Wednesday, August 17, 2011

DailyMarkets.com - Forex – USD/JPY Up On Economic Data

DailyMarkets.com - Forex – USD/JPY Up On Economic Data

Forex – USD/JPY Up On Economic Data

Posted: 17 Aug 2011 05:10 PM PDT

Forexpros – The U.S. Dollar was higher against the Japanese Yen on Thursday after the release of Japanese data on Trade Balance.<br/><br/> USD/JPY was trading at 76.61, up 0.001% at time of writing.<br/><br/> The pair was likely to find support at 76.41, Wednesday&rsquo;s low, and resistance at 77.08, Monday&rsquo;s high.<br/><br/> Earlier in the day, official data showed that Japan&rsquo;s trade balance fell more-than-expected to a seasonally … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Japan’s Trade Balance Falls More-than-expected

Posted: 17 Aug 2011 05:00 PM PDT

Forexpros – Japan&rsquo; trade balance fell more-than-expected last month, official data showed on Wednesday.<br/><br/> In a report, the Ministry of Finance said that the country&rsquo;s trade balance fell to a seasonally adjusted -0.13T, from -0.19T in the preceding month.<br/><br/> Analysts had expected the trade balance to fall -0.12T last … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex – EUR/USD Slides In Early Asian Trade

Posted: 17 Aug 2011 04:53 PM PDT

Forexpros – <p style=”font: normal normal normal 12px/normal Helvetica; margin: 0px”><span style=”letter-spacing: 0px”>Forexpros – The euro eased slightly against the U.S. dollar in Asian trade Thursday,</span></p> <p style=”font: normal normal normal 12px/normal Helvetica; margin: 0px”><span style=”letter-spacing: 0px”>as investors appeared uninspired by a meeting between French and German leaders to address Europe&rsquo;s debt … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex – Dollar Mixed In Early Asian Trade

Posted: 17 Aug 2011 04:21 PM PDT

Forexpros – <p style=”font: normal normal normal 12px/normal Helvetica; margin: 0px”><span style=”letter-spacing: 0px”>Forexpros – The U.S. dollar was mixed against its major counterparts in Asian trade Thursday, following a quiet day on Wall Street and data showing a mild increase in producer inflation.&nbsp;</span></p> <p style=”font: normal normal normal 12px/normal Helvetica; min-height: 14px; margin: 0px”>&nbsp;</p> <p style=”font: normal … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex – EUR/USD Up During The Asian Session

Posted: 17 Aug 2011 04:10 PM PDT

Forexpros – The Euro was higher against the U.S. Dollar on Wednesday.<br/><br/> EUR/USD was trading at 1.4436, up 0.07% at time of writing.<br/><br/> The pair was likely to find support at 1.4151, Friday&rsquo;s low, and resistance at 1.4518, today&rsquo;s high.<br/><br/> Meanwhile, the Euro was up against the British Pound and down against the Japanese Yen, with EUR/GBP gaining 0.07% to hit 0.8726 and EUR/JPY falling 0.03% to hit … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

More Community Banks Receive Funds

Posted: 17 Aug 2011 03:57 PM PDT

08/17/11 The US Treasury announced that 37 community banks will receive $418 million. The Small Business Lending Fund has approved lending for 80 … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex – NZD/USD Down In Asian Trade

Posted: 17 Aug 2011 03:35 PM PDT

Forexpros – The New Zealand Dollar was lower against the U.S. Dollar on Wednesday.<br/><br/> NZD/USD was trading at 0.8370, down 0.07% at time of writing.<br/><br/> The pair was likely to find support at 0.8182, Friday&rsquo;s low, and resistance at 0.8426, today&rsquo;s high.<br/><br/> Meanwhile, the New Zealand Dollar was up against the Australian Dollar and down against the Euro, with AUD/NZD shedding 0.07% to hit 1.2590 and EUR/NZD rising 0.07% … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

The Day Ahead: US CPI, Existing Home Sales, Jobless Claims, Philadelphia Fed Survey, Leading Indicators; Earnings – Gap, Hewlett-Packard, Sears

Posted: 17 Aug 2011 10:20 AM PDT

08/17/11 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

Hot Option Plays: The Trader In The Dell

Posted: 17 Aug 2011 03:17 PM PDT

Cusick’s Corner
Hi-ho, the derry-o. Tech stocks remained weak after Dell Inc. (NASDAQ:DELL) revised revenue guidance – consumer demand is looking weaker. DELL said it expects 1% to 5% revenue growth for the rest of the year, down from earlier guidance of 5% to 9%, which caused DELL to drop 10% on the news and close $14.20, down 1.60. The only item on the economic calendar today did not encourage much trading — the Producer Price Index increased by 0.2% during July. Inflation worries pushed Gold … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

The President’s Bold Jobs Bill (Maybe)

Posted: 17 Aug 2011 02:57 PM PDT

The President is sounding like a fighter these days. He even says he'll be proposing a jobs bill in September – and if Republicans don't go along he'll fight for it through Election Day (or beyond).
That's a start. But read the small print and all he's talked about so far is extending the payroll tax cut and unemployment benefits (good, but small potatoes), ratifying the Columbia and South Korea free trade agreements (not necessarily a job-creating move), and creating an … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

SEC Attorney Darcy Flynn Blows Whistle On Wall Street-Washington Incest

Posted: 17 Aug 2011 02:33 PM PDT

BOMBSHELL!!!
Since early 2009 I have written at length about the regulatory capture that has dominated the financial industry. I have defined this concept in layman's terms as the Wall Street-Washington incest. Today a close friend and regular reader of Sense on Cents shares a story which blows the cover off this incest.
This story is written by Rolling Stone's Matt Taibbi, perhaps Wall Street's greatest nemesis. I commend him and those from whom he has sourced this … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Closing Bell Market Monitor: DELL, TGT, ANF

Posted: 17 Aug 2011 02:00 PM PDT

08/17/11 The latest in news, commentary, and information on what’s moved the US equities markets just after the NYSE closing bell including: a weak tech sector, Target beating its 2Q targets, & rising producer … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

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

Posted: 17 Aug 2011 02:00 PM PDT

Forexpros – The Euro was lower against the U.S. Dollar on Wednesday after the release of U.S. data on PPI.<br/><br/> EUR/USD was trading at 1.4426, down 0.001% at time of writing.<br/><br/> The pair was likely to find support at 1.4151, Friday&rsquo;s low, and resistance at 1.4518, today&rsquo;s high.<br/><br/> Earlier in the day, official data showed that U.S. producer price inflation rose more-than-expected to a seasonally adjusted 0.2% last month … [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: 17 Aug 2011 02:00 PM PDT

Forexpros – The U.S. Dollar was higher against the Japanese Yen on Wednesday after the release of U.S. data on PPI.<br/><br/> USD/JPY was trading at 76.61, up 0.01% at time of writing.<br/><br/> The pair was likely to find support at 76.41, today&rsquo;s low, and resistance at 77.08, Monday&rsquo;s high.<br/><br/> Earlier in the day, official data showed that U.S. producer price inflation rose more-than-expected to a seasonally adjusted 0.2% last … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

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

Posted: 17 Aug 2011 02:00 PM PDT

Forexpros – The Euro was lower against the U.S. Dollar on Wednesday after the release of U.S. data on PPI.<br/><br/> EUR/USD was trading at 1.4424, down 0.01% at time of writing.<br/><br/> The pair was likely to find support at 1.4151, Friday&rsquo;s low, and resistance at 1.4518, today&rsquo;s high.<br/><br/> Earlier in the day, official data showed that U.S. producer price inflation rose more-than-expected to a seasonally adjusted 0.2% last month … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Summer Doldrums In Gold Miners Concluding

Posted: 17 Aug 2011 01:14 PM PDT

One of our favorite mining equities has been the ongoing advance of New Gold (NGD). On several occasions we have made doubles in this ongoing saga since we first highlighted it in early 2009. Click here to see original recommendation. The chart is extremely powerful. This could well be the hallmark of an ongoing powerful advance. It refused to violate its 200 day moving average despite sector weakness.

(Click to enlarge)
This relative strength may be telling us that New Gold may well be … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

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

Posted: 17 Aug 2011 12:35 PM PDT

Forexpros – The Australian Dollar was higher against the U.S. Dollar on Wednesday after the release of U.S. data on Core PPI.<br/><br/>rnrnAUD/USD was trading at 1.0560, up 0.72% at time of writing.<br/><br/>rnrnThe pair was likely to find support at 1.0247, Friday's low, and resistance at 1.0602, today's high.<br/><br/>rnEarlier in the day, official data showed that U.S. core producer price inflation rose more-than-expected to a seasonally adjusted … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

A Look At The USD/CAD At Descending Triangle Support; 2 Bullish Scenarios

Posted: 17 Aug 2011 12:30 PM PDT

Previous: USD/CAD is Cracking Triangle Support Below Parity (8/14)
USD/CAD

Triangle:
- The "triangle seen in the previous update was broken to the downside, but this was not the end of it.
- The 4H chart shows several interpretations of the "triangle", with the last one being a descending triangle.
Bearish Break:
A break below 0.9770 would be the 3rd triangle support broken, and should significant a decline towards 0.9640 in the short-term in a correction decline, but can also target … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

National Bank Of Georgia Drops Refinancing Rate 25bps To 7.50%

Posted: 17 Aug 2011 12:08 PM PDT

The National Bank of Georgia decreased its benchmark refinancing interest rate by 25 basis points to 7.50% from 7.75%.  The Bank said (translated) the high rate of inflation (8.5% in July) was mainly driven by food price rises (6.7%), and it expects inflation to reduce in the coming months; towards target by the end of the current year.  The interest rate decrease was preventative in nature, in order to keep inflation around the target level in the medium term.  The … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Adios OPEC: The Americas, Not The Middle East, Will Be The World Capital Of Energy In The Future

Posted: 17 Aug 2011 11:45 AM PDT

Excerpts from a new Special Report from Foreign Policy:

For half a century, the global energy supply’s center of gravity has been the Middle East. This fact has had self-evidently enormous implications for the world we live in — and it’s about to change.

By the 2020s, the capital of energy will likely have shifted back to the Western Hemisphere, where it was prior to the ascendancy of Middle Eastern megasuppliers such as Saudi Arabia and Kuwait in the 1960s. The reasons for this shift are … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Annual PPI Core Inflation Was 2.5% In July

Posted: 17 Aug 2011 11:29 AM PDT

The report on producer prices for the month of July was released today by the BLS, here is one observation:

1.  Annual core PPI inflation (finished goods less food and energy) was 2.5% in July, the highest in two years, but below the 4.7% peak in late 2008, and far below the double-digit rates of the early 1980s (see chart above).  

As I have discussed before, the inflationary periods of the 1970s and 1980s were always associated with price increases “across the board” for … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Iceland Central Bank Hikes Interest Rate 25bps To 4.50%

Posted: 17 Aug 2011 11:27 AM PDT

Iceland’s Sedlabanki raised its seven-day collateral lending rate by 25 basis points to 4.50% from 4.25%.  The Bank also increased the deposit rate by 25 basis points to 3.50% and overnight lending rate to 5.50%.  The Bank said: ”The interest rate increase is in accordance with recent MPC statements and reflects the fact that the inflation outlook for the coming two years has deteriorated still further since the Committee’s last meeting,” and noted ”It is … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Crude Rallies Alongside Equities

Posted: 17 Aug 2011 11:00 AM PDT

08/17/11 Front month crude prices were rallyiis afternoon on an inventory rise and strength in US … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

European Markets Mixed At Close; Dax Down 0.77%

Posted: 17 Aug 2011 10:05 AM PDT

Forexpros – European stocks were mixed after the closing bell on Wednesday.<br/><br/>rnAt the close of European trade, Germany's DAX fell 0.77%, London's FTSE 100 shed 0.49%, France's CAC 40 climbed 0.73% and the EURO STOXX 50 was up 0.32%.<br/><br/>rnEarlier in the day, official data showed that the U.K. claimant count change rose more-than-expected to a seasonally adjusted 37.1K last month from 31.3K in the preceding month whose figure was revised up from … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards
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