Thursday, July 21, 2011

DailyMarkets.com - Chipotle Lags On Higher Food Costs

DailyMarkets.com - Chipotle Lags On Higher Food Costs

Chipotle Lags On Higher Food Costs

Posted: 21 Jul 2011 07:36 AM PDT

Chipotle Mexican Grill, Inc. (NYSE:CMG) reported second quarter 2011 earnings of $1.59 per share, which missed the Zacks Consensus Estimate of $1.68 but increased 8.9% from the prior-year quarter earnings of $1.46 per share. The results included a pre-tax charge of $2.4 million or 5 cents a share related to the loss incurred by the company in ANGR Holdings LLC.
The company reported lower-than-expected results primarily due to higher food costs and increased legal expenses arising from the ongoing … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Earnings Preview: RadioShack

Posted: 21 Jul 2011 07:36 AM PDT

RadioShack Corporation (NYSE:RSH), one of the leading consumer electronics specialty retailers in the U.S., is slated to release its second quarter 2011 results on Monday, July 25, before the opening bell. The current Zacks Consensus Estimate for the second quarter is pegged at 38 cents per share, representing an annualized growth of negative 8.46%.
With respect to earnings surprises over the trailing four quarters, RadioShack has outperformed the Zacks Consensus Estimate in all the three quarters … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

PepsiCo Earnings In Line

Posted: 21 Jul 2011 07:36 AM PDT

Core earnings for PepsiCo Inc. (NYSE:PEP) climbed 10% in the second quarter to $1.21, compared to last year’s $1.10. The higher earnings were driven by operating profit growth and a lower year-over-year core income tax rate.
Earnings were in line with the Zacks Consensus Estimate.
The New York-based company reported growth in volume, revenues, operating profit and earnings per share, fueled by top line gains across its worldwide snacks and beverage businesses and from the acquisition of … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Mass Confusion For Oil Traders Leads To Consolidation

Posted: 21 Jul 2011 07:18 AM PDT

Thursday, July 21, 2011
The Crude Oil market continues to gyrate between the 95.00 and 100.00 levels, giving traders no definitive sign of a breakout. The bias, if any, would be with the bull camp, as many traders, especially long-sighted traders, are inherently bullish. Inventory levels continue to be a concern for many traders, notching seven consecutive drawdowns, but economic data has lagged. Technically, the chart gives no hints to the future direction of the market. Normally, some traders … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex – EUR/USD Rallies On Greece Draft Proposal Plan

Posted: 21 Jul 2011 07:14 AM PDT

Forexpros – The euro rallied to an almost two-week high against the U.S. dollar on Thursday, amid optimism that euro zone officials were nearing a deal on a second bailout package for Greece.<br /><br />EUR/USD hit 1.4354 during early U.S. trade, the pair&rsquo;s highest since July 14; the pair subsequently consolidated at 1.4345, jumping 0.92%.<br /><br />The pair was likely to find support at 1.4067, Tuesday&rsquo;s low and resistance at 1.4552, the high of … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Philly Fed Manufacturing Index Rises Less-than-expected

Posted: 21 Jul 2011 07:07 AM PDT

Forexpros – Manufacturing activity in the Philadelphia-region rose less-than-expected in July, official data showed on Thursday.<br /><br />In a report, the Federal Reserve Bank of Philadelphia said that its manufacturing index improved to 3.2 in July from June&rsquo;s reading of minus 7.7. <br /><br />Analysts had expected the index to increase to 3.4 in July.<br /><br />On the index, a reading above 0.0 indicates improving conditions, below indicates … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

BB&T Beats On Higher Revenue

Posted: 21 Jul 2011 07:05 AM PDT

BB&T Corp.'s (NYSE:BBT) second quarter 2011 earnings came in at 44 cents per share, a penny ahead of the Zacks Consensus Estimate. This also compares favorably with the prior quarter earnings of 32 cents and prior-year quarter's earnings of 30 cents.
Net income available to common shareholders for the second quarter was $307 million, up 36.4% from $225 million reported in the previous quarter and up 46.2% from $210 million recorded in year over year period.
BB&T reported second quarter … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Crude Oil Hovers Close To 2-week High On EU Rescue Proposal

Posted: 21 Jul 2011 06:59 AM PDT

Forexpros – Crude oil futures erased losses on Thursday, re-approaching a two-week high as optimism European leaders would reach an agreement to solve the region&rsquo;s debt crisis boosted demand for riskier assets. <br /><br />On the New York Mercantile Exchange, light, sweet crude futures for delivery in September traded at USD99.19 a barrel during U.S. morning trade, climbing … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Record High North Dakota Oil Production In May

Posted: 21 Jul 2011 06:49 AM PDT

Oil production in N. Dakota set some new monthly records in May:

1. A new record for monthly production: 1,120,4576 barrels, a 21% increase from last May, and a 75% increase from two years ago (see chart above).

2. A new record for average daily production: 361,438 barrels. 

3. A new record number of wells producing: 5,329

4. A new record for oil-related jobs: 15,200 (see chart), which is more than double the number of North Dakota oil jobs two years ago.  

Related News: … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex – USD/CAD Falls To 3.5 Year Low On Euro Zone Rescue Plan

Posted: 21 Jul 2011 06:42 AM PDT

Forexpros – The U.S. dollar was down against its Canadian counterpart on Thursday, dropping to a three-and-a-half-year low amid optimism European leaders would reach an agreement on a solution to solve the region&rsquo;s debt crisis.&nbsp; <br /><br />USD/CAD hit 0.9425 during U.S. morning trade, the pair&rsquo;s lowest since November 9, 2007; the pair subsequently consolidated at 0.9442, shedding 0.33%.<br /><br />The pair was likely to find support at … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Euro Rallies As Euro-zone Summit Begins

Posted: 21 Jul 2011 06:42 AM PDT

The European Euro was the strongest performing major currency in the Asian and European sessions as it emerged from the Euro-zone summit in Brussels that the European Financial Stability Facility may guarantee Greek bonds, in order for the European Central Bank to accept default by the embattled Southern European nation. In fact, the rumors fueled a massive sell-off of the Swiss Franc, the weakest major currency on the day; the Euro-Swiss pair was up 0.76 percent on the day, at the time this … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Monarch Casino Outperforms

Posted: 21 Jul 2011 06:41 AM PDT

Monarch Casino & Resort Inc. (NASDAQ:MCRI) has reported second-quarter 2011 earnings of 22 cents per share, which came in way ahead of the Zacks Consensus Estimate of 13 cents and the year-earlier earnings of 16 cents.
Net revenue grew 2.8% year over year to $37.2 million and surpassed the Zacks Consensus Estimate of $36.0 million. The company showed improvement in most of its departments and gained market share. Continuous upgrades in the premier resort destination in northern Nevada helped … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Tractor Supply Ahead Of Estimate

Posted: 21 Jul 2011 06:36 AM PDT

Tractor Supply Co. (NASDAQ:TSCO), a leading retail firm and ranch store brand, recorded yet another quarter of good growth. Earnings per share in the second quarter of fiscal 2011 came in at $1.23, surpassing the Zacks Consensus Estimate of $1.20 as well as the prior-year earnings of $1.04 per share.
Robust performance in core consumable, usable and edible products − for instance, pet food and animal feed − acted as a catalyst for an increase of 4.6% in same-store sales compared with a rise of … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Stock Market News Briefs: BigBand Networks, Cintas, Ecolab, E*TRADE Financial, Intel, Manhattan Associates, Murphy Oil, Nalco Holding Company, Piper Jaffray Companies, PNC Bank Corp., AT&T

Posted: 21 Jul 2011 06:36 AM PDT

    PNC Financial Services (NYSE:PNC) reported Q2 EPS of $1.67, above the Zacks Consensus Estimate of $1.47 per share. Revenues fell 7.9% year-over-year to $3.60 billion

    Intel (NASDAQ:INTC) reported Q2 EPS of $0.59, beating the Zacks Consensus Estimates of $0.51 per share. Revenues for the quarter rose 22% year-over-year to $13.1 billion

    Share prices of digital video equipment maker BigBand Networks, Inc.  (NASDAQ:BBND) gained 9.22% after the … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

America Movil Posts Impressive 2Q

Posted: 21 Jul 2011 06:36 AM PDT

America Movil (NYSE:AMX), the largest telecom carrier in Latin America has reported second quarter earnings per ADR of $1.04, which breezed past the Zacks Consensus Estimate of 49 cents and climbed 23.8% from $0.84 in the year-ago quarter. The outperformance was driven by strong wireless subscriber growth as well as Pay TV and broadband expansion in Latin America. Net profit grew 14.1% year over year to MXN$24.2 billion ($2.1 billion).
Total revenue was approximately MXN$159.7 billion ($13.6 … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Exposing Uncle Sam’s Waste, Fraud, And Corruption

Posted: 21 Jul 2011 06:33 AM PDT

With fiscal deficits stretching out as far as the eye can see and politicians focused largely on tomorrow's polling numbers or their next election, who the hell really minds the store in Washington?
All too often we hear Washington politicians "talk the talk" of rooting out waste, fraud, and corruption, but who and how many of these pols legitimately "walk the walk"?
Where are the real statesmen in Washington who are truly willing to put our nation first rather than looking the other … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

NZD/USD Has Left The Station; Are You On The Kiwi Express?

Posted: 21 Jul 2011 06:32 AM PDT

Prev: NZD/USD Breaks Above Long-term Channel Resistnace; Swing projection Targets 0.8780 (7/19)
NZD/USD

Bullish Contnuation:
- The NZD/USD has resumed a long-term bullish mode since March of this year. The uptrend really started March of 2009. It was sharp back then, but relatively the rally has flattened since 2010 (but still bullish inside a channel.
- Recently a break above this channel suggests an acceleration. The train is done stalling and now is leaving the station with a projection … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex Trading: EURUSD Moves Above, Tests And Moves Back Above 100 Day MA

Posted: 21 Jul 2011 06:15 AM PDT

The surge higher on the expectation that the plan for Greece will calm fears not only in Greece (and others like Portugal and Ireland) but also to other nations that may get in trouble (through loans from the EFSF). The move higher has taken the price above the 100 day MA at the 1.4301 level.  The first move took the price to a high of 1.4321, corrected to 1.4301  level and has moved to a new high at the 1.4328. 

The US situation has not helped any with reports that the S&P … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Morning Market Brief

Posted: 21 Jul 2011 06:15 AM PDT

07/21/11 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

Forex – EUR/CHF Advances Amid Signs Of Progress On Greece

Posted: 21 Jul 2011 06:08 AM PDT

Forexpros – The euro climbed to an eight-day high against the Swiss franc on Thursday, amid signs that euro zone officials were nearing a deal on a second bailout package for Greece.<br /><br />EUR/CHF hit 1.1758 during European afternoon trade, the pair&rsquo;s highest since July 11; the pair subsequently consolidated at 1.1746, surging 0.78%.<br /><br />The pair was likely to find support at 1.1512, Tuesday&rsquo;s low and resistance at 1.1920, the high of … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Markets In Everything: Kindle Textbook Rental

Posted: 21 Jul 2011 06:07 AM PDT

“Amazon’s Kindle Textbook Rental is a flexible and affordable way to read textbooks. You can rent for the minimum length, typically 30 days, and save up to 80% off the print list price. If you find you need your textbook longer, you can extend your rental by as little as 1 day as many times as you want and just pay for the added days.”

One example is “Fundamentals of Financial Management” by Brigham and Houston, which has a retail list price of $186.95, sells in hardcover on Amazon for … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Hudson City Reports Mixed Bag

Posted: 21 Jul 2011 06:05 AM PDT

Hudson City Bancorp Inc.'s (NASDAQ:HCBK) second-quarter 2011 operating earnings came in at 19 cents per share, outpacing the Zacks Consensus Estimate by a penny. However, this compares unfavorably with the earnings of 29 cents in the prior-year quarter.
HudsonCity reported an operating income of $96.0 million compared with $142.6 million in the prior-year quarter. Operating earnings were primarily affected by lower interest and dividend income, substantial decrease in non-interest income and … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Nokia Beats But Outlook Weak

Posted: 21 Jul 2011 06:05 AM PDT

Nokia Corp. (NYSE:NOK), the largest mobile phone manufacturer of the world, declared its second-quarter 2011 financial results, beating both the top line and bottom line of the Zacks Consensus Estimates. However, loss of market share of Nokia in the global mobile phone market continues as the company sold lesser number of handsets.
Quarterly net revenue was approximately $13,182 million, down 7% year over year, surpassing the Zacks Consensus Estimate of $13,171 million. Quarterly net loss was … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

GBP/JPY Breaking Above A Triangle; 129.00 Is Critical Resistance

Posted: 21 Jul 2011 06:05 AM PDT

Prev: GBP/JPY breaks Below 127.00, Signals Downtrend Continuation; EW Count Update (7/18)
GBP/JPY

Failed 127.00 Breakdown, Triangle Breakout Attempt:
- The break below 127.00 failed to confirm as pullbacks contained the market in a triangle congestion.
- The 4H chart shows the market attempting to break above the triangle resistance. However, the momentum reflected by the RSI reading remains bearish if it fails to sustain a break above 60, and returns back below 40.
Bullish Scenario:
- To … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Jobless Claims Disappoint, No Light At End Of US Labor Market

Posted: 21 Jul 2011 05:58 AM PDT

The slight optimism we had from recent jobless claims figures takes a step back today, as we saw new initial claims climb to 418K in the week ended July 16th, while continuing claims  dropped by 50K to 3.7 million for the week ended July 9th.

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The news is a negative for the USD, and following the news … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex Trading: NZDUSD Breaks To New 30 Year Highs

Posted: 21 Jul 2011 05:57 AM PDT

The risk on trade is on and the NZDUSD has moved to new 30 year highs. The price has reached a trendline on the hourly chart going back to the end of June. The level comes in at the 0.8608 level.    The surge to the upside took out closer resistance at the 0.8587 level and this will now be support for the pair.  A move back below this level will be needed by any sellers looking sell a top.  In a trend move like the NZDUSD tops can be sold but only against resistance … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Exposing Uncle Sam’s Waste, Fraud, And Corruption

Posted: 21 Jul 2011 05:51 AM PDT

With fiscal deficits stretching out as far as the eye can see and politicians focused largely on tomorrow's polling numbers or their next election, who the hell really minds the store in Washington?
All too often we hear Washington politicians "talk the talk" of rooting out waste, fraud, and corruption, but who and how many of these pols legitimately "walk the walk"?
Where are the real statesmen in Washington who are truly willing to put our nation first rather than looking the other … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

U.S. Futures Higher With Key Earnings In Focus; Dow Up 0.5%

Posted: 21 Jul 2011 05:42 AM PDT

Forexpros – U.S. stock futures pointed to a higher open on Thursday, as investors awaited developments from a critical summit meeting of European leaders, while shares in the financial sector were boosted on the back of strong earnings from Morgan Stanley.<br /><br />Dow Jones Industrial Average futures pointed to a gain of 0.5%, the S&amp;P 500 futures climbed 0.6%, while the Nasdaq 100 futures added 0.4%.&nbsp; <br /><br />Stock futures held on to gains after … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

EUR Rebounds Strongly As Summit Documents Leaked

Posted: 21 Jul 2011 05:40 AM PDT

It's been a choatic session as markets first rallied overnight, then fell as we had headlines of a possible "selective default" and now we see the EUR reclaiming its losses as we have documents leaked from the EU Summit showing some promise.
The keys so far seem to be an extension of EFSF loans from 7.5 years to 15 years, as well as lowering interest rates to 3.5% to any new loans given to Greece.
There are indication that the flexibility that the market (and the ECB and IMF) wanted in … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

U.S. Initial Jobless Claims Rise More-than-expected

Posted: 21 Jul 2011 05:40 AM PDT

Forexpros – The number of people who filed for unemployment assistance in the U.S. last week rose more-than-expected, official data showed on Thursday. <br /><br />In a report, the U.S. Department of Labor said the number of individuals filing for initial jobless benefits in the week ending July 15 rose by 10,000 to a seasonally adjusted 418,000, above expectations of 408,000.&nbsp;&nbsp; <br /><br />The previous week&rsquo;s figure was revised up to … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Jacobs Heaps Contract Silo

Posted: 21 Jul 2011 05:30 AM PDT

Jacobs Engineering Group Inc.(NYSE:JEC) announced winning of three strategic contract awards. These three awards are from the three big nations: U.S. Army Corps of Engineers (USACE) Kansas City District, Civil Engineering and Development Department of the Government of the Hong Kong Special Administrative Region and from URENCO ChemPlants Limited, a wholly owned subsidiary of URENCO Ltd, UK.
USACE Kansas City District contract involves enhanced commissioning services for various projects within … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex Trading: EURUSD Moves Higher On Healing Hope

Posted: 21 Jul 2011 05:29 AM PDT

The EURUSD has shot up on the expectation that the bailout package will save the day in the EU. There have been draft proposals on the newswires. The thought is the EFSF will be able to recapitalize the Greek banks through direct loans to government. THis would include countries other Greece, Ireland and Portugal. The EFSF will also be able to intervene in the debt markets on a precautionary basis. The loans will carry a rate of 3.5% from the EFSF. This rate is agreesive and would allow for … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Chinese Manufacturing Sector Being Tamed By Tightening Campaign

Posted: 21 Jul 2011 05:24 AM PDT

While Europe deals with its sovereign debt problems we saw evidence of slowdown in China, as the manufacturing PMI there slipped below the 50 level separating expansion from contraction according to the preliminary reading of the HSBC index for July.
That implies that manufacturing will contract for the first time in a year as both output and new orders dropped.
From the Release: ""Headline flash PMI fell below 50 for the first time since July 2010, suggesting slowing momentum … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Qualcomm Beats Yet Stock Tanks

Posted: 21 Jul 2011 05:06 AM PDT

Supported by significant surge in demand for the high-end 3G smartphones and tablets, Qualcomm Inc. (NASDAQ:QCOM) reported solid earnings in the third quarter of fiscal 2011. Net income was up 35% year over year and 4% sequentially, signifying the strength of operating efficiency of Qualcomm. The company's Snapdragon platform and product diversification strategy make management more confident about the rest of fiscal 2011 and therefore, the company raised its previously announced financial … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex – Dollar Mixed Vs. Rivals As Euro Summit Looms

Posted: 21 Jul 2011 05:03 AM PDT

Forexpros – The U.S. dollar was mixed against its major counterparts in choppy trade on Thursday, as the euro retreated ahead of a key euro zone summit meeting to discuss Greece&rsquo;s debt crisis later in the day.<br /><br />During European afternoon trade, the greenback was up against the euro, with EUR/USD sliding 0.17% to hit 1.4190.<br /><br />The single currency weakened broadly after Eurogroup President Jean-Claude Juncker said a selective default for … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

EUR Slides As “Selective Default” Becoming More A Reality

Posted: 21 Jul 2011 04:52 AM PDT

The main headline coming from the EU Summit is from the Eurogroup Chairman Jean-Claude Juncker in which he says that while Euro-zone governments are trying to avoid a "selective default" as part of a new financing package for Greece, that worrying outcome can't be ruled out.
It seems that the ECB has relented in its insistence on refusing any option that may be deemed a "selective default" as well according to reports from Reuters.
From Reuters: "The European Central Bank would … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex – GBP/USD Pares Gains As Euro Zone Debt Woes Weigh

Posted: 21 Jul 2011 04:47 AM PDT

Forexpros – The pound pared gains against the U.S. dollar on Thursday, pulling back from a one-month high in choppy trade, as investors remained on edge ahead of an emergency euro zone summit to discuss Greece&rsquo;s debt later in the day.<br /><br />GBP/USD pulled away from 1.6199, the pair&rsquo;s highest since June 22, to hit 1.6172 during European afternoon trade, still up 0.13% on the day.<br /><br />Cable was likely to find support at 1.6039, … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex – EUR/USD Off 2-week High Ahead Of Critical Debt Summit

Posted: 21 Jul 2011 04:24 AM PDT

Forexpros – The euro erased gains against the U.S. dollar on Thursday, pulling away from a two-week high in volatile trade ahead of a critical euro zone summit meeting to discuss a solution to Greece&rsquo;s debt problem later in the day.<br /><br />EUR/USD retreated from 1.4294, the pair&rsquo;s highest since July 8 to hit 1.4170 during European early afternoon trade, shedding 0.30%.<br /><br />The pair was likely to find support at 1.4067, Tuesday&rsquo;s … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex – USD/CHF Holds Modest Gains Ahead Of EU Summit

Posted: 21 Jul 2011 04:05 AM PDT

Forexpros – The U.S. dollar held on to modest gains against the Swiss franc on Thursday, as investors remained watchful ahead of a critical euro zone summit meeting later in the day.<br /><br />USD/CHF hit 0.8237 during European early afternoon trade, the daily high; the pair subsequently consolidated at 0.8220, rising 0.26%.<br /><br />The pair was likely to find support at 0.8119, the low of July 15 and resistance at 0.8277, the high of July 19.<br /><br … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Corn Futures Fall On Favorable U.S. Weather, China Concerns

Posted: 21 Jul 2011 03:26 AM PDT

Forexpros – Corn futures slumped to a one-week low on Thursday, as favorable weather in the U.S. eased concerns over deteriorating crop conditions, while worries over a slowdown in Chinese demand also weighed. <br /><br />On the Chicago Mercantile Exchange, corn futures for September delivery traded at USD6.8362 a bushel during European morning trade, shedding 0.55%.&nbsp; <br /><br />It earlier fell as much as 0.9% to trade at USD6.7925 a bushel, the lowest price … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Swiss ZEW Economic Expectations Drop Significantly In July

Posted: 21 Jul 2011 03:03 AM PDT

Forexpros – Economic sentiment in Switzerland dropped significantly in July, plunging by 34.6 points to the lowest level since January 2009, data showed on Thursday.<br /><br />In a report, the Centre for European Economic Research (ZEW) said its indicator of economic sentiment tumbled to minus 58.9 in July, compared to a reading of minus 24.3 in June.&nbsp; <br /><br />A reading above 0.0 on the indicator indicates optimism, while a score below 0.0 indicates … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex – EUR/GBP Erases Gains After Weak Euro Zone Data

Posted: 21 Jul 2011 02:52 AM PDT

Forexpros – The euro erased gains against the pound on Thursday, pulling away from a one-week high after preliminary data showed that the euro zone&rsquo;s economy slowed sharply in July.<br /><br />EUR/GBP pulled away from 0.8830, the pair&rsquo;s highest since July 14, to hit 0.8782 during European morning trade, shedding 0.21%.<br /><br />The pair was likely to find support at 0.8704, the low of July 18 and a six-week low and resistance at 0.8846, the high … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards
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