DailyMarkets.com - Earnings Preview: DISH Network

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• Earnings Preview: DISH Network
• Fidelity Survives Downgrade Scare
• Federal Realty Tops, Guides Higher
• Ross’ July Sales Up
• ResMed’s Revs Grow, Margins Dip
• Gold Futures Pare Gains, Hover Below USD1,700 An Ounce
• Crude Oil Futures Tumble To 9-month Low Following S&P Downgrade
• Slouching Toward A Double Dip, For No Good Reason
• Target Sustains Healthy Sales
• Forex – EUR/CHF To Retest Record Low On EU Debt, U.S. Downgrade
• Dillard’s Comps Rises Once Again
• Stock Market News Briefs: American International Group, Applied Materials, Echelon, Priceline.com Incorporated, Procter & Gamble Company, UBS AG
• IBM Partners With Infor
• US Stocks Slide On S&P Downgrade
• Burton Malkiel: Don’t Panic About The Stock Market
• Forex – USD/CAD Close To 6-week High After S&P Downgrade
• Safe Havens Soar As European Crisis, U.S. Downgrade Stoke Risk-Aversion
• Swiss Franc: The Downside Prevails
• Australian Dollar: Technical Rebound In A Bearish Trend
• Canadian Dollar: Technical Rebound In A Bearish Trend
• Japanese Yen: Under Pressure
• British Pound: Under Pressure
• Euro: The Downside Prevails
• Morning Market Brief: S&P Downgrade & Gold Prices
• Nippon Reported Mixed 1Q FY 11
• Valeant Pharma Beats, Ups View
• ITW Impresses Owners, Ups Divided
• Sizing Up The Downgrade’s Impact
• NZD/USD Completes A 5-Wave Decline; 0.8120 Targeted Below 0.83
• Forex Trading: EURUSD Tests Support At The 1.4185 Level
• U.S. Stock Futures Plunge After U.S. Downgrade; Dow Tumbles 2%
• Further Thoughts On S&P’s Downgrade Of USA
• Brazil, China Top MON Growth List
• Caribou Coffee Tops, Ups Outlook
• High Value Contract Of ABB
• Euro Relief Fading Against USD, GBP, JPY, And CHF
• Forex – Dollar, Yen, Swiss Franc Higher As Risk Appetite Crumbles
• Forex – GBP/USD Steady After Pulling Back From 1-week High
• “Poor Standards”
• Forex – EUR/USD Turns Lower As ECB Plan Fails To Ease Concerns
• Crude Oil Set To Fall With S&P 500, Gold Gains On Safe-Haven Demand
• Forex – EUR/JPY Retreats As ECB Bond-buying Optimism Fades

Earnings Preview: DISH Network Posted: 08 Aug 2011 08:05 AM PDT DISH Network Corp.(NASDAQ:DISH) is scheduled to release its second quarter 2011 results on Tuesday, August 9, before the opening bell. The current Zacks Consensus Estimate for the second quarter is pegged at 77 cents per share, representing an annualized growth of 35.46%. With respect to earnings surprises over the trailing four quarters, DISH has outperformed the Zacks Consensus Estimate in all the four quarters. The average earnings surprise was a positive 13.31%, implying that the company has … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Fidelity Survives Downgrade Scare Posted: 08 Aug 2011 07:35 AM PDT Fidelity National Information Services Inc. (FIS) recently dodged a downgrade threat from rating agency Fitch, after the company abandoned its plans of acquiring British financial software company Misys Plc. Earlier, in late June, Florida-based Fidelity made a preliminary offer to buy Misys for approximately $2.27 billion. This prompted Fitch to put Fidelity's rating under review, with the possibility of a downgrade looming large. Misys, whose clientele comprises all of the world's top 50 … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Federal Realty Tops, Guides Higher Posted: 08 Aug 2011 07:35 AM PDT Federal Realty (FRT) reported second quarter 2011 FFO (funds from operations) of $64.3 million or $1.02 per share compared with $60.3 million or 98 cents per share in the year-earlier quarter. Funds from operations, a widely used metric to gauge the performance of REITs, is obtained after adding depreciation and amortization and other non-cash expenses to net income. Reported FFO per share beat the Zacks Consensus Estimate by 2 cents. Total revenue in the reported quarter increased to $136.3 … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Ross’ July Sales Up Posted: 08 Aug 2011 07:05 AM PDT Ross Stores Inc. (NASDAQ:ROST), the second largest off-price retailer of apparel and home accessories, reported a growth of 7% in comparable store sales for the four-week period ended July 30, 2011. The recent results were above the 2% gain in same-store sales in the prior-year month. However, July same-store sales came in better than the company’s forecast of a 2% to 3% growth for the month. For the month under review, sales increased 11% to $635 million from $573 million in the year-ago period. … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

ResMed’s Revs Grow, Margins Dip Posted: 08 Aug 2011 07:05 AM PDT ResMed Inc. (NYSE:RMD) reported adjusted EPS of 39 cents in the fourth quarter of 2011, beating the Zacks Consensus Estimate of 36 cents and 14.7% higher from the year-ago quarter. The company also reported fiscal 2011 EPS of $1.44, which increased 17% year over year. During the quarter, revenues increased 17% (up 11% at constant exchange rates or CER) year over year to $341.9 million. For fiscal 2011, ResMed reported a 14% growth (up13% at CER) in revenues to $1.2 billion. Based on a favorable … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Gold Futures Pare Gains, Hover Below USD1,700 An Ounce Posted: 08 Aug 2011 07:04 AM PDT Forexpros – Gold futures pared gains on Monday, easing off the record high as the U.S. dollar turned higher against the euro, while an historic downgrade of U.S. sovereign debt and ongoing fears over sovereign debt contagion in the euro zone supported safe haven demand.<br /><br />On the Comex division of the New York Mercantile Exchange, gold futures for October delivery traded at USD1,695.05 a troy ounce during U.S. morning trade, climbing 1.8%.&nbsp; <br /><br … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Crude Oil Futures Tumble To 9-month Low Following S&P Downgrade Posted: 08 Aug 2011 06:50 AM PDT Forexpros – Crude oil futures extended losses on Monday, tumbling to the lowest level since November after Standard &amp; Poor&rsquo;s downgraded the U.S. debt rating for the first time in history, underlining concerns over the economic outlook of the world&rsquo;s largest oil consumer.<br /><br />On the New York Mercantile Exchange, light, sweet crude futures for delivery in September traded at USD83.83 a barrel during U.S. morning trade, dropping 3.75%.&nbsp; … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Slouching Toward A Double Dip, For No Good Reason Posted: 08 Aug 2011 06:48 AM PDT Imagine your house is burning. You call the fire department but your call isn't answered because every fire fighter in town is debating whether there will be enough water to fight fires over the next ten years, even though water is plentiful right now. (Yes, there's a long-term problem.) One faction won't even allow the fire trucks out of the garage unless everyone agrees to cut water use. An agency that rates fire departments has just issued a downgrade, causing everyone to hoard … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Target Sustains Healthy Sales Posted: 08 Aug 2011 06:42 AM PDT Target Corporation (NYSE:TGT), the operator of general merchandise and food discount stores in the United States, recently posted better-than-expected sales results for the four-week period ended July 30, 2011. The rise in comparable-store sales was at the high end of management's expectation, reflecting strong sales in grocery category coupled with sales growth in health and beauty products. Besides, management hinted that back-to-school sales remained robust. The company's comparable-store … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex – EUR/CHF To Retest Record Low On EU Debt, U.S. Downgrade Posted: 08 Aug 2011 06:38 AM PDT Forexpros – The euro was down against the Swiss franc on Monday, re-approaching the record low as concerns over sovereign debt contagion in the euro zone and a downgrade of U.S. sovereign debt boosted safe haven demand.<br /><br />EUR/CHF hit 1.0784 during early U.S. trade, the daily low; the pair subsequently consolidated at 1.0830, tumbling 1.18%.<br /><br />The pair was likely to find support at 1.0707, Friday&rsquo;s record low and resistance at 1.1138, the … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Dillard’s Comps Rises Once Again Posted: 08 Aug 2011 06:35 AM PDT Dillard’s Inc. (NYSE:DDS), the leading apparel and home-furnishing retailer in the United States, reported a growth of 9.0% in same-store sales for the four weeks ended July 30, 2011. Merchandise sales for the period shot up 8.0% to $458.5 million compared with $425.2 million in the four-week period ended July 31, 2010. Sales in the Central region were better than the average total company sales, while it was soft in the Western region and remained consistent in the Eastern region. Category wise, … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Stock Market News Briefs: American International Group, Applied Materials, Echelon, Priceline.com Incorporated, Procter & Gamble Company, UBS AG Posted: 08 Aug 2011 06:35 AM PDT     LinkedIn Corporation Class A Co (LNKD) said it had earned profits for the second quarter in its first earnings report after it became a publicly traded company. The company reported adjusted earnings per share of $0.10 on sales of $121 million for the second quarter, as against the Zacks Consensus Estimate of a loss of $0.04 per share     Priceline.com Incorporated (NASDAQ:PCLN) reported non-GAAP earnings of $282.6 million, or $5.49 per share, for the three … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

IBM Partners With Infor Posted: 08 Aug 2011 06:35 AM PDT International Business Machines Corp. (NYSE:IBM) in partnership with Infor, a provider of business software and services, has developed a second set of integrated hardware and software solutions that would likely improve profitability and responsiveness for manufacturers. The new integrated solution is based on IBM's POWER7 systems and run on IBM i operating systems that combine Infor's Enterprise Resource Planning (ERP) LX, ERP XA and ERP System21 software. The system is easy to install and … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

US Stocks Slide On S&P Downgrade Posted: 08 Aug 2011 06:35 AM PDT 08/08/2011 Global equity markets tumble on the S&P downgrade of the credit rating of the United … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Burton Malkiel: Don’t Panic About The Stock Market Posted: 08 Aug 2011 06:31 AM PDT Corporate profits, the “mother’s milk of stocks, business success and job creation,” remain at record high levels. Burton Malkiel writing in today’s WSJ: “Is it time to sell all your stocks, which are still well above their lows of 2009? I think not. No one can predict what the stock market will do in this and coming weeks. Stocks may continue their decline, but I believe it would be a serious mistake for investors to panic and sell out. There are several reasons for optimism that in the long … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex – USD/CAD Close To 6-week High After S&P Downgrade Posted: 08 Aug 2011 06:26 AM PDT Forexpros – The U.S. dollar was up for a seventh day against its Canadian counterpart on Monday, trading close to a six-week high after Standard &amp; Poor&rsquo;s downgraded the U.S. debt rating, prompting investors to shun riskier assets.<br /><br />USD/CAD hit 0.9882 during U.S. morning trade, the pair&rsquo;s highest since June 28; the pair subsequently consolidated at 0.9870, gaining 0.51%.<br /><br />The pair was likely to find support at 0.9741, last … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Safe Havens Soar As European Crisis, U.S. Downgrade Stoke Risk-Aversion Posted: 08 Aug 2011 06:23 AM PDT The Japanese Yen, Swiss Franc and even the U.S. Dollar were lifted by significant demand in the Asian and European sessions as market participants fled higher yielding assets in return for safety following a tumultuous weekend in which Standard & Poor's downgraded U.S. government debt and the European sovereign debt crisis inched closer towards reaching its breaking point. On Monday, thus far, the Japanese Yen was the strongest currency, up the most against the New Zealand Dollar, the … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Swiss Franc: The Downside Prevails Posted: 08 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

Australian Dollar: Technical Rebound In A Bearish Trend Posted: 08 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

Canadian Dollar: Technical Rebound In A Bearish Trend Posted: 08 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: 08 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: 08 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: 08 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 Brief: S&P Downgrade & Gold Prices Posted: 08 Aug 2011 01:15 AM PDT 08/08/11 The latest in news, commentary, and information on what’s moving the US equities markets just prior to the NYSE opening bell including: the S&P downgrade of the US AAA credit rating & a new record for gold … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Nippon Reported Mixed 1Q FY 11 Posted: 08 Aug 2011 06:02 AM PDT Nippon Telegraph & Telephone Corp. (NYSE:NTT) declared encouraging mixed financial results for the first quarter of fiscal 2011 (ending March 31, 2012). Revenue increased due to strong execution of long-distance call and international operations. However, net income declined resulting from poor contribution from fixed-line calls. Nevertheless, the company's wireless services wing, NTT DoCoMo (NYSE:DCM) reported a surge in profit, which helped the parent Nippon to generate more operating income … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Valeant Pharma Beats, Ups View Posted: 08 Aug 2011 06:02 AM PDT Valeant Pharmaceuticals International's (NYSE:VRX) second quarter 2011 earnings of 68 cents per share (excluding special items but including stock based compensation expense) beat the Zacks Consensus Estimate by 3 cents and the year-ago earnings by 8 cents per share. Bottom-line growth was driven by improved revenues. Adjusted diluted earnings, however, included an extraordinary gain of 6 cents from the sale of investment in Cephalon Inc. (NASDAQ:CEPH). Revenues for the quarter were $609.4 million, … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

ITW Impresses Owners, Ups Divided Posted: 08 Aug 2011 06:02 AM PDT Illinois Tool Works Inc.'s (NYSE:ITW) board of directors approved a 6.0% hike in the company's quarterly dividend rate. The revised quarterly rate now stands at 36 cents per common share compared with 34 cents previously, resulting in an annual rate of $1.44 per common share. The revised dividend will be paid on October 12 to shareholders of record as of the close of business on September 30.   Illinois Tool Works follows a consistent policy of returning cash to shareholders via dividend … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Sizing Up The Downgrade’s Impact Posted: 08 Aug 2011 06:02 AM PDT Standard & Poor’s came through on its threat after all — downgrading the U.S. from triple-A to double-A-plus. While this headline-grabbing news comes at a particularly bad time for markets, it was hardly a surprise. The action had become all but inevitable after last weekend’s debt deal included fewer deficit-reduction measures than the rating agency had asked for. The downgrade will further unsettle markets that had started fretting about the U.S. economy’s growth prospects in recent … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

NZD/USD Completes A 5-Wave Decline; 0.8120 Targeted Below 0.83 Posted: 08 Aug 2011 05:59 AM PDT Prev: The NZD/USD Falls After a Gartley Retracement Pattern (7/28) NZD/USD True Reversal? - Both the Aussie and the Kiwi are showing significant declines. While the AUD/USD formed a double top, the NZD/USD does not have such topping action. - However the 4H chart does offer some clues to a reversal in place. - 1) 5-wave decline taking place (the motive wave may not be over yet, but likely). 2) RSI dipped below 30 (and with a bullish divergence, the motive wave might be over for a … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex Trading: EURUSD Tests Support At The 1.4185 Level Posted: 08 Aug 2011 05:51 AM PDT The EURUSD continued its slide lower in the early NY session and is currently testing the midpoint of the move up from the July low at the 1.41856 level. The decline seems to find buyers against the level, but will need to surpass some upside targets to lessen what is some consistent selling in the London session. The first level to get through would be the initial low in the NY session at the 1.4205. The next would be a move above the 1.4240 level which corresponds with a low in London and is … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

U.S. Stock Futures Plunge After U.S. Downgrade; Dow Tumbles 2% Posted: 08 Aug 2011 05:49 AM PDT Forexpros – U.S. stock futures pointed to a sharply lower open on Monday, as market sentiment was rattled following an historic downgrade of U.S. government debt by ratings agency Standard &amp; Poor&rsquo;s.<br /><br />Ahead of the open, the Dow Jones Industrial Average futures pointed to a loss of 2%, the S&amp;P 500 futures sank 2.1%, while the Nasdaq 100 futures plunged 2.4%.<br /><br />Ratings agency Standard and Poor’s downgraded the U.S. sovereign … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Further Thoughts On S&P’s Downgrade Of USA Posted: 08 Aug 2011 05:44 AM PDT The sun did come up here on the east coast this morning. That is a very good thing. Life does go on. Our fiscal life goes on as well. In many respects it is little changed but in others it is very much changed and will not soon be restored. As the emotions of many inside and outside of the markets are frayed as a result of S&P's downgrade of the USA, let us keep our heads and maintain our 'sense on cents' approach. On that note, what are three questions I see many asking and how … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Brazil, China Top MON Growth List Posted: 08 Aug 2011 05:30 AM PDT Agri Business giant, Monsanto Company (NYSE:MON) laid out new five-year strategic plan with an outlook for strong international revenue growth, targeting Brazil and China. Brazilian government regulation, public and private investment in agriculture as well as farming population drives Monsanto to target the world's key soybean-producing and the second-largest exporter country, for improving their efficiency, while enhancing yield. Monsanto's sales in Brazil totaled $1.066 billion in 2010, … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Caribou Coffee Tops, Ups Outlook Posted: 08 Aug 2011 05:30 AM PDT Caribou Coffee Company, Inc. (NASDAQ:CBOU) posted second quarter 2011 adjusted earnings of 13 cents per share, exceeding the Zacks Consensus Estimate of 9 cents per share and the year-ago quarter’s earnings of 7 cents per share. The company's net sales during the quarter increased 16.5% to $80.3 million, aided by improved performance across all its business lines. Performance Highlights Segment wise, Coffeehouse sales spiked 3.9% year over year to $60.0 million during the quarter, driven by a 4.6% … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

High Value Contract Of ABB Posted: 08 Aug 2011 05:30 AM PDT ABB Ltd. (NYSE:ABB) received an approximately $1 billion power link order from TenneT, a Dutch-German transmission grid operator, which is the largest power transmission order till date for ABB. The link will connect offshore North Sea wind farms to the German mainland grid. The company will install HVDC (high-voltage direct current) system with capacity of 900 megawatts (MW), which is the largest HVDC system in the world. The new system will reduce the electrical losses to less than 1% per … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Euro Relief Fading Against USD, GBP, JPY, And CHF Posted: 08 Aug 2011 04:58 AM PDT After calming the market son Friday by buying Italian bonds, the market started this week Euro-negative (after an initial upwards continuation). The EUR/USD, EUR/GBP, EUR/JPY, and EUR/CHF pairs ended their relief rally in this week's first European trading session. Let's take a look at the technical levels and setups in these euro-crosses. EUR/USD 1.4250 Cracking: - The EUR/USD starte the week with an upside gap, but closed it completely by the European session. - As we enter the US … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex – Dollar, Yen, Swiss Franc Higher As Risk Appetite Crumbles Posted: 08 Aug 2011 04:56 AM PDT Forexpros – The U.S. dollar was up against most of its major counterparts on Monday, following a downgrade of the U.S. sovereign debt rating by Standard &amp; Poor&rsquo;s, while safe haven demand also boosted the yen and the Swiss franc.<br /><br />During European afternoon trade, the greenback was up against the euro, with EUR/USD shedding 0.45% to hit 1.4214.<br /><br />The euro was higher earlier after the ECB said in a statement late Sunday that it … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex – GBP/USD Steady After Pulling Back From 1-week High Posted: 08 Aug 2011 04:40 AM PDT Forexpros – The pound steadied against the U.S. dollar on Monday, after pulling back from a one-week high amid ongoing concerns over sovereign debt contagion in the euro zone, while the greenback came under pressure following an S&amp;P downgrade of the U.S. debt rating.<br /><br />GBP/USD pulled back from 1.6475, the pair&rsquo;s highest since August 1, to hit 1.6404 during European afternoon trade, still up 0.05% on the day. <br /><br />Cable was likely to … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

“Poor Standards” Posted: 08 Aug 2011 04:34 AM PDT On Friday night, Standard and Poor's downgraded U.S. Government debt to AA+ from AAA. My initial reaction is "So what"? This is just an opinion from a bunch of folks that have often been disastrously wrong in the past. They handed out AAA ratings like candy on Halloween for lousy mortgage-backed securities, and are thus one of the prime culprits for the financial meltdown (along with their competitors Moody's and Fitch). They had Enron rated AAA until just days before they wrote the … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex – EUR/USD Turns Lower As ECB Plan Fails To Ease Concerns Posted: 08 Aug 2011 04:13 AM PDT Forexpros – The euro pulled back from a one-week high against the U.S. dollar on Monday, surrendering gains made after the European Central Bank indicated it would buy Italian and Spanish bonds, as ongoing concerns over the region&rsquo;s debt crisis weighed on the single currency.<br /><br />EUR/USD retreated from 1.4425, the pair&rsquo;s highest since August 1, to hit 1.4263 during European morning trade, edging down 0.11% on the day.<br /><br />The pair was … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Crude Oil Set To Fall With S&P 500, Gold Gains On Safe-Haven Demand Posted: 08 Aug 2011 04:01 AM PDT Talking Points Crude Oil Sinks, Following S&P 500 Amid Risk Aversion Gold Proves Above $1700 Figure on Safe-Haven Demand WTI Crude Oil (NY Close): $86.88 // +0.25 // +0.29% Crude is firmly anchored to overall risk appetite trends, with the correlation between the WTI contract and the S&P 500 at the highest in nine months (0.78). Needless to say, this points the way lower as futures tracking the benchmark stock index trade down over 2.5 percent ahead of the opening bell on Wall Street. … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex – EUR/JPY Retreats As ECB Bond-buying Optimism Fades Posted: 08 Aug 2011 03:39 AM PDT Forexpros – The euro turned lower against the yen on Monday, retreating from a two-day high as optimism faded over news that the European Central Bank was buying Italian and Spanish bonds, while a downgrade of U.S. government debt drove investors to safe haven assets.<br /><br />EUR/JPY pulled back from 112.66, the pair&rsquo;s highest since August 4, to hit 110.82 during early European trade, dropping 1.05% 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

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