Tuesday, May 3, 2011

DailyMarkets.com - Pfizer Tops On EPS, Misses On Revs

DailyMarkets.com - Pfizer Tops On EPS, Misses On Revs

Pfizer Tops On EPS, Misses On Revs

Posted: 03 May 2011 07:35 AM PDT

Pfizer Inc. (NYSE:PFE) reported first quarter earnings of 60 cents per share, a couple of cents above the Zacks Consensus Estimate, and flat from the year-ago period. First quarter revenues declined 0.4% to $16.5 billion, just shy of the Zacks Consensus Estimate of $16.6 billion. First quarter 2011 results include the impact of the King acquisition from Jan 31, 2011.
Including one-time items, earnings increased 12% to 28 cents mainly due to lower costs, a lower tax rate and a lower share … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

MasterCard Excels Once Again

Posted: 03 May 2011 07:35 AM PDT

MasterCard Inc.'s (NYSE:MA) first quarter operating earnings per share of $4.29 came in significantly ahead of the Zacks Consensus Estimate of $4.10 and $3.46 in the year-ago quarter. Net income for the reported quarter was $562 million, up 23.6% from $455 million in the prior-year quarter.
Results for the reported quarter improved over the prior-year quarter primarily due to better pricing, an increased number of processed transactions, strong gross dollar value (GDV) growth and a lower tax … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Why Should Investors Pay Attention To Bohai?

Posted: 03 May 2011 07:35 AM PDT

Grant Zeng, CFA
Why should investors pay attention to Bohai?

Bohai Pharmaceuticals Group adds 200 hospitals and 10 new drug store chains to its national distribution network for Lung Nourishing Syrup

On April 25, 2011, Bohai Pharmaceuticals Group (BOPH), announced that during the fiscal third quarter of 2011 ending March 31, 2011, the company added 200 level 2 hospitals and10 new drug store chains to its national network of retail locations in China currently selling the company’s Lung … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Archer Daniels Beats By A Penny

Posted: 03 May 2011 07:35 AM PDT

Archer Daniels Midland Company (NYSE:ADM) reported robust third-quarter 2011 results. Net income for the reported quarter was $578.0 million or 86 cents per share compared with $421.0 million or 65 cents per share in the year-ago quarter. Quarterly earnings also outpaced the Zacks Consensus Estimate by a penny.
The robust quarterly result was primarily attributable to increased segmental profit, partially offset by negative discrepancy from changes in Last-In-First-Out (LIFO) inventory valuations … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

PBIO And KeraFAST Sign Worldwide E-Commerce Distribution Deal

Posted: 03 May 2011 07:35 AM PDT

Grant Zeng, CFA
PBIO and KeraFAST Sign Worldwide E-Commerce Distribution Deal

On May 3, 2011, Pressure BioSciences, Inc. (PBIO) and KeraFAST LLC announced that they have entered into a non-exclusive, worldwide distribution agreement covering several of PBIO's new sample preparation products. These products include the recently released The SHREDDER SG3 Extraction System; the novel MicroTube, MicroCap, and PCT Shredder sample processing tubes; and proprietary kits for the preparation of … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

DNDN Cuts Loss On Provenge Sales

Posted: 03 May 2011 07:35 AM PDT

Dendreon Corporation's (NASDAQ:DNDN) first quarter 2011 loss (including stock-based compensation expense but excluding other special items) of 69 cents per share was in line with the Zacks Consensus Estimate. Loss was, however, much narrower than the year-ago loss of 94 cents per share, as the company has started generating revenues from its lead advanced prostate cancer vaccine Provenge, which was absent in the prior-year quarter.
Quarterly Details
Total revenue in the reported quarter climbed to … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Teva Snaps Up Cephalon

Posted: 03 May 2011 07:35 AM PDT

Yet another acquisition deal was announced in the pharma sector with generic player, Teva Pharmaceutical Industries Ltd. (NASDAQ:TEVA) entering into a definitive agreement with Cephalon, Inc. (NASDAQ:CEPH). Teva intends to acquire Cephalon for $81.50 per share in cash or $6.8 billion.
Teva Tops Valeant Bid
Cephalon has been in the news over the past few weeks with Valeant Pharmaceuticals (NYSE:VRX) expressing an interest in acquiring the company. Valeant had initially approached Cephalon in late March with … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Brother, Can You Spare A Dime?

Posted: 03 May 2011 07:17 AM PDT

As we inch our way along the economic landscape we witness more comparisons to the economic malaise of The Great Depression. I take no pleasure in writing on these topics and of these comparisons but they are a simple and regrettably a largely unspoken reality.
You do not need to read Sense on Cents to be aware that our wages and incomes are not keeping pace with the cost of living. You do need to read economic blogs, though, because the reality of our income situation and the impact on real … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex Trading: USDJPY Moves Higher On Better Data. Resistance Tested

Posted: 03 May 2011 07:07 AM PDT

The USDJPY has reacted higher off the better US Factory Orders data and looks to test the 100 bar MA on the 5 minute chart at the 80.90 level. The level is the 38.2% of the move down today and near the 100 bar MA on the 5 minute chart. A move above should look to test 81.00 where the 200 bar MA (green line) is … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

U.S. Factory Orders Jump More-than-expected In March

Posted: 03 May 2011 07:05 AM PDT

Forex Pros – U.S. factory orders rose significantly more-than-expected in March, official data showed on Tuesday.<br /><br />In a report, the U.S. Census Bureau said factory orders rose by a seasonally adjusted 3% in March, after rising by 0.7% in February, whose figure was upwardly revised from a decline of -0.1%. <br /><br />Economists had expected U.S. factory orders to rise by 1.9% in March.<br /><br />Following the release of the data, the U.S. dollar … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Omnicare Beats, Maintains Guidance

Posted: 03 May 2011 07:00 AM PDT

Omnicare Inc. (NYSE:OCR), which sells drugs to long-term care facilities and nursing homes, reported first-quarter fiscal 2011 adjusted (excluding one-time expenses) earnings per share of 52 cents, beating the Zacks Consensus Estimate of 50 cents, and lower than the year-ago earnings of 59 cents.
Reported net income from continuing operations, for the quarter, was $50.5 million (or 44 cents per share) compared with $58.1 million (or 49 cents per share) in the year-ago quarter. The results include … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex – USD/CAD Advances To 2-day High Amid Risk Aversion

Posted: 03 May 2011 06:42 AM PDT

Forex Pros – The U.S. dollar climbed to a two-day high against its Canadian counterpart on Tuesday, as security fears following Sunday&rsquo;s killing of Al Qaeda leader Osama bin Laden sapped demand for riskier assets.<br /><br />USD/CAD hit 0.9542 during early U.S. trade, the pair&rsquo;s highest since last Thursday; the pair subsequently consolidated at 0.9522, gaining 0.16%.<br /><br />The pair was likely to find support at 0.9444, Monday&rsquo;s low … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

URS Led Team Wins US DOE Contract

Posted: 03 May 2011 06:35 AM PDT

A team consisting of URS Corporation's (NYSE:URS) Energy & Construction group and CH2M HILL Constructors Inc. has entered into a contract with the U.S. Department of Energy (DOE) to supply remediation and cleanup services to the East Tennessee Technology Park (ETTP) in Oak Ridge, Tennessee. The contractor team is being led by URS Corporation and will provide decontamination and decommissioning services to ETTP.
The ETTP site includes many industrial facilities, which were used at the time of … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Stock Market News Briefs: Alcoa, Arch Coal, Cephalon, Community Health Systems, DISH Network, Goldman Sachs Group, Hologic, International Coal Group, Principal Financial Group Inc, EchoStar, Sony, Teva Pharmaceutical Industries Limited, Tenet Healthcare, TiVo, Volcom

Posted: 03 May 2011 06:35 AM PDT

    Arch Coal, Inc. (NYSE:ACI) and International Coal Group, Inc. (NYSE:ICO) announced that they have signed a definitive agreement under which Arch will acquire all of the outstanding shares of ICG for $14.60 per share in an all-cash transaction valued at $3.4 billion

    Teva Pharmaceutical (NASDAQ:TEVA) and Cephalon (NASDAQ:CEPH) said that their respective boards of directors unanimously approved a definitive agreement under which Teva will acquire Cephalon and all of its … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

General Cable Corp. Beats Estimate

Posted: 03 May 2011 06:35 AM PDT

General Cable Corporation (NYSE:BGC) reported first-quarter 2011 earnings per share of 70 cents, beating the Zacks Consensus Estimate of 52 cents. The earnings per share were above the prior-year loss per share of 15 cents.
Excluding the impact of $0.09 per share of non-cash convertible debt interest expense, adjusted non-GAAP earnings per share was 79 cents in the quarter.
Total Revenue
Total revenue, on a metal-adjusted basis, in the quarter increased by 14% year over year to $1,447.6 million. … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex Trading: GBPUSD Consolidates At Lower Levels After Sharp Move Lower

Posted: 03 May 2011 06:32 AM PDT

Yesterday, the GBPUSD gave clues for a potential move (see GBPUSD non-trending in a 10 pip range by CLICKING HERE). The non-trending nature of the market was a prelude to a trend like move.
The PMI Manufacturing data helped by coming in weaker today coming in at 54.6 vs 57 expectation and the market focus was exclusively on the GBP.  As NY day gets going, the dollar is getting more attention and the GBPUSD has rebounded a bit. The pair has a nice floor at the 1.6467 level but it … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

EUR/GBP Rallies Above 6-Month High And Eyes 2010 High

Posted: 03 May 2011 06:30 AM PDT

EUR/GBP Attempting Bullish Breakout Towards 2010 High at 0.9150 (4/26)
EUR/GBP

Short-term to Medium Term- The EUR/GBP's rally from 0.8740 pushed above the April high near 0.8925. Then the market pushed above 0.8940, the Oct.25 high and resistance pivot.
- The RSI in the 4H chart is tagging 70 and price is extending towards 0.90.
- In the short-term, there are extended-retracement-targets right above, with 150% near 0.9010. A throwback can be expected from this area.
- A throwback that is … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Swiss Franc: Under Pressure

Posted: 03 May 2011 06:19 AM PDT

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

Australian Dollar: Under Pressure

Posted: 03 May 2011 06:19 AM PDT

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

Canadian Dollar: Key ST Resistance At 99

Posted: 03 May 2011 06:19 AM PDT

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

Japanese Yen: Under Pressure

Posted: 03 May 2011 06:19 AM PDT

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

British Pound: Under Pressure

Posted: 03 May 2011 06:19 AM PDT

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

Euro: Capped By A Negative Trend Line

Posted: 03 May 2011 06:19 AM PDT

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

Forex Trading: EURUSD Back Toward Unchanged On The Day.

Posted: 03 May 2011 06:11 AM PDT

The 1.4829 level was the closing level from yesterday and the EURUSD is looking to test that level.  The midpoint of the move down from the NY high yesterday is also at the level at the 1.4828.  The market should find some sellers from profit taking. However, be aware that before the US Unemployment report, the ECB has its interest rate meeting on Thursday and although the central bank is not expected to change rates, the comments from Trichet could continue to be hawkish. This … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

This Week In USD: Manufacturing, Services, And April Non-Farm Payroll Report

Posted: 03 May 2011 06:10 AM PDT

Recap of Last Week: Bernanke Gives Carry Traders Green Light Sell Dollars
The historic FOMC decision and press conference came and went last week, and for the most part we are left with the same message from the Fed we had in March. Fed Chairman's performance came through "dovish" as he reiterated the need to keep rates low. The confirmation of continued loose U.S. monetary policy is what the market needed to continue its "risk on" trading mode. With … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

SIRIUS XM Meets Zacks Estimates

Posted: 03 May 2011 06:09 AM PDT

SIRIUS XM Radio Inc. (NASDAQ:SIRI) declared its financial results for the first quarter of 2011 that barely met the Zacks Consensus Estimates. Quarterly GAAP net income was $78.1 million or 1 cent per share compared with a net income of $41.6 million or 1 cent per share in the prior-year quarter. First quarter EPS of 1 cent was exactly in line with the Zacks Consensus Estimate.
Quarterly total revenue of $723.8 million was an improvement of 9% year over year, and slightly below the Zacks Consensus … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Chrysler: 1st Profit In 5 Yrs

Posted: 03 May 2011 06:09 AM PDT

Chrysler Group LLC, 25% owned by Italy's Fiat SpA (FIATY), posted a profit of $116 million in the first quarter of 2011 compared with a net loss of $197 million in the year-ago quarter. Operating profit, excluding taxes, interest and pension-related costs, more than tripled to $477 million from $143 million a year earlier. The higher profit was attributable to higher sales and better pricing and mix.
This is the first quarterly profit reported by the company since 2006. The company has … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Principal Beats Top Line Estimate

Posted: 03 May 2011 06:09 AM PDT

Principal Financial's (NYSE:PFG) first quarter operating earnings of 71 cents per share modestly surpassed the Zacks Consensus Estimate by a penny. Results were ahead of 69 cents earned in the prior-year quarter. Operating earnings were $231.8 million, up by 5% from $203.9 million in the corresponding quarter last year.
Principal Financial delivered a strong quarter on the heels of double-digit earnings growth from Principal Global Investors, Principal Funds, Individual Annuities and U.S. … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Earnings Scorecard: Ecolab

Posted: 03 May 2011 06:09 AM PDT

Ecolab's (NYSE:ECL) first-quarter fiscal 2011 results have met with strong bullish reactions from the analysts. The Minnesota-based leading cleaning and sanitation products maker posted adjusted earnings of 45 cents for the quarter which beat the Zacks Consensus Estimate by a penny and exceeded the year-ago earnings of 41 cents.
First Quarter Highlights
Profit (attributable to Ecolab) for the quarter fell 2% year over year to $93.6 million as top line growth was more than offset by charges … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

ArcelorMittal To Acquire KSS

Posted: 03 May 2011 06:09 AM PDT

Steel giant, ArcelorMittal (NYSE:MT) is close to buying KazStroyServices Ltd (NYSE:KSS), a Kazakhastan-based engineering, procurement and construction (EPC) company.
The company has presence in Kazakhstan, India, Turkmenistan and West Asia and primarily builds oil and gas pipelines and refineries. ArcelorMittal is buying the company in its personal capacity.
KSS owns 52.47% stake in India's Petron Engineering Construction Limited (PECL), listed on the Bombay Stock Exchange. It has a market … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Waiting For The Jobs Reports

Posted: 03 May 2011 06:09 AM PDT

With about two-thirds of the reports in, we can safely say that first quarter earnings season has been better than expected, belying pre-season concerns about margins and the impact of Japan. This earnings strength pushed stocks to new highs in recent days. But stocks will need more than just earnings strength to make new highs from here onwards.

The most important catalyst for stocks at this stage will be reassurance on the economic recovery front. And nothing will prove more reassuring than … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex Trading: USDJPY Tests Lows Post Central Bank Intervention

Posted: 03 May 2011 06:06 AM PDT

The USDJPY his testing the low from the post central bank intervention. The level comes in at 80.69 and the price has been knocking on the door. Although it would seem that if there was interest to buy USDJPY at the level a month or so ago, that enthusiasm may not be there now.  The reason is the intervention forced the market up to a high of 85.51 in the interim.  That surge should have given Japanese exporters the ability to hedge positions.  So although the 80.69 level is a … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Weekly Address: Taxpayer Subsidies For Farms Are Neither Right, Nor Smart, And They Should End

Posted: 03 May 2011 06:05 AM PDT

Here’s a weekly presidential address I’d like to see, based on President Obama’s address last week on “Taxpayer Subsidies for Oil Companies Farms are Neither Right, nor Smart, and They Should End.”

WASHINGTON – “As oil and gas companies American farms make tens of billions in profits and the government scours the budget for savings, President Obama called on Congress to stop handing them $4 billion $12 billion annually in taxpayer subsidies.

After the worst recession since the Great … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex – EUR/JPY Hits 5-day Low As Risk Appetite Sours

Posted: 03 May 2011 06:00 AM PDT

Forex Pros – The euro tumbled to a five-day low against the broadly stronger yen on Tuesday, as investors sought out safe haven assets as the world remained on high alert for potential reprisals from terrorist groups linked to al Qaeda.<br /><br />EUR/JPY hit 119.21 during European afternoon trade, the pair&rsquo;s lowest since April 26; the pair subsequently consolidated at 119.48, tumbling 0.78%.<br /><br />The pair was likely to find support at 118.48, the low … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Gold And Silver Form Double Tops; Will They Confirm?

Posted: 03 May 2011 05:42 AM PDT

Monitoring Gold and Silver…(5/2)
Gold (XAU/USD)

Short Term to Medium Term
- Gold rallied to close the opening gap only to be rejected after making another fresh high near 1575. A sharp decline ensued, and the market formed a double top when the market broke below the 1550 level.
- One pullback attempt so far has failed to push back above this level successfully.
- Another rally of c=a wave equality targets the 1560 area. If this develops the market could still be in a sideways correction. A … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

U.S. Stock Futures Dip As Pfizer Slumps; Dow Futures Shed 0.3%

Posted: 03 May 2011 05:34 AM PDT

Forex Pros – U.S. stock futures pointed to a lower open on Tuesday, as investors digested a slew of mixed corporate earnings results and as shares in pharmaceutical giant Pfizer slumped ahead of the open.&nbsp;&nbsp;&nbsp; <br /><br />Dow Jones Industrial Average futures pointed a drop of 0.3%, the S&amp;P 500 futures fell 0.38%, while Nasdaq 100 futures indicated a decline of 0.28%. <br /><br />Shares in the world&rsquo;s largest drugmaker Pfizer … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

AK Steel Adds Surcharge

Posted: 03 May 2011 05:30 AM PDT

AK Steel Holding Corporation (NYSE:AKS) added a surcharge of $435 per ton to invoices for electrical steel products shipped in June 2011. 
The surcharge is calculated based on reported prices for raw materials and energy used to manufacture products coupled with the April 2011 purchase cost used to determine the June 2011 surcharges.
Recently, AK Steel also posted its first-quarter results delivering an EPS of 8 cents compared with 2 cents during the year-ago quarter and striding ahead of the … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

GBP/JPY Breaks Below Channel; Wave Equality Targets 130.00

Posted: 03 May 2011 05:09 AM PDT

GBP/JPY's Short-term Elliott Wave Count (4/29)
GBP/JPY

- The GBP/JPY broke below a rising channel, as soon as it established it. This rally from 133.00 to 137.00 was in a 3-wave rally.
- The structure of the market in the short to medium term is corrective. The momentum of the market is ranging with the RSI in the 4H chart swinging above 70 and below 30.
- A break below the 132.50 support can open up a decline to 130.00 using a C=A wave equality projection.
- That invalidates a bullish … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Pound, Aussie Slide As Fundamentals Mix With General Risk Aversion

Posted: 03 May 2011 05:03 AM PDT

General Risk Aversion Today on Fear of Retailiation
Following the killing of Osama Bin Laden, global financial markets were a bit on edge, as Al Quada and its affiliates vowed some kind of retaliation for their leaders death. That unease worried investors enough to cause a move into safe haven currencies like the USD, JPY and CHF, which all saw some pretty good bids overnight.
Equities were generally lower, especially in Europe where some countries' banks were closed for holidays yesterday. … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

EUR/JPY Breaks Below Rising Trendline With Imminent Test Of 118.50

Posted: 03 May 2011 04:50 AM PDT

EUR/JPY Breaks Above Declining Wedge (5/2)
EUR/JPY

- The EUR/JPY was seen pushing above a wedge pattern. The subsequent "throwback" did not confirm the breakout and price action did not make a new high above 121.10 as the anticipated trigger for a retest of the 121.82 high.
- The result was continuation of the decline since that 121.82 high and the market is now hovering above 119.00 area.
- The RSI in the 4H chart is breaking below 40, a sign that the market is NOT bullish. The swing … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex – Dollar Broadly Higher, Supported By Safe Haven Demand

Posted: 03 May 2011 04:43 AM PDT

Forex Pros – The U.S. dollar remained broadly higher against its major counterparts on Tuesday, supported by increased safe haven demand amid fears over reprisals from Islamic militants following Sunday&rsquo;s killing of Osama bin Laden.<br /><br />During European afternoon trade, the greenback was higher against the euro, with EUR/USD shedding 0.28% to hit 1.4787.<br /><br />Earlier Tuesday, official data showed that European producer price inflation rose in line … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

NZD/USD Daily Fundamental Analysis For May 04, 2011

Posted: 03 May 2011 04:21 AM PDT

By ForexMansion.com
The New Zealand dollar extended yesterday's decline against greenback as the New Zealand economy said private-sector wages grew at a slower pace than some economists predicted. Demand for kiwi was damped as commodities declined including crude oil and gold.
The New Zealand jobless rate probably fell to 6.7% in the first quarter from 6.8% in the final three months of 2010, where the economy starts to recover from the earthquakes yet still remains with a moderate and slow … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex News – Cautious Rising

Posted: 03 May 2011 04:16 AM PDT

By ForexMansion.com
 
The dollar inched higher as markets started avoiding risk as Osama Bin Laden's death ignited fears of a possible rise in terrorist attacks. Security at the US embassies around the world was intensified, to be a main factor leading to an increase on safe heaven.
The yen rose against the dollar to the highest in more than a month although trading was light since the Japanese markets are closed for a national holiday. Meanwhile, some companies reported weaker than … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

AUD/USD Daily Fundamental Analysis For May 04, 2011

Posted: 03 May 2011 04:14 AM PDT

By ForexMansion.com
The Australian dollar has weakened versus the US dollar and other major counterparts after the Reserve Bank of Australia kept rates unchanged at 4.75% for the fifth straight month, damping demand for Aussie.
Moreover, the Australian currency continued its downside movement for a fourth day against the Yen as the recent surge in the currency may "exert additional restraint" on industries related to trade.
Australian monetary policy makers said that the global economy is … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex – GBP/USD Tumbles To Fresh 4-day Low After U.K. PMI

Posted: 03 May 2011 04:06 AM PDT

Forex Pros – The pound extended losses against the U.S. dollar on Tuesday, after a report showing that manufacturing activity in the U.K. declined to a seven-month low in April dampened expectations for near-term rate hikes by the Bank of England.<br /><br />GBP/USD hit 1.6468 during European early afternoon trade, the pair&rsquo;s lowest since April 27; the pair subsequently consolidated at 1.6484, tumbling 1.02%.<br /><br />Cable was likely to find support at … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex – Dollar Higher Against Euro As Risk Sentiment Weakens

Posted: 03 May 2011 03:51 AM PDT

Forex Pros – The U.S. dollar regained some ground against the euro on Tuesday, climbing to a four-day high as risk sentiment weakened amid security fears after this weeks killing of Al Qaeda leader Osama bin Laden.<br /><br />EUR/USD hit 1.4755 during European late morning trade, the pair&rsquo;s lowest since April 27; the pair subsequently consolidated at 1.4768, shedding 0.41%.<br /><br />The pair was likely to find support at 1.4631, the low of April 27and … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards
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