Tuesday, October 4, 2011

DailyMarkets.com - European Stocks Decline Amid Ongoing Debt Worries; DAX Drops 2.86%

DailyMarkets.com - European Stocks Decline Amid Ongoing Debt Worries; DAX Drops 2.86%

European Stocks Decline Amid Ongoing Debt Worries; DAX Drops 2.86%

Posted: 04 Oct 2011 03:21 AM PDT

Forexpros – European stock markets declined for the third consecutive day on Tuesday, amid ongoing concerns that Greece’s financial troubles could spread within the region’s banking sector and accelerate a global economic slowdown.

During European morning trade, the EURO STOXX 50 fell 2.05%, France's CAC 40 dropped 2.10%, while Germany's DAX 30 posted a 2.86% decline.

European equities continued to tumble after European finance ministers postponed on Monday a decision on the release of … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – Dollar Higher Vs. Most Rivals In Risk-off Trade

Posted: 04 Oct 2011 02:45 AM PDT

Forexpros – The U.S. dollar was broadly higher against its major counterparts on Tuesday, as fears over the potential impact of a default by Greece on the global economy prompted investors to shun riskier assets.

During European morning trade, the greenback edged lower against the euro, with EUR/USD easing up 0.14% to hit 1.3194.

On Monday, European finance ministers postponed a decision on the release of Greece's next tranche of aid until a meeting on October 17. The ministers were to … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Crude Oil Futures Fall To 8-week Low On Greece, U.S. Dollar

Posted: 04 Oct 2011 02:26 AM PDT

Forexpros – Crude oil futures were down for a third day on Tuesday, dropping to an eight-week low as lingering concerns over a possible Greek sovereign debt default and a firm U.S. dollar reduced the appeal of commodities.

On the New York Mercantile Exchange, light, sweet crude futures for delivery in November traded at USD76.47 a barrel during European morning trade, tumbling 1.46%.

It earlier fell as much as 1.8% to trade at USD75.95 a barrel, the lowest price since August 9.

Market … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – GBP/USD Extends Losses After Weak U.K. PMI Data

Posted: 04 Oct 2011 02:08 AM PDT

Forexpros – The pound extended losses against the U.S. dollar on Tuesday, falling to a seven-day low after data showed that construction activity in the U.K. fell to a 10-month low in September.

GBP/USD hit 1.5378 during European morning trade, the pair's lowest since September 23; the pair subsequently consolidated at 1.5401, sliding 0.19%.

Cable was likely to find support at 1.5330, the low of September 23 and a one-year low and resistance at 1.5491, the high of the same day.

The … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Euro Zone PPI Eases Less-than-expected In August

Posted: 04 Oct 2011 02:06 AM PDT

Forexpros – Producer price inflation in the euro zone declined less-than-expected in August, official data showed on Tuesday.

In a report, Eurostat said that its producer price index eased 0.1% in August, after rising by 0.5% in July.

Analysts had expected the producer price index to ease by 0.2% in August.

Year-over-year, the index rose at an annualized rate of 5.9% in August, above expectations for a 5.8% increase, after rising at a rate of 6.1% in July.

Following the release of the … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – USD/JPY Edges Higher On Sustained E.Z. Concerns

Posted: 04 Oct 2011 01:52 AM PDT

Forexpros – The U.S. dollar was fractionally higher against the yen on Tuesday, as ongoing concerns over Greece’s financial woes and the global economic outlook continued.

USD/JPY hit 76.74 during early European trade, the daily high; the pair subsequently consolidated at 76.64, inching up 0.04%.

The pair was likely to find support at 76.25, the low of September 27 and resistance at 77.02, the high of September 29.

On Monday, European finance ministers postponed a decision on the release … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

U.K. Construction PMI Down More-than-expected

Posted: 04 Oct 2011 01:42 AM PDT

Forexpros – Britain’s construction sector activity weakened more-than-expected in September, slowing to near-stagnation, industry data showed on Tuesday.

In a report, market research firm Markit and the Chartered Institute of Purchasing & Supply said that their U.K. construction purchasing managers’ index fell to a seasonally adjusted 50.1 in September from 52.6 in August.

Economists had expected the index to decline to 51.6 in September.

On the index, a level above 50.0 indicates … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Gold Futures Climb To 7-day High As Greece Default Fears Remain

Posted: 04 Oct 2011 01:33 AM PDT

Forexpros – Gold futures were up for a fourth day on Tuesday, climbing to a seven-day high as ongoing fears over an imminent Greek debt default and sharp declines in global equity markets boosted the appeal of the precious metal.

On the Comex division of the New York Mercantile Exchange, gold futures for December delivery traded at USD1,669.75 a troy ounce during late Asian trade, gaining 0.73%.

It earlier rose by as much as 1.03% to trade at USD1,680.65 a troy ounce, the highest price … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – NZD/USD Trades Close To 7-month Low Amid E.Z. Woes

Posted: 04 Oct 2011 01:17 AM PDT

Forexpros – The New Zealand dollar was steady against its U.S. counterpart on Tuesday, trading close to a seven-month low amid concerns over the impact of a potential Greek default on the global economy.

NZD/USD hit 0.7497 during early European trade, the pair’s lowest since March 29; the pair subsequently consolidated at 0.7531, edging down 0.06%.

The pair was likely to find support at 0.7421, the low of March 24 and resistance at 0.7641, Monday’s high.

Market sentiment was weak after a … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – AUD/USD Hits One-year Low After RBA Leaves Rates Unchanged

Posted: 04 Oct 2011 01:09 AM PDT

Forexpros – The Australian dollar dropped to a one-year low against its U.S. counterpart on Tuesday, after the Reserve Bank of Australia left interest rates unchanged, amid uncertainty over the global economic outlook.

AUD/USD hit 0.9414 during late Asian trade, the pair’s lowest since September 21, 2010; the pair subsequently consolidated at 0.9438, dropping 0.92%.

The pair was likely to find support at 0.9360, the low of September 20, 2010 and resistance at 0.9699, Monday’s high.

Earlier … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Asia Stocks Drop As Greece Fears Remain; Nikkei Falls 1.1%

Posted: 04 Oct 2011 12:50 AM PDT

Forexpros – Asian stock markets were sharply lower for a second day on Tuesday, with financials and exporters extending declines from the previous session as fears over an imminent Greek debt default continued to weigh on sentiment.

During late Asian trade, Hong Kong’s Hang Seng Index tumbled 3%, Australia's ASX/200 Index dropped 0.7%, while Japan's Nikkei 225 Index fell 1.2%.

Mounting fears over an imminent Greek default remained after euro zone finance ministers delayed the approval … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – EUR/USD Hovering Close To 81/2 Month Low

Posted: 04 Oct 2011 12:38 AM PDT

Forexpros – The euro was hovering close to an eight-and-a-half month low against the U.S. dollar on Tuesday, as concerns over the impact of a Greek sovereign default on the global economy saw investors shed riskier assets.

EUR/USD hit 1.3163 during late Asian trade, the pair's lowest since January 13; the pair subsequently consolidated at 1.3181, easing up 0.04%.

The pair was likely to find support at 1.3088, the low of January 13 and resistance at 1.3380, Monday's high.

On Monday, the … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex Trading: USD Stronger In Recent Trade

Posted: 04 Oct 2011 12:26 AM PDT

The USD has made modest gains against all of the majors in recent trade after Spain's Salgado made comments that the Greek rescue package will not be increased and S&P warned of a double dip recession in Europe.
From an hourly perspective, the NZD/USD has been developing a bearish channel since last Tuesday. If the market continues to buy US dollars, we may see the pair re-visit the .74926 lows; 38.2% line to the … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Reserve Bank Of Australia Leaves Interest Rate Unchanged

Posted: 04 Oct 2011 12:23 AM PDT

Forexpros – The Reserve Bank of Australia kept its benchmark interest rate unchanged for the eleventh straight meeting in October, it announced on Tuesday.

In a statement, the RBA said it was keeping its benchmark interest rate unchanged at 4.75%, broadly in line with expectations.

In its accompanying rate statement, the RBA said it judged that it was prudent to maintain the current stance of monetary policy, citing the uncertain global outlook.

"Conditions in global financial markets … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Australia Building Approvals Jump In August

Posted: 04 Oct 2011 12:16 AM PDT

Forexpros – The number of new building approvals issued in Australia jumped significantly more-than-expected in August, official data showed on Tuesday.

In a report, the Australian Bureau of Statistics said new building approvals issued jumped by a seasonally adjusted 11.4% in August, blowing past expectations for a 1.1% gain.

The previous month's figure was revised up to a 1.8% gain from a previously reported 1.0% increase.

Year-on-year, the number of building approvals issued in … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Reserve Bank Of Australia Keeps Rate At 4.75%

Posted: 04 Oct 2011 12:04 AM PDT

The Reserve Bank of Australia (RBA) kept the cash rate unchanged at 4.75%.  The RBA said: “Taking into account all the recent information, the path for inflation may now be more consistent with the 2–3 per cent target in 2012 and 2013, abstracting from the impact of the carbon pricing scheme. This assessment will be reviewed on receipt of further data on prices ahead of the Board’s next meeting. An improved inflation outlook would increase the scope for monetary policy to … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Growth & Income Stock: Boston Properties, Inc.

Posted: 03 Oct 2011 11:05 PM PDT

 
BOSTON PPTYS (BXP): Free Stock Analysis … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Bull Of The Day: Agrium, Inc. (AGU)

Posted: 03 Oct 2011 11:05 PM PDT

Agrium, Inc. (NYSE:AGU) delivered net earnings of $4.54 per share in the second quarter of 2011, surpassing the Zacks Consensus Estimate of $4.21. The strong quarter was supported by record high crop prices and overall strong fundamentals for agriculture and the crop input market.
Recently, Agrium acquired Cerealtoscana S.p.A. (CT) and its subsidiary Agroport for $27 million plus working capital. The acquired business is included in the Wholesale operating segment. With strong markets across most … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Bear Of The Day: W.R. Berkley Corp. (WRB)

Posted: 03 Oct 2011 11:05 PM PDT

We are downgrading our recommendation on W.R. Berkley Corp. (NYSE:WRB) to Underperform from Neutral, reflecting slightly lower investment yield assumptions and modestly higher loss ratio forecasts which would eat into underwriting margins.
Berkley has been hurt by soft pricing conditions and increasing competition. The trend of loss claims shows a divergence from declining losses over the past several years. An increase in claim costs will offset the premium rate improvement seen lately, thus … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – EUR/USD Up During The Asian Session

Posted: 03 Oct 2011 10:55 PM PDT

Forexpros – The Euro was higher against the U.S. Dollar on Tuesday.

EUR/USD was trading at 1.3208, up 0.24% at time of writing.

The pair was likely to find support at 1.3164, Monday's low, and resistance at 1.3679, Thursday's high.

Meanwhile, the Euro was up against the British Pound and the Japanese Yen, with EUR/GBP gaining 0.11% to hit 0.8548 and EUR/JPY rising 0.31% to hit … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – GBP/USD Up In Asian Trade

Posted: 03 Oct 2011 10:25 PM PDT

Forexpros – The British Pound was higher against the U.S. Dollar on Tuesday.

GBP/USD was trading at 1.5456, up 0.15% at time of writing.

The pair was likely to find support at 1.5420, Monday's low, and resistance at 1.5716, Thursday's high.

Meanwhile, the British Pound was down against the Euro and up against the Japanese Yen, with EUR/GBP gaining 0.13% to hit 0.8549 and GBP/JPY rising 0.22% to hit … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

There Really Is No Trade Imbalance To Eliminate, So Eliminating A Fictional Deficit Won’t Create Jobs

Posted: 03 Oct 2011 09:04 PM PDT

What imbalance?

According to C. Fred Bergsten (Director of the Peterson Institute for International Economics) writing in the NY Times:

“The U.S. runs an annual trade deficit of about $600 billion, or 4 percent of our entire economy. Eliminating that imbalance would create three million to four million jobs, according to Commerce Department estimates, at no cost to the budget.”

Don  Boudreaux responds, and Mr. Bergsten responds to Don here.

Here are some comments:

1. There really is … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – Dollar Mixed In Mid-day Asian Trade

Posted: 03 Oct 2011 08:16 PM PDT

Forexpros –
Forexpros – The U.S. dollar was mixed against its major counterparts in Asian trade Tuesday, on speculation that Greece's inability to meet European guidelines for debt progress may delay payment of its latest tranche of rescue funds.

In mid-day Asian trade, the greenback was lower against the euro, with EUR/USD rising 0.24% to hit 1.3208.

Earlier Monday, the Greek government announced its 2011 fiscal deficit would total 8.5% of gross domestic product, well short of the 7.6% … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – USD/JPY Gains Ground In Mid-day Asian Trade

Posted: 03 Oct 2011 07:44 PM PDT

Forexpros –
Forexpros – The U.S. dollar moved higher against the Japanese yen in Asian trade Tuesday, with investor concerns on European debt sending dealers to the safe-haven greenback.

In mid-day Asian trade USD/JPY hit 76.74, the pair's highest since Monday; the pair subsequently consolidated at 76.68, adding 0.11%.

The pair was likely to find support at 75.97, the low of August 19, and resistance at 77.86 the high of September 9.

Earlier Monday, the Greek government announced its … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Asian Stocks Decline In Early Trade; Nikkei Falls 1.8%

Posted: 03 Oct 2011 07:14 PM PDT

Forexpros –
Forexpros – Asian stocks fell in Tuesday trade, on renewed fears concerning European sovereign debt and the overnight downturn on Wall Street.

During early Asian trade, Hong Kong's Hang Seng Index gave up 0.54% to 16,731.60, Japan's Nikkei Index retreated 1.75% to 8,395.58, while Australia's S&P/ASX 200 dropped 0.22% to 3,888.50.
The Topix Index of all shares listed on the first section of the Tokyo Stock Exchange, fell 1.93% to trade at 732.72.
Earlier Monday, the … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Long Term Look On The PCOMP

Posted: 03 Oct 2011 06:51 PM PDT

The outlook for the Philippine Composite Index (PCOMP) has turned sour when it broke its long term support a couple of weeks back. Over a longer term, though, it seems that the index could fall into a deeper ditch.
But before the index plunges, it could first rally up to around 4,100 to 4,300 as what I've written in my previous post (kindly see it here). As you can see on its weekly chart, the index has formed a bullish hammer candlestick pattern following its sharp descent. This … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – AUD/USD Continues Slide In Early Asian Trade

Posted: 03 Oct 2011 06:38 PM PDT

Forexpros –
Forexpros – The Australian dollar moved lower against the U.S. dollar Tuesday, falling to its lowest level in over a year, on renewed investor worries over the European debt crisis and ahead of a key vote by Australia's central bank on interest rates.

AUD/USD hit 0.9496 in early Asian trade, the pair's lowest since September 24 of 2010; the pair subsequently consolidated at 0.9501, falling 0.29%.

The pair was likely to find support at 0.9463, the low of September 2010, and … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex Trading: Usdhkd Stuck In A Daily Wedge

Posted: 03 Oct 2011 06:15 PM PDT

usd/hkd bounced off the bottom of this wedge for the third time. usd/hkd might stay in the wedge until we see a clear sign of a break out through one of the sides of the … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex Trading: Usdhkd 4hr Chart, Downward Channel

Posted: 03 Oct 2011 06:18 PM PDT

usdhkd is still trading in this downward channel showing no signs of a break … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex Trading: Usdcnh Forming A Wedge In The 4hr Chart

Posted: 03 Oct 2011 06:20 PM PDT

usd/cnh starting to form a wedge in this 4hr … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Crude Oil Pads Losses In Early Asian Trade

Posted: 03 Oct 2011 06:05 PM PDT

Forexpros –
Forexpros – Crude oil futures moved lower in Asian trade Tuesday, on expectations of a decline in global energy demand in light of falling equities on renewed concerns of debt default by Greece.

On the New York Mercantile Exchange light, sweet crude futures for November delivery traded at USD76.28 a barrel during early Asian trade, falling 0.35%, after hitting a daily low of USD76.67.

Earlier Monday, the Greek government announced its 2011 fiscal deficit would total 8.5% of … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – AUD/USD Down On Economic Data

Posted: 03 Oct 2011 05:50 PM PDT

Forexpros – The Australian Dollar was lower against the U.S. Dollar on Tuesday after the release of Australian data on Trade Balance.

AUD/USD was trading at 0.9484, down 0.46% at time of writing.

The pair was likely to find support at 0.9477, today's low, and resistance at 0.9878, Thursday's high.

Earlier in the day, official data showed that Australia's trade balance rose more-than-expected to a seasonally adjusted 3.10B last month from 1.83B in the preceding month.

Analysts had … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Australia’s Trade Balance Rises More-than-expected

Posted: 03 Oct 2011 05:45 PM PDT

Forexpros – Australia's trade balance rose more-than-expected last month, official data showed on Tuesday.

In a report, Australian Bureau of Statistics said that Australia's trade balance rose to a seasonally adjusted 3.10B, from 1.83B in the preceding month.

Analysts had expected Australia's trade balance to rise 2.14B last … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – Dollar Higher Vs. Most Rivals In Risk-off Trade

Posted: 03 Oct 2011 04:02 PM PDT

By ForexMansion.com
Forexpros – The U.S. dollar was broadly higher against its major counterparts on Tuesday, as fears over the potential impact of a default by Greece on the global economy prompted investors to shun riskier assets.
During European morning trade, the greenback edged lower against the euro, with EUR/USD easing up 0.14% to hit 1.3194.
On Monday, European finance ministers postponed a decision on the release of Greece's next tranche of aid until a meeting on October 17. The … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

GBP/USD Extends Losses After Weak U.K. PMI Data

Posted: 03 Oct 2011 03:32 PM PDT

By ForexMansion.com
Forexpros – The pound extended losses against the U.S. dollar on Tuesday, falling to a seven-day low after data showed that construction activity in the U.K. fell to a 10-month low in September.
GBP/USD hit 1.5378 during European morning trade, the pair's lowest since September 23; the pair subsequently consolidated at 1.5401, sliding 0.19%.
Cable was likely to find support at 1.5330, the low of September 23 and a one-year low and resistance at 1.5491, the high of the … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Euro Zone PPI Eases Less-than-expected In August

Posted: 03 Oct 2011 03:32 PM PDT

By ForexMansion.com
Forexpros – Producer price inflation in the euro zone declined less-than-expected in August, official data showed on Tuesday.
In a report, Eurostat said that its producer price index eased 0.1% in August, after rising by 0.5% in July.
Analysts had expected the producer price index to ease by 0.2% in August.
Year-over-year, the index rose at an annualized rate of 5.9% in August, above expectations for a 5.8% increase, after rising at a rate of 6.1% in July.
Following the … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Crude Oil Futures Fall To 8-week Low On Greece, U.S. Dollar

Posted: 03 Oct 2011 03:32 PM PDT

By ForexMansion.com
Forexpros – Crude oil futures were down for a third day on Tuesday, dropping to an eight-week low as lingering concerns over a possible Greek sovereign debt default and a firm U.S. dollar reduced the appeal of commodities.
On the New York Mercantile Exchange, light, sweet crude futures for delivery in November traded at USD76.47 a barrel during European morning trade, tumbling 1.46%.
It earlier fell as much as 1.8% to trade at USD75.95 a barrel, the lowest price since … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Gold Futures Climb To 7-day High As Greece Default Fears Remain

Posted: 03 Oct 2011 03:02 PM PDT

By ForexMansion.com
Forexpros – Gold futures were up for a fourth day on Tuesday, climbing to a seven-day high as ongoing fears over an imminent Greek debt default and sharp declines in global equity markets boosted the appeal of the precious metal.
On the Comex division of the New York Mercantile Exchange, gold futures for December delivery traded at USD1,669.75 a troy ounce during late Asian trade, gaining 0.73%.
It earlier rose by as much as 1.03% to trade at USD1,680.65 a troy ounce, the … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

USD/JPY Edges Higher On Sustained E.Z. Concerns

Posted: 03 Oct 2011 03:02 PM PDT

By ForexMansion.com
Forexpros – The U.S. dollar was fractionally higher against the yen on Tuesday, as ongoing concerns over Greece's financial woes and the global economic outlook continued.
USD/JPY hit 76.74 during early European trade, the daily high; the pair subsequently consolidated at 76.64, inching up 0.04%.
The pair was likely to find support at 76.25, the low of September 27 and resistance at 77.02, the high of September 29.
On Monday, European finance ministers postponed a … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

U.K. Construction PMI Down More-than-expected

Posted: 03 Oct 2011 03:02 PM PDT

By ForexMansion.com
Forexpros – Britain's construction sector activity weakened more-than-expected in September, slowing to near-stagnation, industry data showed on Tuesday.
In a report, market research firm Markit and the Chartered Institute of Purchasing & Supply said that their U.K. construction purchasing managers' index fell to a seasonally adjusted 50.1 in September from 52.6 in August.
Economists had expected the index to decline to 51.6 in September.
On the index, a level … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

NZD/USD Trades Close To 7-month Low Amid E.Z. Woes

Posted: 03 Oct 2011 02:32 PM PDT

By ForexMansion.com
Forexpros – The New Zealand dollar was steady against its U.S. counterpart on Tuesday, trading close to a seven-month low amid concerns over the impact of a potential Greek default on the global economy.
NZD/USD hit 0.7497 during early European trade, the pair's lowest since March 29; the pair subsequently consolidated at 0.7531, edging down 0.06%.
The pair was likely to find support at 0.7421, the low of March 24 and resistance at 0.7641, Monday's high.
Market … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

AUD/USD Hits One-year Low After RBA Leaves Rates Unchanged

Posted: 03 Oct 2011 02:32 PM PDT

By ForexMansion.com
Forexpros – The Australian dollar dropped to a one-year low against its U.S. counterpart on Tuesday, after the Reserve Bank of Australia left interest rates unchanged, amid uncertainty over the global economic outlook.
AUD/USD hit 0.9414 during late Asian trade, the pair's lowest since September 21, 2010; the pair subsequently consolidated at 0.9438, dropping 0.92%.
The pair was likely to find support at 0.9360, the low of September 20, 2010 and resistance at 0.9699, … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Asia Stocks Drop As Greece Fears Remain; Nikkei Falls 1.1%

Posted: 03 Oct 2011 02:01 PM PDT

By ForexMansion.com
Forexpros – Asian stock markets were sharply lower for a second day on Tuesday, with financials and exporters extending declines from the previous session as fears over an imminent Greek debt default continued to weigh on sentiment.
During late Asian trade, Hong Kong's Hang Seng Index tumbled 3%, Australia's ASX/200 Index dropped 0.7%, while Japan's Nikkei 225 Index fell 1.2%.
Mounting fears over an imminent Greek default remained after euro zone finance ministers … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

EUR/USD Hovering Close To 81/2 Month Low

Posted: 03 Oct 2011 02:01 PM PDT

By ForexMansion.com
Forexpros – The euro was hovering close to an eight-and-a-half month low against the U.S. dollar on Tuesday, as concerns over the impact of a Greek sovereign default on the global economy saw investors shed riskier assets.
EUR/USD hit 1.3163 during late Asian trade, the pair's lowest since January 13; the pair subsequently consolidated at 1.3181, easing up 0.04%.
The pair was likely to find support at 1.3088, the low of January 13 and resistance at 1.3380, Monday's … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Australia Building Approvals Jump In August

Posted: 03 Oct 2011 01:32 PM PDT

By ForexMansion.com
Forexpros – The number of new building approvals issued in Australia jumped significantly more-than-expected in August, official data showed on Tuesday.
In a report, the Australian Bureau of Statistics said new building approvals issued jumped by a seasonally adjusted 11.4% in August, blowing past expectations for a 1.1% gain.
The previous month's figure was revised up to a 1.8% gain from a previously reported 1.0% increase.
Year-on-year, the number of building approvals … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Reserve Bank Of Australia Leaves Interest Rate Unchanged

Posted: 03 Oct 2011 01:32 PM PDT

By ForexMansion.com
Forexpros – The Reserve Bank of Australia kept its benchmark interest rate unchanged for the eleventh straight meeting in October, it announced on Tuesday.
In a statement, the RBA said it was keeping its benchmark interest rate unchanged at 4.75%, broadly in line with expectations.
In its accompanying rate statement, the RBA said it judged that it was prudent to maintain the current stance of monetary policy, citing the uncertain global outlook.
"Conditions in global … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

EUR/USD Up During The Asian Session

Posted: 03 Oct 2011 12:02 PM PDT

By ForexMansion.com
Forexpros – The Euro was higher against the U.S. Dollar on Tuesday.
EUR/USD was trading at 1.3208, up 0.24% at time of writing.
The pair was likely to find support at 1.3164, Monday's low, and resistance at 1.3679, Thursday's high.
Meanwhile, the Euro was up against the British Pound and the Japanese Yen, with EUR/GBP gaining 0.11% to hit 0.8548 and EUR/JPY rising 0.31% to hit 101.26.
Forexpros

About ForexMansion.com:

The Finance Mansion Network operates a global … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

GBP/USD Up In Asian Trade

Posted: 03 Oct 2011 11:32 AM PDT

By ForexMansion.com
Forexpros – The British Pound was higher against the U.S. Dollar on Tuesday.
GBP/USD was trading at 1.5456, up 0.15% at time of writing.
The pair was likely to find support at 1.5420, Monday's low, and resistance at 1.5716, Thursday's high.
Meanwhile, the British Pound was down against the Euro and up against the Japanese Yen, with EUR/GBP gaining 0.13% to hit 0.8549 and GBP/JPY rising 0.22% to hit 118.50.
Forexpros

About ForexMansion.com:

The Finance Mansion … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – Dollar Mixed In Mid-day Asian Trade

Posted: 03 Oct 2011 09:32 AM PDT

By ForexMansion.com
Forexpros –
Forexpros – The U.S. dollar was mixed against its major counterparts in Asian trade Tuesday, on speculation that Greece's inability to meet European guidelines for debt progress may delay payment of its latest tranche of rescue funds.
In mid-day Asian trade, the greenback was lower against the euro, with EUR/USD rising 0.24% to hit 1.3208.
Earlier Monday, the Greek government announced its 2011 fiscal deficit would total 8.5% of gross domestic product, well … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

USD/JPY Gains Ground In Mid-day Asian Trade

Posted: 03 Oct 2011 09:02 AM PDT

By ForexMansion.com
Forexpros –
Forexpros – The U.S. dollar moved higher against the Japanese yen in Asian trade Tuesday, with investor concerns on European debt sending dealers to the safe-haven greenback.
In mid-day Asian trade USD/JPY hit 76.74, the pair's highest since Monday; the pair subsequently consolidated at 76.68, adding 0.11%.
The pair was likely to find support at 75.97, the low of August 19, and resistance at 77.86 the high of September 9.
Earlier Monday, the Greek … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Asian Stocks Decline In Early Trade; Nikkei Falls 1.8%

Posted: 03 Oct 2011 08:32 AM PDT

By ForexMansion.com
Forexpros –
Forexpros – Asian stocks fell in Tuesday trade, on renewed fears concerning European sovereign debt and the overnight downturn on Wall Street.
During early Asian trade, Hong Kong's Hang Seng Index gave up 0.54% to 16,731.60, Japan's Nikkei Index retreated 1.75% to 8,395.58, while Australia's S&P/ASX 200 dropped 0.22% to 3,888.50.
The Topix Index of all shares listed on the first section of the Tokyo Stock Exchange, fell 1.93% to trade at … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

AUD/USD Continues Slide In Early Asian Trade

Posted: 03 Oct 2011 08:02 AM PDT

By ForexMansion.com
Forexpros –
Forexpros – The Australian dollar moved lower against the U.S. dollar Tuesday, falling to its lowest level in over a year, on renewed investor worries over the European debt crisis and ahead of a key vote by Australia's central bank on interest rates.
AUD/USD hit 0.9496 in early Asian trade, the pair's lowest since September 24 of 2010; the pair subsequently consolidated at 0.9501, falling 0.29%.
The pair was likely to find support at 0.9463, the low of … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Crude Oil Pads Losses In Early Asian Trade

Posted: 03 Oct 2011 07:32 AM PDT

By ForexMansion.com
Forexpros –
Forexpros – Crude oil futures moved lower in Asian trade Tuesday, on expectations of a decline in global energy demand in light of falling equities on renewed concerns of debt default by Greece.
On the New York Mercantile Exchange light, sweet crude futures for November delivery traded at USD76.28 a barrel during early Asian trade, falling 0.35%, after hitting a daily low of USD76.67.
Earlier Monday, the Greek government announced its 2011 fiscal deficit … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

AUD/USD Down On Economic Data

Posted: 03 Oct 2011 07:02 AM PDT

By ForexMansion.com
Forexpros – The Australian Dollar was lower against the U.S. Dollar on Tuesday after the release of Australian data on Trade Balance.
AUD/USD was trading at 0.9484, down 0.46% at time of writing.
The pair was likely to find support at 0.9477, today's low, and resistance at 0.9878, Thursday's high.
Earlier in the day, official data showed that Australia's trade balance rose more-than-expected to a seasonally adjusted 3.10B last month from 1.83B in the preceding … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Australia’s Trade Balance Rises More-than-expected

Posted: 03 Oct 2011 07:02 AM PDT

By ForexMansion.com
Forexpros – Australia's trade balance rose more-than-expected last month, official data showed on Tuesday.
In a report, Australian Bureau of Statistics said that Australia's trade balance rose to a seasonally adjusted 3.10B, from 1.83B in the preceding month.
Analysts had expected Australia's trade balance to rise 2.14B last month.
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Gold Advances In Early Asian Trade

Posted: 03 Oct 2011 06:32 AM PDT

By ForexMansion.com
Forexpros –
Forexpros – Gold futures traded higher in Asian trade Tuesday, as renewed fears of a Greek default coupled with a downturn in global equities lured investors back to the safe-haven precious metal.
On the Comex division of the New York Mercantile Exchange, gold futures for December delivery traded at USD1,669.15 a troy ounce during early Asian trade, adding 0.78%, after hitting a low of USDS1,656.85.
Earlier Monday, the Greek government announced its 2011 … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards
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