Monday, October 3, 2011

DailyMarkets.com - Forex Trading: EURJPY Reaches New Lows Since Mid 2001

DailyMarkets.com - Forex Trading: EURJPY Reaches New Lows Since Mid 2001


Forex Trading: EURJPY Reaches New Lows Since Mid 2001

Posted: 03 Oct 2011 07:39 AM PDT

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


Bank Of America’s Audacity: Why You Should Switch From Debit Cards To Credit Cards

Posted: 03 Oct 2011 07:35 AM PDT

Last week, Bank of America (NYSE:BAC) announced that they will start charging a $5 monthly fee on their debit cards, and it seems like other banks will be charging similar debit card fees in the months to come. This $5 monthly fee adds up to an annual fee of $60! That's a lot of money, especially if you don't use your debit card that often. I always thought that using credit cards was a better way to make purchases compared to debit cards, and this news article only reinforced my view. … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Forex Trading: USDJPY Falls To Trendline Support

Posted: 03 Oct 2011 07:29 AM PDT

The USDJPY has moved lowe  and tests trendline support at the 76.51 level. The move has been helped by a steady decline through support levels today, including the 50% of the move down from the Spetember high at the 76.976 level, the 38.2% at 76.77,  the 100 hour MA at 76.69, 200 hour MA at 76.54.  Each of these levels will now be topside resistance for corrective moves higher in the pair.
A move below the trendline support will next target 76.41, then the 76.25 area which has a … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Forex – EUR/JPY Extends Losses On Deepening E.Z. Worries

Posted: 03 Oct 2011 07:29 AM PDT

Forexpros – The euro extended losses against the yen on Monday, hovering close to a ten-year low as concerns over the worsening euro zone debt crisis and a possible Greek default prompted investors to pile into safer assets.

EUR/JPY hit 102.17 during European afternoon trade, the pair’s lowest since September 26; the pair subsequently consolidated at 102.06, tumbling 1.06%.

The pair was likely to find support at 101.92, the low of September 26 and resistance at 103.72, the high of September … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Forex – USD/CAD Erases Gains After ISM PMI Rises

Posted: 03 Oct 2011 07:12 AM PDT

Forexpros – The U.S. dollar erased gains against its Canadian counterpart on Monday, easing back from a one-year high after a report showed that U.S. manufacturing activity rose unexpectedly in September.

USD/CAD pulled away from 1.0523, the pair's highest since September 3, 2010, to hit 1.0457 during early U.S. trade, shedding 0.44%.

The pair was likely to find support at 1.0349, last Friday's low and resistance at 1.0655, the high of September 1, 2010.

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


U.S. ISM Manufacturing PMI Rises Unexpectedly In September

Posted: 03 Oct 2011 07:07 AM PDT

Forexpros – Manufacturing activity in the U.S. rose unexpectedly in September, industry data showed on Monday.

In a report, the Institute for Supply Management said its index of purchasing managers rose to 51.6 in September from 50.6 in August.

Analysts had expected the ISM index of purchasing managers to ease down to 50.5 in September.

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

The report showed that the ISM index of manufacturing prices … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Forex Trading: EURUSD Moves Higher On Initial Reaction To ISM Index

Posted: 03 Oct 2011 07:01 AM PDT

Construction spending also better.
For the EURUSD, the 1.3341 level is where the 100 and 200 bar on the 5 minute chart is found.  A move above is needed to scare the short who have seemed comfortable in the NY session.  Above the 1.3341 is the 1.3361 (low from September 26th), 1.3384 (low from September 22nd) and 1.3394 (gap from Friday).  The 1.34077 is the 50% of the move up from the June 2010 low to the May 2011 … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Genworth Financial Upgraded

Posted: 03 Oct 2011 06:54 AM PDT

We are upgrading Genworth Financial Inc. (NYSE:GNW) to Neutral from Underperform as the company remains focused on the robust performance of its Retirement and Protection segment, lower delinquencies and strong scores with the rating agencies.
To focus more on its Retirement and Protection segment, Genworth agreed to sell its Medicare supplement business and related blocks of  its in-force business. The company inked the deal to sell the Medicare biz to Aetna Inc. for $290 million.
The … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Emdeon Transfers USHEI To CAQH

Posted: 03 Oct 2011 06:54 AM PDT

Emdeon (EM) primarily regarded as a network provider, which facilitates electronic transactions among payers, providers and pharmacies, recently revealed that it has arrived at an agreement with CAQH to shift management and proprietorship of the U.S. Healthcare Efficiency Index ("USHEI") to the latter.
Emdeon set up the USHEI, in 2008, as an industry mechanism for checking business efficiency in the medical industry. The index presents a nation-wide reference to monitor the usage of … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


European Stocks Extend Losses On E.Z. Worries; DAX Falls 2.62%

Posted: 03 Oct 2011 06:48 AM PDT

Forexpros – European stock markets extended losses on Monday, as concerns deepened over the euro zone sovereign debt crisis and Greece’s financial woes.

During European afternoon trade, the EURO STOXX 50 fell 2.16%, France's CAC 40 dropped 2.24%, while Germany's DAX 30 posted a 2.62% decline.

Risk sentiment remained weak amid concerns over the impact of a possible Greek default on the European banking sector after Greece’s finance minister said Sunday that the country would not meet … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Stock Market News Briefs: Citigroup, Global Payments, Heartland Payment Systems, Ingersoll-Rand Company, Micron Technology, MEMC Electronic Materials, Wynn Resorts, Limited

Posted: 03 Oct 2011 06:35 AM PDT

    Lower-than-expected demand for residential and commercial security systems in North America led to Ingersoll-Rand Plc (NYSE:IR) reducing its third-quarter and full-year guidance

    Orion Marine Group, Inc (ORN) said that it expects its profit margins to be adversely impacted by weak economic conditions and delays in federal government spending

    Concerns about slower Chinese economic growth is expected to affect Wynn Resorts Ltd’s (NASDAQ:WYNN) … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


MetroPCS Expands 4G Portfolio

Posted: 03 Oct 2011 06:35 AM PDT

MetroPCS Communications Inc. (NYSE:PCS), one of the leading providers of unlimited pre-paid wireless service in the US, recently supplemented its product portfolio with the latest release of 4G-based smartphones called "LG Esteem."
The new handset, which is primarily targeted toward the fun loving customers, features a 5 MP camera that supports HD video recordings and is based on popular Android 2.3 (Gingerbread) platform. The wireless device is available with 8 GB of internal storage capacity … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Will This Quarter Be Any Better?

Posted: 03 Oct 2011 06:35 AM PDT

With the third quarter turbulence now firmly behind us, we can all look forward to something stable in the last quarter of the year. We will likely see some favorable movement on the key macro questions that have weighed on the market lately. The most important of these macro questions pertain to the U.S. economic growth outlook and the unsettled European situation.

A host of economic reports this week will provide us further color on the health of the U.S. economy. With the September non-farm … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


United Slips To Neutral

Posted: 03 Oct 2011 06:35 AM PDT

We have downgraded our recommendation from Outperform to Neutral on United Continental Holdings Inc. (UAL), with surging fuel prices, adverse weather conditions and uncertain economic conditions diluting our optimism.
Fuel prices climbed 45.2% in the recently concluded second quarter, thereby increasing the company's operating expense. In addition, the drop in demand for air travel following the March 11 earthquake and tsunami in Japan hurt passenger revenues by about $100 million and … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Cotton Slumps To 7-week Low On Global Demand Outlook

Posted: 03 Oct 2011 06:33 AM PDT

Forexpros – Cotton futures were down sharply for a second day on Monday, slumping to a seven-week low as a combination of easing concerns over U.S. crop conditions and worries over a slowdown in top consumer China drove prices lower.

On the ICE Futures U.S. Exchange, cotton futures for December delivery traded at USD0.9869 a pound during European morning trade, dropping 1.5%.

It earlier fell by as much as 1.8% to trade at USD0.9828 a pound, the lowest price since August 12.

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


Congress Considers Raising Taxes On American Consumers And Firms Buying Chinese Imports

Posted: 03 Oct 2011 06:21 AM PDT

Here we go again…..

WASHINGTON (AP) — “After years of unsuccessfully trying to force American consumers and businesses to pay higher prices for Chinese imports, Congress is taking another stab at retaliating against what many see as Chinese manipulation of its currency to make its exports to the United States cheaper for Americans and U.S. goods more expensive in China.

The Senate is expected to take up legislation Monday that would impose higher U.S. duties taxes on Americans buying … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Forex Trading: GBPUSD Hanging Around Daily 50% Fibo Level

Posted: 03 Oct 2011 06:15 AM PDT

The GBPUSD has been testing the 50% of  the move up from the May 2010 at the 1.54868 level today. The price has moved below it on three separate occasions (see hourly chart below) and each time, the move has found buyers. The most recent in the last hour of trading, saw a new low at the 1.5479 level.  The price is still staying around the level.  So a further decline is still possible.  There is further support against the 61.8% of the move up from the September 22nd … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Forex – Dollar Extends Broad Gains As Euro Slumps

Posted: 03 Oct 2011 06:06 AM PDT

Forexpros – The U.S. dollar remained broadly higher against its major counterparts on Monday, as growing concerns over a possible default by Greece fanned fears over contagion to the euro zone's banking sector.

During European afternoon trade, the greenback was up against the euro, with EUR/USD falling 0.59% to hit 1.3309.

Concerns over a debt default by Greece mounted after the Greek government said Sunday it will miss its deficit reduction targets this year.

Later in the day, euro zone … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Earnings Preview: Costco Wholesale

Posted: 03 Oct 2011 06:05 AM PDT

Costco Wholesale Corporation (NASDAQ:COST), one of the leading U.S. warehouse club operators, is slated to report its fourth-quarter 2011 financial results on October 5, 2011. The current Zacks Consensus Estimate for the quarter is $1.09 a share. For the quarter to be reported, the Zacks Consensus Estimate for revenue is $27,886 million.
Third-Quarter 2011, a Synopsis
Costco Wholesale Corporation posted third-quarter 2011 earnings of 73 cents per share that fell short of the Zacks Consensus Estimate … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


CBL Consolidates In Chattanooga

Posted: 03 Oct 2011 06:05 AM PDT

CBL & Associates Properties, Inc. (NYSE:CBL) recently announced that it has signed an agreement to acquire Northgate Mall in Chattanooga, TN, for $11.5 million. The transaction is expected to close by October, 6 2011.
Northgate Mall is an 823,000-square-foot regional mall located in CBL's hometown of Chattanooga. The mall is strategically located with easy accessibility and greater visibility and is currently 91.0% leased. Following the closure of this transaction, CBL plans to reinvigorate … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Q3 Comes To An End & Q4 Expectations

Posted: 03 Oct 2011 06:00 AM PDT

10/03/11 NYFP’s “Wall Street Lingo”: Stephen Guilfoyle of Meridian Partners offers us a brief recap of Q3 while also diving into what to expect from … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


U.S. Futures Point Lower On E.Z. Debt Woes; Dow Falls 0.57%

Posted: 03 Oct 2011 05:31 AM PDT

Forexpros – U.S. stock futures pointed to a broadly lower open on Monday, tracking losses in global equities as concerns over a possible Greek default weighed on market sentiment.

Ahead of the open, the Dow Jones Industrial Average futures pointed to a drop of 0.57%, S&P 500 futures signaled a 0.58% decline, while the Nasdaq 100 futures indicated a 0.86% fall.

Market sentiment weakened as concerns over a potential Greek default grew after Greece’s Prime Minister said on Sunday that the … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Deal Completed, BJ’s Delisted

Posted: 03 Oct 2011 05:26 AM PDT

BJ's Wholesale Club Inc. (BJ) recently announced the completion of its buyout by Leonard Green & Partners and CVC Capital Partners for $2.8 billion. Following the announcement, the shares of the company got delisted today from the New York Stock Exchange.
Earlier, the majority of its shareholders approved the offer of Leonard Green & Partners and CVC Capital Partners for making the company private. The company stated that approximately 72% of its shareholders approved the deal, while … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Texas Bank Fails, Tally Hits 74

Posted: 03 Oct 2011 05:26 AM PDT

Last Friday, U.S. regulators shuttered Plano, Texas-based First International Bank, taking the number of failed banks thus far in 2011 to 74. This follows 157 bank failures in 2010, 140 in 2009 and 25 in 2008.
While the financials of a few large banks have been stabilizing on the back of an economic recovery, the industry is still struggling to survive. Nagging issues like rock-bottom home prices along with still-high loan defaults and unemployment levels continue to trouble such … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Forex – GBP/USD Close To 1-week Low Amid Easing Fears

Posted: 03 Oct 2011 05:18 AM PDT

Forexpros – The pound remained down against the U.S. dollar on Monday, trading close to a one-week low, weighed by a combination of concerns over the debt crisis in the euro zone and speculation over fresh easing measures by the Bank of England.

GBP/USD hit 1.5484 during European afternoon trade, the pair's lowest since September 26; the pair subsequently consolidated at 1.5499, shedding 0.53%.

Cable was likely to find support at 1.5431, the low of September 26 and resistance at 1.5664, … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


The Closure Of Stock Market Operations On 9/11/01

Posted: 02 Oct 2011 11:55 PM PDT

10/03/11 NYFP’s “Wall Street History”: This week, the closure of the US equity markets on and following the events of 9/11/01 are … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Forex – EUR/USD Remains Lower Amid Debt Concerns

Posted: 03 Oct 2011 04:55 AM PDT

Forexpros – The euro remained lower against the U.S. dollar on Monday, hovering close to an eight-month low amid ongoing concerns over the euro zone debt crisis and a potential Greek default.

EUR/USD hit 1.3314 during European afternoon trade, the pair’s lowest since January 18; the pair subsequently consolidated at 1.3342, shedding 0.33%.

The pair was likely to find support at 1.3088, the low of January 13 and resistance at 1.3522, the high of January 20.

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


Corn Futures Tumble To 10-month Low On Increased U.S. Supplies

Posted: 03 Oct 2011 04:43 AM PDT

Forexpros – Corn futures were down sharply for a second day on Monday, tumbling to a ten-month low as larger-than-expected U.S. corn supplies continued to pressure prices.

On the Chicago Mercantile Exchange, corn futures for December delivery traded at USD5.7875 a bushel during European morning trade, tumbling 2.19%.

It earlier fell by as much as 2.9% to trade at USD5.7238 a bushel, the lowest price since December 13, 2010.

The U.S. Department of Agriculture said in its quarterly Grain … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Forex – EUR/GBP Edges Higher As BoE Easing Fears Weigh

Posted: 03 Oct 2011 04:20 AM PDT

Forexpros – The euro edged higher against the pound on Monday, as speculation that the Bank of England may implement fresh monetary easing to bolster faltering U.K. growth weighed on sterling.

EUR/GBP hit 0.8634 during European early afternoon trade, the daily high; the pair subsequently consolidated at 0.8706, gaining 0.20%.

The pair was likely to find support at 0.8562, the days low and a three-week low and resistance at 0.8636.

The pound fell sharply earlier in the session, hitting the … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Forex – USD/CHF Edges Higher In Risk-off Trade

Posted: 03 Oct 2011 03:53 AM PDT

Forexpros – The U.S. dollar edged higher against the Swiss franc on Monday, as sustained concerns over the sovereign debt crisis in the euro zone boosted safe haven demand.

USD/CHF hit 0.9129 during European morning trade, the pair’s highest since September 26; the pair subsequently consolidated at 0.9085, edging up 0.09%.

The pair was likely to find support at 0.8963, the low of September 30 and resistance at 0.9781, the high of September 22.

Market sentiment weakened as concerns over a … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Too Many Bullets For Stocks To Dodge

Posted: 03 Oct 2011 12:13 AM PDT

Admit it. We are in a cyclical bear market. The stock market has too many bullets to dodge. Despite the ugly returns seen the 3Q, there is more downside potential from current levels. Here are the big macro risks that I remain concerned about:

Europe:  The market is still expecting either that Greek default will somehow be avoided or a TARP-like rescue of the banking system. Neither is going to happen. Add to the mix of a looming recession and you have the precursors of a market … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


EUR/JPY Extends Losses On Deepening E.Z. Worries

Posted: 02 Oct 2011 08:32 PM PDT

By ForexMansion.com
Forexpros – The euro extended losses against the yen on Monday, hovering close to a ten-year low as concerns over the worsening euro zone debt crisis and a possible Greek default prompted investors to pile into safer assets.
EUR/JPY hit 102.17 during European afternoon trade, the pair's lowest since September 26; the pair subsequently consolidated at 102.06, tumbling 1.06%.
The pair was likely to find support at 101.92, the low of September 26 and resistance at 103.72, … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


USD/CAD Erases Gains After ISM PMI Rises

Posted: 02 Oct 2011 08:32 PM PDT

By ForexMansion.com
Forexpros – The U.S. dollar erased gains against its Canadian counterpart on Monday, easing back from a one-year high after a report showed that U.S. manufacturing activity rose unexpectedly in September.
USD/CAD pulled away from 1.0523, the pair's highest since September 3, 2010, to hit 1.0457 during early U.S. trade, shedding 0.44%.
The pair was likely to find support at 1.0349, last Friday's low and resistance at 1.0655, the high of September 1, 2010.
The Institute … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


U.S. ISM Manufacturing PMI Rises Unexpectedly In September

Posted: 02 Oct 2011 08:32 PM PDT

By ForexMansion.com
Forexpros – Manufacturing activity in the U.S. rose unexpectedly in September, industry data showed on Monday.
In a report, the Institute for Supply Management said its index of purchasing managers rose to 51.6 in September from 50.6 in August.
Analysts had expected the ISM index of purchasing managers to ease down to 50.5 in September.
On the index, a reading above 50.0 indicates industry expansion, below indicates contraction.
The report showed that the ISM index of … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Cotton Slumps To 7-week Low On Global Demand Outlook

Posted: 02 Oct 2011 08:03 PM PDT

By ForexMansion.com
Forexpros – Cotton futures were down sharply for a second day on Monday, slumping to a seven-week low as a combination of easing concerns over U.S. crop conditions and worries over a slowdown in top consumer China drove prices lower.
On the ICE Futures U.S. Exchange, cotton futures for December delivery traded at USD0.9869 a pound during European morning trade, dropping 1.5%.
It earlier fell by as much as 1.8% to trade at USD0.9828 a pound, the lowest price since August … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


European Stocks Extend Losses On E.Z. Worries; DAX Falls 2.62%

Posted: 02 Oct 2011 08:03 PM PDT

By ForexMansion.com
Forexpros – European stock markets extended losses on Monday, as concerns deepened over the euro zone sovereign debt crisis and Greece's financial woes.
During European afternoon trade, the EURO STOXX 50 fell 2.16%, France's CAC 40 dropped 2.24%, while Germany's DAX 30 posted a 2.62% decline.
Risk sentiment remained weak amid concerns over the impact of a possible Greek default on the European banking sector after Greece's finance minister said Sunday that the … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Forex – Dollar Extends Broad Gains As Euro Slumps

Posted: 02 Oct 2011 07:33 PM PDT

By ForexMansion.com
Forexpros – The U.S. dollar remained broadly higher against its major counterparts on Monday, as growing concerns over a possible default by Greece fanned fears over contagion to the euro zone's banking sector.
During European afternoon trade, the greenback was up against the euro, with EUR/USD falling 0.59% to hit 1.3309.
Concerns over a debt default by Greece mounted after the Greek government said Sunday it will miss its deficit reduction targets this year.
Later in … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


U.S. Futures Point Lower On E.Z. Debt Woes; Dow Falls 0.57%

Posted: 02 Oct 2011 07:03 PM PDT

By ForexMansion.com
Forexpros – U.S. stock futures pointed to a broadly lower open on Monday, tracking losses in global equities as concerns over a possible Greek default weighed on market sentiment.
Ahead of the open, the Dow Jones Industrial Average futures pointed to a drop of 0.57%, S&P 500 futures signaled a 0.58% decline, while the Nasdaq 100 futures indicated a 0.86% fall.
Market sentiment weakened as concerns over a potential Greek default grew after Greece's Prime Minister said … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


GBP/USD Close To 1-week Low Amid Easing Fears

Posted: 02 Oct 2011 06:33 PM PDT

By ForexMansion.com
Forexpros – The pound remained down against the U.S. dollar on Monday, trading close to a one-week low, weighed by a combination of concerns over the debt crisis in the euro zone and speculation over fresh easing measures by the Bank of England.
GBP/USD hit 1.5484 during European afternoon trade, the pair's lowest since September 26; the pair subsequently consolidated at 1.5499, shedding 0.53%.
Cable was likely to find support at 1.5431, the low of September 26 and … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


EUR/USD Remains Lower Amid Debt Concerns

Posted: 02 Oct 2011 06:02 PM PDT

By ForexMansion.com
Forexpros – The euro remained lower against the U.S. dollar on Monday, hovering close to an eight-month low amid ongoing concerns over the euro zone debt crisis and a potential Greek default.
EUR/USD hit 1.3314 during European afternoon trade, the pair's lowest since January 18; the pair subsequently consolidated at 1.3342, shedding 0.33%.
The pair was likely to find support at 1.3088, the low of January 13 and resistance at 1.3522, the high of January 20.
The single … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Corn Futures Tumble To 10-month Low On Increased U.S. Supplies

Posted: 02 Oct 2011 06:02 PM PDT

By ForexMansion.com
Forexpros – Corn futures were down sharply for a second day on Monday, tumbling to a ten-month low as larger-than-expected U.S. corn supplies continued to pressure prices.
On the Chicago Mercantile Exchange, corn futures for December delivery traded at USD5.7875 a bushel during European morning trade, tumbling 2.19%.
It earlier fell by as much as 2.9% to trade at USD5.7238 a bushel, the lowest price since December 13, 2010.
The U.S. Department of Agriculture said in its … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


EUR/GBP Edges Higher As BoE Easing Fears Weigh

Posted: 02 Oct 2011 05:32 PM PDT

By ForexMansion.com
Forexpros – The euro edged higher against the pound on Monday, as speculation that the Bank of England may implement fresh monetary easing to bolster faltering U.K. growth weighed on sterling.
EUR/GBP hit 0.8634 during European early afternoon trade, the daily high; the pair subsequently consolidated at 0.8706, gaining 0.20%.
The pair was likely to find support at 0.8562, the days low and a three-week low and resistance at 0.8636.
The pound fell sharply earlier in the … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Dollar Index: Bullish Outlook Intact For A Move Towards The 79.59 Level

Posted: 02 Oct 2011 05:30 PM PDT

By ForexMansion.com
US Dollar Index: Although closing marginally higher the past week following a reversal of its two-day losses from the 77.30 level, the Index continues to maintain its medium term bullishness triggered from the 72.69 level. On further bullish offensive, the Index will aim at the 79.59 level with a violation of there allowing more strength towards its Nov'2011 high at 81.44. Above here if seen will set the stage for a run at the 83.55 level, its Aug'2011 high. Both its … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Copper Plunges To 14-month Low On Greece, China Concerns

Posted: 02 Oct 2011 05:02 PM PDT

By ForexMansion.com
Forexpros – Copper futures were down for a fourth day on Monday, plunging to a 14-month low as ongoing fears over a potential Greek default and fresh concerns over China's economic outlook dragged down prices.
On the Comex division of the New York Mercantile Exchange, copper futures for December delivery traded at USD3.063 a pound during European morning trade, tumbling 2.8%.
It earlier fell by as much as 3.9% to trade at USD2.998 a pound, the lowest price since July 21, … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


USD/CHF Edges Higher In Risk-off Trade

Posted: 02 Oct 2011 05:02 PM PDT

By ForexMansion.com
Forexpros – The U.S. dollar edged higher against the Swiss franc on Monday, as sustained concerns over the sovereign debt crisis in the euro zone boosted safe haven demand.
USD/CHF hit 0.9129 during European morning trade, the pair's highest since September 26; the pair subsequently consolidated at 0.9085, edging up 0.09%.
The pair was likely to find support at 0.8963, the low of September 30 and resistance at 0.9781, the high of September 22.
Market sentiment weakened … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


European Stocks Drop On Greek Default Speculation; DAX Falls 2.63%

Posted: 02 Oct 2011 04:32 PM PDT

By ForexMansion.com
Forexpros – European stock markets fell sharply on Monday, on reports Greece will not be able to meet deficit targets this year, leading the country closer to a potential default.
During European morning trade, the EURO STOXX 50 fell 2.44%, France's CAC 40 dropped 2.55%, while Germany's DAX 30 posted a 2.63% decline.
European equities were hit after Greek Prime Minister George Papandreou announced on Sunday that the country would not meet deficit targets this year. A … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


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