Thursday, June 23, 2011

DailyMarkets.com - Lennar’s 2Q Beats Estimates

DailyMarkets.com - Lennar’s 2Q Beats Estimates

Lennar’s 2Q Beats Estimates

Posted: 23 Jun 2011 11:35 AM PDT

Lennar Corporation (NYSE:LEN) reported net earnings of $13.8 million or 7 cents per share in the second quarter of fiscal 2011 ended May 31, 2011, compared with $28.7 million or 15 cents per share in the year-ago quarter. Reported earnings were higher than the Zacks Consensus Estimate of 4 cents per share.
Total revenue in the quarter dropped 6.1% year over year to $764.5 million, due to poor performance across all the company's reporting segments, except Rialto Investments. However, revenues … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

New Homes Sales Down Less Than Expected

Posted: 23 Jun 2011 11:35 AM PDT

New Home Sales in May fell by 2.1% from April, to a rate of 319,000. Relative to a year ago, sales are up 13.5%. While the rebound is more than welcome, it is still a very dismal rate of New Home sales.

Offsetting the decline was an upward revision to the April numbers of 3,000 to 326,000. Thus relative to where we thought we were, it could be seen as a 1.2% decrease. The May level was, however, substantially better than the expected rate of 305,000. Still, the 12 lowest months on record (back … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

CarMax Profits On Heightened Sales

Posted: 23 Jun 2011 11:35 AM PDT

CarMax Inc.(NYSE:KMX) posted a 25% rise in profit to $126.3 million or 55 cents per share in the first quarter of the fiscal year ended May 31, 2011from $101.1 million or 44 cents per share in the prior fiscal year-quarter. The profit exceeded the Zacks Consensus Estimate by 8 cents per share.
The increase in profit was attributable to improved customer traffic and higher unit sales, partially offset by a fall in sales conversion rate. This is reflected in the 6% improvement of comparable store … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Transocean: Blame It On BP!

Posted: 23 Jun 2011 11:35 AM PDT

In an internal investigation report, drilling contractor Transocean Ltd (RIG) – the owner and operator of Deepwater Horizon oil rig at the heart of the Gulf of Mexico (GoM) disaster – has accused British energy giant BP plc (BP) of decisions that led to the biggest environmental disaster in U.S. history.
As a reminder, on April 20, 2010, offshore driller Transocean's ultra-deepwater Horizon drilling platform, contracted to BP, sank following an explosion while operating in the U.S. Gulf … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex – AUD/USD Down In U.S. Trade

Posted: 23 Jun 2011 11:15 AM PDT

Forex Pros – The Australian Dollar was lower against the U.S. Dollar on Thursday after the release of U.S. data on Initial Jobless Claims.<br/><br/> AUD/USD was trading at 1.0470, down 0.98% at time of writing.<br/><br/> The pair was likely to find support at 1.0455, today&rsquo;s low, and resistance at 1.0651, Wednesday&rsquo;s high.<br/><br/> Earlier in the day, official data showed that U.S. Initial Jobless Claims rose unexpectedly to a … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Initial Jobless Claims Up Again

Posted: 23 Jun 2011 11:05 AM PDT

Initial Claims for Unemployment Insurance rose by 9,000 last week to 429,000. This was worse than the expected level of 413,000. Last week's numbers were revised up by 6,000, so one could see it as a 15,000 increase. The trend in initial claims had been downward, though there were some bumps along the way. Last month, they have started to shoot back up again. That is a very worrisome trend.

This week brought more damage. This is the 11th straight week we have been above the 400,000 level. … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Energy Transfer, Regency In Deal

Posted: 23 Jun 2011 11:05 AM PDT

Lone Star LLC –– a joint venture between Energy Transfer Partners (NYSE:ETP) and Regency Energy Partners L.P. (NASDAQ:RGNC) –– announced that it will construct a 530-mile natural gas liquids (NGL) pipeline for $700 million.
Energy Transfer will fund 70% of the estimated cost, while Regency Energy will contribute the remaining portion.
The new pipeline, connecting Texas' Winkler County and the Jackson County processing plant, will have a minimum capacity of approximately 130,000 barrels per … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Secondary Offering From Prologis

Posted: 23 Jun 2011 11:05 AM PDT

Prologis Inc. (NYSE:PLD) – the erstwhile AMB Property Corp., has recently announced plans to offer 30.0 million common shares to raise cash and repay debt. The company will also grant the underwriters an option to purchase an additional 4.5 million shares to cover any over-allotments.
BofA Merrill Lynch – the investment banking and wealth management division of Bank of America Corporation (BAC), and JPMorgan Chase & Co. (NYSE:JPM) – a global financial services firm, are acting as joint … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

“Oil Breaking Down…transports, Airlines Benefit”

Posted: 23 Jun 2011 10:52 AM PDT

06/23/11 ICAP Equities’ Kenneth Polcari discusses today’s selloff in oil prices, and weighs in on Bernanke’s … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Lockheed Supports Weather Program

Posted: 23 Jun 2011 10:50 AM PDT

Lockheed Martin Corporation (NYSE:LMT) said it has installed a XLS-band antenna at Andersen Air Force Base, Guam, to help military commanders gather real time weather information for their operations.
This antenna is one among the series of six installations to be made worldwide as a part of the U.S. Air Force MARK IVB program. The remaining five installations under the program will be made in Kuwait and Hawaii by October 2011.
Lockheed said these antennas will allow the Air Force Weather Agency … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex Trading: EURUSD Back Above The 100 Day MA

Posted: 23 Jun 2011 10:46 AM PDT

The 100 day MA is at the 1.4182 level and the price has moved above the level. This muddies the water for the EURUSD for the rest of the day. The pair has breached the 100 bar MA on the 5 minute chart but is running out of steam. I would not be surprised to see another move higher toward the 1.4213 level, but sellers should keep the overall bias to the downside. If the price is able to close below the 1.4150 level today further selling should be expected. 1.4182 and 1.4150 still remain … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

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

Posted: 23 Jun 2011 10:45 AM PDT

Forex Pros – The New Zealand Dollar was lower against the U.S. Dollar on Thursday after the release of U.S. data on Initial Jobless Claims.<br/><br/> NZD/USD was trading at 0.8102, down 0.53% at time of writing.<br/><br/> The pair was likely to find support at 0.8046, Monday&rsquo;s low, and resistance at 0.8194, Wednesday&rsquo;s high.<br/><br/> Earlier in the day, official data showed that U.S. Initial Jobless Claims rose unexpectedly to a … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Uganda Central Bank To Start Inflation Targeting

Posted: 23 Jun 2011 10:36 AM PDT

The Bank of Uganda announced that it would commence inflation targeting in the fiscal year through June 2012, with an annual inflation target of 7% during the first 3 years.  The Bank also said it would begin using the 7-day repo rate to influence inflation, rather than adjusting money supply.  The Bank commented: ”We are making a shift from using quantities to inflation targeting,”.

The new initiative will commence in full in July this year, with the bank commencing … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Wells Fargo Stays Neutral

Posted: 23 Jun 2011 10:35 AM PDT

We have reiterated our Neutral recommendation on the shares of Wells Fargo & Co. (NYSE:WFC). The decision comes following a detailed analysis of the company's fundamentals, the pace of the Wachovia integration, its decision to acquire substantially all of the U.S.-based operating assets of Foreign Currency Exchange Corporation, a wholly owned subsidiary of the Bank of Ireland Group (NYSE:IRE) and the current economic environment.
First Quarter Results
Wells Fargo's first quarter 2011 earnings … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Czech National Bank Holds Interest Rate At 0.75%

Posted: 23 Jun 2011 10:13 AM PDT

The Ceska Narodni Banka (CNB) held the two-week repurchase rate unchanged at 0.75%.  The Bank also maintained the the discount rate unchanged at 0.25% and the Lombard rate at 1.75%. The Bank said: “Headline and monetary-policy relevant inflation will be close to the inflation target over the monetary policy horizon.  Consistent with the forecast is broad stability of market interest rates in the near future and a gradual rise in rates starting in 2011 Q4.  Risks to the … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Deal For Quality Systems’ NextGen

Posted: 23 Jun 2011 10:03 AM PDT

NextGen Healthcare Information Systems, a fully-owned subsidiary of Electronic Health Record ("EHR") service provider Quality Systems Inc. (NASDAQ:QSII), recently revealed that Benefis Health System has chosen NextGen Ambulatory EHR, NextGen Practice Management and NextGen Health Information Exchange solutions.
Benefis Health System, located in Great Falls, MT, provides health care in 40 specialties and serves patients in 15 or so counties in North Central Montana. It is verified as a Level II … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Dollar Rises On Mixed Data, Euro Slide

Posted: 23 Jun 2011 05:00 AM PDT

06/23/11 The US dollar posted another rise against its higher-yielding counterparts this session following a rise in jobless claims and a better-than-expected decline in new home … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex – GBP/USD Down In U.S. Trade

Posted: 23 Jun 2011 10:00 AM PDT

Forex Pros – The British Pound was lower against the U.S. Dollar on Thursday after the release of U.S. data on Initial Jobless Claims.<br/><br/> GBP/USD was trading at 1.5974, down 0.61% at time of writing.<br/><br/> The pair was likely to find support at 1.5938, today&rsquo;s low, and resistance at 1.6262, Wednesday&rsquo;s high.<br/><br/> Earlier in the day, official data showed that U.S. Initial Jobless Claims rose unexpectedly to a seasonally … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Turkish Central Bank Holds Interest Rate At 6.25%

Posted: 23 Jun 2011 09:59 AM PDT

The Monetary Policy Committee of the Central Bank of the Republic of Turkey held its 1-week repo rate steady at 6.25%.  The Bank also held the overnight borrowing and lending rates unchanged at 1.50% and 9.00% respectively.  The Bank said: ”Overall, in order to contain the risks towards price stability and financial stability, the Committee has decided to monitor the tightening impact of the existing policy mix and take additional measures along the same lines, if … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Regions Settles Mortgage Fraud

Posted: 23 Jun 2011 09:55 AM PDT

According to a regulatory filingfrom the Securities and Exchange Commission (SEC), Regions Financial Corp.'s (NYSE:RF) subsidiaries Morgan Keegan & Co. and Morgan Asset Management has agreed to pay $200 million to settle down fraud charges related to subprime mortgage-backed securities. They were involved in fraudulently marketed mutual funds.
The SEC alleged Regions’ subsidiaries of fraud related to the sale of proprietary Regions Morgan Keegan (RMK) Bond Funds. Memphis, … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Merck KGaA To Withdraw MS Drug

Posted: 23 Jun 2011 09:55 AM PDT

Merck KGaA (MKGAF) recently announced its plans to withdraw the regulatory applications filed with the US Food and Drug Administration (FDA) and the European Medicines Agency (EMA), seeking approval to market cladribine as a treatment for relapsing-remitting multiple sclerosis (MS).
This decision comes after Merck KGaA's discussions with the FDA at the end-of-review meeting related to the new drug application (NDA) for cladribine. Merck KGaA believes that data from the ongoing clinical … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

European Markets Close Lower; Dax Down 1.77%

Posted: 23 Jun 2011 09:55 AM PDT

Forex Pros – European stocks were down after the closing bell on Thursday.<br/><br/> At the close of European trade, Germany&rsquo;s DAX fell 1.77%, London&rsquo;s FTSE 100 shed 1.71%, France&rsquo;s CAC 40 declined 2.16% and the EURO STOXX 50 was down 2.30%.<br/><br/> Earlier in the day, official data showed that U.S. Initial Jobless Claims rose unexpectedly to a seasonally adjusted 429K last week from 420K in the preceding week whose figure was revised up … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

People’s United Stays Neutral

Posted: 23 Jun 2011 09:35 AM PDT

We are reiterating our Neutral recommendation on People’s United Financial Inc. (NASDAQ:PBCT) backed by the company's better-than-expected first-quarter 2011 earnings.
In April, People’s United reported first-quarter 2011 operating earnings per share of 15 cents, surpassing the Zacks Consensus Estimate by 3 cents. Moreover, earnings compared favorably with 10 cents per share reported in the prior quarter and 8 cents in the prior-year quarter. The modest improvement in results was attributable to … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

UPDATE: Allen Stanford And Whitey Bulger: Two Peas In A Pod?

Posted: 23 Jun 2011 09:30 AM PDT

UPDATE: I referenced the potential similarity in the cases of alleged financial scammer Allen Stanford and noted Boston gangster James J. "Whitey" Bulger in May 2009.
Our nation and especially Stanford Financial investors continue to wait to learn what may have really happened with Allen Stanford. Was he a pawn for the Department of Justice and/or other government agencies looking to infiltrate the Central and South American drug trade?
As for Whitey, after sixteen years of living on the … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

BJ’s Consolidates In Las Vegas

Posted: 23 Jun 2011 09:07 AM PDT

California-based BJ's Restaurants, Inc (NASDAQ:BJRI) recently announced the opening of a new restaurant in Las Vegas, Nevada. This is the fifth of the company's targeted 12 to 13 new openings for fiscal 2011. The company intends to drive market share through expansion and the opening of the new restaurant is in line with this strategy.
The newly opened restaurant covers approximately 8,500 square feet and is capable of accommodating around 280 guests. It is located in the 1 million square feet … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

BJ’s Consolidates In Las Vegas

Posted: 23 Jun 2011 09:07 AM PDT

California-based BJ's Restaurants, Inc (NASDAQ:BJRI) recently announced the opening of a new restaurant in Las Vegas, Nevada. This is the fifth of the company's targeted 12 to 13 new openings for fiscal 2011. The company intends to drive market share through expansion and the opening of the new restaurant is in line with this strategy.
The newly opened restaurant covers approximately 8,500 square feet and is capable of accommodating around 280 guests. It is located in the 1 million square feet … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

FDA Approves Pfizer/Acura’s Oxecta

Posted: 23 Jun 2011 09:05 AM PDT

Pfizer Inc. (NYSE:PFE) and partner Acura Pharmaceuticals Inc. (NASDAQ:ACUR) recently received US Food and Drug Administration (FDA) approval for their pain treatment, Oxecta (oxycodone). Oxecta (formerly known as Acurox) gained approval for the management of acute and chronic moderate to severe pain where the use of an opioid analgesic is appropriate.
Oxecta became a part of Pfizer's portfolio following its acquisition of King Pharma earlier this year. Oxecta has been developed under an agreement for … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

JPM Starts Brokerage Biz In Europe

Posted: 23 Jun 2011 09:05 AM PDT

JPMorgan Chase & Co.(NYSE:JPM) announced the launch of its prime brokerage service in Europe that will cater to the needs of various hedge funds based in Europe, Africa and the Middle East. The launch of the brokerage platform reflects the company's strategy to provide a wide range of products and services to hedge funds worldwide.
JPM now has a complete set of local infrastructure in place to offer a full suite of products to both the international and regional customers. With the launch of … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex Trading: GBP/USD Breaks Down, Targets Further Downside

Posted: 23 Jun 2011 09:03 AM PDT

GBP/USD (daily chart) as of Thursday (6/23/2011) has made a swift and strong breakdown below multiple support levels, indicating a potential trend change for the pair after confirming a breakdown of the longstanding bullish support trendline that was in place since the May 2010 lows, more than one year ago. The initial target on this breakdown resided around the key 1.6000 psychological support/resistance region, but price action has gone on tentatively to drop below this important level. The … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Lennar Constructs Weak Quarterly Profits

Posted: 23 Jun 2011 03:45 AM PDT

06/23/11 The Lennar Corp. posted a smaller quarterly profit on Thursday as home prices fell which lead to builders taking more charges for writing down … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

ITW’s May-end Revenue Update

Posted: 23 Jun 2011 08:35 AM PDT

Illinois Tool Works Inc. (NYSE:ITW) reported an 18% year-over-year rise in its operating revenues for the three months ended May 31, 2011. The increase records an 8% growth, which can be ascribed to a hike in base revenue and 5% to acquisitions. Currency translation had a positive 5.0% impact on the revenue. End markets were strong with a solid demand for the company's products.
Transportation revenue grew by 26% year over year, while Industrial Packaging rose by about 19%. Power Systems and … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Weyerhaeuser To Sell Hardwood Unit

Posted: 23 Jun 2011 08:35 AM PDT

Weyerhaeuser Company (NYSE:WY) recently entered into an agreement to sell its hardwood and industrial products division to American Industrial Partners. Financial terms of the transaction were not disclosed.
The transaction is expected to be complete by the month of August this year. Upon completion, the division will operate under the name of Northwest Hardwoods Inc. and will have its headquarters in Tacoma.
The division is primarily engaged in manufacturing and selling 15 species of hardwood … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Australian Dollar: The Downside Prevails

Posted: 23 Jun 2011 08:18 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 993

Posted: 23 Jun 2011 08:18 AM PDT

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

Fast Brazilian Harvest Has Coffee Facing The Cold Press

Posted: 23 Jun 2011 08:18 AM PDT

Today’s Idea 6-23-2011
The recent sharp pullback in Coffee prices can likely be attributed to a shift in market fundamentals, but it may also be a sign that the run-up in prices to over $3 was excessive. Coffee not only faces the possibility of a larger and higher quality Brazilian crop, but also the outside challenges due to currency concerns and commodities, as a whole, losing some of their appeal. Technically, the chart shows Coffee suffering a technical setback by breaking out of … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

GBP/JPY Completing A Wedge Pattern In A 3rd Bear Run

Posted: 23 Jun 2011 08:16 AM PDT

GBP/JPY's Decline is Intact but Momentum is Suspect (6/13)
GBP/JPY

Short-Term to Medium-Term
- No the Sterling is not going for more alcohol. It is however in a 3rd swing down as seen in the daily chart. The previous 2 downswings have been similar in length and a similar projection targets 128.00.
- Below that, we see support near the 78.6% retracement as well  near the 126 lows.
- The market should see some support here. If the market remains in sideways action, look for a regression … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Jabil Reports Mixed 3Q

Posted: 23 Jun 2011 08:05 AM PDT

Jabil Circuit Inc. (JBL) reported third quarter 2011 earnings of 49 cents per share, which missed the Zacks Consensus Estimate by a penny.
However, earnings per share (EPS) increased 75.0% year over year from 28 cents (including stock-based compensation but excluding amortization) reported in the prior-year quarter.
The strong results were driven by solid revenue growth in the quarter (up 22.2% year over year to $4.23 billion).
Operating Performance
Net income surged 83.4% year over year to … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Cautious Fed And European Fireworks Boost Bonds

Posted: 23 Jun 2011 08:03 AM PDT

The real challenge with quantitative easing is knowing when the policy is working. By forcing the yield curve lower the central bank provides incentive to lend. If the policy is successful, economic indicators flash green igniting asset prices and causing upwards pressure on the yield curve as investors conclude that monetary conditions must be reversed. When the policy is not working, investors do the Fed's job for it: Bankers buy bonds for fear of a slowdown and precisely because they see … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Word From The Floor: Wall Street Slides, Oil Sells Off

Posted: 23 Jun 2011 07:56 AM PDT

06/23/11 The major stock averages tumbled over 1.5%, as crude oil sold off. The IEA announced that it will release 60 mL barrels of oil into the … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Follow Carlos Slim And Fatten Your Portfolio

Posted: 23 Jun 2011 07:52 AM PDT

Follow Carlos Slim and Fatten Your Portfolio
by Carl Delfeld, Investment U Senior Analyst
Thursday, June 23, 2011: Issue #1541
Do you know anyone who could be fined in the morning for a cool $1 billion for "monopolistic practices" and still have a great day?
I do.
He has built a portfolio of companies worth an estimated $80 billion, representing an incredible 40 percent of the value of Mexico's entire stock market!
This makes Carlos Slim the world's wealthiest individual by a … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex – Dollar Rallies Vs. Rivals As Risk Appetite Crumbles

Posted: 23 Jun 2011 07:43 AM PDT

Forex Pros – The U.S. dollar rallied against almost all of its major counterparts on Thursday, as risk appetite crumbled after a weaker-than-expected reading on U.S. jobless claims added to fears over a slowdown in global economic growth.<br /><br />During early U.S. trade, the greenback was sharply higher against the euro, with EUR/USD tumbling 1.44% to hit 1.4148.<br /><br />Earlier in the day, preliminary data showed that private sector activity in the euro zone … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Natural Gas Futures Tumble To 5-week Low After U.S. EIA Data

Posted: 23 Jun 2011 07:42 AM PDT

Forex Pros – Natural gas futures extended losses on Thursday, tumbling to a five-week low after the U.S. Energy Information Administration said natural gas inventories rose more-than-expected last week. <br /><br />On the New York Mercantile Exchange, natural gas futures for July delivery traded at USD4.187 per million British thermal units during U.S. morning trade, tumbling 3.05%.&nbsp;&nbsp; <br /><br />It earlier fell as much as 3.7% to USD4.157 per million … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex – GBP/USD Hits 3-month Low Amid Global Growth Worries

Posted: 23 Jun 2011 07:34 AM PDT

Forex Pros – The pound extended steep losses against the broadly stronger U.S. dollar on Thursday, as a weaker-than-expected reading on U.S. initial jobless claims added to fears that the global economic recovery is losing momentum.<br /><br />GBP/USD hit 1.5938 during early U.S. trade, the pair&rsquo;s lowest since March 28; the pair subsequently consolidated at 1.5955, shedding 0.71%.<br /><br />Cable was likely to find short-term support at 1.5819, the low of … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

USD/CAD Remains In A Choppy Uptrend

Posted: 23 Jun 2011 07:31 AM PDT

USD/CAD

Short-Term to Medium-Term- The USD/CAD failed to break below the previous low at 0.9670. Instead, after a 78.6% retracement, the market built a bottom, and a sharp 4H candle just broke to the upside in the beginning of the US session.
- The continuing higher lows describe an uptrend, but the persistently deep corrections categorizes this to be a choppy one.
- Note that the RSI has only kissed 70 when the market went to 0.9895.
- Also, the psychological barrier at 1.0 holds … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Crude Plummets On IEA Price Easing Speculation

Posted: 23 Jun 2011 02:30 AM PDT

06/23/11 Front month crude prices took another dive this session, but a steep one, on a stengthening dollar and speculation of the IEA looking to ease prices and moderate … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Gold Futures Hit 6-day Low As U.S. Dollar Rallies

Posted: 23 Jun 2011 07:24 AM PDT

Forex Pros – Gold futures extended losses on Thursday, slumping to a six-day low as mounting concerns over the global growth outlook saw risk aversion sharpen, boosting the U.S. dollar and reducing the appeal of commodities. <br /><br />On the Comex division of the New York Mercantile Exchange, gold futures for August delivery traded at USD1,522.15 a troy ounce during U.S. morning trade, tumbling … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex – EUR/USD Tumbles On Fears Over Slowdown In Global Growth

Posted: 23 Jun 2011 07:18 AM PDT

Forex Pros – The euro fell sharply against the U.S. dollar on Thursday, as a spate of weak economic data as well as fears over Greece and the outlook for U.S. growth spurred a flight to safety.<br /><br />EUR/USD hit 1.4232 during early U.S. trade, the pair&rsquo;s lowest since June 17; the pair subsequently consolidated at 1.4153, tumbling 1.38%.<br /><br />The pair was likely to find short term support at 1.4072, the low of June 16 and a three-week low and … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Morning Market Report

Posted: 23 Jun 2011 01:15 AM PDT

06/23/11 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

Cupid Wins Over German Online Dating Business

Posted: 23 Jun 2011 01:08 AM PDT

Online dating company Cupid (LON:CUP) has acquired a 75 percent stake in two German online businesses, OnlineLiebe GmbH and WomenWeb GmbH, for a total of €2.75 million (£2.5million). The two companies are run together by the same team in Munich, led by founder Andreas von Maltzan, who is recognised as one of the pioneers and leaders in the German dating market, having established Neu.de, Germany's most popular dating site, which was sold to Meetic in 2007. Andreas has a track record of … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

What’s Driving Platinum?

Posted: 22 Jun 2011 10:00 PM PDT

Following a substantial 90 percent increase since the financial crisis, platinum prices have been sluggish. During the first six months of 2011, the metal gained only a few basis points. Platinum has significantly lagged silver (up 15.72 percent) and gold (up 7.72 percent), but has outpaced palladium, its closest relative.
In recent days, the market has discounted the metal because of weaker car sales in the U.S. According to the Wall Street Journal, Japan's earthquake shut down car … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex News – Pessimism Sends Investors Away From Risky Assets, As Stocks, Majors, And Commodities Drop Heavily

Posted: 22 Jun 2011 09:11 PM PDT

By ForexMansion.com
A huge wave of pessimism dominated financial markets on Thursday, where worse than expected jobless claims from the United States confirmed the weak outlook provided by the Fed on Wednesday, as the Fed's new projections for growth were revised lower for this year, signaling the recent slowdown in economic activities.
Moreover, investors were disappointed after the Fed's Chairman Bernanke excluded the possibility of QE3, and given the recent slowdown in economic … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

EUR/USD Daily Fundamental Analysis For June 24, 2011

Posted: 22 Jun 2011 08:43 PM PDT

By ForexMansion.com
The EUR/USD remained under heavy pressures mostly on Thursday in the light of the downbeat sentiment in the market over the outlook for global growth and the deepening debt crisis.
The beginning of the EU summit did little to salvage the euro from the downside pressures and so did the Greek government's approval of the austerity plan, as the prevailing pessimism was stronger and keep the focus delayed on a June 28 decision from the Greek parliament on the austerity … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

GBP/USD Daily Fundamental Analysis For June 24, 2011

Posted: 22 Jun 2011 08:29 PM PDT

By ForexMansion.com
 
The week ends with the release of no data from the British economy where the whole focus will be on the US. GDP annualized for the first quarter is predicted to record 2.2% from 1.8%. GDP annualized for the first quarter is predicted to remain unrevised at 2.2% at 12:30 GMT. At the same time, durable goods are expected show 1.6% advance in May relative to the 3.6% drop a month earlier. 
ThursdayJune 23
The pound fell sharply against majors, including the dollar … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

USD/CHF Daily Fundamental Analysis For June 24, 2011

Posted: 22 Jun 2011 08:28 PM PDT

By ForexMansion.com
 
The week ends with the release of no data from the Swiss economy where the whole focus will be on the US. GDP annualized for the first quarter is predicted to record 2.2% from 1.8%. GDP annualized for the first quarter is predicted to remain unrevised at 2.2% at 12:30 GMT. At the same time, durable goods are expected show 1.6% advance in May relative to the 3.6% drop a month earlier. 
ThursdayJune 23
The dollar rose sharply against majors, including the Swiss … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex News – A Pessimism Gush Brought Gains To The Dollar

Posted: 22 Jun 2011 04:03 PM PDT

By ForexMansion.com
 
After the Feds lowered the growth and employment estimates and Bernanke acknowledged that some of problems could continue to depress growth in 2012, risk aversion took the stance, and the safe heaven dollar strengthened.
“Maybe some of the headwinds that are concerning us, like the weakness in financial sector, problems in the housing sector… may be stronger and more persistent than we thought”, said Bernanke during a news conference last night.
Although the … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

AUD/NZD Daily Fundamental Analysis For June 24, 2011

Posted: 22 Jun 2011 03:13 PM PDT

By ForexMansion.com
 
The AUD/NZD pair retreated early Thursday after the Australian dollar dropped against the greenback affected by the FOMC decision. On the other hand, the Kiwi was able to hold its gains against the dollar due to the cheerful outlook for the New Zealand economy.
The Aussie fell to its lowest level in three days versus greenback after Fed’s policy makers kept the interest rate between zero to 0.25 percent, while they pointed that the U.S. economy recovery is slower than … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

AUD/USD Daily Fundamental Analysis For June 24, 2011

Posted: 22 Jun 2011 03:12 PM PDT

By ForexMansion.com
 
The Australian dollar dropped versus the US major counterpart after the Feds reported that the economic recovery is continuing at a modest pace, nonetheless, the Fed confirmed that the recovery was somewhat weaker than they expected, as labor market conditions remained weak, pushing investors to reduce their investment in higher yielding currencies. 
Broad markets dedicated their attention to the US economy after the Federal Open Market Committee (FOMC) left … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

NZD/USD Daily Fundamental Analysis For June 24, 2011

Posted: 22 Jun 2011 03:11 PM PDT

By ForexMansion.com
The US dollar continued its upside movement against all major currencies on Thursday and the volatility will extend to Friday with the focus on the GDP after Bernanke confirmed the slowing recovery.
Still the market continues its downside movement as the Fed downgraded their growth projections for this year to average 2.8% compared to 3.2% expected back in April that accordingly supported risk aversion and haven demand on the dollar, keeping kiwi biased to the downside.
We … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

USD/JPY Daily Fundamental Analysis For June 24, 2011

Posted: 22 Jun 2011 03:11 PM PDT

By ForexMansion.com
The dollar climbed slightly against the Japanese yen early Thursday after Fed's Chairman Ben Bernank's pres conference, where the greenback dominated the currency market as a safe heaven but it couldn't reflect this domination against the yen.
The Federal Open Market Committee kept the interest rate between zero to 0.25 percent, where the Fed’s policy makers pointed that the recovery is slower than expected.
Furthermore, Fed Chairman Ben Bernanke announced the GDP for … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards
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