-wave bullish impulse rally.
- If this is the case, a break below it might signal that the 4th wave … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Forex – USD/CHF Up During The Asian Session

Posted: 29 May 2011 09:20 PM PDT

Forex Pros – The U.S. Dollar was higher against the Swiss Franc on Monday.<br/><br/> USD/CHF was trading at 0.8515, up 0.27% at time of writing.<br/><br/> The pair was likely to find support at 0.8466, Friday&rsquo;s low, and resistance at 0.8814, Wednesday&rsquo;s high.<br/><br/> Meanwhile, the U.S. Dollar was up against the Euro and down against the Japanese Yen, with EUR/USD shedding 0.24% to hit 1.4285 and USD/JPY falling 0.01% to hit … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


AUD/NZD Targets 1.28

Posted: 29 May 2011 09:17 PM PDT

AUD/NZD Completes Harmonic Retracement Pattern at 1.31 (5/26)
AUD/NZD

Short-term to Medium Term- The AUD/NZD did not bat an eye when it completed a retracement pattern. Instead, it is accelerating further than wave equality projected, at 1.31. The current decline is not looking at the next support pivot seen in the daily chart at 1.28.
- The next one below that is 1.2640. In the very bearish scenario, which price action is suggesting, we should find resistance below 1.32. Breaking this was … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Forex – EUR/GBP Down In Asian Trade

Posted: 29 May 2011 09:00 PM PDT

Forex Pros – The Euro was lower against the British Pound on Monday.<br/><br/> EUR/GBP was trading at 0.8670, down 0.05% at time of writing.<br/><br/> The pair was likely to find support at 0.8611, Thursday&rsquo;s low, and resistance at 0.8713, Wednesday&rsquo;s high.<br/><br/> Meanwhile, the Euro was down against the U.S. Dollar and the Japanese Yen, with EUR/USD shedding 0.22% to hit 1.4289 and EUR/JPY falling 0.18% to hit … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Forex – USD/JPY Up In Asian Trading Hours

Posted: 29 May 2011 08:35 PM PDT

Forex Pros – The U.S. Dollar was higher against the Japanese Yen on Monday.<br/><br/> USD/JPY was trading at 80.80, up 0.001% at time of writing.<br/><br/> The pair was likely to find support at 80.71, Friday&rsquo;s low, and resistance at 82.17, Wednesday&rsquo;s high.<br/><br/> Meanwhile, the U.S. Dollar was up against the Euro and the British Pound, with EUR/USD shedding 0.22% to hit 1.4289 and GBP/USD falling 0.15% to hit … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Forex – USD/CAD Up During The Asian Session

Posted: 29 May 2011 08:10 PM PDT

Forex Pros – The U.S. Dollar was higher against the Canadian Dollar on Monday.<br/><br/> USD/CAD was trading at 0.9768, up 0.06% at time of writing.<br/><br/> The pair was likely to find support at 0.9744, Wednesday&rsquo;s low, and resistance at 0.9816, Thursday&rsquo;s high.<br/><br/> Meanwhile, the U.S. Dollar was up against the Euro and the British Pound, with EUR/USD shedding 0.22% to hit 1.4288 and GBP/USD falling 0.14% to hit … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Forex – AUD/USD Down In Asian Trade

Posted: 29 May 2011 07:30 PM PDT

Forex Pros – The Australian Dollar was lower against the U.S. Dollar on Monday after the release of Australian data on Company Gross Operating Profits.<br/><br/> AUD/USD was trading at 1.0696, down 0.09% at time of writing.<br/><br/> The pair was likely to find support at 1.0441, Wednesday&rsquo;s low, and resistance at 1.0725, Monday&rsquo;s high.<br/><br/> Earlier in the day, official data showed that Gross operating profits of Australian … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Forex – GBP/CHF Up In Asian Trading Hours

Posted: 29 May 2011 07:05 PM PDT

Forex Pros – The British Pound was higher against the Swiss Franc on Monday.<br/><br/> GBP/CHF was trading at 1.4033, up 0.10% at time of writing.<br/><br/> The pair was likely to find support at 1.3956, Friday&rsquo;s low, and resistance at 1.4260, Wednesday&rsquo;s high.<br/><br/> Meanwhile, the British Pound was down against the U.S. Dollar and up against the Euro, with GBP/USD shedding 0.16% to hit 1.6481 and EUR/GBP falling 0.04% to hit … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Forex – AUD/USD Down On Economic Data

Posted: 29 May 2011 06:50 PM PDT

Forex Pros – The Australian Dollar was lower against the U.S. Dollar on Monday after the release of Australian data on Company Gross Operating Profits.<br/><br/> AUD/USD was trading at 1.0692, down 0.13% at time of writing.<br/><br/> The pair was likely to find support at 1.0441, Wednesday&rsquo;s low, and resistance at 1.0725, Monday&rsquo;s high.<br/><br/> Earlier in the day, official data showed that Gross operating profits of Australian … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Australian CGOP Rises Less-than-expected

Posted: 29 May 2011 06:45 PM PDT

Forex Pros – Gross operating profits of Australian companies rose less-than-expected in the last quarter, official data showed on Monday.<br/><br/>In a report, Australian Bureau of Statistics said that Australian CGOP rose to a seasonally adjusted -2.0%, from -2.8% in the preceding quarter.<br/><br/>Analysts had expected Australian CGOP to rise to 2.1% in the last … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Forex – EUR/USD Down During The Asian Session

Posted: 29 May 2011 06:35 PM PDT

Forex Pros – The Euro was lower against the U.S. Dollar on Monday.<br/><br/> EUR/USD was trading at 1.4302, down 0.13% at time of writing.<br/><br/> The pair was likely to find support at 1.4014, Wednesday&rsquo;s low, and resistance at 1.4324, Friday&rsquo;s high.<br/><br/> Meanwhile, the Euro was down against the British Pound and the Japanese Yen, with EUR/GBP shedding 0.02% to hit 0.8672 and EUR/JPY falling 0.10% to hit … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Megaworld Corporation’s (MEG) Target Price

Posted: 29 May 2011 06:33 PM PDT

Megaworld Corporation (MEG)
Consensus Target Price: PHP 2.86

Firm Name
Analyst
Target Price
Date Released

Macquarie
Pomento
2.67
5/26/2011

Credit Suisse
Narvaez
2.8
5/19/2011

CitisecOnline
Laneda
3.36
5/18/2011

JPMorgan
Lopez
2.32
5/17/2011

Kim Eng Securities
Puig
2.10
5/16/2011

SB Equities
Balita
3.35
5/9/2011

Deutsche Bank
Sy
2.55
4/11/2011

Phil. Equity Partners
Velasco
3.06
4/8/2011

 
*Target Price is set at 6 to 12 months from release.
*Data taken from … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Forex – USD/JPY Up In Asian Trading Hours

Posted: 29 May 2011 06:00 PM PDT

Forex Pros – The U.S. Dollar was higher against the Japanese Yen on Monday.<br/><br/> USD/JPY was trading at 80.89, up 0.12% at time of writing.<br/><br/> The pair was likely to find support at 80.71, Friday&rsquo;s low, and resistance at 82.17, Wednesday&rsquo;s high.<br/><br/> Meanwhile, the U.S. Dollar was up against the Euro and the British Pound, with EUR/USD shedding 0.22% to hit 1.4289 and GBP/USD falling 0.16% to hit … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Forex – EUR/JPY Down In Asian Trade

Posted: 29 May 2011 05:25 PM PDT

Forex Pros – The Euro was lower against the Japanese Yen on Monday.<br/><br/> EUR/JPY was trading at 115.55, down 0.12% at time of writing.<br/><br/> The pair was likely to find support at 114.48, Thursday&rsquo;s low, and resistance at 116.38, Thursday&rsquo;s high.<br/><br/> Meanwhile, the Euro was down against the U.S. Dollar and the British Pound, with EUR/USD shedding 0.24% to hit 1.4286 and EUR/GBP falling 0.10% to hit … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


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