Monday, July 25, 2011

DailyMarkets.com - Forex – Dollar Tumbles To Record Low Against Swiss Franc

DailyMarkets.com - Forex – Dollar Tumbles To Record Low Against Swiss Franc


Forex – Dollar Tumbles To Record Low Against Swiss Franc

Posted: 25 Jul 2011 02:44 AM PDT

Forexpros – The U.S. dollar tumbled to a record low against the safe haven Swiss franc on Monday, as talks on raising the U.S. debt ceiling remained deadlocked and Greece&rsquo;s sovereign debt rating was downgraded by Moody&rsquo;s Investor Services.<br /><br />USD/CHF hit 0.8042 during European morning trade, the pair&rsquo;s all-time low; the pair subsequently consolidated at 0.8051, falling 1.76%.<br /><br />The pair was likely to find support at 0.8000 … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


European Stocks Retreat On U.S. Default Fears; DAX Down 0.2%

Posted: 25 Jul 2011 02:10 AM PDT

Forexpros – European stock markets were broadly lower on Monday, as shares in the financial sector came under selling pressure amid fears over a possible U.S. sovereign debt default and after Greece&rsquo;s credit rating was downgraded. <br /><br />During European morning trade, the EURO STOXX 50 slumped 0.75%, France&rsquo;s CAC 40 shed 0.55%, while Germany&rsquo;s DAX 30 dipped 0.2%. <br /><br />With time running out, talks between Democrats and … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Forex – Dollar Broadly Lower As Swiss Franc, Yen Surge

Posted: 25 Jul 2011 01:39 AM PDT

Forexpros – The U.S. dollar was broadly lower against its major counterparts on Monday, as safe havens such as the Swiss franc and the yen surged, boosted by mounting fears over a U.S. default as talks on raising the U.S. debt ceiling remained deadlocked.<br /><br />During European morning trade, the greenback slipped against the euro, with EUR/USD easing up 0.16% to hit 1.4382.<br /><br />Earlier Monday, ratings agency Moody’s cut Greece&rsquo;s sovereign debt … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


U.K. BBA Mortgage Approvals Rise More-than-expected

Posted: 25 Jul 2011 01:38 AM PDT

Forexpros – Mortgage approvals in the U.K. rose more-than-expected in June, industry data showed on Monday. <br /><br />In a report, the British Banker’s Association said that the number of new mortgages approved in June rose to 31.7K, above expectations for 31.3K. <br /><br />The previous month&rsquo;s figure was revised up to 30.8K from a previously reported 30.5K.&nbsp; <br /><br />Following the release of that data, the pound was up against the … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Crude Oil Retreats From Six-week High On U.S. Debt Woes

Posted: 25 Jul 2011 01:26 AM PDT

Forexpros – Crude oil futures were down on Monday, retreating from a six-week high as fears over a possible U.S. sovereign debt default raised concerns over the short-term energy demand outlook from the world&rsquo;s largest oil consumer.&nbsp; <br /><br />On the New York Mercantile Exchange, light, sweet crude futures for delivery in September traded at USD98.96 a barrel during European morning trade, shedding … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Forex – GBP/USD Lower As U.S. Debt Talks Weigh On Market

Posted: 25 Jul 2011 01:02 AM PDT

Forexpros – The pound was slightly lower against the U.S. dollar on Monday, as concerns over a possible U.S. default mounted after debt talks between President Barack Obama and congressional leaders broke down over the weekend.<br /><br />GBP/USD hit 1.6270 during early European trade, the daily low; the pair subsequently consolidated at 1.6293, dipping 0.04%.<br /><br />Cable was likely to find support at 1.6120, the low of July 21 and resistance at 1.6382, the high … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Gold Futures Rally To New Record High On U.S. Debt Worries

Posted: 25 Jul 2011 12:55 AM PDT

Forexpros – Gold futures rallied to a fresh record high on Monday, as a lack of progress over raising the U.S. debt ceiling ahead of a looming deadline raised fears over a possible U.S. sovereign debt default, boosting demand for safe haven assets.&nbsp;&nbsp; <br /><br />On the Comex division of the New York Mercantile Exchange, gold futures for October delivery traded at USD1,619.45 a troy ounce during late Asian trade, jumping … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Forex – USD/JPY Touches Four-month Low On Debt Fears

Posted: 25 Jul 2011 12:44 AM PDT

Forexpros – The U.S. dollar slipped to a four-month low against the yen on Monday, weighed by mounting fears over a U.S. default or downgrade as talks on rising the U.S. debt ceiling remained at an impasse.<br /><br />USD/JPY hit 78.4 during late Asian trade, the pair&rsquo;s lowest since March 17; the pair subsequently consolidated at 78.26, shedding 0.35%.<br /><br />The pair was likely to find support at 77.09, the low of March 17 and resistance at 79.02, last … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Forex – NZD/USD Slips But Supported By Rate Expectations

Posted: 25 Jul 2011 12:32 AM PDT

Forexpros – The New Zealand dollar dipped against its U.S. counterpart on Monday, but remained well supported close to the pair&rsquo;s post-float high amid expectations for a near-term rate hike by the Reserve Bank.<br /><br />NZD/USD hit 0.8617 during late Asian trade, the daily low; the pair subsequently consolidated at 0.8628, slipping 0.20%.<br /><br />The pair was likely to find support at 0.8537, last Thursday&rsquo;s low and short-term resistance at … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Forex – AUD/USD Slips As U.S. Debt Impasse Weighs Risk Appetite

Posted: 25 Jul 2011 12:18 AM PDT

Forexpros – The Australian dollar was lower against its U.S. counterpart on Monday, as negotiations aimed at raising the U.S. debt ceiling appeared to have reached an impasse, adding to fears over a possible U.S. default.<br /><br />AUD/USD hit 1.0805 during late Asian trade, the pair&rsquo;s lowest since Thursday; the pair subsequently consolidated at 1.0803, shedding 0.49%.<br /><br />The pair was likely to find support at 1.0692, last Thursday&rsquo;s low … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Asia Stocks Drop On U.S. Debt Fears; Nikkei Down 0.8%

Posted: 24 Jul 2011 11:52 PM PDT

Forexpros – Asian stock markets were broadly lower on Monday, as a lack of progress over raising the U.S. debt ceiling before a looming deadline raised fears over a possible U.S. sovereign debt default, prompting investors to shun riskier assets.<br /><br />During late Asian trade, Hong Kong’s Hang Seng Index fell 0.85%, Australia&rsquo;s ASX/200 Index sank 1.5%, while Japan&rsquo;s Nikkei 225 Index retreated 0.81%.&nbsp;&nbsp;&nbsp; <br /><br … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Forex – EUR/USD Edges Higher As U.S. Debt Deadlock Weighs

Posted: 24 Jul 2011 11:37 PM PDT

Forexpros – The euro inched higher against the U.S. dollar on Monday, as talks on raising the U.S. debt ceiling remained deadlocked, with negotiators facing a possible U.S. default in nine days. <br /><br />EUR/USD hit 1.4418 during late Asian trade, the daily high; the pair subsequently consolidated at 1.4379, easing up 0.15%.<br /><br />The pair was likely to find support at 1.4168, last Thursday&rsquo;s low and short-term resistance at 1.4465, the high of July … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Singapore Stock Market Update For Monday 25 July

Posted: 24 Jul 2011 11:21 PM PDT

Investors sell down shares after failure to get a US debt deal over the weekend, though the drops aren’t extreme, as analysts say a US ratings downgrade is a greater concern.

Market pull back after 4 up sessions. We deem this as a pullback and will wait for the pullback to be over to resume its upward momentum.

Banks break above psychological levels. The new-found optimism on last Friday has taken some key blue chip names past their psychological levels. They are UOB (above $20), DBS (above … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Momentum Stock: Complete Production Services, Inc.

Posted: 24 Jul 2011 11:05 PM PDT

Complete Production Services, Inc. (NYSE:CPX) just jumped into a new all-time high after reporting awesome Q2 results that came in well ahead of expectations. With estimates on the rise and a bullish growth projection, this Zacks #1 rank stock has some serious momentum.
Company Description
Complete Production Services, Inc. operates as an oil-field services provider primarily in North America. The company was founded in 2001 and has a market cap of $3.16 billion.
CPX has been trending higher for … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Bear Of The Day: The Travelers Companies (TRV)

Posted: 24 Jul 2011 11:05 PM PDT

The Travelers Companies (NYSE:TRV) second quarter was hurt by huge catastrophe losses. The company reported a wider loss in the quarter than the Zacks Consensus Estimate. We expect the rate of premium growth to stay restricted and underwriting margins to remain under pressure.
Also, potential reserve additions for asbestos liabilities present another risk. Further, exposure to significant catastrophic events remains a concern.
Our six-month target price of $52.00 equates to 12.2x our earnings … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Bull Of The Day: Watson Pharmaceuticals (WPI)

Posted: 24 Jul 2011 11:05 PM PDT

Based on its first quarter performance and increased guidance, we are upgrading Watson Pharmaceuticals (NYSE:WPI) to Outperform. The company posted first-quarter 2011 earnings of $0.89 per share, beating the Zacks Consensus Estimate by $0.03 and the year-ago earnings by $0.08 per share. Revenues increased 2% to $876.5 million, mainly driven by higher generics sales.
Watson Pharma increased its 2011 earning guidance range to $3.95 – $4.20 per share from $3.85 – $4.15 per share. Following the … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Growth & Income Stock: Abbott Laboratories

Posted: 24 Jul 2011 11:05 PM PDT

Abbott Laboratories (NYSE:ABT) reported better than expected results for the second quarter on July 20. Strong emerging market sales helped drive EPS up 11% to $1.12, beating the Zacks Consensus Estimate by a penny.
Management raised its guidance for the remainder of 2011, prompting analysts to revise their estimates higher. This sent the stock to a Zacks #2 Rank (Buy).
Abbott also pays a dividend that yields a very solid 3.7%. With an incredible track record of consecutive dividend payments and … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Aggressive Growth Stock: Dell Inc.

Posted: 24 Jul 2011 11:05 PM PDT

Dell Inc. (NASDAQ:DELL) is currently a Zacks #1 Rank (Strong Buy) thanks to a strong earnings history and rising estimates.
Despite its well known name, the stock remains overlooked and undervalued even has earnings hit 5-year highs.
Company Description
Dell Inc. offered integrated tech solutions for the IT industry. They also make desktop PCs, laptops, tablets and smartphones.
It’s true, there are other companies besides Apple (NASDAQ:AAPL) in this industry. Apple is great, but it has led to others, … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Forex – EUR/USD Up During The Asian Session

Posted: 24 Jul 2011 10:40 PM PDT

Forexpros – The Euro was higher against the U.S. Dollar on Monday.<br/><br/> EUR/USD was trading at 1.4362, up 0.03% at time of writing.<br/><br/> The pair was likely to find support at 1.4134, Wednesday&rsquo;s low, and resistance at 1.4438, Friday&rsquo;s high.<br/><br/> Meanwhile, the Euro was up against the British Pound and down against the Japanese Yen, with EUR/GBP gaining 0.04% to hit 0.8812 and EUR/JPY falling 0.05% to hit … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Forex – GBP/USD Down In Asian Trade

Posted: 24 Jul 2011 10:15 PM PDT

Forexpros – The British Pound was lower against the U.S. Dollar on Monday.<br/><br/> GBP/USD was trading at 1.6288, down 0.07% at time of writing.<br/><br/> The pair was likely to find support at 1.6070, Wednesday&rsquo;s low, and resistance at 1.6345, Monday&rsquo;s high.<br/><br/> Meanwhile, the British Pound was down against the Euro and the Japanese Yen, with EUR/GBP gaining 0.09% to hit 0.8816 and GBP/JPY falling 0.18% to hit … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Forex – EUR/CHF Down In Asian Trading Hours

Posted: 24 Jul 2011 09:50 PM PDT

Forexpros – The Euro was lower against the Swiss Franc on Monday.<br/><br/> EUR/CHF was trading at 1.1688, down 0.62% at time of writing.<br/><br/> The pair was likely to find support at 1.1607, Wednesday&rsquo;s low, and resistance at 1.1891, Friday&rsquo;s high.<br/><br/> Meanwhile, the Euro was up against the U.S. Dollar and the Japanese Yen, with EUR/USD gaining 0.12% to hit 1.4375 and EUR/JPY rising 0.05% to hit … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Forex – USD/CHF Down During The Asian Session

Posted: 24 Jul 2011 09:20 PM PDT

Forexpros – The U.S. Dollar was lower against the Swiss Franc on Monday.<br/><br/> USD/CHF was trading at 0.8128, down 0.85% at time of writing.<br/><br/> The pair was likely to find support at 0.8118, Monday&rsquo;s low, and resistance at 0.8256, Wednesday&rsquo;s high.<br/><br/> Meanwhile, the U.S. Dollar was down against the Euro and the Japanese Yen, with EUR/USD gaining 0.16% to hit 1.4381 and USD/JPY falling 0.20% to hit … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Reversal Of Fortune: Amazon Vs. Borders

Posted: 24 Jul 2011 09:04 PM PDT

In early January 2002, Borders stock was selling at $21.48 per share, more than twice the price of Amazon shares at $10.16 (see chart above).  Now Amazon is selling for $216.52 and Borders is selling for … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Forex – EUR/GBP Up In Asian Trade

Posted: 24 Jul 2011 09:00 PM PDT

Forexpros – The Euro was higher against the British Pound on Monday.<br/><br/> EUR/GBP was trading at 0.8822, up 0.16% at time of writing.<br/><br/> The pair was likely to find support at 0.8763, Thursday&rsquo;s low, and resistance at 0.8854, Friday&rsquo;s high.<br/><br/> Meanwhile, the Euro was up against the U.S. Dollar and down against the Japanese Yen, with EUR/USD gaining 0.15% to hit 1.4380 and EUR/JPY falling 0.04% to hit … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Forex – USD/JPY Down In Asian Trading Hours

Posted: 24 Jul 2011 08:35 PM PDT

Forexpros – The U.S. Dollar was lower against the Japanese Yen on Monday.<br/><br/> USD/JPY was trading at 78.39, down 0.20% at time of writing.<br/><br/> The pair was likely to find support at 78.14, Monday&rsquo;s low, and resistance at 79.32, Wednesday&rsquo;s high.<br/><br/> Meanwhile, the U.S. Dollar was down against the Euro and up against the British Pound, with EUR/USD gaining 0.11% to hit 1.4374 and GBP/USD falling 0.04% to hit … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Forex – USD/CAD Up During The Asian Session

Posted: 24 Jul 2011 08:10 PM PDT

Forexpros – The U.S. Dollar was higher against the Canadian Dollar on Monday.<br/><br/> USD/CAD was trading at 0.9518, up 0.40% at time of writing.<br/><br/> The pair was likely to find support at 0.9424, Thursday&rsquo;s low, and resistance at 0.9530, Friday&rsquo;s high.<br/><br/> Meanwhile, the U.S. Dollar was down against the Euro and up against the British Pound, with EUR/USD gaining 0.15% to hit 1.4380 and GBP/USD falling 0.02% to hit … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Aussie PPI Jumps, But Fails To Impact Markets; Sets The Stage For CPI

Posted: 24 Jul 2011 07:55 PM PDT

Fundamental Event:
Australian producer prices climbed 0.8% in the 2nd quarter compared to the 1st, and was up 3.4% compared to the 1Q in 2010.
Producer prices rose at a faster quarterly pace in the 1st quarter – at 1.2% – but the annual rate pushed up 3.4% from the 1st quarter's reading of 2.9%.
That change was widely expected, and therefore has so far had a muted reaction in currency markets.
Impact on Markets:
The AUD/USD pair falls back from its highs set later Friday at 1.08874, and … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Forex – AUD/USD Down In Asian Trade

Posted: 24 Jul 2011 07:30 PM PDT

Forexpros – The Australian Dollar was lower against the U.S. Dollar on Monday after the release of Australian data on PPI.<br/><br/> AUD/USD was trading at 1.0835, down 0.22% at time of writing.<br/><br/> The pair was likely to find support at 1.0695, Thursday&rsquo;s low, and resistance at 1.0875, Friday&rsquo;s high.<br/><br/> Earlier in the day, official data showed that Australian producer price inflation rose more-than-expected to a seasonally … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Forex – GBP/CHF Down In Asian Trading Hours

Posted: 24 Jul 2011 07:10 PM PDT

Forexpros – The British Pound was lower against the Swiss Franc on Monday.<br/><br/> GBP/CHF was trading at 1.3262, down 0.76% at time of writing.<br/><br/> The pair was likely to find support at 1.3201, Wednesday&rsquo;s low, and resistance at 1.3441, Friday&rsquo;s high.<br/><br/> Meanwhile, the British Pound was up against the U.S. Dollar and down against the Euro, with GBP/USD gaining 0.02% to hit 1.6303 and EUR/GBP rising 0.26% to hit … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Forex – AUD/USD Down On Economic Data

Posted: 24 Jul 2011 06:45 PM PDT

Forexpros – The Australian Dollar was lower against the U.S. Dollar on Monday after the release of Australian data on PPI.<br/><br/> AUD/USD was trading at 1.0832, down 0.25% at time of writing.<br/><br/> The pair was likely to find support at 1.0695, Thursday&rsquo;s low, and resistance at 1.0875, Friday&rsquo;s high.<br/><br/> Earlier in the day, official data showed that Australian producer price inflation rose more-than-expected to a seasonally … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Australian Producer Price Inflation Rises More-than-expected

Posted: 24 Jul 2011 06:45 PM PDT

Forexpros – Australian producer price inflation rose more-than-expected in the last quarter, official data showed on Monday.<br/><br/> In a report, the Australian Bureau of Statistics said that PPI rose to a seasonally adjusted 0.8%, from 1.2% in the preceding quarter.<br/><br/> Analysts had expected PPI to rise 0.5% last … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Bill Gates On The World Energy Crisis

Posted: 24 Jul 2011 06:36 PM PDT

From an interview with Bill Gates by Wired Editor Chris Anderson: 

Q: When you look at the big picture, where should we be focusing besides nuclear? On massive solar plants in the desert? On middle-size stuff for office roofs? Or is there a reinvention that could be done right in the home?

Bill Gates: If you're going for cuteness, the stuff in the home is the place to go. It's really kind of cool to have solar panels on your roof. But if you're really interested in the energy … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Forex – EUR/USD Up During The Asian Session

Posted: 24 Jul 2011 06:35 PM PDT

Forexpros – The Euro was higher against the U.S. Dollar on Monday.<br/><br/> EUR/USD was trading at 1.4394, up 0.25% at time of writing.<br/><br/> The pair was likely to find support at 1.4134, Wednesday&rsquo;s low, and resistance at 1.4438, Friday&rsquo;s high.<br/><br/> Meanwhile, the Euro was up against the British Pound and the Japanese Yen, with EUR/GBP gaining 0.22% to hit 0.8827 and EUR/JPY rising 0.04% to hit … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


AEI’s Arthur Brooks On The Debt Ceiling In The WSJ

Posted: 24 Jul 2011 06:22 PM PDT

From AEI President Arthur Brooks in the WSJ:

“Budget reformers need to remember three things. First, this is not a political fight between Republicans and Democrats; it is a fight against 50-year trends toward statism. Second, it is a moral fight, not an economic one. Third, this is not a fight that anyone can win in the 15 months from now to the presidential election. It will take hard work for at least a decade.

Consider a few facts. The Bureau of Economic Analysis tells us that total … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Forex – USD/JPY Down In Asian Trading Hours

Posted: 24 Jul 2011 06:00 PM PDT

Forexpros – The U.S. Dollar was lower against the Japanese Yen on Monday.<br/><br/> USD/JPY was trading at 78.43, down 0.14% at time of writing.<br/><br/> The pair was likely to find support at 78.14, Monday&rsquo;s low, and resistance at 79.32, Wednesday&rsquo;s high.<br/><br/> Meanwhile, the U.S. Dollar was down against the Euro and the British Pound, with EUR/USD gaining 0.17% to hit 1.4383 and GBP/USD rising 0.01% to hit … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Forex – EUR/JPY Down In Asian Trade

Posted: 24 Jul 2011 05:25 PM PDT

Forexpros – The Euro was lower against the Japanese Yen on Monday.<br/><br/> EUR/JPY was trading at 112.64, down 0.11% at time of writing.<br/><br/> The pair was likely to find support at 111.47, Thursday&rsquo;s low, and resistance at 113.57, Friday&rsquo;s high.<br/><br/> Meanwhile, the Euro was up against the U.S. Dollar and the British Pound, with EUR/USD gaining 0.03% to hit 1.4362 and EUR/GBP rising 0.07% to hit … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


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