Wednesday, August 17, 2011

DailyMarkets.com - Australian Dollar: Technical Rebound In A Bearish Trend

DailyMarkets.com - Australian Dollar: Technical Rebound In A Bearish Trend

Australian Dollar: Technical Rebound In A Bearish Trend

Posted: 17 Aug 2011 08:18 AM PDT

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

Canadian Dollar: Technical Rebound In A Bearish Trend

Posted: 17 Aug 2011 08:18 AM PDT

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

Forex – Dollar Lower Vs. Major Rivals, Swissie Surges On SNB

Posted: 17 Aug 2011 08:14 AM PDT

Forexpros – The broadly weaker U.S. dollar was down against all of its major counterparts on Wednesday, as risk appetite firmed following the disappointing outcome of the previous day&rsquo;s Franco-German summit meeting, while the Swiss franc surged after the Swiss National Bank refrained from pegging the currency.<br /><br />During U.S. morning trade, the greenback was down against the euro, with EUR/USD gaining 0.36% to hit 1.4460.<br /><br />The euro found … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

A Look At The EUR/CAD’s Technical Levels And Scenarios

Posted: 17 Aug 2011 08:05 AM PDT

EUR/CAD

Ranging Market with Bullish Bias:
- The EUR/CAD is seen in 4H chart flattening after a bullish market. It is now in a ranging market with resistance at 1.4240 and support at 1.40.
- There is still bullish bias in the short to medium term as the RSI reading in the 4H chart has tagged 70, and has since stayed above 40, and even 50.
- A break below 1.40 has a breakout projection near 1.3760, which is near the 200SMA and above the 61.8% retracement level.
- If the market stays above … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Natural Gas Futures Rebound On Supply Disruption Concerns

Posted: 17 Aug 2011 08:04 AM PDT

Forexpros – Natural gas futures were up on Wednesday, rebounding from the previous session&rsquo;s one-week low as fears over a potential disruption to supplies in the U.S. Gulf of Mexico boosted prices, but gains were limited as weather forecasts in the U.S. continued to show moderating heat.<br /><br />On the New York Mercantile Exchange, natural gas futures for September delivery traded at USD3.949 per million British thermal units during U.S. morning trade, gaining … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

A Further Equity And Commodity Rebound Spells Trouble For USD

Posted: 17 Aug 2011 08:00 AM PDT

We had another back and forth session in currency markets today, with their euro and pound first sliding against the US dollar but then recovering the ground as equities turned back up in Europe.
EUR – As European Equities Rebound EUR/USD Tags 1.45
Despite weaker fundamental data from the euro zone in Germany yesterday in the form of GDP data which may imply a slower pace of interest-rate increases by the ECB or perhaps a stop to the rate tightening campaign from the ECB the euro continues to … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Staples Lifts Full-year Forecast, Sees 2Q Net Income Boost

Posted: 17 Aug 2011 08:00 AM PDT

08/17/11 Strong international revenue and a rise in spending in its US stores allowed Staples Inc. (SPLS) to post a 36% 2Q net income … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Regency Consolidates In Minneapolis

Posted: 17 Aug 2011 07:56 AM PDT

Regency Centers Corporation (REG) recently completed the acquisition of Rockridge Center, a 125,213 square foot neighborhood shopping center in Minneapolis anchored by Cub Foods for $20.5 million from private real estate development company Hempel Properties.
Rockridge Center is an important and valuable acquisition for Regency Centers as it is favorably located in a densely populated area with high disposable income. The presence of Cub Foods as the anchor further adds value to the center. … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Earnings Preview: Gap Inc.

Posted: 17 Aug 2011 07:56 AM PDT

Gap Inc. (NYSE:GPS), one of world’s leading premier specialty retailers, is scheduled to report its second-quarter 2011 financial results after the market closes on August 18, 2011. The current Zacks Consensus Estimates for the quarter is earnings of 34 cents a share. For the quarter under review, revenue is expected at $3,372.0 million, according to the Zacks Consensus Estimate.
First-Quarter 2011, a synopsis
Gap’s first-quarter 2011 earnings of 40 cents per share declined 11.1% from last year’s … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Word From The Floor: Stocks Advance On Retailers, PPI Rises

Posted: 17 Aug 2011 02:47 AM PDT

08/17/11 US stocks opened higher, lifted by mostly better-than-expected earnings from … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Crude Oil Futures Hold On To Gains After Mixed U.S. Inventory Data

Posted: 17 Aug 2011 07:46 AM PDT

Forexpros – Crude oil futures held on to strong gains on Wednesday, trading close to a two-week high after a government report showed a surprise buildup in U.S. crude oil, while gasoline inventories declined significantly. <br /><br />On the New York Mercantile Exchange, light sweet crude futures for delivery in October traded at USD88.63 a barrel during U.S. morning trade, jumping 1.7%.&nbsp; <br /><br />It earlier rose as much as 2.25% to trade at USD89.17 a … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Qiagen Partners With Pfizer

Posted: 17 Aug 2011 07:36 AM PDT

Recently, Qiagen (NASDAQ:QGEN) entered into an agreement with Pfizer Inc. (NYSE:PFE) to develop a companion molecular diagnostic test for use with an investigational Pfizer compound for treating non-small cell lung cancer (NSCLC). Financial terms of the deal were not disclosed. The proposed test will use the same core assay component as Qiagen's proprietary KRAS assay technology, which detects mutations of the KRAS gene, frequently found in human colorectal cancers.
Earlier this month, Qiagen opted … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Red Robin Outperforms In 2Q

Posted: 17 Aug 2011 07:36 AM PDT

Casual dining restaurant operator Red Robin Gourmet Burgers Inc. (NASDAQ:RRGB) reported adjusted earnings of 48 cents per share in the second quarter of 2011, handily beating the Zacks Consensus Estimate of 36 cents and the year-ago quarter earnings of 29 cents.
However, including executive transition and severance expense, GAAP net income in the reported quarter was $6.9 million or 44 cents per share. Results benefited from the upside in revenue arising from comparable sales growth and margin … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex – GBP/USD Breaks Above 1.6580, Hits 3-month High

Posted: 17 Aug 2011 07:31 AM PDT

Forexpros – The pound extended gains against the broadly weaker U.S. dollar on Wednesday, rallying to a three-month high as risk appetite firmed following the disappointing outcome of the previous day&rsquo;s Franco-German summit meeting.<br />&nbsp;<br />GBP/USD hit 1.6583 during U.S. morning trade, the highest since May 3; the pair subsequently consolidated at 1.6572, jumping 0.7%. <br /><br />Cable was likely to find support at 1.6322, Tuesday&rsquo;s … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Last Gasp For Sugar Bull Market?

Posted: 17 Aug 2011 07:18 AM PDT

Wednesday, August 17, 2011
Some traders who believe the highs in Sugar have already been made may wish to take advantage of the recent price recovery to explore bearish positions in October Sugar. An example of such a trade would be to sell calls in Sugar futures options with strike prices above the contract high of 31.68. With October Sugar trading at 28.25 as of this writing, the October Sugar 33 cent calls could be sold for about 0.22, or $246.40 per option, not including commissions. The … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex – EUR/USD At 3-week High As ECB Buys Italian, Spanish Bonds

Posted: 17 Aug 2011 07:16 AM PDT

Forexpros – The euro was up against the broadly weaker U.S. dollar on Wednesday, climbing to a three-week high amid market talk that the European Central Bank was purchasing Spanish and Italian sovereign bonds.<br /><br />EUR/USD hit 1.4516 during U.S. morning trade, the highest since July 27; the pair subsequently consolidated at 1.4488, gaining 0.57%.<br /><br />The pair was likely to find support at 1.4250, the low of August 15 and short-term resistance at 1.4535, … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

AUD/NZD Continues Bottom Building Process

Posted: 17 Aug 2011 07:07 AM PDT

Prev: Elliott Wave Perspective of the AUD/NZD…(8/1)
AUD/NZD

Bullish Breakout:
- The AUD/NZD is seen in the 1H chart breaking above a correction decline, attempting develop another bullish swing after a sharp one August 12-15 (last Friday and this Sunday session).
- Note that support at 61.8% retracement near 1.25, which is just above the 200SMA. This signals bullish continuation.
- We see a sharp rejection of the bullish attempt right now, so lets monitor the consolidation zone that should … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Move Beats By A Penny

Posted: 17 Aug 2011 07:05 AM PDT

Online real estate services provider Move, Inc. (NASDAQ:MOVE) reported revenues of $48.9 million in the second quarter of 2011, up 1.2% year over year.
 
Adjusted EBITDA (Earnings from continuing operations before interest, taxes, stock-based compensation and charges, depreciation, amortization and other non-recurring charges) came in at $6.1 million or 12.6% of revenues compared to $5.6 million or 11% of total revenues in the year-ago quarter.  
 
Net income came in at $1.2 million … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

FDA Approves Abbott’s Drug

Posted: 17 Aug 2011 07:05 AM PDT

Abbott Laboratories (NYSE:ABT) recently announced that the US Food and Drug Administration (FDA) approved two new strengths of Lupron Depot-PED (leuprolide acetate for depot suspension) for the treatment of children with central precocious puberty (CPP). These new strengths are for three-month administration.
CPP causes children to enter puberty early in life, resulting in the development and progression of secondary sex characteristics such as breast development in females and genital development … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Gold Futures Edge Higher On Dollar Weakness, Euro Zone Debt Woes

Posted: 17 Aug 2011 07:00 AM PDT

Forexpros – Gold futures were higher on Wednesday, hovering close to the psychologically-important level of USD1,800-an-ounce as the U.S. dollar came under broad selling pressure and amid ongoing concerns over the euro zone&rsquo;s sovereign debt crisis.<br /><br />On the Comex division of the New York Mercantile Exchange, gold futures for October delivery traded at USD1,792.65 a troy ounce during U.S. morning trade, edging 0.32% higher.&nbsp;&nbsp;&nbsp; <br … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Haven Flows Back Into Swiss Franc, Out Of U.S. Dollar

Posted: 17 Aug 2011 06:48 AM PDT

Fundamental Headlines
• S&P 500 Futures Rise as Commodities Gain – Bloomberg
• Mortgage Applications Rise on Refinance – CNBC
• SNB Boosts Steps to Check Franc's Rise – Financial Times
• Banks, Exchanges Hit by Merkel/Sarkozy Plans – Reuters
• World Stocks Dip on Euro-zone Disappointment – Reuters
European Session Summary
The Swiss National Bank balked at their threat to peg their currency to the Euro, boosting the safe haven currency, as market participants began to … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

EUR/JPY And GBP/JPY Are Attempting To Build Momentum In Bullish Channels

Posted: 17 Aug 2011 06:42 AM PDT

EUR/JPY

Rising Channel:
- Previous Update: EUR/JPY Developing Short-term Flag Pattern…(8/16)
- The EUR/JPY is seen in the 1H chart rallying in a rising channel.
- The latest price action is a cross above the 200SMA, and a flattening or consolidation. During this consolidation, the market showed resolve of EUR/JPY bulls as the decline was supported above 38.2% retracement, and the 200SMA.
- Note the 1H RSI reading hanging above the 40 level. A break back above 60 confirms maintenance of the … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex – USD/JPY Extends Losses, Hover Close To Post-war Low

Posted: 17 Aug 2011 06:39 AM PDT

Forexpros – The U.S. dollar extended losses against the yen on Wednesday, hovering close to the pair&rsquo;s all-time low following U.S. data showing producer price inflation rose more-than-expected last month.<br /><br />USD/JPY hit 76.40 during U.S. morning trade, the lowest since August 11; the pair subsequently consolidated at 76.42, shedding 0.49%.<br /><br />The pair was likely to find support at 76.28, the low of August 1 and resistance at 77.09, the high of … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Inflation Is Not The Big Worry

Posted: 17 Aug 2011 06:35 AM PDT

Stocks will likely drift today given the relatively thin economic calendar. To be fair, we do have the July wholesale inflation reading this morning, which was a bit on the hotter side. But pricing pressures are not on top of the market’s worries at this stage.

The pullback in commodity prices in recent days has made last month’s inflation readings, whether in this morning’s PPI or tomorrow’s CPI, relatively dated. The market will be able to see through the transient nature of the pressures in … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex – USD/CAD Drops To 1-week Low As Greenback Pressured

Posted: 17 Aug 2011 06:29 AM PDT

Forexpros – The broadly weaker U.S. dollar was down against its Canadian counterpart on Wednesday, dropping to a one-week low as risk appetite improved following the disappointing outcome of the previous day&rsquo;s France-German summit meeting. <br /><br />USD/CAD hit 0.9775 during U.S. morning trade, the lowest since August 10; the pair subsequently consolidated at 0.9797, declining 0.27%.<br /><br />The pair was likely to find support at 0.9765, the low of … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Inflation Is Not The Big Worry

Posted: 17 Aug 2011 06:20 AM PDT

Stocks will likely drift today given the relatively thin economic calendar. To be fair, we do have the July wholesale inflation reading this morning, which was a bit on the hotter side. But pricing pressures are not on top of the market’s worries at this stage.

The pullback in commodity prices in recent days has made last month’s inflation readings, whether this morning’s PPI or tomorrow’s CPI, relatively dated. The market will be able to see through the transient nature of the pressures in … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

EA To Enthrall Gamers In Gamescom

Posted: 17 Aug 2011 06:20 AM PDT

Electronic Arts Inc. (NASDAQ:ERTS), or EA as it is popularly known, will enthrall gaming enthusiasts with its latest games in Gamescom 2011.
The event that is held in Cologne, Germany, will have 350 gaming stations where gamers can experience the thrill of EA's upcoming as well as some of the released blockbuster games. Some of the games that would be put to play are FIFA 12, Battlefield3, STAR WARS: The Old Republic and Need for Speed The Run. Also, games like The Sims Social, the game for social … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Stock Market News Briefs: Aecom Technology, Dick’s Sporting Goods Inc, Home Depot, Renaissance Learning, TJX Companies, Wal-Mart Stores

Posted: 17 Aug 2011 06:20 AM PDT

    TJX Cos. (NYSE:TJX) posted Q2 EPS of $0.90, beating the Zacks Consensus Estimate of $0.89 per share. Revenues for the quarter rose 7.9% year-over-year to $5.47 billion

    JinkoSolar Holding (JKS) reported Q2 EPS of $1.38, lower than the Zacks Consensus Estimate of $1.45 per share. Revenues for the quarter rose 152% year-over-year to $350.6 million

    Towers Watson (TW) posted Q4 EPS of $1.06, surpassing the Zacks Consensus Estimate of … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

NRG Eyes Retail Business Growth

Posted: 17 Aug 2011 06:20 AM PDT

NRG Energy Inc. (NYSE:NRG) has agreed to buy a Philadelphia-based retail electricity and natural gas provider, Energy Plus Holdings LLC, for $190 million in cash. The company's decision to buy privately held Energy Plus stems from the opportunity to expand its retail business in the northeastern part of the country.
Based in Philadelphia, Energy Plus has a proven ability to successfully enroll attractive customer groups through its exclusive marketing partnerships with leading loyalty program … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Swiss Franc: The Downside Prevails

Posted: 17 Aug 2011 06:18 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: 17 Aug 2011 06:18 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: 17 Aug 2011 06:18 AM PDT

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

Euro: The Downside Prevails

Posted: 17 Aug 2011 06:18 AM PDT

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

Morning Market Report

Posted: 17 Aug 2011 06:15 AM PDT

08/17/11 The latest in news, commentary, & information on what’s moving the US equities markets just prior to the NYSE opening bell including: strong earnings from Staples & a rise in producer … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Canadian Foreign Securities Purchases Decline Unexpectedly

Posted: 17 Aug 2011 06:09 AM PDT

Forexpros – ign investors&rsquo; acquisitions of Canadian securities declined unexpectedly in June, as acquisitions of foreign stocks were partially offset by sales of foreign debt securities, official data showed on Monday.<br /><br />In a report, Statistics Canada said that foreign investment fell to a seasonally adjusted CAD3.46 billion in June, confounding expectations for acquisitions of CAD10.33 billion.<br /><br />The previous month&rsquo;s figure was … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

GOL Records Sharp July Load Factor

Posted: 17 Aug 2011 06:05 AM PDT

GOL Linhas A (NYSE:GOL), recorded demand growth of 16.2% on its total route network in July, with an increase in its load factor to 75.8%; up 9.9 percentage points (p.p) year over year and up 10.2 p.p. from a month ago.
Domestic market demand grew by 19.6% over a year-ago period. The increase was attributable to growth in airline industry capacity. Demand moved up by 26.7% compared with the previous month due to increased seasonal holiday trips in July and more aircraft operating days during the … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

EUR/USD’s Bullish Targets Are 1.4555, 1.4695 And 1.4940; 1.4420 Is Support

Posted: 17 Aug 2011 06:05 AM PDT

Prev: EUR/USD Maintaining Bullish Momentum After US Industrial Production (8/16)
EUR/USD

1.45 Resistance:
- The market is near 1.45 at the beginning of today's US session.
- Strength continues after a throwback was supported near 1.4350.
- It is breaking above yesterday's high, and reaching to 1.45.
- The RSI remained above 40, and shows maintenance of the bullish momentum. With a push back above 70, it is confirming the bullish continuation in the short-term.
- PPI data is the only … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Tetra Tech Acquires Metalica

Posted: 17 Aug 2011 06:05 AM PDT

Tetra Tech Inc. (NASDAQ:TTEK) made its first acquisition in Latin America of Metalica Consultores, S.A., an engineering firm of Santiago, Chile. Metalica offers consulting engineering services to mining and natural resources companies and has about 60 employees. The terms of the acquisition were not disclosed.
For several years, Tetra Tech has been providing its services to global mining clients in Chile and Latin America.  With the addition of Metalica, the company has expanded its presence in … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex Trading: EURUSD Finds Profit Taking Sellers Against Trendline Resistance

Posted: 17 Aug 2011 06:04 AM PDT

The 1.4512 level is topside trendline resistance for the EURUSD.  The high came in at 1.4506 and the price has rotated back down. 
The price in the EURUSD trended higher in the London sesssion with 3 legs to the upside. The first two legs (see chart below), held the 38.2% retracement of the move higher at the 1.43756 and the trend resumed.  The second  leg higher held support against the 38.2% at the 1.44238, and the trend resumed.  The third and most recent leg ran … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

U.S. PPI Rises More-than-expected In July

Posted: 17 Aug 2011 06:02 AM PDT

Forexpros – Producer price inflation in the U.S. rose more-than-expected in July, official data showed on Wednesday.<br /><br />In a report, the Bureau of Labor Statistics said that PPI rose by a seasonally adjusted 0.2% in July, after declining by 0.4% in June.&nbsp; <br />&nbsp;<br />Analysts had expected PPI to rise 0.1% in July.<br /><br />Year-over-year, the producer price index rose at an annualized rate of 7.2% in July, above expectations for … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

U.S. Futures Hold On To Gains After PPI Data; Dow Up 0.3%

Posted: 17 Aug 2011 06:00 AM PDT

Forexpros – U.S. stock futures pointed to a higher open on Wednesday, as stronger-than-expected earning reports from retailers such as Staples and Target boosted market sentiment. <br /><br />Ahead of the open, the Dow Jones Industrial Average futures pointed to a gain of 0.3%, the S&amp;P 500 futures rose 0.45%, while the Nasdaq 100 futures advanced 0.25%.<br /><br />Stock index futures held on to gains after official data showed that both U.S. producer price … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Kinross Offers $1B Debt Pricing

Posted: 17 Aug 2011 05:35 AM PDT

Gold Miner, Kinross Gold Corp. (NYSE:KGC) announced the pricing of an offering of $1 billion in debt for general corporate purposes.
The offering includes $250 million principal amount of 3.625% senior notes due 2016, $500 million principal amount of 5.125% senior notes due 2021 and $250 million principal amount of 6.875% senior notes due 2041. The offering is expected to close on August 22, 2011.
As of June 30, 2011, Kinross had long-term debt of $465.6 million.
Recently, Kinross reported record … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Research In Motion To Opt For 4G

Posted: 17 Aug 2011 05:35 AM PDT

Research In Motion Ltd. (NASDAQ:RIMM), the struggling smartphone manufacturer, will launch its first 4G BlabkBerry device Torch 9810 with AT&T (NYSE:T) in August 21, 2011. Torch 9810, which will be run on BlackBerry 7.0 operating system, will have a full touch screen display and QWERTY keyboard. It will cost $49 for a 2-year contract.
4G venture is a desperate attempt by Research In Motion to streamline its struggling smartphone business, which was once considered as the most sought after mobile … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex – Dollar Under Pressure Vs. Rivals As Risk Appetite Recovers

Posted: 17 Aug 2011 05:03 AM PDT

Forexpros – The broadly weaker U.S. dollar was down all of its major counterparts on Wednesday, as risk appetite recovered following the disappointing outcome of the previous day&rsquo;s Franco-German summit meeting.<br /><br />During European afternoon trade, the greenback was down against the euro, with EUR/USD gaining 0.6% to hit 1.4494.<br /><br />The euro found support amid speculation grew the European Central Bank was buying Italian and Spanish government … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex – EUR/USD Hits 3-week High On ECB Bond-buying Speculation

Posted: 17 Aug 2011 04:52 AM PDT

Forexpros – The euro jumped to a three-week high against the U.S. dollar on Wednesday, erasing earlier losses, amid speculation the European Central Bank was purchasing Spanish and Italian sovereign debt.<br /><br />EUR/USD pulled back from 1.4324 during European afternoon trade, a two-day low to hit 1.4490, the highest since July 27; the pair subsequently consolidated at 1.4478, up 0.49% on the day. <br /><br />The pair was likely to find support at 1.4250, the low of … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Barely Afloat

Posted: 17 Aug 2011 04:40 AM PDT

(Image: source)
In “Walmart Warns on US Weakness,” the Financial Times provides some front-line commentary on how the consumer is really doing nowadays:
Walmart, the biggest US retailer by revenues, warned on Tuesday that persistent weakness in the US economy was putting pressure on its low income consumers who are increasingly worried about unemployment and becoming more reliant on government assistance.
The struggling US economy is continuing to take its toll on Walmart's … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex – GBP/USD Turns Higher Despite Dovish BOE Minutes

Posted: 17 Aug 2011 04:12 AM PDT

Forexpros – The pound turned higher against the U.S. dollar on Wednesday, erasing losses suffered in the wake of the release of the minutes from the Bank of England&rsquo;s August policy meeting and after disappointing U.K. employment data.&nbsp; <br /><br />GBP/USD pulled back from 1.6347 during European afternoon trade, the daily low; the pair subsequently consolidated at 1.6458, up 0.02% on the day. <br /><br />Cable was likely to find support at 1.6322, … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex – EUR/CHF Pulls Back Sharply As SNB Stops Short Of Peg

Posted: 17 Aug 2011 03:46 AM PDT

Forexpros – The euro erased gains against the Swiss franc on Wednesday, pulling back from a three-week high, after the Swiss National Bank announced further measures to weaken the franc, but stopped short of pegging the currency to the euro.<br /><br />EUR/CHF pulled back from 1.1547 during late European morning trade, the highest since July 27, to hit a daily low of 1.1219, following the SNB&rsquo;s announcement. <br /><br />The pair subsequently consolidated at … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex – USD/JPY Falls To 76.50, No BOJ Action Seen

Posted: 17 Aug 2011 03:27 AM PDT

Forexpros – The U.S. dollar was down against the yen on Wednesday, continuing to trade below levels that prompted the Bank of Japan to intervene in the currency market, as the disappointing outcome of the previous day&rsquo;s Franco-German summit meeting boosted demand for safe haven assets. <br /><br />USD/JPY hit 76.50 during European morning trade, the lowest since August 11; the pair subsequently consolidated at 76.56, declining 0.3%.<br /><br />The pair was … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards
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