Thursday, July 7, 2011

DailyMarkets.com - Regis Upgraded To Neutral

DailyMarkets.com - Regis Upgraded To Neutral


Regis Upgraded To Neutral

Posted: 07 Jul 2011 08:01 AM PDT

We are upgrading our rating on Regis Corporation (NYSE:RGS), the largest hair salon chain in the world, from Underperform to Neutral.
The rating upgrade is based on a host of initiatives taken by the company to drive traffic and enhance same-store sales growth. To attract new customers and retain existing ones, Regis has installed a point of sale (POS) system as well as Internet connections in all salons. The company has already equipped more than 2000 salons with this facility and plans to equip … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


ResMed Acquires BiancaMed

Posted: 07 Jul 2011 08:01 AM PDT

Developer and marketer of medical equipments for treating sleep disordered breathing and other respiratory disorders, ResMed Inc. (RMD) recently acquired an Irish medical technology company BiancaMed Ltd. As per the terms of the deal, ResMed purchased all outstanding shares of BiancaMed. Financial terms of the deal were not disclosed.
BiancaMed is a manufacturer and distributor of non-contact devices for monitoring sleep and breathing. The company's leading product SleepMinder measures … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


ResMed Acquires BiancaMed

Posted: 07 Jul 2011 08:01 AM PDT

Developer and marketer of medical equipments for treating sleep disordered breathing and other respiratory disorders, ResMed Inc. (RMD) recently acquired an Irish medical technology company BiancaMed Ltd. As per the terms of the deal, ResMed purchased all outstanding shares of BiancaMed. Financial terms of the deal were not disclosed.
BiancaMed is a manufacturer and distributor of non-contact devices for monitoring sleep and breathing. The company's leading product SleepMinder measures … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Apple’s Injunction Bid Rejected

Posted: 07 Jul 2011 07:35 AM PDT

Apple Inc. (AAPL) received an adverse ruling from a federal judge in Oakland, California. Apple had sought to prevent Amazon.com Inc. (AMZN) from using the "App Store" name, according to a report from news agency Reuters.
The judge rejected Apple's preliminary injunction petition owing to the iPhone maker's failure to establish its claim that there was a "likelihood of confusion" with Amazon's services.
Earlier, in March 2011, Apple filed a trademark infringement lawsuit against … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Motorola Mobility Cuts Tablet Price

Posted: 07 Jul 2011 07:35 AM PDT

Motorola Mobility Holdings Inc.(MMI) recently reduced its XOOM tablet prices from $599 to $499, thus taking the competition to other tablet makers.
Samsung's Galaxy Tab, Research In Motion Ltd. (NASDAQ:RIMM) PlayBook and Apple Inc's (NASDAQ:AAPL) iPad are all priced at $499. Thus the price cut in XOOM tablet will place all the products at par on the basis of prices. Despite such price reduction, none could match the sales of Apple's iPad.
Motorola Mobility launched its first tablet called … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Canadian Dollar: Key ST Resistance At 993

Posted: 07 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: 07 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


Thursday Links

Posted: 07 Jul 2011 07:17 AM PDT

1. Vehicle City, the nickname given Flint as the birthplace of General Motors, has become the state’s version of Dodge City, as murders and arsons soar. 

2.  There are now more medical marijuana dispensaries in Denver than there are Starbucks. Local smokers even have a professional weed critic in the alternative weekly paper. 

3. NYC police crack down on Midtown Manhattan food trucks.  

4. Manpower Employment Services has many job openings, but its finds a lack of … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Forex – EUR/USD Erases Losses After Comments By ECB’s Trichet

Posted: 07 Jul 2011 07:07 AM PDT

Forex Pros – pros &ndash; The euro erases losses against the U.S. dollar on Thursday, after European Central Bank President Jean-Claude Trichet said the bank had decided to suspend its rating requirement for Portugal.<br /><br />EUR/USD pulled back from 1.4222, the pair&rsquo;s lowest since June 27, to hit 1.4337 during early U.S. trade, easing up 0.10%.<br /><br />The pair was likely to find support at 1.4141, the low of June 24 and resistance at 1.4465, … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Canadian Ivey PMI Falls Less-than-expected In June

Posted: 07 Jul 2011 07:04 AM PDT

Forex Pros – pros &ndash; Canada’s Ivey purchasing managers&rsquo; index fell less-than-expected in June, industry data showed on Thursday.<br /><br />In a report, the Richard Ivey School of Business said its purchasing managers&rsquo; index declined to 68.2 in June from 69.1 in May. <br /><br />Analysts had expected the index to decline to 66.3 in June.<br /><br />A figure above 50.0 indicates industry expansion, below indicates … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Nokia Lowers Phone Prices

Posted: 07 Jul 2011 06:55 AM PDT

The world's largest mobile phone maker, Nokia Corporation (NYSE:NOK) recently reduced the price of its three very popular smartphones N8, C7 and E6 by 15%. The recent price cut will enable Nokia to retain its market share as well as to target the middle class segment.
Earlier, the company stunned everyone by lowering its second quarter revenue guidance based on lower Average Selling Price (ASP).
Presently, Nokia's most widely used symbian operating system is lagging behind Google Inc's … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Novartis’ Afinitor Impresses Again

Posted: 07 Jul 2011 06:55 AM PDT

It seems Novartis AG's (NYSE:NVS) breast cancer drug, Afinitor (everolimus), is getting into a habit of delivering positive news. Right after the Committee for Medicinal Products for Human Use (CHMP) of the European Medicines Agency (EMA) recommended approval of Afinitor last week for the treatment of subependymal giant cell astrocytomas (SEGA), the drug impressed again this week with positive interim results from a pivotal late-stage trial (BOLERO-2).
BOLERO-2 evaluated Afinitor in combination … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


ADP Report: Econ. Recovery Finds New Traction

Posted: 07 Jul 2011 06:49 AM PDT

“Employment in the U.S. nonfarm private business sector rose 157,000 from May to June on a seasonally adjusted basis, according to the latest ADP National Employment Report released today (see chart above).  Today's ADP National Employment Report estimates employment in the service-providing sector rose by 130,000 in June, nearly three times faster than in May, marking 18 consecutive months of employment gains. Employment in the goods-producing sector rose 27,000 in June, more than … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Merck KGaA Seeks Rebif Extension

Posted: 07 Jul 2011 06:35 AM PDT

Merck KGaA (MKGAF) recently filed a marketing application with the European Medicines Agency (EMA) in its endeavor to expand the label of Rebif, its multiple sclerosis (MS) therapy. The company is seeking approval for Rebif to treat patients who have experienced a single demyelinating event (an early symptom of the disease) and who stand a high risk of developing MS.
Merck KGaA's application was supported by data from the REFLEX study, which met the primary endpoint of delaying the time to … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


ADP, Jobless Claims Set Table

Posted: 07 Jul 2011 06:35 AM PDT

Before the bell this morning, the ADP (NYSE:ADP) payroll and jobless claims reports hit the headlines, prior to 2nd quarter earnings season beginning next week and tomorrow’s important Bureau of Labor Statistics (BLS) non-farm payroll report. Both sets of numbers were good news, albeit modestly.

Jobless claims fell by 14,000 last week to 418,000 from a revised 432,000 in the previous week, though that revision was up by 4,000, so the improvement was effectively just 10,000. That said, the 4-week … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Stock Market News Briefs: CNF, CEPHEID, Goldman Sachs Group, Hutchinson Technology Incorporated, ImmunoGen, Kinetic Concepts, PhotoMedex

Posted: 07 Jul 2011 06:35 AM PDT

    Share prices of disk-drive components suppliers Hutchinson Technology Inc. (NASDAQ:HTCH) shot up by 21.15% after the company said it is optimistic about posting  higher-than-expected third quarter earnings results

    Shares of drug developer ImmunoGen, Inc. (NASDAQ:IMGN)  gained 9.50%  after analysts at  Jefferies initiated coverage on the company with a “Buy” rating

    According to reports from Bloomberg and New York Times, … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Oracle Launches Virtualization App

Posted: 07 Jul 2011 06:35 AM PDT

Oracle Corp.(NASDAQ:ORCL) in a bid to strengthen its desktop virtualization portfolio has launched the Oracle Virtual Desktop Client App for Apple Inc.'s (NASDAQ:AAPL) iPad. Users can get the application from Apple's App stores for free. It can also be downloaded from the company's iTunes website.
Oracle Virtual Desktop Client App will be managed by Oracle's Sun Ray Software and Oracle Virtual Desktop Infrastructure, thereby enabling the iPad users to efficiently and easily virtualize and manage … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Commodity Currencies Gain, Euro Falls On Strong U.S. Data, Dovish ECB

Posted: 07 Jul 2011 06:35 AM PDT

The Australian Dollar and Canadian Dollar were the strongest currencies in the Asian and European sessions as strong data across the globe boosted appetite for risk. On the other hand, the Euro continued its weekly decline, hitting its lowest point since June 27 as the European Central Bank's Governing Council voted to raise its key interest rate by 25.0-basis points to 1.50 percent. Yesterday, the OIS showed a 151.8 percent chance of a 25.0-basis point rate hike, denoting that today's rate … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Forex – USD/CAD Hits 8-week Low As Crude Oil Prices Jump

Posted: 07 Jul 2011 06:31 AM PDT

Forex Pros – pros &ndash; The U.S. dollar extended losses against its Canadian counterpart on Thursday, as crude oil, Canada&rsquo;s largest export, jumped after better-than-expected U.S. employment data.<br /><br />USD/CAD hit 0.9570 during early U.S. trade, the pair&rsquo;s lowest since May 11; the pair subsequently consolidated at 0.9591, shedding 0.64%.<br /><br />The pair was likely to find support at 0.9512, the low of May 11 and resistance at 0.9694, … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


ECB Signals Inflation Concern, Another Rate Hike In The Book For 2011

Posted: 07 Jul 2011 06:28 AM PDT

The ECB as expected hiked rates by another 25 basis points to 1.5%. The EUR was on the backfoot overnight, and slid in the wake of the 7:45AM ET announcement. However, during Trichet's comments, the EUR got a bit of a bounce, as Trichet used phrasing signifying that an interest rate meeting may come in September, the meeting after next.
From the Introductory Statement:
"Based on its regular economic and monetary analyses, the Governing Council decided to increase the key ECB interest … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Crude Oil Rallies To 3-week High After Strong U.S. Jobs Data

Posted: 07 Jul 2011 06:27 AM PDT

Forex Pros – pros &ndash; Crude oil futures extended gains on Thursday, jumping to a fresh three-week high after stronger-than-expected data on U.S. non-farm payrolls and first time jobless claims boosted optimism in the economic recovery of the world&rsquo;s largest oil consumer. <br />&nbsp;<br />On the New York Mercantile Exchange, light, sweet crude futures for delivery in August traded at USD98.67 a barrel during European afternoon trade, surging … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Japanese Yen: Under Pressure

Posted: 07 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: 07 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: 07 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: Under Pressure

Posted: 07 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


Short-term Double Bottom In GBP/JPY Suggests Further Bullish Correction Ahead

Posted: 07 Jul 2011 06:16 AM PDT

Prev: Short-term Elliott Wave Count, Double 3′s (71)
GBP/JPY

- GBP/JPY has formed a double bottom in the short-term.
- The RSI is pushing above 60, after simply kissing 30, suggesting a break of a weak bearish momentum.
- Note also that the market bounced off of 129.00, near the 78.6% retracement, holding off a bearish attempt. Now, if the market holds off another bearish attempt and supports it above 129.60, we should confirm the double bottom, for at least a short-term bullish attempt.
- … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Euro Slips After ECB Rate Rise

Posted: 07 Jul 2011 06:12 AM PDT

The euro faces a test of its resilience later on Thursday when ECB President Trichet is likely to discuss the outlook for inflation into 2012 in light of a well-flagged quarter-point tightening in monetary policy. The single currency has been harassed by traders following a relief rally in positive response to the Greek austerity bill, yet slipped following the ECB meeting touching its weakest value against the dollar in a week. If Trichet gets tricky over potentially defaulted Greek … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Forex – EUR/JPY Erases Losses After Trichet Remarks

Posted: 07 Jul 2011 06:09 AM PDT

Forex Pros – pros &ndash; The euro erased losses against the yen on Thursday, after European Central Bank President Jean-Claude Trichet said the bank was monitoring price risks &ldquo;vey closely&rdquo; at the banks post-policy meeting press conference.<br /><br />EUR/JPY pulled away from 115.52, the daily low, to hit 115.96 during European afternoon trade, easing up 0.09%.<br /><br />The pair was likely to find support at 115.11, the low of June 28 and … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Zumiez Shines Once Again

Posted: 07 Jul 2011 06:05 AM PDT

Zumiez Inc. (NASDAQ:ZUMZ), an action sports retailer in the United States, reported comparable store sales for the five-week period ended July 02, 2011. Total net sales for the period increased by a sharp 16.8% to $43.5 million from $37.2 million reported in the five-week period ended July 03, 2010.
For the reported period, comparable store sales climbed 9.8%, compared with a rise of 10.9% in the prior-year period. The June results marked the 19th consecutive month of comparable store sales … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


HON Invests For Global Warming

Posted: 07 Jul 2011 06:05 AM PDT

Honeywell International Inc. (NYSE:HON) is focused on meeting the rising demand for low global warming material used in insulation and aerosols. Through a planned investment of $33 million in its Baton Rouge, La., manufacturing facility, the company will increase the production capabilities of such products. The Baton Rouge facility of Honeywell is a prominent provider of refrigerants in the U.S.
Honeywell will be producing new low-global-warming-potential (GWP) blowing agent and propellant … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Today’s News Round-Up: ADP Jobs Report Jumps, UK And Germany Production Data Surprises On Upside

Posted: 07 Jul 2011 05:53 AM PDT

1. ADP Employment Change Jumps by 157K in June:
The ADP Employment change in came in much stronger than expected, showing the private sector adding 157K during the month of June. That near tripled expectations, and can help set up a better than expected figure in the non-farm payroll report.

The news helped sense a surge of risk appetite through the currency markets, with higher yielders benefiting against the safe haven currencies (CHF, JPY). The USD was stronger against the JPY and CHF as … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


EUR/GBP Is Bearish But A Strong Support Cluster Resides Around 0.8845

Posted: 07 Jul 2011 05:47 AM PDT

EUR/GBP Confirms Channel Breakout; Break Below 0.8950 Opens Up 0.8850 (7/6)
EUR/GBP

- The 4H chart for the EUR/GBP shows a decisive break below the 0.8950 support pivot, now targeting 0.8845-0.8850.
- The risk event of the ECB meeting and Trichet's conference is not hampering the euro's decline.
- The BoE held rates at 0.50%, and did not stir any market movements neither, so the prior dynamic continues.
- The RSI is breaking below 40, so the bullish momentum is killed. A break below 30 … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Crude Oil Gains On ADP Jobs Report, Gold Upswing Finds Resistance

Posted: 07 Jul 2011 05:40 AM PDT

Commodities – Energy
Crude Oil Gains on ADP Jobs Report
WTI Crude Oil (NY Close): $96.65 // -0.24 // -0.25%
Positioning is little changed from yesterday, with the WTI contract treading water after prices cleared the $96.00 figure. A steep run-up in Euro Zone periphery CDS rates – which points to increasing debt crisis fears – seems to be roundly ignored as S&P 500 stock index futures climb ahead of the opening bell on Wall Street.
Optimism follows a much better than expected ADP … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


U.S. Futures Extend Gains After ADP, Jobless Data; Dow Up 0.5%

Posted: 07 Jul 2011 05:38 AM PDT

Forex Pros – pros &ndash; U.S. stock futures pointed to a higher open on Thursday, as market sentiment was boosted by stronger-than-expected data on non-farm payrolls and first time jobless claims. <br /><br />Dow Jones Industrial Average futures pointed to a gain of 0.5%, the S&amp;P 500 futures advanced 0.8%, while Nasdaq 100 futures indicated a 0.65% increase.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br /><br />Stock futures added to gains after … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


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

Posted: 07 Jul 2011 05:36 AM PDT

Forex Pros – pros &ndash; The number of people who filed for unemployment assistance in the U.S. last week declined 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 1 declined by 14K to a seasonally adjusted 418K, outstripping expectations for a decline to 420K. <br /><br />The previous week&rsquo;s figure was … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Tellabs Downgraded To Underperform

Posted: 07 Jul 2011 05:35 AM PDT

We downgrade our recommendation on Tellabs Inc. (NASDAQ:TLAB) to Underperform backed by our assessment that the poor performance of the company will continue in the near future. First-quarter 2011 financial results were well below the Zacks Consensus Estimates and the second-quarter 2011 outlook provided by management was disappointing. What is important is that Tellabs' globally reputed high-margin digital cross-connect products are also showing a downtrend. Therefore, gross margin of the company … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Franklin Downgraded To Neutral

Posted: 07 Jul 2011 05:35 AM PDT

We have downgraded our recommendation on Franklin Resources Inc. (NYSE:BEN) to Neutral from Outperform apprehending costly regulatory issues in a volatile economic environment.
However, Franklin's second-quarter 2011 earnings of $2.25 per share outpaced the Zacks Consensus Estimate of $2.00 per share. Results reflected robust growth in revenue and higher AUM, partially offset by increased operating expenses. Moreover, the results were ahead of earnings of $1.55 per share in the prior-year … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


EUR/USD Continues Sliding Through The ECB Meeting

Posted: 07 Jul 2011 05:28 AM PDT

EUR/USD Plunges after Topping Confirmation…(7/6)
EUR/USD

- The ECB raised interest rates as expected from 1.25% to 1.50%.
- Although there was some consolidation in late US and into Asian session, the EUR/USD market started to continue south in European trading breaking below a rising wedge consolidation.
- This decline did not stop when the ECB raised rates. It will take some extreme hawkish statement or optimism from Trichet's conference to lift the EUR/USD.
- If the market stays below … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Entering The Strong Season For Gold

Posted: 07 Jul 2011 05:24 AM PDT

Gold stocks have had a nice bounce over the past couple weeks and gold investors are likely wondering if this long period of underperformance by the miners is finally drawing to an end.  Even though gold is more than $150 higher than it was in November 2010, gold stocks are still at the same level as they were last November.  Instead of leveraging gold, gold stocks have underperformed gold during this time period, and disappointed gold stock shareholders.  Back in June I wrote … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


U.S. ADP Non-farm Payrolls Jump More-than-expected In June

Posted: 07 Jul 2011 05:21 AM PDT

Forex Pros – pros &ndash; U.S. non-farm private employment rose significantly more-than-expected in June, industry data showed on Thursday.<br /><br />In a report, payroll processing firm ADP said non-farm private employment rose by a seasonally adjusted 157K in June, blowing past expectations for a 60K increase.<br /><br />The previous month&rsquo;s figure was revised down to 36K from a gain of 38K.<br /><br />The report said employment in the … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Forex – Dollar Broadly Higher As ECB Press Conference Eyed

Posted: 07 Jul 2011 04:55 AM PDT

Forex Pros – The U.S. dollar was broadly higher against most of its major counterparts on Thursday, ahead of the European Central Bank&rsquo;s post-policy meeting press conference later in the day.<br /><br />During European afternoon trade, the greenback was higher against the euro, with EUR/USD shedding 0.28% to hit 1.4278.<br /><br />The ECB raised its key lending rate to 1.5% from 1.25% earlier in the day. However, the single currency remained under pressure … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


European Central Bank Raises Interest Rate To 1.50%

Posted: 07 Jul 2011 04:47 AM PDT

Forex Pros – pros &ndash; The European Central Bank raised its benchmark interest rate for the second time in 2011, it announced on Thursday.<br /><br />The ECB said it lifted the benchmark interest rate to 1.5%, in a widely expected move, up from 1.25%, where it remained unchanged since April, when the bank raised rates for the first time in 22 months. <br /><br />ECB president Jean-Claude Trichet was to comment on the decision at a press conference later in the … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Forex – GBP/USD Largely Unchanged After BoE Holds Rate

Posted: 07 Jul 2011 04:39 AM PDT

Forex Pros – pros &ndash; The pound was broadly unchanged against the U.S. dollar on Thursday, after the Bank of England held its key interest rate at a record low of 0.5% in a widely expected decision.<br /><br />GBP/USD hit 1.5945 during European early afternoon trade, the pair&rsquo;s lowest since June 28; the pair subsequently consolidated at 1.5977, shedding 0.15%.<br /><br />Cable was likely to find support at 1.5910, the low of June 28 and a five-month … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Bank Of England Holds Benchmark Interest Rate At 0.50%

Posted: 07 Jul 2011 04:04 AM PDT

Forex Pros – pros &ndash; The Bank of England kept its benchmark interest rate unchanged for the 28th consecutive month in July, it announced on Thursday.<br /><br />The bank said it was maintaining the benchmark interest rate at 0.50%, in a widely expected move.<br /><br />The bank also said it was to maintain the stock of asset purchases financed by the issuance of central bank reserves at GBP200 billion.<br /><br />The minutes of the meeting of the … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Forex – EUR/USD Near 7-day Low As ECB Rate Decision Looms

Posted: 07 Jul 2011 03:58 AM PDT

Forex Pros – pros &ndash; The euro was trading close to a seven-day low against the U.S. dollar on Thursday, amid concerns that the European Central Bank would not signal future rate hikes at its post-policy meeting press conference later in the day.<br /><br />EUR/USD hit 1.4277 during European early afternoon trade, the pair&rsquo;s lowest since June 28; the pair subsequently consolidated at 1.4290, sliding 0.19%.<br /><br />The pair was likely to find … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Wheat Futures Dip After Russia Resumes Exports

Posted: 07 Jul 2011 03:23 AM PDT

Forex Pros – pros &ndash; Wheat futures were down for a second day on Thursday, as Russia was set to return to the export market, while favorable weather in the U.S. eased concerns over deteriorating crop conditions. <br /><br />On the Chicago Mercantile Exchange, wheat futures for September delivery traded at USD6.1988 a bushel during European morning trade, slumping 1%.&nbsp; <br /><br />It earlier fell as much as 1.1% to hit a daily low of USD6.1925 a … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Bank Negara Malaysia Holds Rate At 3.00%, Lifts Reserve Requirements

Posted: 07 Jul 2011 03:20 AM PDT

The Bank Negara Malaysia maintained the Overnight Policy Rate (OPR) unchanged at 3.00%, and held the floor and ceiling rates of the corridor for the OPR at 2.75 percent and 3.25 percent respectively.  However the Bank increased the Statutory Reserve Requirement (SRR) ratio by 100 basis points to 4.00% from 3.00%, effective from 16 July 2011.  The Bank said: “The decision to raise the SRR is undertaken as a measure to manage the significant build-up of … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Forex – EUR/GBP Steady Ahead Of Dual ECB, BoE Rate Decisions

Posted: 07 Jul 2011 03:19 AM PDT

Forex Pros – pros &ndash; The euro was steady against pound on Thursday, ahead of interest rate decisions by both the European Central Bank and the Bank of England later in the day.<br /><br />EUR/GBP pulled away from 0.8928, the pair&rsquo;s lowest since June 28, to hit 0.8049 during European late morning trade, dipping 0.01%.<br /><br />The pair was likely to find support at 0.8858, the low of June 27 and resistance at 0.9018, Wednesday&rsquo;s … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Invensys Awarded Major Contract For Thameslink Programme

Posted: 06 Jul 2011 11:29 PM PDT

The rail arm of FTSE 250 technology group Invensys (LON:ISYS) has been selected by Network Rail to deliver one of the Britain's largest ever resignalling schemes at London Bridge Station and the approaching railway. The overarching contract, under which will be a series of individual commission contracts, begins in August 2011 and runs through to the completion of the Thameslink project in December 2018.

The scope of Invensys Rail’s work will encompass the detailed design, installation, … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Forex News – Investors Anxious Ahead Of The European Rate Decisions And U.S. Labor Data

Posted: 06 Jul 2011 03:37 PM PDT

By ForexMansion.com
 
Most of European and Asian stocks rose on Thursday, as banking shares gained in Asia after China raised the benchmark interest rates, while European markets are waiting for key rate decision from the Bank of England and the European Central Bank, where BOE is expected to leave rates unchanged at 0.50%, while the ECB is expected to raise rates by 25 basis points to 1.50%.
Moreover, investors will be also eyeing Trichet's press conference later  on Thursday, … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


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