Monday, August 15, 2011

DailyMarkets.com - Forex – EUR/USD Weakens In Early Asian Trade

DailyMarkets.com - Forex – EUR/USD Weakens In Early Asian Trade

Forex – EUR/USD Weakens In Early Asian Trade

Posted: 15 Aug 2011 04:43 PM PDT

Forexpros – <p style=”font: normal normal normal 12px/normal Helvetica; margin: 0px”>Forexpros – The euro eased slightly against the U.S. dollar Tuesday, as European leaders prepared to meet over details on a bailout fund for debt threatened euro-zone members.</p><p style=”font: normal normal normal 12px/normal Helvetica; min-height: 14px; margin: 0px”>&nbsp;</p> <p style=”font: normal normal normal 12px/normal Helvetica; min-height: 14px; margin: … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex – Dollar Edges Higher In Early Asian Trade

Posted: 15 Aug 2011 04:31 PM PDT

Forexpros – <p style=”font: normal normal normal 12px/normal Helvetica; margin: 0px”><span style=”letter-spacing: 0px”>Forexpros – The U.S. dollar added to gains against its major counterparts in Asian trade Monday, aided by corporate merger announcements and a better-than-expected GDP report from Japan.</span></p> <p style=”font: normal normal normal 12px/normal Helvetica; min-height: 14px; margin: 0px”>&nbsp;</p> <p style=”font: normal normal … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Hot Option Plays: Right Back Where We Started

Posted: 15 Aug 2011 04:18 PM PDT

Cusick’s Corner
There were multiple merger stories in the news today that helped fuel today’s market advance and now stocks have regained their losses that started on August 5th after Standard & Poor’s downgrade of US debt. However, economic reports still show a stressed out economy so trading overall was lighter than usual. Retailers will be in the spotlight tomorrow, a few big names like HD and WMT will be coming out with earnings – check out our earnings calendar located under the … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex – USD/JPY Up During Asian Trade

Posted: 15 Aug 2011 04:15 PM PDT

Forexpros – The U.S. Dollar was higher against the Japanese Yen on Monday.<br/><br/> USD/JPY was trading at 76.86, up 0.03% at time of writing.<br/><br/> The pair was likely to find support at 76.31, Thursday&rsquo;s low, and resistance at 77.22, Thursday&rsquo;s high.<br/><br/> Meanwhile, the U.S. Dollar was up against the Euro and the British Pound, with EUR/USD shedding 0.04% to hit 1.4439 and GBP/USD falling 0.09% to hit … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Crude Oil Slides, Gas Prices Slower To Fall

Posted: 15 Aug 2011 03:57 PM PDT

08/15/11 Crude oil prices slid 10% in the past two weeks. The national average for a gallon of gasoline declined by 2.5% in the latest … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex – NZD/USD Up In Asian Trade

Posted: 15 Aug 2011 03:35 PM PDT

Forexpros – The New Zealand Dollar was higher against the U.S. Dollar on Monday.<br/><br/> NZD/USD was trading at 0.8342, up 0.16% at time of writing.<br/><br/> The pair was likely to find support at 0.8066, Wednesday&rsquo;s low, and resistance at 0.8390, today&rsquo;s high.<br/><br/> Meanwhile, the New Zealand Dollar was up against the Australian Dollar and the Euro, with AUD/NZD shedding 0.27% to hit 1.2579 and EUR/NZD falling 0.19% to hit … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

The Day Ahead: RBA Minutes, Euro-zone And German Q2 GDP, UK CPI; US Data – Housing Starts, Industrial Production, Import And Export Prices; Earnings – Dell, Home Depot, Saks, Wal-Mart

Posted: 15 Aug 2011 10:20 AM PDT

08/15/11 The stories, data, and stocks that may have the greatest impact during the next trading … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Hospira Remains Neutral

Posted: 15 Aug 2011 03:15 PM PDT

We have maintained a Neutral recommendation on Hospira Inc. (NYSE:HSP) with a target price of $55.00 following the announcement of the second quarter results.
Hospira's second quarter earnings of 94 cents per share were well above the Zacks Consensus Estimate of 77 cents. Earnings also surpassed the year-ago adjusted figure of 86 cents.
Earnings in the second quarter of 2011 benefited from an increase in revenue, which was boosted by strong performance of the Specialty Injectable Pharmaceuticals … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Integra Unveils Zuma-C Spine

Posted: 15 Aug 2011 03:05 PM PDT

Medical devices maker Integra LifeScience Holdings (NASDAQ:IART) recently announced the global launch of its Zuma-C Anterior Cervical Fixation System. Based on the original Zuma platform, this product is expected to expand the company's spine product portfolio. For several years, Zuma platform has been successfully used in the surgical procedure to remove herniated or degenerative discs in the neck.
During the second quarter of fiscal 2011, Integra registered strong sales growth in its combined … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Luminex Reiterated At Neutral

Posted: 15 Aug 2011 03:05 PM PDT

We maintain our Neutral recommendation on Luminex Corporation (NASDAQ:LMNX). Second-quarter fiscal 2011 earnings of 11 cents a share outperformed the Zacks Consensus Estimates of 6 cents. Profit propelled more than five-fold year over year riding on solid double-digit growth in revenues.
Revenues zoomed 43% year over year on the heels of strong consumables sales. Consumable revenues skyrocketed 90% to hit a new quarterly record (of $18.4 million).
Healthy shipments of analytical instruments … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

First Approval For LAN-TAM Merger

Posted: 15 Aug 2011 03:05 PM PDT

The approval of Chilean airline LAN S.A's (NYSE:LFL) plan to buy rival Brazilian carrier TAM Linhas Aereas (NYSE:TAM), for forming LATAM, one of the world's major airlines, has been recommended by the antitrust unit of Brazil’s finance ministry.
This approval is the first of its three antitrust decisions in Brazil for the LAN-TAM merger deal, announced a year ago. The deal has been facing hurdles in Chile for quite sometime, and the tie-up is still under discussion.
The deal was questioned by … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Stock Watch List For Tuesday, Aug 16

Posted: 15 Aug 2011 02:53 PM PDT

  ( click to enlarge )

Novatel Wireless, Inc. (NASDAQ:NVTL) was mentioned here earlier and it looks like it is starting to turn. Long swing trade idea. Watch the $3.67 level.

  ( click to enlarge )

Tellabs, Inc. (NASDAQ:TLAB) had a significant bullish momentum today, made a strong break out above its 50-day moving average as you can see on my daily chart above, which is very bullish. The stock is again setting up for a potential swing trade. From a technical standpoint, MACD Histogram and … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Exxon L.A. Refinery Breaks Down

Posted: 15 Aug 2011 02:35 PM PDT

An unidentified unit of ExxonMobil Corporation (NYSE:XOM) recently broke down, flaring up its Los Angeles area refinery in Torrance, California.
An equipment failure triggered off the trouble but operations have resumed and the company expects to meet its contractual commitments on time. The Torrance refinery spreads over 750 acres and employs nearly 800 people.
ExxonMobil's capacity includes processing 149,500 barrels of crude oil per day and production of 1.8 billion gallons of gasoline per … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Northrop Wins Army Contract

Posted: 15 Aug 2011 02:35 PM PDT

Los Angeles-based leading defense contractor, Northrop Grumman Corporation (NYSE:NOC) was awarded a $388 Million Mission Command Training Contract from the Department of the Army Mission and Installation Contracting Command Center – Fort Eustis.
Per the contract Northrop Grumman will provide training and technical services to support the U.S. Army Mission Command Training Program (MCTP).
The $388.4 million cost plus award fee contract includes a one-year base with four option years. Work will be … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Bullish On Optimer Pharma

Posted: 15 Aug 2011 02:35 PM PDT

We have maintained an Outperform recommendation on Optimer Pharmaceuticals, Inc. (NASDAQ:OPTR) with a target price of $9.00 per share.
We find the US Food and Drug Administration's (FDA) approval of Optimer's first drug, antibiotic Dificid, for the treatment of clostridium difficile-associated diarrhea (CDAD), highly encouraging. Dificid was launched in July 2011.
CDAD is the most common nosocomial or hospital-acquired diarrhea and is a significant malaise in hospitals and nursing home … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Q1 2012 Results

Posted: 15 Aug 2011 02:06 PM PDT

Brian Marckx, CFA
Q1 2012 Results

On August 15th CryoPort (CYRX) filed their 10-Q for fiscal Q1 2012 ending June 30, 2011.  Q1 revenue of $124k was below our $191k estimate and was down from $152k in Q1 2011.  Important to note, however, is that revenue from one particular customer accounted for 63% of total revenue in Q1 2011 – that same customer accounted for only 4% in the current period as they no longer had a need for cryogenic temperature shipping.  Had revenue from this … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

EPA Orders DuPont To Stop Imprelis

Posted: 15 Aug 2011 02:06 PM PDT

The Environmental Protection Agency (EPA) ordered EI DuPont de Nemours & Co. (NYSE:DD). to stop selling its weed-killer Imprelis after the chemical reportedly killed a large number of trees.
The EPA is investigating whether damage to trees has occurred due to product misuse, inadequate warnings and directions on the product's label or persistence in soil.
According to the EPA, DuPont voluntarily suspended Imprelis sales on August 4 and announced a product recall and refund for … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Earnings Preview: Abercrombie & Fitch

Posted: 15 Aug 2011 02:06 PM PDT

Abercrombie & Fitch Co. (NYSE:ANF) is scheduled to report its second-quarter 2011 financial results before the opening bell on August 17, 2011. The current Zacks Consensus Estimates for the quarter is earnings of 25 cents a share. This represents growth of 4.2% from the prior-year earnings per share
First-Quarter 2011, Summary
Abercrombie registered earnings of 27 cents a share in the first quarter of fiscal 2011, thereby surpassing the Zacks Consensus Estimate of 11 cents a share and beating … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Closing Bell Market Monitor: GOOG, Empire Manufacturing

Posted: 15 Aug 2011 02:00 PM PDT

08/15/11 The latest in news, commentary, and information on what’s moved the US equities markets just after the NYSE closing bell including: Google’s buyout of Motorola & weak manufacturing … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

S&P 500 Might Fall Tomorrow After An ABC Correction Rally

Posted: 15 Aug 2011 01:58 PM PDT

Prev: A Look at S&P500 At Critical Support (8/3 Video)
GBP/USD

ABC with C=A :
- The S&P 500 was very volatile last week, falling to 1076.75 before finding support.
- Since then, we have seen the market in an ABC correction, currently in wave C. Near 1204, we will have C=A equality.
- Will the market find resistance here tomorrow for another slide?
- If the market can't break through the 1200-1205 area then falls back below the 1178.00 pivot, we can be in a slide, if not a bearish … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex – EUR/USD Up At The End Of U.S. Session

Posted: 15 Aug 2011 01:55 PM PDT

Forexpros – The Euro was higher against the U.S. Dollar on Monday after the release of U.S. data on NY Empire State Manufacturing Index.<br/><br/> EUR/USD was trading at 1.4444, up 1.38% at time of writing.<br/><br/> The pair was likely to find support at 1.4105, Thursday&rsquo;s low, and resistance at 1.4475, today&rsquo;s high.<br/><br/> Earlier in the day, official data showed that Manufacturing activity in the State of New York fell … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex – USD/JPY Up Toward The End Of U.S. Session

Posted: 15 Aug 2011 01:46 PM PDT

Forexpros – The U.S. Dollar was higher against the Japanese Yen on Monday after the release of U.S. data on NY Empire State Manufacturing Index.<br/><br/> USD/JPY was trading at 76.88, up 0.26% at time of writing.<br/><br/> The pair was likely to find support at 76.31, Thursday&rsquo;s low, and resistance at 77.22, Thursday&rsquo;s high.<br/><br/> Earlier in the day, official data showed that Manufacturing activity in the State of New York fell … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex – EUR/USD Up Toward The End Of U.S. Session

Posted: 15 Aug 2011 01:45 PM PDT

Forexpros – The Euro was higher against the U.S. Dollar on Monday after the release of U.S. data on NY Empire State Manufacturing Index.<br/><br/> EUR/USD was trading at 1.4440, up 1.35% at time of writing.<br/><br/> The pair was likely to find support at 1.4105, Thursday&rsquo;s low, and resistance at 1.4475, today&rsquo;s high.<br/><br/> Earlier in the day, official data showed that Manufacturing activity in the State of New York fell … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

U.S. Steel Increases Price

Posted: 15 Aug 2011 01:32 PM PDT

U.S. Steel Corp. (NYSE:X) announced that it will be raising the spot market prices for its flat rolled products by $60 per ton.
The company is taking this measure to combat increasing raw material costs. As per U.S. Steel, the costs are high and inventories are low and thus it is increasing prices to raise margins.
Recently, the company released its financial results for the second quarter of 2011. The company reported second-quarter 2011 net operating profit of $1.33 per share versus a net … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Natural Gas Builds, But Slowly

Posted: 15 Aug 2011 01:32 PM PDT

The U.S. Energy Department’s weekly inventory release showed a smaller-than-expected build-up in natural gas supplies on the back of increased cooling demand spurred by an extremely hot weather.
The Weekly Natural Gas Storage Report – brought out by the Energy Information Administration (EIA) every Thursday since 2002 – includes updates on natural gas market prices, the latest storage level estimates, recent weather data and other market activity or events.
The report provides an overview … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Twin Inspiron Z Launches By Dell

Posted: 15 Aug 2011 01:31 PM PDT

Dell Inc. (NASDAQ:DELL) recently unveiled two new models of its flagship Inspiron Z series. The company aims to lure customers and drum up business with the look and service of these newbies.
Inspiron is Dell's most popular laptop brand. Inspiron 13z and 14z are the new kids on the block, sporting slimmer designs along with aluminum lids and palm rests that have replaced plastic cases prone to scratches. The models sport Intel Corp.'s (NASDAQ:INTC) Sandy Bridge Core i3 and i5 processors, with up to … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

U.S. Markets Close Higher; Dow Jones Up 1.9%

Posted: 15 Aug 2011 01:10 PM PDT

Forexpros – U.S. stocks were up after the closing bell on Monday.<br/><br/> At the close of U.S. trade, the Dow Jones Industrial Average rose 1.9%, the S&P 500 index gained 2.18%, while the Nasdaq 100 index climbed 1.40%.<br/><br/> Earlier in the day, official data showed that Manufacturing activity in the State of New York fell more-than-expected to a seasonally adjusted -7.70 last month from -3.80 in the preceding month.<br/><br/>Analysts had expected … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex – GBP/USD Up During The U.S. Session

Posted: 15 Aug 2011 12:55 PM PDT

Forexpros – The British Pound was higher against the U.S. Dollar on Monday after the release of U.S. data on NY Empire State Manufacturing Index.<br/><br/> GBP/USD was trading at 1.6380, up 0.60% at time of writing.<br/><br/> The pair was likely to find support at 1.6112, Thursday&rsquo;s low, and resistance at 1.6409, today&rsquo;s high.<br/><br/> Earlier in the day, official data showed that Manufacturing activity in the State of New York fell … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Chicken Feed Getting Expensive

Posted: 15 Aug 2011 12:50 PM PDT

Meat producers like Tyson Foods Inc. (NYSE:TSN) will find feeding their stocks with corn to be dearer as corn, soybean and wheat prices surged following the U.S. government's announcement that the farmers may not meet the expectation offered by it due to the damaging heat wave across the nation.
The U.S. Department of Agriculture yesterday lowered its corn-crop estimate by 4.1 %, and also reduced the soybean forecast by 5.2%, along with spring-wheat production, which will be down by 5.2 % from … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Is A Recession Priced In?

Posted: 15 Aug 2011 12:50 PM PDT

The Earnings Picture

Second quarter earnings season is almost over, with 459 — 91.8% — of the S&P 500 reports in. With the exception of a handful of financial companies, most notably Bank of America (NYSE:BAC), which had a $12 billion negative swing in net income from last year, this has been another great earnings season.

The year-over-year growth rate for the S&P 500 is 12.2%, way off the 17.5% pace those same 459 firms posted in the first quarter. However, it you exclude the … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Neutral Outlook On J.B. Hunt

Posted: 15 Aug 2011 12:50 PM PDT

J.B. Hunt Transport Services Inc. (NASDAQ:JBHT) remains well established on its growth trajectory given the underlying market trends that auger well for most of its segments, particularly Intermodal and Dedicated Contract Services (DCS).
Despite a looming economic outlook over the near term, we believe the changes in freight transportation market owing to truckload to intermodal conversion will emerge as key growth drivers. These will  not only drive solid pricing across all segments but will … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Bon-Ton’s 2Q Sales Dip

Posted: 15 Aug 2011 12:35 PM PDT

Bon-Ton Stores Inc. (NASDAQ:BONT) reported total sales of $173.6 million in July 2011, which declined 2.3% from $177.6 million posted in July 2010. The company's comparable store sales also dipped 1.6% in the same period.
In the month of July, the categories that performed well were hard home, fine jewelry, cosmetics, men's sportswear and ladies' short and large-size sportswear. The company's eCommerce category also witnessed solid growth on the back of strong online sales.
However, … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Sara Lee Continues Slimming

Posted: 15 Aug 2011 12:35 PM PDT

Sara Lee Corp. (NYSE:SLE), one of the world's leaders in manufacturing and marketing of a range of branded packaged meat, bakery, and beverage products, registered decent fourth quarter 2011 earnings of 20 cents per share that shot up by 186% from 7 cents posted in the year-ago period. Earnings were in line with the Zacks Consensus Estimate.
The upswing came on the back of new products like Jimmy Dean Jimmy D's that were introduced and expanded successful brands like L'OR EspressO and Senseo … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex – USD/CHF Up In U.S. Trading Hours

Posted: 15 Aug 2011 12:30 PM PDT

Forexpros – The U.S. Dollar was higher against the Swiss Franc on Monday after the release of U.S. data on NY Empire State Manufacturing Index.<br/><br/> USD/CHF was trading at 0.7846, up 0.86% at time of writing.<br/><br/> The pair was likely to find support at 0.7183, Wednesday&rsquo;s low, and resistance at 0.7998, today&rsquo;s high.<br/><br/> Earlier in the day, official data showed that Manufacturing activity in the State of New York fell … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Hot Option Plays: Technical Set-Up – Death Cross

Posted: 15 Aug 2011 12:18 PM PDT

Cusick’s Corner
This has been one volatile week. There was a negative technical set-up that has not been discussed, the 50-Day finished the day below the 200-Day Moving Average, which is a potential Death Cross. Now this signal came at the end of the week with the potential EU short ban and French/German meetings (holy 2008!), so I take this flag with a grain of salt but I am not going to ignore it. Take a rest this weekend and talk to you soon.
Stocks are broadly higher with help from in-line … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Hot Option Plays: It’s Beginning To Look A Lot Like December

Posted: 15 Aug 2011 12:18 PM PDT

Cusick’s Corner
Perspective — last week’s action gave me just that and what is it? Volatility! Volatility is here and we can see that in option pricing as far out as December. Today’s push, while solid, in the short-term is acting as an opportunity for longs in weak stocks to unwind positions while shorts are waiting patiently in the wings. Volatility is the name of this game and that is how you have to trade it — with the expectation of potentially big, violent moves. I am watching for the … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Lesson On Intraday Divergence Reversal Signals In Gold

Posted: 15 Aug 2011 12:17 PM PDT

I wanted to follow-up from the post "Lessons from Gold's Three-Push Divergence into $1,800" from last week with an additional trading example of how to piece together the chart puzzle into a successful low-risk, high probability trade on the very short-term structure.
Let's take a look at the chart and study the lesson from the "Divergence Plus Trendline Break" Reversal Trade:

Be sure to read my prior commentary on the first trade set-up:  The Short-Sale into $1,800 (on dual … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex – USD/CAD Down In U.S. Trade

Posted: 15 Aug 2011 12:10 PM PDT

Forexpros – The U.S. Dollar was lower against the Canadian Dollar on Monday after the release of U.S. data on NY Empire State Manufacturing Index.<br/><br/> USD/CAD was trading at 0.9809, down 0.64% at time of writing.<br/><br/> The pair was likely to find support at 0.9794, Wednesday&rsquo;s low, and resistance at 0.9969, Thursday&rsquo;s high.<br/><br/> Earlier in the day, official data showed that Manufacturing activity in the State of New York … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Preview Of Euro-zone GDP: Can Euro Holds Its Momentum

Posted: 15 Aug 2011 11:54 AM PDT

A key risk event for the EUR overnight will be both German and Euro-zone preliminary 2nd quarter GDP results. We preview these releases.
Fundamental Release: Germany GDP (1st release for 2Q)
Time: 2:00AM ET (6:00AM GMT)
Forecast: 0.5%, pr. 1.5%
Fundamental Release: Euro-zone GDP (1st release for 2Q)
Time: 5:00AM ET (9:00AM GMT)
Forecast: 0.3%, pr. 0.8%
Pair(s): EUR/USD and other EUR Crosses
Importance of This Event:
The Euro-zone GDP is going to be very important because a lot of the … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Average Federal Income Tax Rates By Income Group Are Highly Progressive, Not Regressive

Posted: 15 Aug 2011 11:53 AM PDT

From Warren Buffett in today’s NY Times:

“…Blessings are showered upon [the super-rich] by legislators in Washington who feel compelled to protect us, much as if we were spotted owls or some other endangered species. It's nice to have friends in high places. 

Last year my federal tax bill — the income tax I paid, as well as payroll taxes paid by me and on my behalf — was $6,938,744. That sounds like a lot of money. But what I paid was only 17.4 percent of my taxable income — … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex – EUR/USD Up In U.S. Trading Hours

Posted: 15 Aug 2011 11:45 AM PDT

Forexpros – The Euro was higher against the U.S. Dollar on Monday after the release of U.S. data on NY Empire State Manufacturing Index.<br/><br/> EUR/USD was trading at 1.4447, up 1.40% at time of writing.<br/><br/> The pair was likely to find support at 1.4105, Thursday&rsquo;s low, and resistance at 1.4475, today&rsquo;s high.<br/><br/> Earlier in the day, official data showed that Manufacturing activity in the State of New York fell … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex Trading: GBPJPY Moves Toward Key Resistance

Posted: 15 Aug 2011 11:44 AM PDT

The GBPJPY has been stepping higher today and moves toward what is shaping up as key resistance. The price has 38.2% retracement, the 200 hour MA and the channel trendline all converging against the 126.16 area. This level should find profits takers from those who bought the lows.   ON the downside the 100 hour MA and trendline support at the 124.70 area provide the support.
Looking at the shorter term 5 minute chart, the pair is finding early sellers against the 125.89 area. There … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

ECB Buys Record Amount Of Bonds Under SMP

Posted: 15 Aug 2011 11:33 AM PDT

The European Central Bank (ECB) spent 22 billion euros on bond purchases last week, as part of the expanded SMP (Securities Market Program), according to Reuters reports.  The purchases exceed the previous record of 16.5 billion euros that the ECB undertook when it began buying Greek government debt in May 2010.  The latest buying brings the total value of purchases under the program to 96 billion euros since the program began in May 2010.  It is understood that much of … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Markets In Everything: Neighbor Car Sharing

Posted: 15 Aug 2011 11:20 AM PDT

Boston — “Since its launch in 2000, Zipcar has shaken up the car rental market and grown to include more than 550,000 members in the United States, Canada, and the United Kingdom. Its main selling points? The ability to reserve vehicles by the hour instead of by the day and the convenience of pickup locations all over major metropolitan areas. Similar services now include the nonprofits CityCarShare, I-Go Carsharing, and e-Go Carshare.

Now, new services are taking this model a step further. … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards
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