Thursday, October 13, 2011

DailyMarkets.com - Wheat Stuck In Bear Market

DailyMarkets.com - Wheat Stuck In Bear Market

Wheat Stuck In Bear Market

Posted: 13 Oct 2011 07:32 AM PDT

Thursday, October 13, 2011
Wheat prices have encountered bearish conditions that may be difficult for the market to overcome. Supplies are expected to be at their highest levels in almost a decade, and demand could continue to slip. There would likely have to be a sharp global economic turnaround combined with inclement growing conditions to spring the bulls into action. Thus far, the market has held technical support at the $6.00 mark, and the oscillators are giving mixed signals. Some traders … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex Trading: USDCHF Breaks Above Channel Trendline At 0.9008 Level

Posted: 13 Oct 2011 07:32 AM PDT

Forex Trading: EURUSD Makes New Lows. 1.3672-77 Are Next Downside Target

Posted: 13 Oct 2011 07:32 AM PDT

1.3672-77 is the next target for the … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex Trading: EURUSD Stalls Near Support Area.

Posted: 13 Oct 2011 07:32 AM PDT

Forex Trading: GBPUSD Back In The Upper Channel. Test Floor/ceiling Target

Posted: 13 Oct 2011 07:32 AM PDT

Natural Gas Drilling Boom In Pennsylvania Brings The Rust Belt Back To Life With Investment, Jobs

Posted: 13 Oct 2011 07:28 AM PDT

National Public Radio — “A natural gas drilling boom in Pennsylvania is helping the economies of Rust Belt cities long accustomed to bad news. Drilling requires steel — lots of it — and that has manufacturers expanding and hiring new workers.

While much attention has been paid to the environmental risks of drilling into the Marcellus Shale, the economic benefits have been less prominent in the national discussion. But in Youngstown, Ohio, locals have been watching an old industry come … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Charting Crude Oil Into Daily Resistance Oct 13

Posted: 13 Oct 2011 07:01 AM PDT

What's going on with Crude Oil at the moment?
Let's take a look at the Daily Resistance Level along with a "step-inside" perspective from the intraday chart.

Let's start with the prevailing Daily Chart trend – it's a downtrend as evidenced by the progressive series of lower price lows and lower price highs, which is confirmed by the EMA Orientation (the 20 EMA consistently resides under the 50 EMA).
A down-trend is in force until clear signals prove a reversals – none of those … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – NZD/USD Down During The European Session

Posted: 13 Oct 2011 06:50 AM PDT

Forexpros – The New Zealand Dollar was lower against the U.S. Dollar on Thursday after the release of U.S. data on Initial Jobless Claims.

NZD/USD was trading at 0.7906, down 0.67% at time of writing.

The pair was likely to find support at 0.7678, Monday's low, and resistance at 0.7996, Wednesday's high.

Earlier in the day, official data showed that U.S. Initial Jobless Claims fell unexpectedly to a seasonally adjusted 404K last week from 405K in the preceding week whose figure was … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex Trading: EURUSD Is Quietly Wandering In Early NY Trade

Posted: 13 Oct 2011 06:32 AM PDT

The EURUSD has support at the 1.3722 level (trendline – see chart below) and below that the 1.3707 level is the 50% of the move up from yesterday's low.  The next upside target for the pair comes in athte 1.3766 level. This is the floor from the Asian session.
Activity is quiet so far in the NY session. The economic news at 8:30 did little to move the market. The S&P are down 4. DJ futures are down -24 points. Nasdaq is unchanged.  Oil is down $1 and Gold futures are down … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – USD/JPY Down During The European Session

Posted: 13 Oct 2011 06:15 AM PDT

Forexpros – The U.S. Dollar was lower against the Japanese Yen on Thursday after the release of U.S. data on Initial Jobless Claims.

USD/JPY was trading at 76.87, down 0.50% at time of writing.

The pair was likely to find support at 76.32, Wednesday's low, and resistance at 77.49, Wednesday's high.

Earlier in the day, official data showed that U.S. Initial Jobless Claims fell unexpectedly to a seasonally adjusted 404K last week from 405K in the preceding week whose figure was revised … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Markets In Everything: Bidding For MBA Classes

Posted: 13 Oct 2011 05:52 AM PDT

The Chicago Tribune reports that MBA students at Kellogg (Northwestern), Booth (Chicago) and Wharton (Pennsylvania) now all use bidding systems for graduate business classes as a way to allocate scarce resources and even provide a lesson in economics for course registration:

“Armed with an identical number of points at the outset, students spend them bidding against each other for spots in classes. Popular professors and classes cost more — in some cases, we’re talking Rolls-Royce prices. … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Neutral On Shaw Communications

Posted: 13 Oct 2011 05:50 AM PDT

We reiterate our Neutral recommendation on Shaw Communications Inc. (NYSE:SJR) ahead of its fourth quarter of fiscal 2011 financial results. Recently, the company suffered a severe blow when management decided to abandon its wireless venture. We believe the decision of Shaw Communication to abandon its wireless venture will significantly reduce the company's competitive strength in a highly lucrative Canadian telecom market.
Shaw Communications offers tripe-play cable TV and satellite TV, … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – EUR/USD Down On Economic Data

Posted: 13 Oct 2011 05:45 AM PDT

Forexpros – The Euro was lower against the U.S. Dollar on Thursday after the release of U.S. data on Initial Jobless Claims.

EUR/USD was trading at 1.3737, down 0.41% at time of writing.

The pair was likely to find support at 1.3378, Monday's low, and resistance at 1.3834, Wednesday's high.

Earlier in the day, official data showed that U.S. Initial Jobless Claims fell unexpectedly to a seasonally adjusted 404K last week from 405K in the preceding week whose figure was revised up from … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

U.S. Initial Jobless Claims Rise Less-than-expected

Posted: 13 Oct 2011 05:40 AM PDT

Forexpros – The number of people who filed for unemployment assistance in the U.S. last week rose less-than-expected, official data showed on Thursday.

In a report, the U.S. Department of Labor said the number of individuals filing for initial jobless benefits last week rose to a seasonally adjusted 404K, from 401K in the preceding week .

Analysts had expected initial jobless claims to rise to 406K last … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Disappointing Quarter For Mechel

Posted: 13 Oct 2011 05:35 AM PDT

Russian mining company Mechel OAO (NYSE:MTL) recorded a net income of $191.9 million in the second quarter of 2011, down 37.9% from the previous quarter's consolidated net income of $309.1 million.
Revenues in the second quarter soared 18.3% sequentially to $3.5 billion based on the company's relentless efforts restoring production volumes in its mining segment while preserving high capacity utilization rates in steel and other segments.
Operating income in the reported quarter climbed by 6.2% … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

China Orders 13 ERJ Jets

Posted: 13 Oct 2011 05:30 AM PDT

Brazil’s commercial planemaker, Embraer S.A (NYSE:ERJ) recently received order for 13 Legacy 650 executive jets from Minsheng Financial Leasing Co, China. The first aircraft is scheduled to be delivered by the end of this year, with the remainder expected to be delivered within the next five years.
Embraer has not yet received any permission to produce its popular E-Jet family of regional planes in the rapidly growing market in China, as it involves the risk of giving tight competition to the … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Pratt & Rolls-Royce In New Relation

Posted: 13 Oct 2011 05:16 AM PDT

Pratt & Whitney, a group company of United Technologies Corp. (NYSE:UTX), and Rolls-Royce, a global provider of the power systems, have reorganized their participation in IAE International Aero Engines AG (IAE). The IAE is engaged in the production of the V2500 engine for the A320 family of aircraft.
As per the agreement made by the companies, Rolls-Royce will sell its equity and program shares in IAE to Pratt & Whitney for $1.5 billion. Pratt & Whitney plans to discuss a potential … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Oil To Mirror S&P 500 As Risk Appetite Falters, Gold Standstill Continues

Posted: 13 Oct 2011 05:11 AM PDT

Talking Points

Crude Oil to Follow S&P 500 Lower as ECB Pours Cold Water on Sentiment
Gold Fails to Find a Meaningful Breakout as Fed Minutes Prove Tepid on QE3

WTI Crude Oil (NY Close): $85.57 // -0.24 // -0.28%
Crude oil remains anchored to broad-based risk sentiment trends, with prices continuing to show a strong correlation with the S&P 500. Futures tracking the benchmark equity index are pointing lower in overnight trade, hinting at the return of risk aversion and threatening to … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

JEC Adds New Contracts To Its Kitty

Posted: 13 Oct 2011 05:05 AM PDT

One of the world's largest engineering and construction services firm, Jacobs Engineering Group Inc. (NYSE:JEC) recently announced winning of new strategic contracts from seven clients in the Alberta Oil Sands to support steam assisted gravity drainage (SAGD) and bitumen upgrading expansion projects. The company has also been awarded an extension contract for current marine environmental services from Horizon Nuclear Power Limited, targeted to support the company’s new build nuclear power … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – EUR/GBP Down During The European Session

Posted: 13 Oct 2011 05:00 AM PDT

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

EUR/GBP was trading at 0.8753, down 0.03% at time of writing.

The pair was likely to find support at 0.8600, Monday's low, and resistance at 0.8787, 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 1.3734 and EUR/JPY falling 0.97% to hit … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Safe Havens On Top After ECB Bulletin, Disappointing Italian Bond Auciton

Posted: 13 Oct 2011 04:23 AM PDT

Fundamental Headlines
• China Exports Slow on 'Severe Challenges' – Bloomberg
• Geithner to Press Europe to Move Faster on Crisis – Bloomberg
• IMF Says Europe Crisis Escalation Poses Severe Risk to Asia – Bloomberg
• Euro Slips, ECB Stokes Concerns about Debt Solution – Reuters
• Inside the Fed Fight Over Bond Buys – WSJ
European Session Summary
While the recent correction has been fierce – most major global equity markets have climbed over 10 percent in the past … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – GBP/CHF Up During The European Session

Posted: 13 Oct 2011 04:15 AM PDT

Forexpros – The British Pound was higher against the Swiss Franc on Thursday after the release of Swiss data on PPI.

GBP/CHF was trading at 1.4108, up 0.07% at time of writing.

The pair was likely to find support at 1.4057, today's low, and resistance at 1.4430, Monday's high.

Earlier in the day, official data showed that Producer price inflation in Switzerland fell to a seasonally adjusted -0.1% last month from -1.2% in the preceding month.

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

Forex – AUD/USD Down During The European Session

Posted: 13 Oct 2011 03:30 AM PDT

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

AUD/USD was trading at 1.0156, down 0.02% at time of writing.

The pair was likely to find support at 0.9752, Monday's low, and resistance at 1.0232, today's high.

Meanwhile, the Australian Dollar was up against the Euro and down against the Japanese Yen, with EUR/AUD shedding 0.44% to hit 1.3520 and AUD/JPY falling 0.53% to hit … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards
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