Monday, October 3, 2011

DailyMarkets.com - Short The Aussie And Kiwi Dollar

DailyMarkets.com - Short The Aussie And Kiwi Dollar

Short The Aussie And Kiwi Dollar

Posted: 03 Oct 2011 04:16 AM PDT

The Austrialian and New Zealand economies didnt really suffer in 2008, for the sole reason they both enjoy the export demand from a highly stimulated China. Guess what happens to the lands down under if China is not so stimulated.

Currency ETFs to consider: FXA and BNZ

Lets review this from New Zealands point of view. Australia is much the same.

New Zealand has just been downgrade by Fitch and Moodys.

The Question: The Finance Minister, Bill English, says the double downgrade doesn't … [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: 03 Oct 2011 03:32 AM PDT

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, 2010.

Fears over … [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: 03 Oct 2011 03:10 AM PDT

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 draft of the 2012 … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – Dollar Broadly Higher Amid Euro Debt Concerns

Posted: 03 Oct 2011 02:46 AM PDT

Forexpros – The U.S. dollar was broadly higher against its major counterparts on Monday, as concerns over a debt default by Greece mounted, after the Greek government said it will miss its deficit reduction target this year.

During European morning trade, the greenback was up against the euro, with EUR/USD shedding 0.22% to hit 1.3356.

Later in the day, euro zone finance ministers were to meet to discuss options for increasing the capacity of the region's bailout fund, the European … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Crude Oil Futures Trade Below USD78 As Global Outlook Weighs

Posted: 03 Oct 2011 02:24 AM PDT

Forexpros – Crude oil futures were down sharply for a second day on Monday, dropping to a one-week low as lingering concerns over the sovereign debt crisis in the euro zone 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 USD77.80 a barrel during European morning trade, tumbling 1.77%.

It earlier fell as much as 2.15% to trade at USD77.37 a barrel, the lowest price since September … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – GBP/USD Pulls Away From 1-week Low After PMI

Posted: 03 Oct 2011 02:03 AM PDT

Forexpros – The pound trimmed losses against the U.S. dollar on Monday, pulling away from a one-week low after a report showing that manufacturing activity in the U.K. rebounded from a 26-month low in September.

GBP/USD pulled back from 1.5484, the pair's lowest since September 26, to hit 1.5518 during early European trade, still down 0.40%.

Cable was likely to find support at 1.5431, the low of September 26 and resistance at 1.5664, last Friday's high.

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

Forex – USD/JPY Down Amid Fresh Euro Zone Concerns

Posted: 03 Oct 2011 01:55 AM PDT

Forexpros – The U.S. dollar was down against the yen on Monday, retreating from a two-week high as renewed concerns over the handling of the euro zone debt crisis boosted safe have demand for the yen.

USD/JPY pulled back from 77.27 during early European trade, the pair’s highest since September 15 to hit 76.81, shedding 0.30%.

The pair was likely to find support at 76.33, the low of September 28 and resistance at 77.58, the high of September 12.

The U.S. dollar weakened against the yen as … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Gold Futures Surge 2% On Mounting Greek Default Fears

Posted: 03 Oct 2011 01:40 AM PDT

Forexpros – Gold futures were up for a third day on Monday, climbing to a three-day high as mounting fears over a possible Greek debt default and a sharp drop in global equities boosted the appeal of the precious metal.

On the Comex division of the New York Mercantile Exchange, gold futures for December delivery traded at USD1,657.85 a troy ounce during late Asian trade, surging 2.19%.

It earlier rose by as much as 2.3% to trade at USD1,659.45 a troy ounce, the highest price since September … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

U.K. Manufacturing PMI Rebounds In September

Posted: 03 Oct 2011 01:36 AM PDT

Forexpros – Manufacturing activity in the U.K. rose unexpectedly in September, rebounding from a 26-month low, official data showed on Monday.

In a report, market research group Markit said that its U.K. manufacturing PMI rose to a seasonally adjusted 51.1 in September, up from a reading of 49.4 in August, whose figure was revised up from 49.0.

Analysts had expected the manufacturing PMI to decline to 48.5 in September.

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

Forex – AUD/USD Touches Ten-month Low On E.Z. Woes

Posted: 03 Oct 2011 01:24 AM PDT

Forexpros – The Australian dollar was down against its U.S. counterpart on Monday, touching a ten-month low as ongoing concerns over the euro zone debt crisis continued to weigh on market sentiment.

AUD/USD hit 0.9594 during late Asian trade, the pair’s lowest since December 1; the pair subsequently consolidated at 0.9653, edging down 0.06%.

The pair was likely to find support at 0.9535, the low of December 1 and resistance at 0.9808, the high of September 30.

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

Forex Trading: Eurozone Manufacturing PMI (Sept) 48.5 Vs. 48.4 Expected (49.0 Prior) – Lowest Since August 2009.

Posted: 03 Oct 2011 01:02 AM PDT

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


Forex – NZD/USD Sharply Lower On Renewed Greece Concerns

Posted: 03 Oct 2011 01:00 AM PDT

Forexpros – The New Zealand dollar was sharply lower against its U.S. counterpart on Monday, falling to a six-month low as renewed concerns over a potential Greek default dampened risk sentiment.

NZD/USD hit 0.7572 during late Asian trade, the pair’s lowest since March 30; the pair subsequently consolidated at 0.7612, inching down 0.02%.

The pair was likely to find support at 0.7421, the low of March 24 and resistance at 0.7709, the high of September 30.

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

Asia Stocks Tumble On Global Outlook; Nikkei Drops 1.8%

Posted: 03 Oct 2011 12:48 AM PDT

Forexpros – Asian stock markets tumbled on Monday, with financials and exporters leading losses as market sentiment was weighed amid ongoing fears over a potential Greek default, while shares in Hong Kong plunged to a 28-month low amid fresh fears over China's economic outlook.

During late Asian trade, Hong Kong’s Hang Seng Index plunged 4%, Australia's ASX/200 Index dropped 2.7%, while Japan's Nikkei 225 Index fell 1.8%.

Fears over a potential Greek default intensified over the … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Swiss SVME PMI Falls More-than-expected In September

Posted: 03 Oct 2011 12:46 AM PDT

Forexpros – Manufacturing activity in Switzerland fell more-than-expected in September, dropping into contraction territory, industry data showed on Monday.

In a report, the Swiss SVME purchasing managers’ association and Credit Suisse said that its purchasing managers' index declined to a seasonally adjusted 48.2 in September from 51.7 in August.

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

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

Bank Of Albania Cuts Rate 25bps To 5.00%

Posted: 03 Oct 2011 12:46 AM PDT

The Bank of Albania decreased its main monetary policy interest rate by 25 basis points to 5.00% from 5.25% previously.  Bank of Albania Governor, Adrian Fullani, said: “The Supervisory Council decided to decrease the basic interest rate by 0.25 percent, by making its value 5 percent. This serves the achievement of the inflation’s objective in middle-term periods and at the same time it offers the necessary monetary conditions to stimulate economic activities in the country. I … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – EUR/USD Hits 8-month Low As Debt Woes Weigh

Posted: 03 Oct 2011 12:37 AM PDT

Forexpros – The euro fell to an eight-month low against the U.S. dollar on Monday, as concerns over the impact of the region's debt crisis on global growth weighed on market sentiment.

EUR/USD hit 1.3314 during late Asian trade, the pair's lowest since January 18; the pair subsequently consolidated at 1.3330, shedding 0.39%.

The pair was likely to find support at 1.3088, the low of January 13 and short-term resistance at 1.3376, the day's high.

Later Monday, finance ministers from … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Central Banking After The Crisis (Research Review)

Posted: 03 Oct 2011 12:34 AM PDT

The Bank for International Settlements (BIS) released an interesting piece of research entitled ‘Central Banking post-crisis: What compass for uncharted waters?’ by Claudio Borio The essay covers the challenges emerging from the crisis that central banks must face, these challenges are economic, intellectual, and institutional.  The essay provides a “compass” for central banks to use in thinking about the challenges presented by the crisis, and more importantly the post-crisis … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Swiss Retail Sales Drop Unexpectedly In August

Posted: 03 Oct 2011 12:21 AM PDT

Forexpros – Retail sales in Switzerland fell unexpectedly in August, official data showed on Monday.

In a report, Switzerland's Federal Statistical Office said that retail sales declined at an annualized rate of 1.9% in August, confounding expectations for a 4.5% increase.

July's figure was revised up to a 2.9% increase from a previously reported 1.9% gain.

Month-over-month, Swiss retail sales tumbled by 3.9% in August, after falling by a revised 2.7% in July.

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

Momentum Stock: Hi-Tech Pharmacal

Posted: 02 Oct 2011 11:05 PM PDT

 
HI TECH PHARMA (HITK): Free Stock Analysis … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Growth & Income Stock: Kinder Morgan Energy Partners, L.P.

Posted: 02 Oct 2011 11:05 PM PDT

 
KINDER MORG ENG (KMP): Free Stock Analysis … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Bear Of The Day: Sears Holding Corp. (SHLD)

Posted: 02 Oct 2011 11:05 PM PDT

Sears Holdings Corp. (NASDAQ:SHLD) disappoints with its overall second-quarter 2011 results. The company’s adjusted loss of $1.13 per share was well above the Zacks Consensus Estimated loss of $0.64 per share, while widening drastically from the prior-year quarter loss of $0.19 per share, primarily due to a sluggish top-line performance.
Management’s cost-cutting initiatives for boosting profits did not help; improvement in merchandise mix and customer services would have been a better option. … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Bull Of The Day: Athenahealth, Inc. (ATHN)

Posted: 02 Oct 2011 11:05 PM PDT

We initiate our coverage on Athenahealth, Inc. (NASDAQ:ATHN) with an Outperform rating. Second-quarter fiscal 2011 earnings per share of $0.14 beat the Zacks Consensus Estimate of $0.11. Athenahealth’s web-based deployment provides a low-cost, scalable service while its flexible rules engine leads to higher efficiency in claims settlements.
The company has made rapid strides in capturing the EHR business of physician practices. However, this segment is shrinking as hospitals increasingly absorb … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – EUR/USD Down During The Asian Session

Posted: 02 Oct 2011 10:40 PM PDT

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

EUR/USD was trading at 1.3331, down 0.43% at time of writing.

The pair was likely to find support at 1.3314, today's low, and resistance at 1.3690, Wednesday's high.

Meanwhile, the Euro was up against the British Pound and down against the Japanese Yen, with EUR/GBP gaining 0.05% to hit 0.8594 and EUR/JPY falling 0.40% to hit … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – GBP/USD Down In Asian Trade

Posted: 02 Oct 2011 10:15 PM PDT

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

GBP/USD was trading at 1.5503, down 0.52% at time of writing.

The pair was likely to find support at 1.5492, today's low, and resistance at 1.5716, Thursday's high.

Meanwhile, the British Pound was down against the Euro and the Japanese Yen, with EUR/GBP gaining 0.001% to hit 0.8590 and GBP/JPY falling 0.52% to hit … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – EUR/CHF Down In Asian Trading Hours

Posted: 02 Oct 2011 09:50 PM PDT

Forexpros – The Euro was lower against the Swiss Franc on Monday.

EUR/CHF was trading at 1.2149, down 0.07% at time of writing.

The pair was likely to find support at 1.2126, Friday's low, and resistance at 1.2226, Wednesday's high.

Meanwhile, the Euro was down against the U.S. Dollar and the Japanese Yen, with EUR/USD shedding 0.43% to hit 1.3331 and EUR/JPY falling 0.49% to hit … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – USD/CHF Up During The Asian Session

Posted: 02 Oct 2011 09:20 PM PDT

Forexpros – The U.S. Dollar was higher against the Swiss Franc on Monday.

USD/CHF was trading at 0.9118, up 0.44% at time of writing.

The pair was likely to find support at 0.8919, Thursday's low, and resistance at 0.9118, today's high.

Meanwhile, the U.S. Dollar was up against the Euro and down against the Japanese Yen, with EUR/USD shedding 0.51% to hit 1.3320 and USD/JPY falling 0.08% to hit … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Debit Card Fees Spark Fury

Posted: 02 Oct 2011 09:00 PM PDT

10/03/11 Bank of America will begin charging $5 monthly debit card fees starting early next year. With some lenders testing this strategy to boost profits, customers may move to regional banks and credit … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – EUR/GBP Down In Asian Trade

Posted: 02 Oct 2011 09:00 PM PDT

Forexpros – The Euro was lower against the British Pound on Monday.

EUR/GBP was trading at 0.8582, down 0.09% at time of writing.

The pair was likely to find support at 0.8564, Monday's low, and resistance at 0.8740, Wednesday's high.

Meanwhile, the Euro was down against the U.S. Dollar and the Japanese Yen, with EUR/USD shedding 0.47% to hit 1.3325 and EUR/JPY falling 0.56% to hit … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – USD/JPY Down In Asian Trading Hours

Posted: 02 Oct 2011 08:35 PM PDT

Forexpros – The U.S. Dollar was lower against the Japanese Yen on Monday after the release of Japanese data on Tankan Large Manufacturers Index.

USD/JPY was trading at 77.00, down 0.07% at time of writing.

The pair was likely to find support at 76.34, Wednesday's low, and resistance at 77.27, Monday's high.

Earlier in the day, official data showed that Japan's Tankan manufacturing index rose to a seasonally adjusted 2 in the last quarter from -9 in the preceding quarter.

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

Forex – EUR/USD Down During The Asian Session

Posted: 02 Oct 2011 07:50 PM PDT

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

EUR/USD was trading at 1.3330, down 0.44% at time of writing.

The pair was likely to find support at 1.3329, today's low, and resistance at 1.3690, Wednesday's high.

Meanwhile, the Euro was down against the British Pound and the Japanese Yen, with EUR/GBP shedding 0.17% to hit 0.8575 and EUR/JPY falling 0.47% to hit … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Intrade Odds Fall To 21% For Christie To Run

Posted: 02 Oct 2011 07:25 PM PDT

In late trading, the odds of Chris Christie running for president have fallen from 29.5% to 21% (see chart above), putting the chances of a Christie candidacy now at almost … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex Trading: Usdhkd Still In A Downward Channel 4hr Chart

Posted: 02 Oct 2011 07:16 PM PDT

usd/hkd still continue to be in this downward channel moving towards the topside of this channel. We might see it test the downside again to retest the daily … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – GBP/JPY Down In Asian Trading Hours

Posted: 02 Oct 2011 07:10 PM PDT

Forexpros – The British Pound was lower against the Japanese Yen on Monday after the release of Japanese data on Tankan Large Manufacturers Index.

GBP/JPY was trading at 119.87, down 0.17% at time of writing.

The pair was likely to find support at 118.78, Thursday's low, and resistance at 120.84, Thursday's high.

Earlier in the day, official data showed that Japan's Tankan manufacturing index rose to a seasonally adjusted 2 in the last quarter from -9 in the preceding … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex Trading: Usdhkd Breaking Through Daily Trendline

Posted: 02 Oct 2011 06:50 PM PDT

The usd/hkd is testing this trend-line for the third time which it broke through but is now trading above that line … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex Trading: USDSGD In The Short-term

Posted: 02 Oct 2011 06:22 PM PDT

On a very short-term chart as we see the USD regain some of its earlier bid across the board and move to the top of the channel on the 15-min chart of USDSGD. The channel has held for a few sessions and without any significant news out of Europe over the weekend and China on holiday this week, this could provide some short-term trading … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – USD/JPY Up In Asian Trading Hours

Posted: 02 Oct 2011 06:20 PM PDT

Forexpros – The U.S. Dollar was higher against the Japanese Yen on Monday after the release of Japanese data on Tankan Large Manufacturers Index.

USD/JPY was trading at 77.08, up 0.04% at time of writing.

The pair was likely to find support at 76.34, Wednesday's low, and resistance at 77.27, Monday's high.

Earlier in the day, official data showed that Japan's Tankan manufacturing index rose to a seasonally adjusted 2 in the last quarter from -9 in the preceding quarter.

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

What If The NFL Played By Teachers’ Rules?

Posted: 02 Oct 2011 05:50 PM PDT

Real spending per U.S. public school pupil has nearly tripled since 1970.

“Imagine the National Football League in an alternate reality. Each player’s salary is based on how long he’s been in the league. It’s about tenure, not talent. The same scale is used for every player, no matter whether he’s an All-Pro quarterback or the last man on the roster. For every year a player’s been in this NFL, he gets a bump in pay.  And if a player makes it through his third season, he can never be cut … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex Trading: USDSGD Resisted At 50%

Posted: 02 Oct 2011 05:47 PM PDT

USDSGD is currently trading at the top of its daily range. Reviewing our analysis from last week we see the 50% retracement level of the summers move continues to defend the pairs appreciation. For some short-term USD bulls the 21 day moving average has broken above the 100 day and 200 day moving averages and continued weakness in the Asian arena coupled with a global flight to quality could provide the pair a further … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Still Growing

Posted: 02 Oct 2011 05:45 PM PDT

In “‘Scrap Yards Are the New Pawn Shops,’” ”Barely Afloat,” and “Thieves Expand Their Horizons,” I noted the long and growing list of atypical items that thieves — many of whom are likely acting out of desperation – have targeted, including transformers, storm drain covers, railroad tracks, air conditioners, meat, cemetary mementos, church collection plates and crosses, newpapers, utility poles, hot air balloons, and embalming fluid. Time’s Moneyland blog points us … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – EUR/JPY Down In Asian Trade

Posted: 02 Oct 2011 05:45 PM PDT

Forexpros – The Euro was lower against the Japanese Yen on Monday after the release of Japanese data on Tankan Large Manufacturers Index.

EUR/JPY was trading at 103.02, down 0.13% at time of writing.

The pair was likely to find support at 102.87, Monday's low, and resistance at 104.93, Thursday's high.

Earlier in the day, official data showed that Japan's Tankan manufacturing index rose to a seasonally adjusted 2 in the last quarter from -9 in the preceding quarter.

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

Greece Squeezing Some Money Out Of Real Estate

Posted: 02 Oct 2011 04:05 PM PDT

By ForexMansion.com
The continuing rally on the risk asset markets yesterday was buoyed by the positive news coming out of the Euro zone. At a meeting with Greek Prime Minister George Papandreou, German Chancellor Angela Merkel yet again announced that Germany will provide all necessary aid to Greece and not allow the country to leave the Euro zone. Greece's parliament voted 115 to 142 to pass the prime minister's initiative to introduce an additional tax on property, which says that the … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – Dollar Broadly Higher Amid Euro Debt Concerns

Posted: 02 Oct 2011 04:02 PM PDT

By ForexMansion.com
Forexpros – The U.S. dollar was broadly higher against its major counterparts on Monday, as concerns over a debt default by Greece mounted, after the Greek government said it will miss its deficit reduction target this year.
During European morning trade, the greenback was up against the euro, with EUR/USD shedding 0.22% to hit 1.3356.
Later in the day, euro zone finance ministers were to meet to discuss options for increasing the capacity of the region's bailout fund, … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Crude Oil Futures Trade Below USD78 As Global Outlook Weighs

Posted: 02 Oct 2011 03:32 PM PDT

By ForexMansion.com
Forexpros – Crude oil futures were down sharply for a second day on Monday, dropping to a one-week low as lingering concerns over the sovereign debt crisis in the euro zone 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 USD77.80 a barrel during European morning trade, tumbling 1.77%.
It earlier fell as much as 2.15% to trade at USD77.37 a barrel, the lowest price … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

GBP/USD Pulls Away From 1-week Low After PMI

Posted: 02 Oct 2011 03:32 PM PDT

By ForexMansion.com
Forexpros – The pound trimmed losses against the U.S. dollar on Monday, pulling away from a one-week low after a report showing that manufacturing activity in the U.K. rebounded from a 26-month low in September.
GBP/USD pulled back from 1.5484, the pair's lowest since September 26, to hit 1.5518 during early European trade, still down 0.40%.
Cable was likely to find support at 1.5431, the low of September 26 and resistance at 1.5664, last Friday's high.
The Markit/CIPS … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

USD/JPY Down Amid Fresh Euro Zone Concerns

Posted: 02 Oct 2011 03:02 PM PDT

By ForexMansion.com
Forexpros – The U.S. dollar was down against the yen on Monday, retreating from a two-week high as renewed concerns over the handling of the euro zone debt crisis boosted safe have demand for the yen.
USD/JPY pulled back from 77.27 during early European trade, the pair's highest since September 15 to hit 76.81, shedding 0.30%.
The pair was likely to find support at 76.33, the low of September 28 and resistance at 77.58, the high of September 12.
The U.S. dollar weakened … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Gold Futures Surge 2% On Mounting Greek Default Fears

Posted: 02 Oct 2011 03:02 PM PDT

By ForexMansion.com
Forexpros – Gold futures were up for a third day on Monday, climbing to a three-day high as mounting fears over a possible Greek debt default and a sharp drop in global equities boosted the appeal of the precious metal.
On the Comex division of the New York Mercantile Exchange, gold futures for December delivery traded at USD1,657.85 a troy ounce during late Asian trade, surging 2.19%.
It earlier rose by as much as 2.3% to trade at USD1,659.45 a troy ounce, the highest … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

U.K. Manufacturing PMI Rebounds In September

Posted: 02 Oct 2011 03:02 PM PDT

By ForexMansion.com
Forexpros – Manufacturing activity in the U.K. rose unexpectedly in September, rebounding from a 26-month low, official data showed on Monday.
In a report, market research group Markit said that its U.K. manufacturing PMI rose to a seasonally adjusted 51.1 in September, up from a reading of 49.4 in August, whose figure was revised up from 49.0.
Analysts had expected the manufacturing PMI to decline to 48.5 in September.
On the index, a reading above 50.0 indicates industry … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

NZD/USD Sharply Lower On Renewed Greece Concerns

Posted: 02 Oct 2011 02:32 PM PDT

By ForexMansion.com
Forexpros – The New Zealand dollar was sharply lower against its U.S. counterpart on Monday, falling to a six-month low as renewed concerns over a potential Greek default dampened risk sentiment.
NZD/USD hit 0.7572 during late Asian trade, the pair's lowest since March 30; the pair subsequently consolidated at 0.7612, inching down 0.02%.
The pair was likely to find support at 0.7421, the low of March 24 and resistance at 0.7709, the high of September 30.
Market sentiment … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

AUD/USD Touches Ten-month Low On E.Z. Woes

Posted: 02 Oct 2011 02:32 PM PDT

By ForexMansion.com
Forexpros – The Australian dollar was down against its U.S. counterpart on Monday, touching a ten-month low as ongoing concerns over the euro zone debt crisis continued to weigh on market sentiment.
AUD/USD hit 0.9594 during late Asian trade, the pair's lowest since December 1; the pair subsequently consolidated at 0.9653, edging down 0.06%.
The pair was likely to find support at 0.9535, the low of December 1 and resistance at 0.9808, the high of September 30.
The Aussie … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

EUR/USD Hits 8-month Low As Debt Woes Weigh

Posted: 02 Oct 2011 02:02 PM PDT

By ForexMansion.com
Forexpros – The euro fell to an eight-month low against the U.S. dollar on Monday, as concerns over the impact of the region's debt crisis on global growth weighed on market sentiment.
EUR/USD hit 1.3314 during late Asian trade, the pair's lowest since January 18; the pair subsequently consolidated at 1.3330, shedding 0.39%.
The pair was likely to find support at 1.3088, the low of January 13 and short-term resistance at 1.3376, the day's high.
Later Monday, finance … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Swiss SVME PMI Falls More-than-expected In September

Posted: 02 Oct 2011 02:02 PM PDT

By ForexMansion.com
Forexpros – Manufacturing activity in Switzerland fell more-than-expected in September, dropping into contraction territory, industry data showed on Monday.
In a report, the Swiss SVME purchasing managers' association and Credit Suisse said that its purchasing managers' index declined to a seasonally adjusted 48.2 in September from 51.7 in August.
Analysts had expected the index to decline to 50.5 in September.
On the index, a reading above 50.0 indicates expansion, … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Asia Stocks Tumble On Global Outlook; Nikkei Drops 1.8%

Posted: 02 Oct 2011 02:02 PM PDT

By ForexMansion.com
Forexpros – Asian stock markets tumbled on Monday, with financials and exporters leading losses as market sentiment was weighed amid ongoing fears over a potential Greek default, while shares in Hong Kong plunged to a 28-month low amid fresh fears over China's economic outlook.
During late Asian trade, Hong Kong's Hang Seng Index plunged 4%, Australia's ASX/200 Index dropped 2.7%, while Japan's Nikkei 225 Index fell 1.8%.
Fears over a potential Greek default … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Swiss Retail Sales Drop Unexpectedly In August

Posted: 02 Oct 2011 01:33 PM PDT

By ForexMansion.com
Forexpros – Retail sales in Switzerland fell unexpectedly in August, official data showed on Monday.
In a report, Switzerland's Federal Statistical Office said that retail sales declined at an annualized rate of 1.9% in August, confounding expectations for a 4.5% increase.
July's figure was revised up to a 2.9% increase from a previously reported 1.9% gain.
Month-over-month, Swiss retail sales tumbled by 3.9% in August, after falling by a revised 2.7% in … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

GOLD: Broader Bias Remains Lower Despite Hammer Candle Formation

Posted: 02 Oct 2011 12:41 PM PDT

By ForexMansion.com
GOLD: The commodity weakened further to close lower the past week, opening up further downside risk. Though a hammer candle is now in place and triggered a mild recovery the past week, a full fledged corrective recovery is required to prevent an early return to the 1,1532.90 level, its Sept 26'2011 low. Below here will pave the way for a run at the 1.500.00 level, its psycho level ahead of its July 01'2011 low at 1,478.05. Its weekly RSI is bearish and pointing lower … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

S&P500 Medium-Term Update

Posted: 02 Oct 2011 12:39 PM PDT

By ForexMansion.com
S&P500: 1131.81
Medium-Term Trend: downtrend
Outlook: A month ago I said the weekly trend had already turned lower and I expected the prices to remain under pressure. Well, the S&P500 index held well for most of September but then fell sharply in the last few sessions. The weekly chart remains very bearish and as long as the prices stay below 1250/60, the main focus should remain on the downside. I even expect that the 1200 level will remain intact and very soon and … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

EUR/USD Medium-Term Update

Posted: 02 Oct 2011 12:36 PM PDT

By ForexMansion.com
EURUSD: 1.3384
Medium-Term Trend: sideways
Outlook: A month I favored the long side as I thought the Contracting Triangle from the 2008 top had already ended and the single European currency was in its next bull market. However for the past month or so the Medium-Term picture has changed completely and now it is clear that the Triangle from the 2008 top is still unfolding. We have two almost equally likely scenarios now: 1.) if this Triangle is a contracting one, the decline … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

EUR/USD Down During The Asian Session

Posted: 02 Oct 2011 12:02 PM PDT

By ForexMansion.com
Forexpros – The Euro was lower against the U.S. Dollar on Monday.
EUR/USD was trading at 1.3331, down 0.43% at time of writing.
The pair was likely to find support at 1.3314, today's low, and resistance at 1.3690, Wednesday's high.
Meanwhile, the Euro was up against the British Pound and down against the Japanese Yen, with EUR/GBP gaining 0.05% to hit 0.8594 and EUR/JPY falling 0.40% to hit 102.74.
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GBP/USD Down In Asian Trade

Posted: 02 Oct 2011 11:32 AM PDT

By ForexMansion.com
Forexpros – The British Pound was lower against the U.S. Dollar on Monday.
GBP/USD was trading at 1.5503, down 0.52% at time of writing.
The pair was likely to find support at 1.5492, today's low, and resistance at 1.5716, Thursday's high.
Meanwhile, the British Pound was down against the Euro and the Japanese Yen, with EUR/GBP gaining 0.001% to hit 0.8590 and GBP/JPY falling 0.52% to hit 119.45.
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EUR/CHF Down In Asian Trading Hours

Posted: 02 Oct 2011 11:02 AM PDT

By ForexMansion.com
Forexpros – The Euro was lower against the Swiss Franc on Monday.
EUR/CHF was trading at 1.2149, down 0.07% at time of writing.
The pair was likely to find support at 1.2126, Friday's low, and resistance at 1.2226, Wednesday's high.
Meanwhile, the Euro was down against the U.S. Dollar and the Japanese Yen, with EUR/USD shedding 0.43% to hit 1.3331 and EUR/JPY falling 0.49% to hit 102.64.
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The Finance Mansion Network operates a global … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

USD/CHF Up During The Asian Session

Posted: 02 Oct 2011 10:35 AM PDT

By ForexMansion.com
Forexpros – The U.S. Dollar was higher against the Swiss Franc on Monday.
USD/CHF was trading at 0.9118, up 0.44% at time of writing.
The pair was likely to find support at 0.8919, Thursday's low, and resistance at 0.9118, today's high.
Meanwhile, the U.S. Dollar was up against the Euro and down against the Japanese Yen, with EUR/USD shedding 0.51% to hit 1.3320 and USD/JPY falling 0.08% to hit 76.99.
Forexpros

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EUR/GBP Down In Asian Trade

Posted: 02 Oct 2011 10:02 AM PDT

By ForexMansion.com
Forexpros – The Euro was lower against the British Pound on Monday.
EUR/GBP was trading at 0.8582, down 0.09% at time of writing.
The pair was likely to find support at 0.8564, Monday's low, and resistance at 0.8740, Wednesday's high.
Meanwhile, the Euro was down against the U.S. Dollar and the Japanese Yen, with EUR/USD shedding 0.47% to hit 1.3325 and EUR/JPY falling 0.56% to hit 102.57.
Forexpros

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

USD/JPY Down In Asian Trading Hours

Posted: 02 Oct 2011 10:02 AM PDT

By ForexMansion.com
Forexpros – The U.S. Dollar was lower against the Japanese Yen on Monday after the release of Japanese data on Tankan Large Manufacturers Index.
USD/JPY was trading at 77.00, down 0.07% at time of writing.
The pair was likely to find support at 76.34, Wednesday's low, and resistance at 77.27, Monday's high.
Earlier in the day, official data showed that Japan's Tankan manufacturing index rose to a seasonally adjusted 2 in the last quarter from -9 in the preceding … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

EUR/USD Down During The Asian Session

Posted: 02 Oct 2011 09:02 AM PDT

By ForexMansion.com
Forexpros – The Euro was lower against the U.S. Dollar on Monday.
EUR/USD was trading at 1.3330, down 0.44% at time of writing.
The pair was likely to find support at 1.3329, today's low, and resistance at 1.3690, Wednesday's high.
Meanwhile, the Euro was down against the British Pound and the Japanese Yen, with EUR/GBP shedding 0.17% to hit 0.8575 and EUR/JPY falling 0.47% to hit 102.67.
Forexpros

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

GBP/JPY Down In Asian Trading Hours

Posted: 02 Oct 2011 08:32 AM PDT

By ForexMansion.com
Forexpros – The British Pound was lower against the Japanese Yen on Monday after the release of Japanese data on Tankan Large Manufacturers Index.
GBP/JPY was trading at 119.87, down 0.17% at time of writing.
The pair was likely to find support at 118.78, Thursday's low, and resistance at 120.84, Thursday's high.
Earlier in the day, official data showed that Japan's Tankan manufacturing index rose to a seasonally adjusted 2 in the last quarter from -9 in the … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

USD/JPY Up In Asian Trading Hours

Posted: 02 Oct 2011 07:32 AM PDT

By ForexMansion.com
Forexpros – The U.S. Dollar was higher against the Japanese Yen on Monday after the release of Japanese data on Tankan Large Manufacturers Index.
USD/JPY was trading at 77.08, up 0.04% at time of writing.
The pair was likely to find support at 76.34, Wednesday's low, and resistance at 77.27, Monday's high.
Earlier in the day, official data showed that Japan's Tankan manufacturing index rose to a seasonally adjusted 2 in the last quarter from -9 in the preceding … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

EUR/JPY Down In Asian Trade

Posted: 02 Oct 2011 07:01 AM PDT

By ForexMansion.com
Forexpros – The Euro was lower against the Japanese Yen on Monday after the release of Japanese data on Tankan Large Manufacturers Index.
EUR/JPY was trading at 103.02, down 0.13% at time of writing.
The pair was likely to find support at 102.87, Monday's low, and resistance at 104.93, Thursday's high.
Earlier in the day, official data showed that Japan's Tankan manufacturing index rose to a seasonally adjusted 2 in the last quarter from -9 in the preceding … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

USD/JPY Up On Economic Data

Posted: 02 Oct 2011 06:31 AM PDT

By ForexMansion.com
Forexpros – The U.S. Dollar was higher against the Japanese Yen on Monday after the release of Japanese data on Tankan Large Manufacturers Index.
USD/JPY was trading at 77.18, up 0.17% at time of writing.
The pair was likely to find support at 76.34, Wednesday's low, and resistance at 77.27, Monday's high.
Earlier in the day, official data showed that Japan's Tankan manufacturing index rose to a seasonally adjusted 2 in the last quarter from -9 in the preceding … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

30-year T-Bond Yield At 0.8%???

Posted: 01 Oct 2011 06:25 PM PDT

I was reviewing some charts this weekend and came upon the point and figure chart of the 30-year T-Bond yield:

OMG! A 0.8% objective on the T-Bond yield???  That would truly be a bond bubble.

Cam Hui is a portfolio manager at Qwest Investment Fund Management Ltd. (“Qwest”). This article is prepared by Mr. Hui as an outside business activity. As such, Qwest does not review or approve materials presented herein. The opinions and any recommendations expressed in this blog are those of … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards
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