Wednesday, August 10, 2011

DailyMarkets.com - Crude Oil Climbs On Fed Low Rate Pledge, Falling U.S. Supplies

DailyMarkets.com - Crude Oil Climbs On Fed Low Rate Pledge, Falling U.S. Supplies


Crude Oil Climbs On Fed Low Rate Pledge, Falling U.S. Supplies

Posted: 10 Aug 2011 03:05 AM PDT

Forexpros – Crude oil futures were up on Wednesday, extending gains from the previous session after the Federal Reserve pledged to keep rates at ultra-low levels for an extended period, while industry data showed that U.S. oil supplies fell the most since June last week.<br /><br />On the New York Mercantile Exchange, light, sweet crude futures for delivery in September traded at USD81.98 a barrel during European morning trade, gaining 0.85%.&nbsp; <br /><br />It … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Forex – USD/JPY Falls To Pre-intervention Level, BoJ Eyed

Posted: 10 Aug 2011 02:50 AM PDT

Forexpros – The U.S. dollar was down against the yen on Wednesday, falling below the level that prompted Japanese officials to intervene in the currency market last week, after the Federal Reserve pledged to keep rates at ultra-low levels for an extended period. <br /><br />USD/JPY hit 76.47 during late European morning trade, the lowest since August 1; the pair subsequently consolidated at 76.64, retreating 0.42%.<br /><br />The pair was likely to find short-term … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Forex – USD/CHF Pares Gains As SNB Move Short-lived

Posted: 10 Aug 2011 02:27 AM PDT

Forexpros – The U.S. dollar was up against the Swiss franc on Wednesday, spiking higher after the Swiss National Bank announced further measures to weaken the franc, before paring some of those gains as its effect on the market was short-lived.<br /><br />USD/CHF pulled back from 0.7331, the daily high, to hit 0.7237 during European morning trade, still up 0.35% on the day. <br /><br />The pair was likely to find short-term support at 0.7066, Tuesday&rsquo;s low … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Forex – GBP/USD Falls To Daily Low Ahead Of BoE Inflation Report

Posted: 10 Aug 2011 01:58 AM PDT

Forexpros – The pound was down against the U.S. dollar on Wednesday, slumping to a daily low ahead of the Bank of England&rsquo;s quarterly inflation report and subsequent press conference by Governor Mervyn King later in the day.<br /><br />GBP/USD hit 1.6231 during early European trade, a daily low; the pair subsequently consolidated at 1.6237, shedding 0.48%.<br /><br />Cable was likely to find support at 1.6175, Tuesday&rsquo;s low and three-week low and … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Forex – Dollar Higher Vs. Most Rivals On Fed Pledge, SNB Action

Posted: 10 Aug 2011 01:38 AM PDT

Forexpros – The U.S. dollar was higher against most of its major counterparts on Wednesday, after the Federal Reserve pledged to keep rates at ultra-low levels &ldquo;at least&rdquo; through mid-2013, while the Swiss franc weakened after the Swiss National Bank took further measures to stem the currency&rsquo;s strength.<br /><br />During European morning trade, the greenback was up against the euro, with EUR/USD shedding 0.12% to hit 1.4357.<br /><br … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Hong Kong Holds Interest Rate Unchanged At 0.50%

Posted: 10 Aug 2011 01:35 AM PDT

The Hong Kong Monetary Authority held its base interest rate unchanged at 0.50% following the decision of the US Federal Reserve to leave the fed funds rate unchanged at 0-0.25% until mid 2013.  Norman Chan, HKMA Chief Executive, said previously: ”I don’t think the ratings downgrade should impact the US government bond interest rate. International investors will continue to view US government debt as the safest and the most liquid tool for investment and … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Swiss National Bank Takes Further Measures Against Currency

Posted: 10 Aug 2011 01:19 AM PDT

The Swiss National Bank (SNB) announced a further set of measures to halt a surging Swiss franc (CHF) as safe haven buying has driven a substantial rise.  The SNB said it would “significantly increase the supply of liquidity to the Swiss franc money market” and aims to “rapidly expand banks’ sight deposits at the SNB from CHF 80 billion to CHF 120 billion.  The SNB will also conduct foreign exchange swap transactions, a measure that was last used in 2008.  The Bank kept … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Gold Futures Hover Below Record High On Fed Rates Pledge

Posted: 10 Aug 2011 01:07 AM PDT

Forexpros – Gold futures were up for a fourth day on Wednesday, hovering below the previous session&rsquo;s record high after the Federal Reserve pledged to keep rates at ultra-low levels &ldquo;at least&rdquo; through mid-2013.&nbsp; <br /><br />On the Comex division of the New York Mercantile Exchange, gold futures for October delivery traded at USD1,762.05 a troy ounce during early European trade, jumping 1.43%.&nbsp; <br /><br />It earlier rose … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Forex – NZD/USD Dips Amid Global Growth Concerns

Posted: 10 Aug 2011 12:44 AM PDT

Forexpros – The New Zealand dollar dipped against its U.S. counterpart on Wednesday, as concerns over the global economic recovery reduced demand for growth-linked currencies, but losses were limited after the Federal Reserve pledged to keep rates at ultra-low levels for an extended period. <br /><br />NZD/USD pulled back from 0.8415, the highest since August 8, to hit 0.8351 during late Asian trade, shedding 0.26% on the day. <br /><br />The pair was likely to find … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Forex – AUD/USD Edges Higher After China Trade Data, Fed

Posted: 10 Aug 2011 12:31 AM PDT

Forexpros – The Australian dollar edged higher against its U.S. counterpart on Wednesday, climbing to a two-day high after better-than-expected Chinese trade data, while a pledge by the Federal Reserve to keep rates at ultra-low levels weighed on the greenback. <br /><br />AUD/USD hit 1.0414 during late Asian trade, the highest since August 8; the pair subsequently consolidated at 1.0375, gaining 0.21%.<br /><br />The pair was likely to find support at 0.9925, … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Asia Stocks Rebound From Route After Fed Pledge; Nikkei Up 1.1%

Posted: 10 Aug 2011 12:05 AM PDT

Forexpros – Asian stock markets were broadly higher on Wednesday, rebounding from the previous day&rsquo;s sharp drop as sentiment was lifted by strong overnight gains on Wall Street and after the Federal Reserve pledged to keep rates at ultra-low levels &ldquo;at least&rdquo; through mid-2013.&nbsp; <br /><br />During late Asian trade, Hong Kong’s Hang Seng Index jumped 2.5%, Australia&rsquo;s ASX/200 index rallied 2.7%, while Japan&rsquo;s Nikkei 225 … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Forex – EUR/USD Dips But Losses Limited After Fed Rates Pledge

Posted: 09 Aug 2011 11:39 PM PDT

Forexpros – The euro edged lower against the U.S. dollar on Wednesday, pulling back from a two-day high, but losses were limited after the Federal Reserve pledged to keep rates at ultra-low levels &ldquo;at least&rdquo; through mid-2013.&nbsp; <br /><br />EUR/USD retreated from 1.4397, the highest since August 8, to hit 1.4322 during late Asian trade, shedding 0.36% on the day. <br /><br />The pair was likely to find support at 1.4054, the low of August 5 … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Momentum Stock: Huron Consulting Group, Inc.

Posted: 09 Aug 2011 11:05 PM PDT

Huron Consulting Group, Inc. (NASDAQ:HURN) has held up well in the recent sell off, finding support from a long-term trend line and strong Q2 results that included a 53% earnings surprise. With estimates on the rise and a bullish growth projection, this Zacks #1 Rank stock still has momentum.
Company Description
Huron Consulting Group, Inc. provides operational and financial consulting services in the United States. The company was founded in 2002 and has a market cap of $650 million.
Huron has been … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Aggressive Growth Stock: Team, Inc.

Posted: 09 Aug 2011 11:05 PM PDT

Team, Inc. (NASDAQ:TISI) is coming off of a record setting quarter and year. Growth rates just keep getting better and thanks to the recent market downturn, shares are priced at a discount.
TISI is currently a Zacks #1 Rank (Strong Buy) and has some serious potential.
Company Description
Team, Inc. provides industrial services for high-temperature and high-pressure piping systems and vessels. Most customers are in the refining, pipeline and other heavy industrial industries.
Beat the Street
On Jul … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Bull Of The Day: Western Refining (WNR)

Posted: 09 Aug 2011 11:05 PM PDT

We are upgrading Western Refining, Inc. (NYSE:WNR) shares to Outperform from Neutral, based on favorable trends in the refining industry along with company initiatives to improve reliability and reduce operating costs. An uptick in economic activity overseas and prospects for stronger fuel demand in the domestic market make us optimistic about the sector.
Additionally, we believe Western Refining’s strategic actions to improve its performance and competitiveness in a cost-effective manner will … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Bear Of The Day: Cooper Tire & Rubber (CTB)

Posted: 09 Aug 2011 11:05 PM PDT

Cooper Tire & Rubber (NYSE:CTB) reported second quarter income of $0.18 per share from continuing operations, down 40% from last year’s $0.30. Earnings per share were also much lower than the Zacks Consensus Estimate of $0.46. Cooper Tire & Rubber faces intensifying competition and soaring material costs, which can be regarded as major threats for the company.
Moreover, its deteriorated cash balance is likely to limit the company’s business expansion plans. Considering all these elements, … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Growth & Income Stock: California Water Service Group

Posted: 09 Aug 2011 11:05 PM PDT

It might not be the most interesting stock out there, but California Water Service Group (NYSE:CWT) offers investors stability during a time of market chaos.
The company has paid a remarkable 266 consecutive quarterly dividends and its stock currently yields 3.4% – about 120 basis point above the 10-year Treasury note.
Analysts are projecting solid earnings growth over the next two years too. With shares trading at a discount to the industry average, CWT offers great total return potential.
More … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Forex – EUR/USD Down During The Asian Session

Posted: 09 Aug 2011 10:55 PM PDT

Forexpros – The Euro was lower against the U.S. Dollar on Wednesday.<br/><br/> EUR/USD was trading at 1.4345, down 0.21% at time of writing.<br/><br/> The pair was likely to find support at 1.4070, Friday&rsquo;s low, and resistance at 1.4426, Monday&rsquo;s high.<br/><br/> Meanwhile, the Euro was up against the British Pound and down against the Japanese Yen, with EUR/GBP gaining 0.01% to hit 0.8811 and EUR/JPY falling 0.28% to hit … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Forex – GBP/USD Down In Asian Trade

Posted: 09 Aug 2011 10:25 PM PDT

Forexpros – The British Pound was lower against the U.S. Dollar on Wednesday.<br/><br/> GBP/USD was trading at 1.6276, down 0.25% at time of writing.<br/><br/> The pair was likely to find support at 1.6177, Tuesday&rsquo;s low, and resistance at 1.6475, Monday&rsquo;s high.<br/><br/> Meanwhile, the British Pound was down against the Euro and the Japanese Yen, with EUR/GBP gaining 0.03% to hit 0.8812 and GBP/JPY falling 0.25% to hit … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Forex – EUR/CHF Up In Asian Trading Hours

Posted: 09 Aug 2011 09:55 PM PDT

Forexpros – The Euro was higher against the Swiss Franc on Wednesday.<br/><br/> EUR/CHF was trading at 1.0394, up 0.27% at time of writing.<br/><br/> The pair was likely to find support at 1.0083, Tuesday&rsquo;s low, and resistance at 1.0994, Monday&rsquo;s high.<br/><br/> Meanwhile, the Euro was down against the U.S. Dollar and the Japanese Yen, with EUR/USD shedding 0.19% to hit 1.4348 and EUR/JPY falling 0.25% to hit … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Forex – USD/CHF Up During Asian Trade

Posted: 09 Aug 2011 09:25 PM PDT

Forexpros – The U.S. Dollar was higher against the Swiss Franc on Wednesday.<br/><br/> USD/CHF was trading at 0.7240, up 0.39% at time of writing.<br/><br/> The pair was likely to find support at 0.7074, Tuesday&rsquo;s low, and resistance at 0.7716, Friday&rsquo;s high.<br/><br/> Meanwhile, the U.S. Dollar was up against the Euro and down against the Japanese Yen, with EUR/USD shedding 0.27% to hit 1.4336 and USD/JPY falling 0.09% to hit … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Can China’s Trade Balance Help Risk Sentiment In Asian Trading

Posted: 09 Aug 2011 09:03 PM PDT

China's trade balance grew in July to $31.5 billion from $22.27 billion in June. It also surpassed the $26.0 billion expected by economists polled by Dow Jones Newswire.

Exports were up 20.4% compared to a year ago, and imports were up 22.9%, showing increases in both local demand and foreign demand for Chinese goods. Both are positive for the global recovery as it is China's strong growth that has helped to offset the weak growth seen in the US, Europe, UK, and Japan – the developed … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


EUR/USD’s Inverted Head And Shoulders Scenario Materializing

Posted: 09 Aug 2011 08:38 PM PDT

Prev: EUR/USD's Double Bottom and Head and Shoulders Scenario (8/9)
EUR/USD

- EUR/USD's double bottom and the head and shoulder scenario is materializing.
- The break above 1.4370 opens up the 1.4450, 1.4535 pivots as this week's targets.
- More aggressively, there is also a pattern breakout projection towards 1.4650. A swing projection targets 1.4740.
- The RSI reading in the 4H chart has been stuck between 40 and 60, and a clear break above 60, preferably along with a tag above 70, … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Gold Futures Climb In Asian Trade

Posted: 09 Aug 2011 08:08 PM PDT

Forexpros – Gold futures continued to rise in mid-day Asian trade Wednesday, dropping from record highs but settling higher as the U.S. Federal Reserve announced it would be maintaining its current ultra-low interest rates.<br /><br />On the Comex division of the New York Mercantile Exchange, gold futures for October delivery traded at USD1,757.35 a troy ounce during Asian mid-day trade, up 1.14%. <br … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


A Gartley Spotted In The AUD/USD During The Asian Session

Posted: 09 Aug 2011 07:59 PM PDT

Prev: AUD/USD Stalls at Parity; a Pullback Ahead of the FOMC Meeting (8/9)
AUD/USD

ABC; Gartley:
- Following an earlier bounce from the 1.0 or parity level, the AUD/USD is in a second upswing back towards 1.04 area.
- This is also 78.6% retracement, and notwithstanding the sharp candle earlier that followed the FOMC announcement, the AUD/USD has completed a Gartley pattern. This is basically an ABC correction where C=A and ends at a fibonacci retracement level like 61.8%, or in this case … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Forex – USD/JPY Falls In Mid-day Asian Trade

Posted: 09 Aug 2011 07:43 PM PDT

Forexpros – The Japanese yen rebounded to gain against the U.S. dollar in Asian trade Wednesday, following a brief dip as the U.S. Federal Reserve vowed to maintain its easy money policy. <br /><br />In early Asian trade USD/JPY hit 77.31, the pair&rsquo;s highest since Monday; the pair subsequently consolidated at 76.88, falling 0.11%. &nbsp;<br /><br />The pair was likely to find support at 76.79, last Wednesday&rsquo;s low, and resistance at 77.71, … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Asian Stocks Advance In Early Trade; Nikkei Rises 1.8%

Posted: 09 Aug 2011 07:06 PM PDT

Forexpros – Asian stocks moved broadly higher Tuesday, following Wall Street&rsquo;s overnight rebound and encouraged by the U.S. Federal Reserve decision to keep interest rates low through the middle of 2013.<br />&nbsp;<br />During early Asian trade, Hong Kong&rsquo;s Hang Seng Index picked up 3.4% to 19,993.78, Japan&rsquo;s Nikkei 225 Index rose 1.8% 9,103.54, Australia&rsquo;s S&amp;P/ASX 200 added 2.7% to 4,142.60 and South Korea&rsquo;s Kospi … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Crude Oil Futures Gain In Asian Trade

Posted: 09 Aug 2011 06:11 PM PDT

Forexpros – Crude oil futures rose in early Asian trade Tuesday, aided by a rebound on Wall Street and a commitment from the U.S. Federal Reserve to maintain its easy money policy.<br /><br />On the New York Mercantile Exchange light, sweet crude futures for September delivery traded at USD81.22 a barrel during early Asian trade, up 0.06%, after hitting a daily low of USD81.06.<br /><br />Oil prices have been down USD13 a barrel since the beginning of August.<br … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Oil Technical Analysis For August 10, 2011

Posted: 09 Aug 2011 10:06 AM PDT

By CommoditiesMansion.com

 
Light Sweet Crude
The CL contract fell hard in Asian trading, but rebounded during the Tuesday session to form a perfect hammer at the $80 support level. This is a perfect place to see this kind of action, and as a result, we think a bounce is coming. If we get above the Tuesday highs – we like buying.

Brent
The Brent market fell below the crucial $102.50 level, but managed to pop back over it to form a massive hammer on the daily chart. This is a very … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Natural Gas Technical Analysis For August 10, 2011

Posted: 09 Aug 2011 10:04 AM PDT

By CommoditiesMansion.com

 
The natural gas markets rose again on Tuesday as traders began to feel better about the market environment in general around the world. We had seen a massive selloff in various markets, and a bounce was inevitable. The natural gas market is still below massive resistance, so we are not looking to buy – only to sell on resistive action around the $4 – $4.20 areas.

Originally posted here

The definitive site about crude oil and crude oil news: … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Gold Technical Analysis For August 10, 2011

Posted: 09 Aug 2011 10:03 AM PDT

By CommoditiesMansion.com

 
The gold markets skyrocketed during the Tuesday session as the worlds markets rocked back and forth. The end of the session saw the market pullback, and we have formed a massive shooting star at the $1,750 area. The candle sets us up for a possible pullback, which would be very healthy at this point. However…..we do not recommend selling this market, only waiting until we get supportive action below in order to buy gold at a cheaper price. We are … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Gold Daily Fundamental Analysis For August 10, 2011

Posted: 09 Aug 2011 01:52 AM PDT

By CommoditiesMansion.com
Gold prices extended the rally on Tuesday to reach a new record high above $1770 an ounce, as demand for safety remained strong after the Standard & Poor's rating agency announced last Friday that it downgraded the United States longstanding AAA rating to AA+, which spread a huge wave of pessimism across global markets on Monday, pushing equity indexes to drop sharply and boosted demand for gold as a safe haven, and continued to provide strong support for gold … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Crude Oil Daily Fundamental Analysis For August 10, 2011

Posted: 09 Aug 2011 01:52 AM PDT

By CommoditiesMansion.com
Crude oil prices rebounded on Tuesday to the upside after falling earlier in the day to reach the lowest level since September 2010, where rising concerns over the outlook for global growth spread a huge wave of pessimism across global financial markets, and weighed down heavily on crude oil prices on Tuesday.
Nonetheless, crude oil prices rose back and recovered all of the losses amid hopes the FOMC will signal some sort of support in order to ease concerns in … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Natural Gas Daily Fundamental Analysis For August 10, 2011

Posted: 09 Aug 2011 01:51 AM PDT

By CommoditiesMansion.com
Natural gas prices rose back on Tuesday, rebounding from the lowest level in five months amid weather forecasts that signaled temperatures will be higher than normal in the Ease and Midwest of the United States later this month, which boosted expectations of rising demand for power-plant fuel, pushing accordingly natural gas higher.
Natural gas prices have been dropping recently amid concerns over the outlook for growth in the United States, especially after the … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


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