Monday, July 11, 2011

DailyMarkets.com - Gap Reports June Comps

DailyMarkets.com - Gap Reports June Comps

Gap Reports June Comps

Posted: 11 Jul 2011 08:05 AM PDT

The Gap Inc. (NYSE:GPS) reported a nominal 1% increase in same-store sales for the five-week period ended July 3, 2010.
Results came in line with the 1% growth registered in June 2010.
The growth in same-store sales stemmed from International and Banana Republic North America reporting a 3% increase each, while Old Navy North America posting a 2% rise. However, Gap North America slipped 1%.
The company reported net sales of $1.38 billion in June 2011, compared with $1.31 billion in the year-ago … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Bank Failures Zoom To 51

Posted: 11 Jul 2011 08:05 AM PDT

Following a week's lull, U.S. regulators were back in action last week, shuttering three more banks.
Out of these three banks, two were based in Colorado and one in Illinois. These closures have pushed the number of failed U.S. banks to 51 so far in 2011.
Looking back, there were 157 bank failures in 2010, 140 in 2009 and 25 in 2008.
While the financials of bigger banks have been stabilizing on the back of an economic recovery, many smaller banks are still struggling to survive. Nagging … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Shaw Communications Remains Neutral

Posted: 11 Jul 2011 08:05 AM PDT

We are maintaining our Neutral recommendation on Shaw Communications Inc. (NYSE:SJR), a leading provider of broadband cable television and Direct-to-home (DTH) satellite services in the U.S and Canada, based on strong third quarter 2011 results where both the top line and bottom line beat the Zacks Consensus Estimate.
Shaw Communications acquired a 100% stake in the over-the-air and specialty television businesses of Canwest Global Communications Corp. ("Canwest") for approximately $2 billion. … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Earnings Preview: Fastenal Co.

Posted: 11 Jul 2011 08:04 AM PDT

Fastenal Co. (NASDAQ:FAST) is scheduled to release its second quarter 2011 results before the market opens on July 12, 2011.
Fastenal earned a profit of 54 cents per share in the first quarter, which was higher than the Zacks Consensus Estimate of 51 cents per share.
For the upcoming quarter, the Zacks Consensus Estimate is 31 cents per share, which reflects an annualized improvement of 30%.
With respect to earnings surprises, the company beat the Zacks Consensus Estimate in two of the last four … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Kimco Acquires Assets

Posted: 11 Jul 2011 08:04 AM PDT

Kimco Realty Corporation (KIM) recently acquired three shopping centers totaling 595,000 square feet for approximately $75.5 million, including $43.4 million in mortgage debt. The acquired shopping centers are Independence Plaza, Garden State Pavilions and Village Shoppes of Flowery Branch, located in New York, New Jersey and Georgia, respectively.
Additionally, Kimco converted its equity interest in 6 shopping centers spanning 638,000 square feet into a joint venture where the company holds a … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Buckle’s June Sales Up

Posted: 11 Jul 2011 08:04 AM PDT

The Buckle Inc. (NYSE:BKE) reported net sales of $79.6 million in June 2011, which increased 15.2% from $69.2 million in June 2010.
The company's comparable store sales also went up 10.8% in the same period.  
Total sales for the men's side of business leaped 16.5% year over year and represented 43% of total sales for the month, versus approximately 42.5% in June last year.  Sales from the women side of business accounted for 57% of total sales, against 57.5% in the year-earlier … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Cemig On An Acquisition Spree

Posted: 11 Jul 2011 08:04 AM PDT

Companhia Energetica de Minas Gerais (NYSE:CIG), also known as CEMIG recently acquired an additional 13.03% interest in Light S.A., thereby holding roughly 52% interest in the latter. Light S.A. is an affiliate company of Cemig.
 The indirect acquisition took place as Cemig's affiliate company Parati S.A. acquired a 100% stake of Luce LLC from Enlighted Partners Venture Capital for approximately  R$515.94 million or US$331.8 million. Luce LLC owns roughly 75% units of FIP Luce, which … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

EA To Ship New Adventure Pack

Posted: 11 Jul 2011 07:35 AM PDT

Video game developer and publisher, Electronic Arts Inc. (ERTS), better known as EA, announced that its new adventure game The Sims Medieval: Pirates and Nobles will be available in stores from August 2011.
Developed by The Sims Studio, the first adventure pack to The Sims Medieval will run only on personal computers and Apple Inc.'s (AAPL) Macintosh computers.
The new adventure pack introduces players to new quests, treasure hunting, and hundreds of new objects for their medieval … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Qiagen Hikes Cellestis’ Offer Price

Posted: 11 Jul 2011 07:35 AM PDT

Qiagen (NASDAQ:QGEN) recently increased its offering to the shareholders of Cellestis Limited (CST) in a bid to acquire this Australia-based biotechnology company. As per the updated terms of the deal, Qiagen increased the offer price by 7% from the original offer price of $3.69 (A$3.55), announced on April 4, 2011, to $4.06 (A$3.80) per share.
The revised offer price represents a 33.1% premium to the one-month volume-weighted average price (VWAP) of the last trading day's (April 1, 2011) share … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

So Much For A Stronger Jobs Report!

Posted: 11 Jul 2011 07:18 AM PDT

Today’s Idea Monday, July 11, 2011
Friday’s “reversal” day in the daily chart for the September E-mini S&P futures may have taken the steam out of the nearly 100-point rally we have seen since the end of June. Some traders expecting Friday’s high of 1354.50 to hold, at least for the next several days, may wish to explore selling calls in E-mini S&P futures options. For example, with the September futures trading at 1341.50 as of this writing, the July 1360 calls could be sold for about … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Canadian Dollar: Key ST Resistance At 993

Posted: 11 Jul 2011 07:17 AM PDT

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

Australian Dollar: The Downside Prevails

Posted: 11 Jul 2011 07:17 AM PDT

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

Costco Sustains Double-Digit Growth

Posted: 11 Jul 2011 06:55 AM PDT

Costco Wholesale Corporation (NASDAQ:COST), one of the leading U.S. warehouse club operators, recently posted strong sales data for the five-week period ended July 03, 2011.
The company has been able to sustain double-digit growth in sales. After an increase of 13% in May 2011, Costco's comparable-store sales for June rose 14%, reflecting comparable sales growth of 12% at its U.S. locations and 18% at its international divisions. For the forty-four week period ended July 03, 2011, the company … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Cooper Penetrates Further In Brazil

Posted: 11 Jul 2011 06:55 AM PDT

Cooper Power Systems, a division of Cooper Industries plc (NYSE:CBE), will be expanding in Brazil through a planned investment of $25 million. The company will build a production facility outside Sao Paulo in Porto Feliz. The new LEED Platinum-certified building complements Cooper Industries' present operations in Itu and Sorocaba.
Brazil provides good investment prospects for Cooper Industries due to strong economic growth, continuous infrastructure investment, and impending major international … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Crude Oil Futures Extend Losses On Euro Zone Contagion Fears

Posted: 11 Jul 2011 06:54 AM PDT

Forex Pros – pros &ndash; Crude oil futures were down sharply on Monday, slumping to a six-day low as concerns that the euro zone&rsquo;s sovereign debt crisis would spread to the region&rsquo;s core economies prompted investors to shun riskier assets. <br /><br />On the New York Mercantile Exchange, light, sweet crude futures for delivery in August traded at USD94.94 a barrel during U.S. morning trade, retreating … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex Trading: EUR/USD Breaks Down Triangle To Approach Key 1.4000 Support

Posted: 11 Jul 2011 06:46 AM PDT

EUR/USD (daily chart) as of Monday (7/11/2011) has continued its significant bearishness from last week by breaking down decisively below a large symmetrical triangle consolidation pattern that has been in place since the May 1.4940 high. This swift and substantial breakdown has now approached, by just about 25 pips as of this writing, a key confluence of support around the very important 1.4000 price region. Price, therefore, is currently at a critical juncture. This support confluence … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Debt Quagmire Sucks Euro Below June Lows Against Dollar

Posted: 11 Jul 2011 06:45 AM PDT

Two weekend press articles weighed heavily on the seemingly endless summer drought of positive news for the European economic region causing speculators to push the single currency through its June panic low and towards its weakest since May. The fact that the situation is spreading beyond the desperate hunt for a solution for Greece now has investors honing their attention back to the possibility that more powerful peripheral countries are in danger of default. Having kicked the can down the … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Stock Market News Briefs: Bank Of America, Citigroup, Caterpillar, Deutsche Bank AG, General Motors, Google, J P Morgan Chase & Co, Local.com, Steel Dynamics, Target, Wells Fargo & Company, Ixia

Posted: 11 Jul 2011 06:35 AM PDT

    Local.com Corp. (NASDAQ:LOCM) entered into a Google Services Agreement with Google Inc. (NASDAQ:GOOG)

    Bank of America Corporation (NYSE:BAC), Deutsche Bank AG (NYSE:DB) and JPMorgan Chase & Co. (NYSE:JPM) were picked by Living Social as lead underwriters for their IPO

    General Motors Company (NYSE:GM) announced that it will be offering auto insurance completely free of charge, for a year, to customers who buy or lease a car

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

Jury Orders Apple To Pay $8M

Posted: 11 Jul 2011 06:35 AM PDT

In yet another patent infringement suit, Apple Inc. (NASDAQ:AAPL) has been ordered by a federal jury in Eastern Texas to pay $8 million in damages to Personal Audio LLC, according to Bloomberg. Personal Audio, a Texas based patent licensing company, had claimed $84 million in damages for the patent infringement.
In 2009, Personal Audio had sued Apple, Sirius XM Radio, Archos, and Coby Electronics for infringement of two of its patents that covered an audio player. The audio player could download a … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex – USD/CAD Extends Gains As Crude Oil Drops

Posted: 11 Jul 2011 06:29 AM PDT

Forex Pros – pros &ndash; The U.S. dollar extended gains against its Canadian counterpart on Monday, advancing to a three-day high as crude oil, Canada&rsquo;s largest export, tumbled as fears over sovereign debt contagion in the euro zone hit demand for riskier assets.<br /><br />USD/CAD hit 0.9696 during early U.S. trade, the pair&rsquo;s highest since July 6; the pair subsequently consolidated at 0.9684, climbing 0.63%.<br /><br />The pair was likely to … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Euro Plunges In Overnight On Greek, Italian Debt Concerns

Posted: 11 Jul 2011 06:24 AM PDT

The European Euro fell to a record low against the Swiss Franc in the Asian and European sessions as fears of contagion continued to spread, despite recent efforts by Euro-zone finance ministers to calm capital markets. The EUR/CHF pair fell to an all-time low of 1.1693 just before 12:30 GMT, as news emerged that the European Central Bank was seeking permission to expand an emergency loan fund that would need to be nearly doubled in size in order to support Italy.
Italian bonds plummeted on the … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex Trading: Euro Finance Chiefs Sign Treaty To Create ESM In July 2013

Posted: 11 Jul 2011 06:20 AM PDT

700 billion of Euros in European Stability Mechanism which will provide loans to debt hit countries as of mid 2013. The EU countries must agree to the ESM and the … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Swiss Franc: The Downside Prevails

Posted: 11 Jul 2011 06:17 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: 11 Jul 2011 06:17 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: 11 Jul 2011 06:17 AM PDT

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

British Pound: Under Pressure

Posted: 11 Jul 2011 06:17 AM PDT

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

Morning Market Brief

Posted: 11 Jul 2011 06:15 AM PDT

07/11/11 In-depth coverage of daily money market movements containing technical analysis and detailed forecasts into particular currency pairs; reported directly from the floor of the … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex Trading: EURUSD Keeps The Bears In Charge

Posted: 11 Jul 2011 06:11 AM PDT

Correcttions within a trend that hold the 38.2% of most recent legs, tend to keep the trend traders in charge.  The EURUSD just corrected just short of the 38.2% of the last leg down, and reversed course when the pair failed to extend above the level (at 1.4066).   This does not necessarily mean that the pair will make new lows, it just keeps the burden on the buyers to push the market higher – through … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex Trading: USDJPY Dips Below Channel Trendline

Posted: 11 Jul 2011 06:06 AM PDT

The USDJPY dipped below the channel trendline that has kept the pair contained over the last month of trading. The level comes in at the 80.41 level. The low reached 80.31.  The bias shifts to the downside on the break for the pair. A move back in the channel negates some of the bearishness. Overall, the USDJPY has been mired in a narrow trading range and searches for a trend.  Activity remains focused on other currencies … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Polycom Downgraded To Neutral

Posted: 11 Jul 2011 06:01 AM PDT

We downgrade our recommendation on Polycom Inc. (NASDAQ:PLCM) to Neutral ahead of its second-quarter 2011 financial results, solely based on its current valuation.The stock price has soared 155% last year. We believe Polycom is fairly valued at present.
Nevertheless, despite facing competitive pressure from Cisco Systems Inc. (NASDAQ:CSCO), which acquired Tandberg TV, Polycom's high-margin Network Infrastructure Systems businesses grew 25% in the previous quarter. Strong momentum of the Network … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Precision To Acquire Primus

Posted: 11 Jul 2011 06:01 AM PDT

Precision Castparts Corporation (NYSE:PCP) entered into an agreement to acquire Primus International (Primus), a renowned provider of complex components and assemblies to the global aerospace industry, including swaged rods, advanced composites, and machined aluminum and titanium components. Employing about 1500 people, Primus has seven manufacturing locations with its headquarter in Bellevue, Washington. The closing of the deal is subjected to regulatory approvals.
The acquisition is scheduled to … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Another Generic Launch By RDY

Posted: 11 Jul 2011 06:01 AM PDT

Dr. Reddy's Laboratories (NYSE:RDY) recently announced the launch of generic version of Novartis AG's (NYSE:NVS) blood pressure drug, Lotrel, in the US.
Dr Reddy's abbreviated new drug application (ANDA) for the generic version of Lotrel (amlodipine besylate and benazepril hydrochloride capsules; 5 mg/40 mg and 10 mg/40 mg), was approved by the US Food and Drug Application (FDA) on July 5, 2011.
According to IMS Health, total US sales of Lotrel amounted to $290 million for the twelve months … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex – Weaker Euro Tumbles To Record Low Vs. Swiss Franc

Posted: 11 Jul 2011 05:44 AM PDT

Forex Pros – pros &ndash; The broadly weaker euro tumbled to a record low against the Swiss franc on Monday, as the cost of insuring Italian government debt against default soared to a euro-lifetime high, amid concerns that the region&rsquo;s sovereign debt crisis could spread from Greece.<br /><br />EUR/CHF hit 1.1694 during European afternoon trade, the pair&rsquo;s lowest level since the launch of the single currency in 1999; the pair subsequently consolidated at … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

EUR/CHF: Fresh Record Lows Projected To 1.1520

Posted: 11 Jul 2011 05:39 AM PDT

Prev: EUR/CHF Range Bound Scenario (7/6)
EUR/CHF

- EUR/CHF is hammering out new record lows AGAIN. The range-bound scenario was quickly invalidated as the market accelerated downwards on concerns of debt contagion.
- The 4H chart shows extended fibonacci retracement, or extension targets, with 150% near 1.1530, and 161.8% near 1.1470. 1.15 could be the psychological support level here in uncharted territory.
- In the daily chart, the inability to break back above in to the previous channel … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

U.S. Futures Sink On EU Contagions Fears; Dow Drops 1%

Posted: 11 Jul 2011 05:32 AM PDT

Forex Pros – pros &ndash; U.S. stock futures pointed to a sharply lower open on Monday, as sentiment was weighed by mounting fears that the euro zone&rsquo;s sovereign debt crisis could spread to Italy from Greece. <br /><br />Dow Jones Industrial Average futures pointed to a decline of 1%, the S&amp;P 500 futures dropped 1.4%, while Nasdaq 100 futures sank 1.3%.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br /><br />Officials from the European … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex Trading: EURUSD Scrapes Along 5 Minute Channel Support

Posted: 11 Jul 2011 05:25 AM PDT

The EURUSD is scraping along the bottom of a 5 minute channel support. The current level comes in at the the 1.4048 area.  A move below should lead to further downside momentum for the pair. Watch this support.
The low from May 25th comes in at 1.4013. Below that the low from May come in at … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Excel Maritime Revert To Neutral

Posted: 11 Jul 2011 05:25 AM PDT

We upgrade our recommendation on Excel Maritime Carriers Ltd. (NYSE:EXM) to Neutral based on its current valuation, which plummeted by nearly 52%  last year. Furthermore, we believe the drybulk shipping rates will increase in the second half of 2011 attributable to a surge in demand for coal in Japan. Recently, the company has improved its time-charter contracts that will help its cash flow to be stable.
Excel Maritime has improved and consolidates the time charter contracts for its … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

GOL Acquires Rival, Eyes Expansion

Posted: 11 Jul 2011 05:25 AM PDT

Brazilian Airline, Gol Linhas Aereas Inteligentes SA (NYSE:GOL) announced the acquisition of its rival, Webjet Linhas Aereas SA, a low-cost carrier based in Rio de Janeiro, for R$96 million ($61.53 million). According to the regulatory filing, the constituent parts of the airline have been valued at a total of R$310.7 million. The company agreed to assume Webjet’s debt and stated that the acquisition price is subject to change.
According to Brazil's aviation authority, GOL's market share fell … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Canada Housing Starts Rise Unexpectedly In June

Posted: 11 Jul 2011 05:22 AM PDT

Forex Pros – pros &ndash; Canadian housing starts rose unexpectedly in June, official data showed on Monday. <br /><br />In a report, the Canada Mortgage and Housing Corporation said that the seasonally adjusted annual rate of housing starts rose to 197,000 units in June, confounding expectations for a decline to 182,000 units.<br /><br />The previous month&rsquo;s figure was revised up to 194,000 units from a previously reported 184,000. <br /><br … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex – Dollar Broadly Higher As Debt Woes Punish Euro

Posted: 11 Jul 2011 05:09 AM PDT

Forex Pros – pros &ndash; The U.S. dollar remained broadly higher against all of its major counterparts on Monday, while safe haven demand also boosted the yen and the Swiss franc as European Union officials prepared to meet amid fears over sovereign debt contagion in the euro zone.<br /><br />During European afternoon trade, the greenback was sharply higher against the euro, with EUR/USD tumbling 1.42% to hit 1.4059.<br /><br />Senior EU officials, including … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

USD/CAD: Impulse Wave Structure Suggests The Double Bottom Attempt Is An Expanded Flat

Posted: 11 Jul 2011 05:07 AM PDT

USD/CAD

- The USD/CAD appears to be in a double bottom attempt seen in the 4H chart. The RSI has a bullish divergence, and the reading is also pushing above 60, invalidating the bearish momentum established during the dip last week.
- While it does reflect consolidation/ correction, it may not necessarily lead to a reversal.
- When looking at the decline, we see a clear 5-wave structure going down to 0.9577, where wave (3) is clearly the strongest.
- In impulse wave structure suggests that … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex – GBP/USD Nears 5-month Low, Tracking Euro Lower

Posted: 11 Jul 2011 04:52 AM PDT

Forex Pros – pros &ndash; The pound extended losses against the U.S. dollar on Monday, tracking the euro lower as senior euro zone officials prepared to meet amid concerns that the region’s sovereign debt crisis could spread to Italy.<br /><br />GBP/USD hit 1.5937 during European afternoon trade, the daily low; the pair subsequently consolidated at 1.5943, dropping 0.70%.<br /><br />The pair was likely to find short-term support at 1.5910, the low of June 28 and a … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

EUR/GBP: 0.8845 Cluster Broken; 0.8720 And 0.8665 Are In Sight

Posted: 11 Jul 2011 04:19 AM PDT

Prev: EUR/GBP to Test a Support Cluster at 0.8845 (7/7)
EUR/GBP

- The EUR/GBP is breaking below a support zone near 0.8845. The 4H chart gives many clues for the bearish scenario. The channel support, 200SMA were crossed, and the RSI crossed down below 30, confirmation bearish momentum, although there is still a chance this is a "clear-out".
- A pullback should not break back above 0.8890, if it is to maintain the bearish breakout.
- The bearish target for the breakout is the 0.8720 … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Crude Oil To Sink With Market Sentiment, Gold Outlook Still Uncertain

Posted: 11 Jul 2011 03:59 AM PDT

Commodities – Energy
Crude Oil Sinks Amid Broad-Based Risk Aversion
WTI Crude Oil (NY Close): $96.20 // -2.47 // -2.50%
Crude prices are pushing aggressively lower as risk sentiment fades, with markets finding the toxic mix of deepening contagion to the Euro Zone debt crisis and the prospect of accelerated rate hikes in China in the aftermath of a sharp jump in headline inflation tough to swallow. Indeed, sentiment was already shaky after Friday's bitterly disappointing US Jobs report. … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

EUR/USD Breaks Triangle To Downside; Break Of 1.41 Clears Way For 1.3960, 1.3850

Posted: 11 Jul 2011 03:58 AM PDT

EUR/USD Elliott Wave Count in the Short-term (7/7)
EUR/USD

- Early trading this week has lead to a break below a projected triangle seen in the daily chart.
- This week is set to be another one that can provide nasty headlines for the EUR/USD in terms of systemic risk and results from bank tests.
- However, the RSI has yet to sustain a break below 40, so the bullish momentum from January 2011 has yet to be invalidated. A break below would be nice confirmation.
- There are a couple of other … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex – EUR/USD Tumbles Amid Fears Over Debt Contagion

Posted: 11 Jul 2011 03:55 AM PDT

Forex Pros – pros &ndash; The euro extended losses against the U.S. dollar on Monday, tumbling to a fresh two-week low, pressured by fears that the region&rsquo;s sovereign debt crisis may spread to Italy from Greece.<br /><br />EUR/USD hit 1.4109 during European early afternoon trade, the pair&rsquo;s lowest since June 27; the pair subsequently consolidated at 1.4114, shedding 1.04%.<br /><br />The pair was likely to find support at 1.4101, the low of June … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

AUD/NZD Daily Fundamental Analysis For July 12, 2011

Posted: 10 Jul 2011 04:19 PM PDT

By ForexMansion.com
The AUD/NZD pair dropped sharply with the beginning of the week, reaching its lowest level in almost a month. The New Zealand currency was able to keep its gains against the greenback, which opened the way for the AUD/NZD pair to record more losses.
The Chinese inflation increased to 6.4% during June, despite the Chinese government and PBoC’s measures to anchor inflation. The expectations refer to more tightening in the Chinese monetary policy, which will hurt the China’s … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

AUD/USD Daily Fundamental Analysis For July 12, 2011

Posted: 10 Jul 2011 04:18 PM PDT

By ForexMansion.com
The AUD/USD pair dropped with the beginning of the week, as the US dollar dominated the currency market due to risk aversion. The sell-off in the high yielding currencies helped the dollar to control the AUD/USD pair’s movement.
The disappointing employment data from the U.S. economy increased fears in the financial market, which pushed investors to abandon risky assets where the dollar benefited to record more gains against its major counter parts.
On the other hand,Chinese … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

NZD/USD Daily Fundamental Analysis For July 12, 2011

Posted: 10 Jul 2011 04:18 PM PDT

By ForexMansion.com
The NZD/USD pair traded early Monday near its all time high, as the New Zealand dollar was able to keep its gains against the greenback even after the disappointing U.S. NFP reduced investors risk appetite.
The lower than expected employment numbers from the U.S. economy fueled concerns about the global recovery, and opened the door for the dollar to dominate the currency market as a safe haven currency.
Risk aversion and jitters dominate the market with fears over the … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

USD/JPY Daily Fundamental Analysis For July 12, 2011

Posted: 10 Jul 2011 04:17 PM PDT

By ForexMansion.com
The USD/JPY pair is trading in a narrow rang with the beginning of the week, after it recorded its biggest daily decline in six weeks. The safe-haven currencies become the biggest winners in the foreign exchange market after the disappointing US NFPs and rising debt woes.
The Japanese yen kept its gains against its major counterparts early Monday, where it traded near its highest level in a week against the euro. The high-yielding currencies witnessed heavy sell-off last … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex News – Confidence Loss On Contagion Worries

Posted: 10 Jul 2011 03:22 PM PDT

By ForexMansion.com
 
Since contagion fears are growing in Europe determining the European officials to hold an emergency meeting in Brussels today, confidence has evaporated from the markets and the safe heaven dollar has been pushed aggressively to the upside alongside the yen.
The European and Asian stock markets fell today while the euro slid to a two weeks low on fears the European debt crisis might spread to Italy, where there is a disagreement between the Italian Prime Minister … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards
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