Wednesday, October 5, 2011

DailyMarkets.com - Forex – Dollar Broadly Higher Amid Euro Zone Pessimism

DailyMarkets.com - Forex – Dollar Broadly Higher Amid Euro Zone Pessimism


Forex – Dollar Broadly Higher Amid Euro Zone Pessimism

Posted: 05 Oct 2011 03:05 AM PDT

Forexpros – The U.S. dollar was higher against most of its major counterparts on Wednesday, as concerns over the impact of the debt crisis in the euro zone weighed on demand for higher yielding assets.

During European morning trade, the greenback was higher against the euro, with EUR/USD shedding 0.31% to hit 1.3308.

Concerns over funding issues in the euro zone remained in focus after Moody's cut Italy's sovereign rating by three notches to A2 from Aa2, with a negative … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Crude Oil Futures Trade Above USD77 On Euro Zone Hopes

Posted: 05 Oct 2011 02:39 AM PDT

Forexpros – Crude oil futures were up sharply on Wednesday, boosted by reports that European Union finance officials were looking at a bank recapitalization plan and after industry data showed U.S. crude supplies declined unexpectedly last week.

On the New York Mercantile Exchange, light, sweet crude futures for delivery in November traded at USD77.29 a barrel during European morning trade, surging 2.15%.

It earlier rose by as much as 2.85% to trade at USD78.47 a barrel, the highest price … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Forex – GBP/USD Trims Losses After U.K. Services PMI

Posted: 05 Oct 2011 02:11 AM PDT

Forexpros – The pound trimmed losses against the U.S. dollar on Wednesday, retreating from the daily low after a report showing that growth in the U.K. service sector unexpectedly rebounded in September.

GBP/USD pulled back from 1.5412, the daily low, to hit 1.5456 during early European trade, still down 0.19% on the day.

Cable was likely to find support at 1.5339, Tuesday's low and an almost one-year low and resistance at 1.5585, Monday's high.

The Markit/CIPS services purchasing … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Euro Zone Retail Sales Fall More-than-expected In August

Posted: 05 Oct 2011 02:06 AM PDT

Forexpros – Retail sales in the euro zone fell more-than-expected in August, official data showed on Wednesday.

In a report, Eurostat said retail sales dipped by a seasonally adjusted 0.3% in August, after rising by 0.2% in July.

Analysts had expected euro zone retail sales to decline by 0.3%.

Year-over-year, retail sales in the euro zone fell at an annualized rate of 0.7% in August, after dropping at a rate of 0.3% in July, worse-than-expectations for a 0.7% drop.

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


U.K. Final Q2 GDP Declines Unexpectedly

Posted: 05 Oct 2011 01:49 AM PDT

Forexpros – The U.K. economy grew less than initially expected in the second quarter of 2011, official data showed on Wednesday.

In a report, the U.K.'s Office for National Statistics said gross domestic product rose at a seasonally adjusted rate of 0.1% during the second quarter, down from a previous estimate of 0.2%.

Annualized GDP rose at a rate of 0.6%, down from a prior reading of 0.7%.

The downward revision was due to a 0.3% cut in services sector growth, partly offset by a 0.6% … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Forex – USD/JPY Down As Euro Zone Debt Woes Weigh

Posted: 05 Oct 2011 01:48 AM PDT

Forexpros – The U.S. dollar was down against the yen on Wednesday, as concerns over the impact of the financial crisis in the euro zone on the global economy supported safe haven demand.

USD/JPY hit 76.62 during late Asian trade, the daily low; the pair subsequently consolidated at 76.67, slipping 0.17%.

The pair was likely to find support at 76.10, the low of September 22 and a one-month low and resistance at 77.02, the high of September 29.

Concerns over the financial crisis in the euro … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


U.K. Services PMI Rises Unexpectedly In September

Posted: 05 Oct 2011 01:42 AM PDT

Forexpros – Service sector activity in the U.K. rose unexpectedly in September, rebounding from an eight-month low, data showed on Wednesday.

In a report, market research group Markit said the seasonally adjusted Markit/CIPS Services Purchasing Managers Index rose to 52.9 in September from 51.1 in August.

Analysts had expected the index to decline to 50.5 in September.

On the index, a level above 50.0 indicates expansion in the industry, below 50.0 indicates contraction.

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


Gold Futures Edge Higher As Euro Zone Concerns Remain

Posted: 05 Oct 2011 01:34 AM PDT

Forexpros – Gold futures regained strength on Wednesday, after rating agency moody's downgraded Italy's sovereign debt rating, while reports that European Union finance officials were looking at a bank recapitalization plan limited gains.

On the Comex division of the New York Mercantile Exchange, gold futures for December delivery traded at USD1,625.55 a troy ounce during late Asian trade, gaining 0.59%.

It earlier rose by as much as 0.8% to trade at a daily high of USD1,636.35 a troy … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Forex – NZD/USD Erases Losses On Euro Zone Bank Plan Hopes

Posted: 05 Oct 2011 01:14 AM PDT

Forexpros – The New Zealand dollar erased losses against its U.S. counterpart on Wednesday, rebounding from a daily low, boosted by reports that European Union finance officials were looking at a bank recapitalization plan.

NZD/USD rebounded from 0.7554, the daily low, to hit 0.7624 during late Asian trade, rising 0.30%.

The pair was likely to find support at 0.7523, Monday's low and a seven-month low and resistance at 0.7709, September 30.

Market sentiment firmed up after a report in … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Euro Zone Final Services PMI Falls To 26-month Low

Posted: 05 Oct 2011 01:09 AM PDT

Forexpros – The euro zone’s services sector grew less than initially projected in September, falling to the lowest level since July 2009, data showed on Wednesday.

In a report, the market research group, Markit said the final euro zone services business activity index fell to 48.8 in September, down from a preliminary estimate of 49.1.

Analysts had expected the index to remain unchanged from a preliminary estimate of 49.1.

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


German Final Services PMI Drops To 26-month Low

Posted: 05 Oct 2011 01:04 AM PDT

Forexpros – Germany’s services sector purchasing managers index fell unexpectedly in September, contracting for the first time since July 2009, data showed on Wednesday.

In a report, Markit said Germany’s services PMI fell to 49.7 in September, down from a preliminary reading of 50.3.

Analysts had expected the index to remain unchanged at 50.3.

On the index, a level above 50.0 indicates expansion in the industry, below 50.0 indicates contraction.

Commenting on the report, Tim Moore, … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Forex – AUD/USD Pares Losses On Retail Sales Data

Posted: 05 Oct 2011 01:01 AM PDT

Forexpros – The Australian dollar pared losses against its U.S. counterpart on Wednesday, pulling back from the daily low after official data showed that retail sales rose more-than-expected in August.

AUD/USD pulled back from 0.9488, the daily low, to hit 0.9542 during late Asian trade, still down 0.28% on the day.

The pair was likely to find support at 0.9386, Tuesday's low and a one-year low and resistance at 0.9699, Monday's high.

The Australian Bureau of Statistics said retail … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Felix Zulauf, Eurozone Is Untenable Currency Union

Posted: 05 Oct 2011 01:00 AM PDT

Latest from Felix Zulauf, Felix is the smartest man on the planet regarding the Eurozone ebb and flow, he is a must listen advisor to all.

What does a European investor do ?
- Europe will go down the Japanese way of the 1990s
- Avoid debt nations
- Find corporations that are very clean and tidy within your own country
- Uk is not triple AAA, even though they are rated so.
- Uk austerity will cause deflation, and end up costing more to recover from a deflation bust.
- Ok hold some gold in … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Asia Stocks Mixed On Euro Zone Uncertainty; Nikkei Falls 0.9%

Posted: 05 Oct 2011 12:47 AM PDT

Forexpros – Asian stock markets were mixed on Wednesday, as ongoing uncertainty over the euro zone's sovereign debt crisis continued to weigh on Japanese exporters, while rising commodity prices boosted raw material producers in Australia.

During late Asian trade, Australia's ASX/200 Index jumped 1.4%, Japan's Nikkei 225 Index fell 0.9%, while Hong Kong’s Hang Seng Index was closed for a public holiday.

Late Tuesday, the Financial Times reported that euro zone finance ministers are … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Forex – EUR/USD Trims Losses On Bank Aid Hopes

Posted: 05 Oct 2011 12:33 AM PDT

Forexpros – The euro trimmed losses against the U.S. dollar on Wednesday, pulling back from the daily low amid speculation that European Union leaders are discussing measures to recapitalize the region's banks.

EUR/USD pulled away from 1.3260, the daily low, to hit 1.3319 during late Asian trade, still down 0.23% on the day.

The pair was likely to find support at 1.3144, Tuesday's low and an eight-and-a-half month low and resistance at 1.3600, the high of September 30.

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


Bank Of Uganda Ups Rate 400bps To 20.00%

Posted: 05 Oct 2011 12:33 AM PDT

The Bank of Uganda hiked its new monetary policy interest rate (the central bank rate [CBR]) by 400 basis points to 20.00% from 16.00% previously.  The Bank also raised the rediscount rate to 25.00% and the Bank Rate to 26.00%, by the same margin.  Bank of Uganda Governor, Emmanuel Tumusiime-Mutebile, said: “This should be seen as a clear signal to bring inflation under control,” signalling a hard-line against Uganda’s double digit inflation; “However, should … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Aggressive Growth Stock: Pinnacle Entertainment

Posted: 04 Oct 2011 11:05 PM PDT

 
PINNACLE ENTRTN (PNK): Free Stock Analysis … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Growth & Income Stock: Ventas, Inc.

Posted: 04 Oct 2011 11:05 PM PDT

 
VENTAS INC (VTR): Free Stock Analysis … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Bull Of The Day: Plains All American LP (PAA)

Posted: 04 Oct 2011 11:05 PM PDT

Plains All American Pipeline LP (NYSE:PAA) maintained its strong performance from the first quarter, with its revenues increasing across the board. Going forward, the partnership expects the strong performance to continue into the second half of 2011, and therefore raised its EBITDA forecast for 2011. This bullishness has also prompted analysts to raise their estimates for this year.
The 2011 Zacks Consensus Estimate has risen to $4.22 from $3.85 in the last 30 days. We believe the partnership’s … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Bear Of The Day: Federated Investors, Inc. (FII)

Posted: 04 Oct 2011 11:05 PM PDT

Federated Investors’ (NYSE:FII) second-quarter 2011 earnings were in line with the Zacks Consensus Estimate. Results reflected decreased top-line growth, increase in voluntary fee waivers, and increased operating expenses. These negatives were further offset by a rise in fixed income and equity assets as well as higher assets under management (AUM).
The regulatory backdrop, volatile equity markets and slow economic growth are anticipated to keep earnings under pressure. Therefore, we maintained … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Momentum Stock: Cash America Int.

Posted: 04 Oct 2011 11:05 PM PDT

 
CASH AM INTL (CSH): Free Stock Analysis … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Forex – EUR/USD Down During The Asian Session

Posted: 04 Oct 2011 10:55 PM PDT

Forexpros – The Euro was lower against the U.S. Dollar on Wednesday.

EUR/USD was trading at 1.3321, down 0.21% at time of writing.

The pair was likely to find support at 1.3147, Tuesday's low, and resistance at 1.3601, Friday's high.

Meanwhile, the Euro was up against the British Pound and down against the Japanese Yen, with EUR/GBP gaining 0.03% to hit 0.8623 and EUR/JPY falling 0.37% to hit … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Forex – GBP/USD Down In Asian Trade

Posted: 04 Oct 2011 10:25 PM PDT

Forexpros – The British Pound was lower against the U.S. Dollar on Wednesday.

GBP/USD was trading at 1.5439, down 0.31% at time of writing.

The pair was likely to find support at 1.5341, Tuesday's low, and resistance at 1.5666, Friday's high.

Meanwhile, the British Pound was up against the Euro and down against the Japanese Yen, with EUR/GBP shedding 0.02% to hit 0.8618 and GBP/JPY falling 0.50% to hit … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Forex Trading: EUR/USD Testing Support @ 1.32828

Posted: 04 Oct 2011 09:33 PM PDT

After a sell off in the EUR earlier, the EUR/USD traded down to the 50.0% line on the move from yesterday's low to today's high; we have seen a moderate rebound and are currently seeing some short-term support around … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Truckonomics: Truck Sales Shift Into High Gear

Posted: 04 Oct 2011 08:24 PM PDT

More than 7 millions light trucks were sold in September, which was the highest monthly sales count for trucks in 3 and-one-half years going all the way back to March of 2008 (see chart above).  September truck sales were up by 9.5% compared to August and up by 20.3% compared to last September.  Why are truck sales important? 

According to AutoNation Chairman and CEO Mike Jackson:

“I’ve always said, when you want to know when this economy is going to turn, just watch the … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Forex – Dollar Mixed In Mid-day Asian Trade

Posted: 04 Oct 2011 08:12 PM PDT

Forexpros –
Forexpros – The U.S. dollar was mixed against its major counterparts in Asian trade Wednesday, as Wall Street closed higher on hopes for action on European debt while the U.S. Federal Reserve Chairman painted a dim outlook for the economy.

In mid-day Asian trade, the greenback was higher against the euro, with EUR/USD falling 0.44% to hit 1.3291.

On Tuesday, finance officials from the European Union were reported studying ways to coordinate a recapitalization of regional … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Time To Reenter Gold?

Posted: 04 Oct 2011 07:39 PM PDT

Stock markets are tumbling from Japan to Wall Street. Already shaky Spanish and Italian financial instruments are quaking in their fancy boots as Greece does not make the cuts needed to be able to receive financial assistance. Vladimir Putin, a prototypical example of a classic Russian Bear says that the American Bull has blunted horns and suffers from impotence. He states, "Americans are living beyond their means and shifting the weight of their problems to the world economy…They are … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Forex – USD/JPY Declines In Mid-day Asian Trade

Posted: 04 Oct 2011 07:39 PM PDT

Forexpros –
Forexpros – The U.S. dollar moved lower against the Japanese yen in Asian trade Wednesday, with encouraging moves on European debt and Wall Street gains peeling away some enthusiasm for the safe-haven greenback.

In mid-day Asian trade USD/JPY hit 76.62, the pair's highest since Monday; the pair subsequently consolidated at 76.67, slipping 0.18%.

The pair was likely to find support at 76.10, the low of September 22, and resistance at 77.25, Monday's high.

Tuesday U.S. … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Asian Stocks Mixed In Early Trade; Nikkei Falls 0.3%

Posted: 04 Oct 2011 07:12 PM PDT

Forexpros –
Forexpros – Asian stocks were mixed in Wednesday trade, encouraged by progress on European debt but tempered by a dim outlook for the U.S. economy and prospects for export growth from the region.

During early Asian trade, Hong Kong's Hang Seng Index gave up 3.40% to 16,250.27, Japan's Nikkei Index slipped 0.3% to 8,439.51, while Australia's S&P/ASX 200 aded 0.78% to 3,902.30.
The Topix Index of all shares listed on the first section of the Tokyo Stock Exchange, fell … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Forex – AUD/USD Declines In Early Asian Trade

Posted: 04 Oct 2011 06:31 PM PDT

Forexpros – Forexpros – The Australian dollar moved lower against the U.S. dollar Wednesday, following the Reserve Bank of Australia's decision to put a hold on interest rates.
AUD/USD hit 0.9513 in early Asian trade, the pair's lowest since Tuesday; the pair subsequently consolidated at 0.9526, falling 0.50%.
The pair was likely to find support at 0.9390, Tuesday's low, and resistance at 0.9700, Monday's high.
On Tuesday, the Reserve Bank of Australia voted to maintain current … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Markets In Everything: Black Market Pesticides

Posted: 04 Oct 2011 06:27 PM PDT

NY Times — “The recent arrests of vendors in Chinatown accused of selling an illegal, highly potent pesticide apparently smuggled from China opened a window on the underground trade in chemicals used to combat roaches, rats and other vermin in New York City’s immigrant neighborhoods.” 

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


Crude Oil Bounces Back In Early Asian Trade

Posted: 04 Oct 2011 05:50 PM PDT

Forexpros –
Forexpros – Crude oil futures moved higher in Asian trade Wednesday, after briefly falling below USD75 a barrel as a bleak outlook on the U.S. economy diminished prospects for increased demand from the world's largest energy consumer.

On the New York Mercantile Exchange light, sweet crude futures for November delivery traded at USD78.06 a barrel during early Asian trade, adding 0.49%, after hitting a daily low of USD75.67.

Earlier Tuesday, crude futures sank to USD74.95, their … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Forex – AUD/USD Down On Economic Data

Posted: 04 Oct 2011 05:50 PM PDT

Forexpros – The Australian Dollar was lower against the U.S. Dollar on Wednesday after the release of Australian data on Retail Sales.

AUD/USD was trading at 0.9504, down 0.71% at time of writing.

The pair was likely to find support at 0.9390, Tuesday's low, and resistance at 0.9810, Friday's high.

Earlier in the day, official data showed that Retail sales in Australia rose more-than-expected to a seasonally adjusted 0.6% last month from 0.5% in the preceding month.

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


Australian Retail Sales Rise More-than-expected

Posted: 04 Oct 2011 05:45 PM PDT

Forexpros – Retail sales in Australia rose more-than-expected last month, official data showed on Wednesday.

In a report, Australian Bureau of Statistics said that Australian retail sales rose to a seasonally adjusted 0.6%, from 0.5% in the preceding month.

Analysts had expected Australian retail sales to rise 0.2% last … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Some Upsides To The Downside

Posted: 04 Oct 2011 05:33 PM PDT

I spend a lot of time at Financial Armageddon focusing on the negative fallout from our nation’s continuing slide into the economic abyss, but as with most things in life, there can be upsides to the downside. As the following reports suggest, some of the risks, hassles, and anxieties of automobile travel have diminished as less people take to the road (whether willingly or not):
“Traffic Report: Slow Economy Speeds Commutes” (Wall Street Journal’s The Juggle)
One … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Gov. Christie Is Out And Romney Intrade Odds Surge

Posted: 04 Oct 2011 04:29 PM PDT

Intrade odds for Romney to be the 2012 Republican presidential nominee surged more than ten points today to 57.4% (see chart above), as he was apparently the main beneficiary of Gov. Chris Christie’s announcement this afternoon that he would not run for president.  At 57.4% odds, Romney now leads second-place Rick Perry by a record-setting 38 … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Daily Indices Update: UK100

Posted: 04 Oct 2011 06:32 AM PDT

By ForexMansion.com
by, James A. Hyerczyk
A late session rise in global equity prices triggered a strong breakout to the upside by the UK100 index CFD on the 30-minute chart. The size of the candlestick on the breakout indicates this move may have been a combination of short-covering and strength buying. The inability to follow-through to the upside during the next time period suggests it was probably the latter of the two.

The overall quality of the chart pattern is an average 5-bars. The … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


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