DailyMarkets.com - TAM’s 1Q Results Exceed Consensus

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• TAM’s 1Q Results Exceed Consensus
• Credit Card Defaults Trend Down
• Australian Dollar: The Downside Prevails
• Canadian Dollar: Key ST Resistance At 98
• Euro Woes Continue
• US Fundamental Data Points To Weaker April – Housing Starts Slide, Industrial Output Flat
• Forex – EUR/USD Trims Gains As Greece Debt Review Extended
• Marriott To Boost Shareholder Value
• Forex Trading: EURJPY Bounces Off The 100 Hour MA
• USD/CAD Forms Inverted Head And Shoulders And Kills Bearish Momentum
• CytRx Completes Sale Of Molecular Chaperone Assets
• Earning Scorecard: American Tower Corp.
• Crude Oil Futures Extend Losses After Downbeat U.S. Data
• If It Moves, Tax It. If It Keeps Moving, Regulate It.
• Gold And Silver Continuing Major Corrections
• Forex – USD/CAD Hits 7-week High As Weak U.S. Data Saps Risk
• Honeywell Settles Lawsuit
• Strength In Retail, HP Reports Early
• Stock Market News Briefs: AMR, Citigroup, FirstEnergy, Hallmark Financial Services, IntercontinentalExchange, JetBlue Airways, J.C. Penney Company Holding Company, J P Morgan Chase & Co, Lowe’s Companies, NASDAQ OMX Group, NYSE Euronext, Stryker, Orthovita
• E*TRADE’s April DARTs Decline
• Tax Rates (%) X Tax Base = Tax Revenue ($)
• Forex Trading: USDJPY Moves Lower After Weak Industrial Production
• Swiss Franc: The Downside Prevails
• Japanese Yen: Under Pressure
• British Pound: The Downside Prevails
• Euro: Caution
• U.S. Industrial Production Unexpectedly Flat In April
• Morning Market Brief
• AUD/USD’s Double Bottom Failure Suggests Further Downside Correction
• Union Pacific Remains Neural
• Moody’s Might Ups Coventry Ratings
• Forex – EUR/JPY Pulls Away From 4-day High After Juncker Remarks
• Forex Trading: AUDUSD Moves Lower In Early NY Trade
• Canadian Foreign Securities Purchases Rise More-than-expected
• Some Of Us Aren’t Grossed Out By Profits
• U.S. Building Permits Decline Unexpectedly In April
• DuPont Completes Danisco Offer
• U.S. Stock Futures Point Lower As HP Tumbles; Dow Slips 0.1%
• Earnings Preview: Staples
• NZD/USD Forming A Head And Shoulder And Challenges Bullish Momentum
• JPN Down On M&A Speculation, GBP Jumps On Knee-Jerk Reaction To CPI, EUR Sideways
• Forex – Dollar Mixed Vs. Rivals As EZ Debt Concerns Continue
• GBP/JPY Strength Contained Below 133.00 Pivot – For Now
• Forex – GBP/USD Pares Gains After Rising On Jump In U.K. Inflation
• Forex – EUR/USD Edges Higher But Remains Under Pressure
• Soybean Futures Advance On Disappointing U.S. Crop Progress
• Forex News – Mixed Sentiment In Europe

TAM’s 1Q Results Exceed Consensus Posted: 17 May 2011 07:32 AM PDT On May 16, TAM S.A. (NYSE:TAM) reported its financial results for the first quarter of fiscal year 2011. TAM reported a net income of R$128.8 million (US$77.6 million) in the quarter, up from a loss of R$70.9 million (US$39.2 million) in the year-ago quarter and down 14.4% sequentially. Earnings per share entered positive territory and was R$0.80 per share (48 cents per ADR) compared with a loss of R$0.50 per share reported in the year-ago quarter. Earnings were above the Zacks Consensus Estimate … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Credit Card Defaults Trend Down Posted: 17 May 2011 07:32 AM PDT Regulatory filings by major credit card companies for the month of April have shown a declining trend in credit card defaults. On Monday, five of the nation’s top six credit card companies reported a decline in card defaults. While JPMorgan Chase & Co. (NYSE:JPM), American Express Company (NYSE:AXP), Discover Financial Services (NYSE:DFS), Citigroup Inc. (NYSE:C)  and Capital One Financial Corp. (NYSE:COF) recorded further drop in their respective credit card defaults, Bank of America Corporation … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Australian Dollar: The Downside Prevails Posted: 17 May 2011 07:19 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 98 Posted: 17 May 2011 07:19 AM PDT Update on supports and resistances. … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Euro Woes Continue Posted: 17 May 2011 07:19 AM PDT Today’s Idea The Euro currency could continue to suffer setbacks due to mounting debt concerns facing multiple nations. The sharp philosophical turn in tackling Greece’s debt, along with the IMF potentially being paralyzed due to its head facing criminal proceedings, may shake investor faith rather than restore it. The chart shows prices correcting sharply, with the currency falling over 7 handles, and a breakdown below 1.4000 could potentially shake longs out of the market. Some traders may … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

US Fundamental Data Points To Weaker April – Housing Starts Slide, Industrial Output Flat Posted: 17 May 2011 07:14 AM PDT Today's US trading session will have an overhang of weak economic data as reports on the construction sectors and on manufacturing pointed to a weak April. Housing starts fell 10%, though from an upwardly revised level in March, a signal that residential investment will continue to be a drag on GDP. Overall industrial production was flat in April, but manufacturing part fell for the first time in 10 months, as disruptions of the supply of parts due to Japan's natural disaster, caused … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex – EUR/USD Trims Gains As Greece Debt Review Extended Posted: 17 May 2011 07:09 AM PDT Forex Pros – The euro trimmed gains against the U.S. dollar on Tuesday, easing off the daily high after the deputy German finance minister said officials would need one more week to examine details on recalibrating Greece’s bailout.<br /><br />EUR/USD pulled away from 1.4224, the daily high to hit 1.4158 during early U.S. trading hours, up just 0.02% on the day.<br /><br />The pair was likely to find support at 1.4047, Monday&rsquo;s low and a six-week low and … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Marriott To Boost Shareholder Value Posted: 17 May 2011 07:07 AM PDT Bethesda, Maryland-based Marriott International, Inc (NYSE:MAR) recently announced a hike in its quarterly dividend payout by 1.25 cents to 10 cents per share, reflecting an increase of 14% from the prior dividend. The increased dividend will be paid on June 24, 2011, to stockholders of record as of May 20, 2011. The hike in dividend is expected to enhance the annual dividend yield to 1.1% as of May 16, 2011. Marriott also intends to bolster shareholder's value through a share buyback program. … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex Trading: EURJPY Bounces Off The 100 Hour MA Posted: 17 May 2011 07:07 AM PDT The EURJPY is stuck between support against the 100 hour MA (blue line in the chart above) and the 38.2% retracement of the move down from the May 3rd high to the low reached yesterday, at the 116.23 level. In between is the 200 hour MA at the 115.62 level (green line). With the price in between the "goal posts" as defined by the 100 hour and 200 hour MA, the market is saying it does not know the direction for the pair.  When this happens, traders tend to use the MA levels to lean … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

USD/CAD Forms Inverted Head And Shoulders And Kills Bearish Momentum Posted: 17 May 2011 06:59 AM PDT USD/CAD Targets 0.9775 on the back of Falling Oil Futures (5/12) USD/CAD Short-Term to Medium Term- Indeed the market is making its way to 0.09775 and probably even higher. - The completed wave equality swing opens up a couple of scenarios in the medium term. - The rally to 0.9775 completes an ABC correction. and therefore, we can expect some resistance here. The daily chart also shows that the 0.9775 level is near 61.8% retracement. There is also a bearish divergence shown in the 4H … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

CytRx Completes Sale Of Molecular Chaperone Assets Posted: 17 May 2011 06:57 AM PDT Grant Zeng, CFA CytRx Completes Sale of Molecular Chaperone Assets On May 17, 2011, CytRx Corporation (CYTR)  announced that it has sold the worldwide rights to its molecular chaperone assets to privately-held, Copenhagen, Denmark-based Orphazyme ApS. If all of the development and commercialization milestones in the transaction agreement are met, in addition to an up-front payment, CytRx could receive total payments of up to $120 million, in addition to royalties on sales of products … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Earning Scorecard: American Tower Corp. Posted: 17 May 2011 06:57 AM PDT American Tower Corp. (NYSE:AMT) reported mixed first quarter 2011 financial results, where revenue exceeded the Zacks Consensus Estimate but earnings per share (EPS) fell short of the Zacks Consensus Estimate. The top-line growth was mainly attributable to the rise in demand for broadband data services coupled with the company's global expansion strategy. First Quarter Highlights Quarterly total revenue was $562.7 million, up 23.8% year over year and handily beat the Zacks Consensus Estimate of … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Crude Oil Futures Extend Losses After Downbeat U.S. Data Posted: 17 May 2011 06:56 AM PDT Forex Pros – Crude oil futures extended losses on Tuesday, dropping to a fresh three-day low as mounting concerns over a slowdown in U.S. demand weighed on prices, which were also pressured by a stronger U.S. dollar. <br /><br />On the New York Mercantile Exchange, light, sweet crude futures for delivery in June traded at USD96.22 a barrel during U.S. morning trade, dropping 0.82%.&nbsp;&nbsp;&nbsp; <br /><br />It earlier fell by as much as 1.1% to USD95.92 … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

If It Moves, Tax It. If It Keeps Moving, Regulate It. Posted: 17 May 2011 06:50 AM PDT D.C.-To-NYC Buses May Get More Expensive With New Regulations   “In D.C.’s Chinatown neighborhood, buses leave to or arrive from New York City at almost any hour. These buses have grown in popularity, thanks in large part to their low prices.  But starting this summer, D.C. can charge companies using curbside space a public space rental fee of $80,000 a year or more.  Pete Pantuso, head of the American Bus Association, says that  this fee will be passed along to the riders … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Gold And Silver Continuing Major Corrections Posted: 17 May 2011 06:42 AM PDT Gold Completes a 5-Wave Triangle (5/16) Silver Maintains Bearish Momentum ( 5/13) Gold (XAU/USD) Short-Term to Medium-Term- The previous count for the triangle had to be adjusted now that the market is showing us a break to the downside. - The 5-wave structure reflects a B wave in a projected ABC correction, where we are now starting that C wave. - A swing projection targets 1417, in a support cluster zone. - Even above that near 1445, there is an important support. If the markt breaks the … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex – USD/CAD Hits 7-week High As Weak U.S. Data Saps Risk Posted: 17 May 2011 06:33 AM PDT Forex Pros – The U.S. dollar rose to a fresh seven-week high against its Canadian counterpart on Tuesday, after a string of worse-than-expected U.S. data sapped investor&rsquo;s appetite for riskier assets.<br /><br />USD/CAD hit 0.9780 during early U.S. trade, the pair&rsquo;s highest since March 29; the pair subsequently consolidated at 0.9774, gaining 0.17%.<br /><br />The pair was likely to find support at 0.9682, Monday&rsquo;s low and resistance at … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Honeywell Settles Lawsuit Posted: 17 May 2011 06:32 AM PDT Honeywell International Inc.'s (NYSE:HON) Turbo Technologies business and BorgWarner Turbo Technologies has settled their patent dispute regarding cast titanium compressor wheels used in select commercial vehicle applications. As per the agreement, Honeywell will be paying $32.5 million for a paid-up license to BorgWarner’s asserted patents. Other conditions of the settlement were not disclosed. Though Honeywell was ready to fight its position in the District Court for the Western District of … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Strength In Retail, HP Reports Early Posted: 17 May 2011 06:32 AM PDT With the earnings season winding down and the economic calendar on the thin side, stocks have been getting concerned lately with the macro picture. Questions about economic growth in the U.S., debt issues in Europe and inflationary pressures in China have been drowning out a number of positives in the last few days. We do have a fair number of earnings reports this morning from a host of household names. We had results from Wal-Mart (NYSE:WMT), Hewlett-Packard (NYSE:HPQ) and Home Depot (NYSE:HD). … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Stock Market News Briefs: AMR, Citigroup, FirstEnergy, Hallmark Financial Services, IntercontinentalExchange, JetBlue Airways, J.C. Penney Company Holding Company, J P Morgan Chase & Co, Lowe’s Companies, NASDAQ OMX Group, NYSE Euronext, Stryker, Orthovita Posted: 17 May 2011 06:32 AM PDT     NYSE Euronext's (NYSE:NYX) shares declined 12.6% after NASDAQ OMX Group (NASDAQ:NDAQ) and IntercontinentalExchange (NYSE:ICE) cancelled their bid to acquire NYSE's parent organization     JPMorgan Chase & Co. (NYSE:JPM) upgraded AMR Corporation (NYSE:AMR) to "Overweight" from "Neutral" rating     JPMorgan Chase & Co. (NYSE:JPM) upgraded JetBlue Airways Corporation (NASDAQ:JBLU) to "Overweight' from "Neutral" rating     J. … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

E*TRADE’s April DARTs Decline Posted: 17 May 2011 06:32 AM PDT Online broker E*TRADE Financial Corporation (NASDAQ:ETFC) released its Monthly Activity Report for April 2011 on Monday, recording a sequential as well as year-over-year decline in average U.S. trades. For the month of April 2011, Daily Average Revenue Trades (DARTs) were 160,907, down 4% sequentially and 11% year over year. Broker performance is generally measured through DARTs. DARTs represent a number of trades from which brokers can expect commissions or fees. At the end of the month, total … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Tax Rates (%) X Tax Base = Tax Revenue ($) Posted: 17 May 2011 06:28 AM PDT An endless source of confusion seems to exists regarding the frequently used term “raising taxes” (e.g., do a Google search for “raising taxes on the rich” and you’ll find almost 3 million results), which usually refers to a proposal to raise tax rates in an attempt to raise tax revenues.  Not so fast.  It doesn’t always work that way, and frequently works in reverse – higher tax rates result in lower, not higher, tax revenue collected.  Here’s the relevant formula: TAX RATE (%) … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex Trading: USDJPY Moves Lower After Weak Industrial Production Posted: 17 May 2011 06:21 AM PDT The USDJPY moved sharply higher today on the back of BOJ Shirakawa's bearish comments on the economy. The weaker US housing data and now weaker than expected US Industrial Production has the pair back on the defensive with support against the 38.2% of the move up from the low being tested at the 81.35 level currently.  A move below the 200 bar MA (green line above) will hurt the bullish move higher today (81.25 area).  Resistance against the 100 bar MA (blue line) will now be eyed … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Swiss Franc: The Downside Prevails Posted: 17 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: 17 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: The Downside Prevails Posted: 17 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: Caution Posted: 17 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

U.S. Industrial Production Unexpectedly Flat In April Posted: 17 May 2011 06:19 AM PDT Forex Pros – Industrial production in the U.S. was unexpectedly flat in April, official data showed on Tuesday.<br /><br />In a report, the U.S. Federal Reserve said that industrial production was flat in April, after rising by 0.7% in March, whose figure was revised down from a gain of 0.8%.<br /><br />Analysts had expected industrial production to rise by 0.5% in April.<br /><br />The report showed that the capacity utilization rate rose … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Morning Market Brief Posted: 17 May 2011 06:15 AM PDT 05/17/11 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 Balance Transfer Credit Cards

AUD/USD’s Double Bottom Failure Suggests Further Downside Correction Posted: 17 May 2011 06:11 AM PDT AUD/USD Forms Short-term Double Bottom (5/16) AUD/USD - The AUD/USD failed to establish a double bottom yesterday. It did, but it failed to be a bottom. The 1H RSI reading also stayed below 60, so the market failed to break the bearish momentum even in the short-term. - Now the RSI is turning back below 40, and a break below 30 confirms bearish continuation in the short-term. The price action also needs to clear below the 1.0520 low. - The 4H chart shows that a swing projection targets the … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Union Pacific Remains Neural Posted: 17 May 2011 06:02 AM PDT We reaffirm our long-term Neutral recommendation on Union Pacific Corp. (NYSE:UNP). The company reported mixed financial results in the first quarter of 2011. Revenue easily beats the Zacks Consensus Estimate, while EPS fell below it. In the last quarter, Union Pacific improved year over year on several metrics including operating ratio, business growth, pricing gain, and cost control. An improving U.S. economy, significant surge in automotive and intermodal shipments, together with a sharp … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Moody’s Might Ups Coventry Ratings Posted: 17 May 2011 06:02 AM PDT Following the impressive first-quarter earnings results and improved 2011 earnings outlook of Coventry Health Care Inc. (NYSE:CVH), the rating agency Moody’s Investors Service has kept its debt ratings under review. According to Moody's, it will seek Coventry’s ability to sustain and grow its profit margins and membership for an upgradation of its rating. Currently, Coventry’s senior unsecured debt, senior unsecured credit facility and corporate family debt, which are currently rated “Ba1,” … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex – EUR/JPY Pulls Away From 4-day High After Juncker Remarks Posted: 17 May 2011 05:51 AM PDT Forex Pros – The euro trimmed gains against the yen on Tuesday, easing off a four-day high after a senior European finance official acknowledged that Greece may have to restructure its debts.<br /><br />EUR/JPY pulled back from 116.22, the pair&rsquo;s highest since May 11 to hit 115.43 during European afternoon trade, still up 0.95% on the day.<br /><br />The pair was likely to find support at 113.39, Monday&rsquo;s low and a two-month low and resistance at … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex Trading: AUDUSD Moves Lower In Early NY Trade Posted: 17 May 2011 05:48 AM PDT The AUDUSD is moving back lower in early NY trade. The price has been consolidating in a narrow range for the day with 1.0616 being the high and 1.0532 being the low. It is an inside day when compared to yesterday's high/low range (see chart below). The key level to eye on the downside today remains the 1.0511 level which is the 38.2% of the move up from the March 2011 low to the high reached on May 2nd. The low yesterday reached 1.0512 where willing low risk buyers entered and pushed the … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Canadian Foreign Securities Purchases Rise More-than-expected Posted: 17 May 2011 05:47 AM PDT Forex Pros – ign investors&rsquo; acquisitions of Canadian securities rose more-than-expected in March, official data showed on Tuesday.<br /><br />In a report, Statistics Canada said that foreign investment rose to a seasonally adjusted CAD6.34 billion in March, after falling to CAD2.47 billion in February, whose figure was revised down from CAD2.5 billion.<br /><br />Analysts had expected foreign investment to increase to CAD4.37 billion in November.<br … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Some Of Us Aren’t Grossed Out By Profits Posted: 17 May 2011 05:38 AM PDT From David Harsanyi writing in NRO: “Some of us, believe it or not, aren't completely grossed out by the notion of profit — even a lot of profit. Strong earnings are good news not only for those dastardly Oil Barons, but for the millions of people who depend on the industry for their employment, as well as the vast number of Americans who rely on investments in oil to bolster their pension funds, retirement funds, college funds, etc. An industry as useful, wide-ranging, and essential to … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

U.S. Building Permits Decline Unexpectedly In April Posted: 17 May 2011 05:37 AM PDT Forex Pros – The number of building permits issued in the U.S. fell unexpectedly in April, hovering near recession lows, official data showed on Tuesday.<br /><br />In a report, the U.S. Census Bureau said the number of building permits issued in April fell by 4% to a seasonally adjusted 0.55 million, down from 0.57 million in March, whose figure was revised down from 0.59 million.&nbsp; <br /><br />Analysts had expected building permits to rise 0.9% to 0.59 … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

DuPont Completes Danisco Offer Posted: 17 May 2011 05:32 AM PDT EI DuPont de Nemours & Co. (NYSE:DD) successfully completed its tender offer for all outstanding shares of Danisco, which attained approval for its $6.4 billion offer from shareholders holding 92.2% of the Danish food-ingredients company. The shares were tendered through DuPont's wholly owned subsidiary DuPont Denmark for 700 Danish krones, or $132.60 each, in a deal that expired on May 13. All conditions for completing the offer have now been fulfilled. Danisco makes dietary supplements … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

U.S. Stock Futures Point Lower As HP Tumbles; Dow Slips 0.1% Posted: 17 May 2011 05:28 AM PDT Forex Pros – U.S. stock futures pointed to a modestly lower open on Tuesday, amid ongoing concerns over the euro zone&rsquo;s debt crisis and as shares in technology bellwether Hewlett-Packard tumbled ahead of the open.<br /><br />Dow Jones Industrial Average futures pointed a modest decline of 0.08%, the S&amp;P 500 futures dipped 0.05%, while Nasdaq 100 futures edged 0.12% lower.&nbsp;&nbsp; <br /><br />The world&rsquo;s largest computer maker … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Earnings Preview: Staples Posted: 17 May 2011 05:22 AM PDT Staples Inc. (NASDAQ:SPLS), a leading retailer of office products and services, is scheduled to report its first-quarter 2011 financial results on May 18, 2011. The current Zacks Consensus Estimate for the quarter is 32 cents a share. For the quarter under review, revenue is $6,225 million, according to the Zacks Consensus Estimate. Fourth-Quarter 2010, a Synopsis Staples posted lower-than-expected fourth-quarter 2010 results. The quarterly earnings of 39 cents per share missed the Zacks Consensus … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

NZD/USD Forming A Head And Shoulder And Challenges Bullish Momentum Posted: 17 May 2011 05:13 AM PDT NZD/USD Short-Term to Medium-Term- The NZD/USD is seen in the daily chart forming a head and shoulder with the neckline roughly at 0.78. - Note the RSI reading testing 40, challenging the bullish momentum established with the Mar-April surge. - The market is bullish, so with a break below 0.78, make sure a pullback doesn't just shoot back into the head and shoulder formation. - The break has a conservative target of 0.7620, 50% retracement and near 200SMA. - A deeper correction, using a … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

JPN Down On M&A Speculation, GBP Jumps On Knee-Jerk Reaction To CPI, EUR Sideways Posted: 17 May 2011 05:02 AM PDT Yen Weakness Set Off by M&A Speculation The Yen was generally weaker in today's trading, one of the dominant themes we had overnight. There was talk of merger and acquisition flows as a result of Japan's Takeda Pharmaceutical Co. being close to buying Swiss rival Nycomed for up to $14 billion, and that Toshiba Corp was in final talk to buy Landis+Gyr, a Swiss maker of advaced power meters for roughl $2 billion. These deals would mean that Takeda and Toshiba would have to buy large … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex – Dollar Mixed Vs. Rivals As EZ Debt Concerns Continue Posted: 17 May 2011 05:00 AM PDT Forex Pros – The U.S. dollar was mixed against its major counterparts on Tuesday, as the yen weakened broadly amid speculation that two major Japanese firms could be set to buy companies overseas.<br /><br />During European afternoon trade, the greenback was slightly lower against the euro, with EUR/USD easing up 0.07% to hit 1.4165.<br /><br />Earlier in the day, the head of the euro zone&rsquo;s finance ministers, Jean-Claude Juncker, said there was a need to … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

GBP/JPY Strength Contained Below 133.00 Pivot – For Now Posted: 17 May 2011 04:50 AM PDT GBP/JPY is Attempting to Break above a Declining Wedge (5/13) GBP/JPY Short-Term to Medium-Term- The GBP/JPY held its weakness from breaking below 130.00. - A strong push in the Asian-European session brings the pair to 133.00 ahead of the US session. So far, the strength is contained and there is a corrective decline developing form this pivot. - A 50% retracement as well as the 200SMA reside near 131.75. - Remaining above this reflects the market's ability to build a bottom. - The 4H … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex – GBP/USD Pares Gains After Rising On Jump In U.K. Inflation Posted: 17 May 2011 04:31 AM PDT Forex Pros – The pound pared gains against the U.S. dollar on Tuesday, pulling away from a two-day high as markets gauged that higher inflation was unlikely to prompt the Bank of England to raise interest rates before the years end.<br /><br />GBP/USD pulled back from 1.6303, the pair&rsquo;s highest since Friday to hit 1.6246 during European early afternoon trade, still up 0.34% on the day.<br /><br />Cable was likely to find support at 1.6145, Friday&rsquo;s … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex – EUR/USD Edges Higher But Remains Under Pressure Posted: 17 May 2011 03:38 AM PDT Forex Pros – The euro extended modest gains against the U.S. dollar on Tuesday, edging up to a fresh daily high, but lingering concerns over Greek sovereign debt kept the single currency under pressure.<br /><br />EUR/USD hit 1.4224 during European late morning trade, the daily high; the pair subsequently consolidated at 1.4203, gaining 0.35%.<br /><br />The pair was likely to find support at 1.4047, Monday&rsquo;s low and resistance at 1.4339, last … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Soybean Futures Advance On Disappointing U.S. Crop Progress Posted: 17 May 2011 03:28 AM PDT Forex Pros – utures Pros &ndash; Soybean futures snapped two days of losses on Tuesday, after a U.S. government report showed that U.S. soybean plantings lagged behind the pace of recent years, adding to concerns over tightening U.S. supplies. <br /><br />On the Chicago Mercantile Exchange, soybean futures for July delivery traded at USD13.3025 a bushel during European morning trade, climbing 0.4%.&nbsp; <br /><br />It earlier rose to a daily high of USD13.3262 … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex News – Mixed Sentiment In Europe Posted: 16 May 2011 10:40 PM PDT By ForexMansion.com   After Portugal’s bailout was approved by the European finance ministers, worries about the region’s debt crisis were tempered and some confidence was back. The euro extended its gains on expectations the crisis will be contained. The European finance ministers approved yesterday a 78 billion Euros bailout for Portugal. Meanwhile officials continue to negotiate the measures needed to rescue Greece from its crisis after last year’s bailout failed to sustain the … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

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