Monday, September 5, 2011

DailyMarkets.com - Forex – AUD/USD Down In U.S. Trade

DailyMarkets.com - Forex – AUD/USD Down In U.S. Trade

Forex – AUD/USD Down In U.S. Trade

Posted: 05 Sep 2011 11:15 AM PDT

Forexpros – The Australian Dollar was lower against the U.S. Dollar on Monday.

AUD/USD was trading at 1.0549, down 0.90% at time of writing.

The pair was likely to find support at 1.0513, today's low, and resistance at 1.0765, Thursday's high.

Meanwhile, the Australian Dollar was down against the Euro and the Japanese Yen, with EUR/AUD gaining 0.09% to hit 1.3359 and AUD/JPY falling 0.83% to hit … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

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

Posted: 05 Sep 2011 10:45 AM PDT

Forexpros – The U.S. Dollar was higher against the Japanese Yen on Monday.

USD/JPY was trading at 76.89, up 0.10% at time of writing.

The pair was likely to find support at 76.43, Wednesday's low, and resistance at 77.24, Thursday's high.

Meanwhile, the U.S. Dollar was up against the Euro and the British Pound, with EUR/USD shedding 0.84% to hit 1.4087 and GBP/USD falling 0.69% to hit … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Undervalued Miners Beginning To Play Catch Up To Gold Bullion

Posted: 05 Sep 2011 10:21 AM PDT

The action in the precious metals raises interest, especially in the maze created by a fear-driven market. Gold at this time is participating in a runaway move past resistance. Although gold has reached new record highs, it may begin stalling in its attempt to continue moving parabolically, while the undervalued miners play catch-up. What may this hesitation signal and shrinking of the divergence between miners and bullion mean to you?

Technically, it may be informing us that the bull move … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

FHFA Files Lawsuits Over Mortgage Securities

Posted: 05 Sep 2011 10:00 AM PDT

09/05/11 The Federal Housing Finance Agency filed a lawsuit against financial firms over residential mortgage-backed … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Chart Of The Day: World GDP And Suez Canal Traffic

Posted: 05 Sep 2011 09:37 AM PDT

The chart above from The Economist displays annual world GDP growth and the annual growth in the amount of cargo passing through the Suez Canal in Egypt, representing about 8% of the total world trade. Making a simple forecast based on recent trends in cargo traffic, The Economist predicts that world GDP will fall from 3.8% in the first quarter to 3.3% in the second … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

America Is Still A Great Engine Of Innovation And Growth: The U.S. Is Still The Biggest Buy Of All

Posted: 05 Sep 2011 08:38 AM PDT

Cato’s Dan Griswold points to this great quote in Barron’s from Alger CEO Dan Chung (alternate link here):

“America is not a stagnant country. We have a relatively youthful population. Our technology and media industries are the envy of the world, and the Internet is most dynamic in those areas. Europe, China and Japan, for all their attempts, have not been able to replicate our success in innovation of technology and media. We are still a great engine of innovation and growth. While it … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

U.S. Dollar Bid Higher Against Aussie, Euro As Contagion Risks Reemerge

Posted: 05 Sep 2011 08:22 AM PDT

Fundamental Headline
• Stagnant U.S. Hiring May Signal renewed Recession – Bloomberg
• Stocks, Italian Bonds Drop on Europe Debt – Bloomberg
• Service Sector Recovery Slows Sharply – Financial Times
• Euro Falls Broadly as Euro-zone Risks Mount – Reuters
• Gold Hovers Around $1,900 – WSJ
European Session Summary
Following German Chancellor Angela Merkel's party's defeat in a local election over the weekend, the Euro was one of the weakest performing major currencies in … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex Trading: EURUSD Moves Sharply Higher As London Looks To Exit

Posted: 05 Sep 2011 08:03 AM PDT

The holiday trading may have taken it's first victims. The EURUSD moved sharply and quickly to the upside as the last hour of London trading began. The price shot up past the 38.2% of the days trading range at the 1.4103 and continued to the 100 bar MA on the 5 minute chart at the 1.4121 level where it stopped abruptly.  The move is likely to be holiday trading.  The 1.4100-03 level will be eyed as support now by intraday traders.  A move below and traders can expect … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Natural Gas Futures Edge Lower In Holiday-thinned Trade

Posted: 05 Sep 2011 08:03 AM PDT

Forexpros – Natural gas futures edged lower in subdued trade on Monday, as milder weather forecasts in the U.S. and easing concerns over a disruption to supplies in the Gulf of Mexico dragged down prices.

On the New York Mercantile Exchange, natural gas futures for October delivery traded at USD3.857 per million British thermal units during U.S. morning trade, shedding 0.39%.

It earlier fell as much as 0.64% to trade at a daily low of USD3.853 per million British thermal units, just above … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex – Dollar Adds To Gains Against Rivals In Risk-off Trade

Posted: 05 Sep 2011 07:56 AM PDT

Forexpros – The U.S. dollar added to broad gains against its major counterparts in subdued trade on Monday, as continued concerns over the debt crisis in the euro zone and a bleak outlook for global growth spurred a flight to safety.

During European late afternoon trade, the greenback was higher against the euro, with EUR/USD tumbling 0.88% to hit 1.4079.

German Chancellor Angela Merkel’s ruling party were defeated in local elections on Sunday, adding to concerns over efforts to grant new … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Does The Media Have A Liberal Bias? Is There Any Evidence? Yes, According To A New Book And Study

Posted: 05 Sep 2011 07:49 AM PDT

Political Quotients of Some Politicians (click to enlarge)

Does the mainstream media have a liberal bias?  Yes, according to the empirical evidence that Tim Groseclose, UCLA political scientist and economist, presents in his new book “Left Turn: How Liberal Media Distorts the American Mind.”  From Tim’s website:

“Dr. Tim Groseclose, a professor of political science and economics at UCLA, has spent years constructing precise, quantitative measures of the slants of media … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex – GBP/USD Tumbles To 6-week Low On Growth Concerns

Posted: 05 Sep 2011 07:44 AM PDT

Forexpros – The pound tumbled to a six-week low against the U.S. dollar in quiet trade on Monday, after data showing a sharp slowdown in U.K. services sector activity added to concerns over the country's economic outlook.

GBP/USD hit 1.6062 during European late afternoon trade, the pair's lowest since July 20; the pair subsequently consolidated at 1.6083, tumbling 0.82%.

Cable was likely to find support at 1.6004, the low of July 18 and resistance at 1.6252, last Friday's high.

The … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex – EUR/USD Extends Losses, Hits Fresh 3-week Low

Posted: 05 Sep 2011 07:32 AM PDT

Forexpros – The euro extended losses against the U.S. dollar on Monday, falling to a fresh three-week low as concerns over the ongoing debt crisis in the single currency bloc spurred demand for the safe haven dollar.

EUR/USD hit 1.4062 during European late afternoon trade, the pair's lowest since August 5; the pair subsequently consolidated at 1.4085, tumbling 0.84%.

The pair was likely to find support at 1.3950, the low of July 13 and resistance at 1.4287, last Friday's high.

The … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Crude Oil Futures Extend Sharp Losses On Global Outlook Fears

Posted: 05 Sep 2011 07:28 AM PDT

Forexpros – Crude oil futures were down sharply on Monday, tumbling to a fresh six-day low as deepening concerns over global growth prospects weighed on future oil-demand expectations.

On the New York Mercantile Exchange, light, sweet crude futures for delivery in October traded at USD84.11 a barrel during U.S. morning trade, plunging 2.71%.

It earlier fell as much as 2.85% to trade at USD84.03 a barrel, the lowest price since August 26.

Concerns that the global economic recovery is losing … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

One-eyed Men (who Would Be Kings)

Posted: 05 Sep 2011 12:02 AM PDT

As events turned south in Greece on Friday, the WSJ reported that a senior IMF economist expected a Greek default before March:
“I expect a hard default definitely before March, maybe this year, and it could come with this program review,” said a senior IMF economist who is keeping close tabs on the situation. “The chances for a second program are slim.”
Furthermore, the Greek bailout was dealt a blow as Angela Merkel’s CDU was soundly defeated in local elections over the weekend.

As investors … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards
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