Tuesday, July 12, 2011

DailyMarkets.com - Italy Rocks Euro

DailyMarkets.com - Italy Rocks Euro

Italy Rocks Euro

Posted: 12 Jul 2011 08:18 AM PDT

Today’s Idea Tuesday, July 12, 2011
The Euro faces a new set of challenges with Italy’s debt problems rising to the surface. The nation has the second highest debt to GDP ratio in the EU behind Greece, and Italy’s GDP is over six times that of Greece. A debt compromise in the US could pave the way for further advances by the US Dollar versus the Euro. The close below the 1.40 mark yesterday could signal a technical breakout, but further technical confirmation is needed. Some traders may wish to … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Canadian Dollar: Key ST Resistance At 993

Posted: 12 Jul 2011 08:17 AM PDT

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

CRA International Downgraded

Posted: 12 Jul 2011 08:05 AM PDT

We are downgrading our rating on CRA International Inc (CRAI) to Neutral from Outperform. The company provides legal, regulatory, business consulting and other expert services through its specialized consultants across the globe.
We are optimistic about the company's cost-saving initiatives, which drove double-digit growth in operating margin for the first time in two years. Moreover, business conditions have started to improve with a healthy new business lead flow, an improved conversion … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Cliffs Doubles Quarterly Dividend

Posted: 12 Jul 2011 08:05 AM PDT

Mining operator Cliffs Natural Resources Inc. (NYSE:CLF) announced that it will increase its quarterly cash dividend by 100% to $0.28 a share. The increased dividend will be paid on September 1, 2011, to shareholders of record at the close of business on August 15, 2011.
The company's decision to raise its quarterly dividend clearly demonstrates its purpose to distribute excess cash to shareholders through sustainable ordinary dividend increases. The projected growth from its strategic … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex Trading: EURUSD Chops Around Range

Posted: 12 Jul 2011 08:02 AM PDT

The EURUSD is chopping around with little in the way of rhyme or reason. The price has held the 38.2% of the move up from the London low at the 1.3951 level. The channel trendline is also a support area. ON the topsid the 1.4007 level will be eyed, followed by the NY high at 1.4022 and the day high at the … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Word From The Floor: US Stocks Open Mixed, Trade Deficit Widens To $50.2 Bln

Posted: 12 Jul 2011 07:55 AM PDT

07/12/11 The major equity averages started mixed, and borrowing costs in Italy and Spain rose to all time highs. U.S. trade deficit rose 15.1% in … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Natural Gas Futures Advance On Extreme Heat Forecast

Posted: 12 Jul 2011 07:53 AM PDT

Forex Pros – pros &ndash; Natural gas futures rallied for a third day on Tuesday, hovering below a one-week high as weather forecasts showed that a heat wave was moving towards the U.S. East coast, boosting cooling demand expectations for the fuel.<br /><br />On the New York Mercantile Exchange, natural gas futures for August delivery traded at USD4.323 per million British thermal units during U.S. morning trade, climbing 0.75%.&nbsp; <br /><br />It earlier … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

YRC Worldwide Adopts New Facility

Posted: 12 Jul 2011 07:50 AM PDT

The leading transportation service provider in the world, YRC Worldwide (NASDAQ:YRCW) received a commitment for a three-year asset-based loan (ABL) scheme worth $400 million. The introduction of this new facility will bring in fresh capital into the company and also replace the existing asset-backed securitization (ABS) facility. The deal is expected to be completed by July 22, 2011.
Earlier, in April 2011, YRC Worldwide entered into a deal with its creditors and labor union Teamsters Brotherhood to … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex – Dollar Pares Gains Vs. Rivals As Euro Stabilizes

Posted: 12 Jul 2011 07:46 AM PDT

Forex Pros – pros &ndash; The U.S. dollar pared broad gains against its major counterparts on Tuesday, as the euro stabilized following an earlier rout, after fears over sovereign debt contagion in the single currency bloc sparked a flight to safety.<br /><br />During early U.S. trade, the greenback was higher against the euro, with EUR/USD shedding 0.27% to hit 1.3992.<br /><br />The single currency was supported by speculation that the European Central Bank … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex Trading: GBP/USD Leans Toward Further Overall Decline Despite Rebound

Posted: 12 Jul 2011 07:41 AM PDT

GBP/USD (daily chart) as of Tuesday (7/12/2011) has dropped down to hit a key 38.2% Fibonacci retracement (of the May 2010 lows to the May 2011 highs) and also approached its 1.5750 downside support target, before making a significant rebound. This occurs after a couple of weeks of sideways consolidation around 1.6000 that followed on the heels of a bullish trendline breakdown that effectively ended the year-long uptrend. The overall directional bias on GBP/USD continues to be to the downside. … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Netflix Unveils New DVD Plan

Posted: 12 Jul 2011 07:35 AM PDT

A leading provider of online movie rental services, Netflix Inc. (NFLX) unveiled a new DVD-only subscription plan for $7.99 per month. Previously, Netflix subscribers had to pay $9.99 for unlimited DVD rentals and subscription access or $4.99 for just two DVDs per month.
The new subscription plan is targeted at those customers who either don't have an access to broadband service or are not interested in Netflix's streaming content.
Over the last 12-18 months, the company had been shifting … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Qiagen To Buy 61% Stake In Ipsogen

Posted: 12 Jul 2011 07:35 AM PDT

Recently, Qiagen (NASDAQ:QGEN) entered into an agreement to acquire 61% stake in France-based Ipsogen, a leading molecular profiling and personalized healthcare diagnostic company in the field of hematology.  
This binding agreement follows the terms announced earlier on June this year when Qiagen announced its intention of purchasing an initial stake in Ipsogen for €12.90 per share. Thereafter, Qiagen plans to issue a public offering for the remaining shares at the same price in order to … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex – GBP/USD Trims Losses As Euro Zone Contagion Fears Ease

Posted: 12 Jul 2011 07:33 AM PDT

Forex Pros – pros &ndash; The pound pared steep losses against the U.S. dollar on Tuesday, as fears over sovereign debt contagion in the euro zone eased as European Union leaders prepared to hold an emergency summit to address the crisis on Friday.<br /><br />GBP/USD clawed back up from 1.5781, the pair&rsquo;s lowest since January 26; to hit 1.5895 during early U.S. trade, down 0.06% on the day.<br /><br />Cable was likely to find support at 1.5781, the days … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

GBP/USD Completes A Gartley Pattern And Sees Bullish Intention

Posted: 12 Jul 2011 07:31 AM PDT

Prev: GBP/USD in a Wedge Breakout Signaling Bearish Continuation (7/6)
GBP/USD

- After breaking below a rising wedge last week, the sterling-greenback has been bearish.
- The bearish attempt stretched the current swing to below 1.58, completing a swing projection by 1.5850, breaking below the 1.5880 61.8% retracement support.
- This completes a wave equality seen in the daily chart, and what is known as a Gartley retracement pattern. At the completion, bullish intention can be expected.
- If … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Crude Falls To Trade Near $94

Posted: 12 Jul 2011 02:30 AM PDT

07/12/11 Front month crude prices fell to trade near $94 a barrel this session on eurozone debt fears and a stronger … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Gold Futures Trim Losses, Trade Above USD1,550

Posted: 12 Jul 2011 07:28 AM PDT

Forex Pros – pros &ndash; Gold futures trimmed losses on Tuesday, pulling back from a two-day low as the euro pared losses against the U.S. dollar, while lingering fears over the euro zone&rsquo;s debt woes supported prices. <br /><br />On the Comex division of the New York Mercantile Exchange, gold futures for August delivery traded at USD1,551.55 a troy ounce during U.S. morning trade, easing down … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex – EUR/USD Pares Losses On ECB Bond Buying Speculation

Posted: 12 Jul 2011 07:22 AM PDT

Forex Pros – pros &ndash; The euro trimmed steep losses against the U.S. dollar on Tuesday, amid speculation that the European Central Bank stepped in to buy euro zone debt, while European Union leaders prepared to hold an emergency summit on Friday.<br /><br />EUR/USD clawed back up from 1.3838 the pair&rsquo;s lowest since March 11, to hit 1.3990 during early U.S. trade, still down 0.28% on the day.<br /><br />The pair was likely to find support at 1.3751, … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

More Chinese Rate Hikes This Year? Lending And Money Supply Suggests Yes, Awaiting GDP

Posted: 12 Jul 2011 07:16 AM PDT

While the financial markets remain riveted to what's happening in Europe and the higher yields seen in Euro-zone periphery markets, on the other side of the world we had data that can cause other issues for the global economy as we move through the 2nd half of the year.
That would be the potential for more monetary tightening from China which should be closely watched by those that are trading commodity currencies – especially the AUD and NZD which are heavily reliant on Chinese imports of … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Rite Aid Reiterated To Underperform

Posted: 12 Jul 2011 07:05 AM PDT

We are maintaining our long-term ‘Underperform’ recommendation on Rite Aid Corporation (NYSE:RAD) with a target price of $1.25 per share. Moreover, the company has a Zacks #3 Rank, implying a short-term ‘Hold’ rating on the stock.
Headquartered in Camp Hill, Pennsylvania, Rite Aid is the third largest retail drugstore in the U.S. based on revenues and number of stores. With 4,714 stores, the company operates in 31 states across the country and in the District of Columbia. The company’s pharmacy … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Crude Oil Futures Ease Off 7-day Low As Euro Pares Losses

Posted: 12 Jul 2011 07:05 AM PDT

Forex Pros – pros &ndash; Crude oil futures pared losses in volatile trade on Tuesday, easing off a seven-day low as the U.S. dollar came off its highs after a successful Italian bond auction and amid expectations U.S. crude supplies declined for a sixth consecutive week.<br /><br />On the New York Mercantile Exchange, light, sweet crude futures for delivery in August traded at USD94.95 a barrel during U.S. morning trade, shedding … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

U.S. IBD/TIPP Economic Optimism Index Declines In July

Posted: 12 Jul 2011 07:03 AM PDT

Forex Pros – pros &ndash; Consumer confidence in the U.S. declined more-than-expected in July, industry data showed on Tuesday.<br /><br />In a report, Investor’s Business Daily and TechnoMetrica Market Intelligence said their IBD/TIPP Economic Optimism Index dropped to 41.4 in July, down from June&rsquo;s reading of 44.6.<br /><br />Economists had expected the index to decline to 43.9 in July.&nbsp; <br /><br />A reading above 50.0 indicates … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Out To Lunch

Posted: 12 Jul 2011 06:56 AM PDT

After 21-months of trying to figure out how to mend the broken China in the store, EU officials in concluding a meeting on Monday posted a sign in the front window announcing they were "Out to Lunch." The current crisis of confidence feels somewhat different from past crises during which speculators ganged up to prize tiny fissures wide open before forcing an inevitable crack in the system. It has been said that Italian government debt is tightly concentrated in the hands of a finite number … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex – USD/CAD Erases Gains After U.S. Trade Data

Posted: 12 Jul 2011 06:42 AM PDT

Forex Pros – pros &ndash; The U.S. dollar erased gains against its Canadian counterpart on Tuesday, pulling back from a two-week high after government data showed that the U.S. trade deficit widened more-than-expected in May.<br /><br />USD/CAD pulled back from 0.9779, the pair&rsquo;s highest since June 29, to hit 0.9688 during early U.S. trade, unchanged on the day.<br /><br />The pair was likely to find support at 0.9613, Monday&rsquo;s low and … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Apple Drags HTC To Court

Posted: 12 Jul 2011 06:35 AM PDT

In a latest development, Apple Inc. (NASDAQ:AAPL) has sued HTC Corp. accusing the Taiwanese smartphone maker of infringing five of its patents. The patents relate to software architecture and user interfaces in portable electronic devices, hardware for touchscreens and movement sensors. The case was filed on July 8, 2011 with the U.S. International Trade Commission (ITC) in Washington.
This marks Apple's second lawsuit against HTC, and the hearing of the first lawsuit is scheduled for August 5, … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Stock Market News Briefs: Alcoa, Alcatel, Arch Chemicals, Citigroup, Deutsche Bank AG, Dell, Kandi Technolgies, Corp., Local.com, NYSE Euronext, Pluristem Therapeutics

Posted: 12 Jul 2011 06:35 AM PDT

    Alcoa (NYSE:AA) posted Q2 EPS of $0.32, lower than the Zacks Consensus Estimates of $0.34 per share. Revenues for the quarter rose 27% year-over-year to $6.59 billion

    Swiss chemicals company Lonza Group (CH:LONN) will buy biocide firm Arch Chemicals, Inc. (NYSE:ARJ) in deal valued at $1.4 billion. Following this development, shares of Arch Chemical gained 12.33%

    Share prices of Chinese electric motor vehicle maker Kandi Technologies Corp. … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Watson To Market Antares’ OAB Drug

Posted: 12 Jul 2011 06:35 AM PDT

Watson Pharmaceuticals Inc. (NYSE:WPI) recently announced that it has entered into a licensing agreement with Antares Pharma Inc. (AIS) for the commercialization of Antares Pharma’s topical oxybutynin gel in the US and Canada. The oxybutynin gel is currently under regulatory review in the US as a treatment for overactive bladder (OAB). The US Food and Drug Administration (FDA) is expected to give its decision on the approval of the product by December 8, 2011.
According to the agreement, Watson … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Monsanto, Sinochem To Seal Ties

Posted: 12 Jul 2011 06:35 AM PDT

Global agribusiness Monsanto Company (NYSE:MON) hopes to strengthen its tie with Sinochem, the Chinese chemicals conglomerate. At present, the two companies are in talks regarding the economic and politically sensitive issues, which were a topic for debate for months.
The agreement is anticipated to include a large joint venture following the sale of a minority stake. This might increase Sinochem's possibilities of marketing Monsanto's products in China.
Monsanto dominates in crop … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

USD/CAD Rejected At 0.9775; Waiting On An Oil Rally To Accelerate Decline

Posted: 12 Jul 2011 06:32 AM PDT

USD/CAD

- The USD/CAD was seen in a double bottom attempt yesterday, and successfully developed it over the Asian-European session.
- However, heading into the US session, the market is rejecting the rally from closing above the 50% retracement level and the 200SMA near 0.9750. A close above 0.9775 would make weaken the bearish outlook.
- Otherwise, a close below 0.9665 in the US session should clue in a bearish continuation.
- The daily chart shows the bearish continuation scenario. The … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex Trading: USDJPY Takes Out June Low But Rebounds

Posted: 12 Jul 2011 06:27 AM PDT

The USDJPY started a move yesterday falling below the 80.41 channel trendline level and continued in the evening falling below the 80.00 level and then the low from June at the 79.82 and the low from May at the 79.56 level.  The low extended all the way to the 79.16 level before seeing  a rebound. 
The price rebound has taken the price up toward the 100 bar MA on the 5 minute chart (see below). That level comes in at the 79.76 level which is also the 50% of the move down from … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Euro Remains Under Pressure Amid Crisis Impasse

Posted: 12 Jul 2011 06:24 AM PDT

The European Euro remained under pressure in the overnight session, falling to its lowest exchange rate against the Japanese Yen and U.S. Dollar, while hitting another all-time low against the Swiss Franc, as the most recent round of meetings by European finance ministers failed to yield any resolution on how to solve the currency bloc's worsening debt crisis.
The Euro remains the worst performing currency in the month of July among the major currencies, depreciating the most against the … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

British Pound: Caution

Posted: 12 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

Swiss Franc: The Downside Prevails

Posted: 12 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: 12 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: 12 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: 12 Jul 2011 06:15 AM PDT

07/12/11 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 Pulls Back From Record Low After Italian Debt Auction

Posted: 12 Jul 2011 06:08 AM PDT

Forex Pros – pros &ndash; The euro pulled back from a record low against the Swiss franc on Tuesday, boosted by speculation that the European Central Bank stepped in to buy peripheral euro zone debt and after a successful Italian bond auction.<br /><br />EUR/CHF clawed back up from 1.1555 the pair&rsquo;s all-time low, to hit 1.1675 during European afternoon trade, still down 0.32% on the day.<br /><br />The pair was likely to find support at 1.1555, the days … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex Trading: EURUSD Corrects Higher But Comes Off Peaks

Posted: 12 Jul 2011 05:57 AM PDT

Talk of bond purchases from EU central banks a better technical picture (less bearish) has given the EURUSD a lift in NY trading .  The price moved above the trendline resistance on the hourly chart at the 1.3952 level and has extended to a high price of 1.4022.  The next key target off the hourly chart comes in at the 1.4042 level. This is the 38.2% of the move down from the July 7th high price (see chart below).   Staying above the channel trendline keeps the … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Alcoa Posts Mixed 2Q Results

Posted: 12 Jul 2011 05:50 AM PDT

Alcoa Inc. (NYSE:AA), the largest U.S. aluminum producer, reported mixed second-quarter 2011 results. The company reported adjusted earnings per share of 32 cents, missing the Zacks Consensus Estimate of 34 cents.
Revenues for the quarter were up 27% year over year to $6.585 billion, outpacing the Zacks Consensus Estimate of $6.434 billion. The increase was due in part to higher alumina shipments, and higher realized pricing for both alumina and aluminum.
The company posted improved profits across … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

ABB To Acquire Trasfor Group

Posted: 12 Jul 2011 05:50 AM PDT

ABB Ltd. (NYSE:ABB) entered into an agreement to acquire the Trasfor Group, a renowned producer of dry-type transformers and inductors for low-voltage and medium-voltage applications, for broadening its scope in specialty transformers business. With this acquisition agreement, ABB will be addressing the fast growing markets and applications. The financial terms of the deal were not disclosed.
Trasfor has its manufacturing base in Lugano, Switzerland and has two plants in Italy. Revenue generated … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Canada Trade Deficit Narrows In Line With Expectations

Posted: 12 Jul 2011 05:49 AM PDT

Forex Pros – pros &ndash; Canada&rsquo;s trade deficit narrowed broadly in line with market expectations in May, official data showed on Tuesday.<br /><br />In a report, Statistics Canada said that Canada&rsquo; trade surplus narrowed to CAD0.8 billion in May, in line with expectations, after posting a deficit of CAD0.9 billion in April.<br /><br />Canada’s exports increased 1.2% to CAD36.9 billion in May, while imports rose 1.1% to CAD37.8 billion. <br … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

U.S. Futures Slide On Italy Contagion Fears; Dow Sheds 0.5%

Posted: 12 Jul 2011 05:42 AM PDT

Forex Pros – pros &ndash; U.S. stock futures pointed to a lower open on Tuesday, tracking global equity markets lower amid mounting fears that the euro zone&rsquo;s sovereign debt crisis could spread to Italy, the region&rsquo;s third largest economy. <br /><br />Dow Jones Industrial Average futures pointed to a decline of 0.5%, the S&amp;P 500 futures dropped 0.75%, while Nasdaq 100 futures sank 0.65%.<br /><br />Stock index futures pared some of their … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

EUR/USD: In Correction From 200-Period Moving Average Support; 1.4070-1.41 Is Resistance

Posted: 12 Jul 2011 05:37 AM PDT

Prev: EUR/USD Breaks Triangle to the Downside; Break of 1.41 Opens up 1.3960, 1.3850 (7/11)
EUR/USD

- The EUR/USD is rebounding off a bullish divergence after a sharp decline down to 1.3837.
- The bullish candles formed ahead of the US session showed impressive strength relative to other bullish candles during the decline. This may be a sign of a correction.
- There are some relieving signs as the ECB talks buying of periphery bonds.
- For now, the market is held below 1.40. The latest … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

U.S. Trade Deficit Widens More-than-expected In May

Posted: 12 Jul 2011 05:35 AM PDT

Forex Pros – pros &ndash; The U.S. trade deficit widened more-than-expected in May, official data showed on Tuesday.<br /><br />In a report, the U.S. Bureau of Economic Analysis said that the U.S. trade deficit widened to a seasonally adjusted USD50.2 billion in May, compared to a deficit of USD43.6 billion in April, whose figure was revised from a deficit of USD43.7 billion.<br /><br />Analysts had expected the U.S. trade deficit to widen to USD44.0 billion in … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Neutral On J2 Global Communications

Posted: 12 Jul 2011 05:30 AM PDT

We downgrade our recommendation on j2 Global Communications Inc. (NASDAQ:JCOM) to Neutral based on its current valuation. The stock price soared more than 36% last year. We continue to believet he company's strong financial position and diversified product pipeline, coupled with the future growth prospects of outsourced value-added messaging services, will drive its valuation levels higher in the near future.
The Subscriber Usage revenue continues to beat market expectations. This is an important … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Liberty Global To Divest Auster

Posted: 12 Jul 2011 05:30 AM PDT

Liberty Global Inc. (NASDAQ:LBTYA), a leading cable operator in Europe, Latin America, and Australia, has decided to divest its operations in Australia. Liberty Global holds 54% stake of Austar United Communications Ltd., a leading pay-TV service provider in Australia. Yesterday, Austar announced that Liberty Global and Foxtel, the largest pay-TV operator in Australia, have entered into a definitive agreement whereby Foxtel will acquire 100% stake of Austar for approximately $2 billion. Liberty … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

EUR Stabilizes On Talk Of Central Bank Buying Of Periphery Bonds

Posted: 12 Jul 2011 05:28 AM PDT

The Euro continued sinking overnight, falling to a 4-month low against the Yen at 109.60, slicing through its 200-day moving average against the USD to 1.3840, and falling to a fresh record low against the Swiss Franc at 1.1580.
The concerns around sovereign solvency rages, as yields for Italian and Spanish bonds continued to soar in today's session, our clearest signal that investors are shunning Euro-zone periphery risk. German 10-year bunds meanwhile saw their yield fall to 2.5%, the … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

USD/JPY Hammering At 79.56 Pivot To Open Way For 78.00, 76.00

Posted: 12 Jul 2011 05:05 AM PDT

Prev: USD/JPY Finishing a Rising Wedge (7/7)
USD/JPY

- The USD/JPY is testing an important pivot at 79.56.
- The 1H chart shows the market rejecting a break below as it gears up for the US session. The RSI has been very bearish, but in the near-term, we might get a correction to resolve the oversold condition.
- If we get through today's US session, and the market is able to close below 79.56 we are opening the 78.6% retracement level near 78.00, and the record low near  76.00 if 78.00 … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex – Dollar Trims Gains Vs. Rivals As Euro Regains Ground

Posted: 12 Jul 2011 05:04 AM PDT

Forex Pros – pros &ndash; The U.S. dollar remained broadly higher against its major counterparts on Tuesday, while the euro regained ground following a successful auction of Italian government debt, in spite of ongoing concerns over sovereign debt contagion to the nation.<br /><br />During European afternoon trade, the greenback was higher against the euro, with EUR/USD shedding 0.22% to hit 1.3997.<br /><br />Italy auctioned the targeted amount of EUR6.75 billion … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

My FICO Scores Are Lower Than Expected In Raleigh – Why?

Posted: 12 Jul 2011 05:01 AM PDT

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


Forex – GBP/USD Near 5-and-a-half Month-low After U.K. CPI Data

Posted: 12 Jul 2011 04:46 AM PDT

Forex Pros – pros &ndash; The pound was trading close to a five-and-a-half-month low against the U.S. dollar on Tuesday, as concerns over sovereign debt contagion saw investors shun riskier assets while a report showing a decline in U.K. inflation weighed on interest rate expectations.<br /><br />GBP/USD hit 1.5781 during European afternoon trade, the pair&rsquo;s lowest since January 26; the pair subsequently consolidated at 1.5827, shedding 0.49%.<br /><br … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex – EUR/USD Close To 5-month Low On Debt Contagion Fears

Posted: 12 Jul 2011 04:30 AM PDT

Forex Pros – pros &ndash; The euro was hovering close to a five-month low against the U.S. dollar on Tuesday, pressured by growing concerns that the euro zone&rsquo;s debt crisis was spreading to Italy as government bond yields rose sharply.<br /><br />EUR/USD hit 1.3838 during European early afternoon trade, the pair&rsquo;s lowest since March 11; the pair subsequently consolidated at 1.3924, shedding 0.75%.<br /><br />The pair was likely to find support … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex – USD/CHF Slides To 8-day Low As Euro Debt Crisis Deepens

Posted: 12 Jul 2011 04:08 AM PDT

Forex Pros – pros &ndash; The U.S. dollar erased gains against the Swiss franc on Tuesday, slipping to an eight-day low as growing concerns that the sovereign debt crisis in the euro zone could spread to the region&rsquo;s core economies boosted safe haven demand.<br /><br />USD/CHF pulled away from 0.8397, the pair&rsquo;s highest since Friday, to hit 0.8336 during European early afternoon trade, shedding 0.25%.<br /><br />The pair was likely to find … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Central Bank Of Kenya Reverses Discount Window Rate To 6.25%

Posted: 12 Jul 2011 03:52 AM PDT

The Central Bank of Kenya (CBK) reversed its 29 June 2011 decision, lowering CBK discount window rate to 6.25% from 8.00%.  The CBK maintained the central bank rate unchanged at 6.25% (having increased it 25bps on the 31st of May this year).  The Bank said in its circular: “Central banks always run discount windows as facilities of last resort as a means of providing temporary liquidity to banks in extreme cases.  The CBK is concerned that recently, commercial banks … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Oil Prices Track S&P 500 With Earnings In Focus, Gold May Be Topping

Posted: 12 Jul 2011 03:50 AM PDT

Commodities – Energy
Crude Oil Continues to Sink with S&P 500
WTI Crude Oil (NY Close): $95.15 // -1.05 // -1.09%
Aggressive selling continues as market-wide risk appetite evaporates, with now familiar headwinds from escalating contagion in the Euro Zone, disappointing US labor market figures and continued dead-lock over raising the US debt ceiling were compounded by yet more evidence that China would step up efforts to cool economic growth following a jump in Money Supply growth and New … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Wheat Futures Hit 3-day Low On Easing U.S. Crop Concerns

Posted: 12 Jul 2011 03:27 AM PDT

Forex Pros – pros &ndash; Wheat futures were down for a second day on Tuesday, slumping to a three-day low as easing concerns over U.S. crop conditions pressured prices, which were also weighed by a stronger U.S. dollar.&nbsp; <br /><br />On the Chicago Mercantile Exchange, wheat futures for September delivery traded at USD6.1988 a bushel during European morning trade, tumbling 2.82%. <br /><br />It earlier fell as much as 3.3% to trade at USD6.1762 a bushel, … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex News –Sharp Selloffs For The Euro

Posted: 11 Jul 2011 04:02 PM PDT

By ForexMansion.com
 
Contagion fears not only continue in Europe but have actually grown. The European debt crisis might spread from Greece, Ireland and Portugal to Italy and Spain. And combined with the poor jobs report from the U.S. and China’s rising inflation, heavy selloffs were seen across the board.
The European finance ministers failed after their meeting in Brussels yesterday to ease the fears since no quick fix or clear commitmentwas shown. Meanwhile the new IMF chief added to … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

NZD/USD Daily Fundamental Analysis For July 13, 2011

Posted: 11 Jul 2011 03:50 PM PDT

By ForexMansion.com
The volatility remains high in the market and the fluctuations are strong and the bearishness is dominant with risk aversion which kept the pressure on kiwi on Tuesday and biased the NZD/USD pair to the downside.
The NZD/USD is mainly driven by the sentiment and will continue so on Wednesday as growth and debt woes are the dominant factors. The pair will be affected surely by the Chinese GDP data due at 02:00 GMT where growth is expected to cool to 9.3% on the year in the … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

AUD/USD Daily Fundamental Analysis For July 13, 2011

Posted: 11 Jul 2011 03:39 PM PDT

By ForexMansion.com
The AUD/USD slumped heavily amid wide risk aversion on worsening growth outlook and deepening debt crisis in Europe with markets jittered that the contagion risk is rising and threatening Italy, the third largest economy in the euro area.
On Tuesday, the selloff continued especially after the euro area finance ministers failed to stem the losses by avoiding the dismissal of selective default by Greece and risk aversion supported the dollar over aussie as investors dumped … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

USD/JPY Daily Fundamental Analysis For July 13, 2011

Posted: 11 Jul 2011 03:12 PM PDT

By ForexMansion.com
The USD/JPY pair dropped sharply to its lowest level in more than four weeks, as the market focused on the debt crisis with fears from the spread of the crisis to Italy and Spain.
The Japanese yen strengthen significantly against the euro and the greenback, as traders are seeking safe haven investments after the spread of the debt crisis in EU, which increased uncertainty regarding the global recovery.
On the other hand, the disappointing non-farm payrolls numbers from the … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

AUD/NZD Daily Fundamental Analysis For July 13, 2011

Posted: 11 Jul 2011 03:09 PM PDT

By ForexMansion.com
The AUD/NZD pair advanced sharply early Tuesday, as the New Zealand dollar lost its previous gains against the greenback, opening the way for the pair to shift its movement to the upside reaching its highest level in three days.
The Australian dollar dropped also against the dollar, as the EU debt crisis dominated the market sentiment and forced investors to abandon high yielding currencies and shift to the yen and greenback.
Despite the significant drop for the Aussie and … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards
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