Monday, November 28, 2011

DailyMarkets.com - Crude Oil, Gold Push Higher As US Dollar Sinks Amid Sentiment Recovery

DailyMarkets.com - Crude Oil, Gold Push Higher As US Dollar Sinks Amid Sentiment Recovery

Crude Oil, Gold Push Higher As US Dollar Sinks Amid Sentiment Recovery

Posted: 28 Nov 2011 02:55 AM PST

Talking Points

Crude Oil to Follow S&P 500 Higher on EU FinMin Summit Hopes
Gold Set to Rise as US Dollar Sinks on Fading Safe-Haven Demand

WTI Crude Oil (NY Close): $96.77 // +0.60 // +0.62%
Crude prices are on the upswing in European trade and more of the same is being hinted ahead as S&P 500 stock index futures push aggressively higher before the opening bell on Wall Street, pointing to a broad recovery in risk appetite. While the newswires are attributing the chipper mood to a … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – EUR/GBP Edges Up Ahead Of Belgian Bond Auction

Posted: 28 Nov 2011 02:41 AM PST

Forexpros – The euro edged higher against the pound on Monday, but the single currency remained vulnerable ahead of a Belgian government bond auction later in the day.

EUR/GBP hit 0.8609 during European morning trade, the daily high; the pair subsequently consolidated at 0.8593, gaining 0.22%.

The pair was likely to find support at 0.8568, the days low and short-term resistance at 0.8617, Friday's high.

Belgium was looking to raise as much as EUR2 billion after ratings agency Standard … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – USD/CHF Falls Over 1% As Market Sentiment Improves

Posted: 28 Nov 2011 02:29 AM PST

Forexpros – The U.S. dollar tumbled more than 1% against the Swiss franc on Monday, as hopes for progress in resolving the debt crisis in the euro zone weighed on demand for the safe haven greenback.

USD/CHF hit 0.9212 during European morning trade, the daily low; the pair subsequently consolidated at 0.9184, shedding plummeting 1.25%.

The pair was likely to find support at 0.9084, the low of November 18 and resistance at 0.9329, the high of November 25.

Risk appetite improved amid hopes … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Copper Futures Soar 3% On Fresh Euro Zone Crisis Hopes

Posted: 28 Nov 2011 02:09 AM PST

Forexpros – Copper futures rose sharply on Monday, as a broadly weaker U.S. dollar and fresh hopes that European policymakers will reach an agreement to contain the region's debt crisis boosted demand for riskier assets.

On the Comex division of the New York Mercantile Exchange, copper futures for March delivery traded at USD3.386 a pound during European morning trade, rallying 3.1%.

It earlier rose by as much as 3.35% to trade at USD3.397 a pound, the highest price since November … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – Dollar Broadly Lower Vs. Rivals On Euro Zone Hopes

Posted: 28 Nov 2011 01:44 AM PST

Forexpros – The U.S. dollar was broadly lower against its major counterparts on Monday, as signs of progress in handling the debt crisis in the euro zone supported demand for riskier assets.

During European morning trade, the dollar was down against the euro, with EUR/USD rising 0.89% to hit 1.3358.

The euro rallied amid hopes that European Union leaders would be able to reach an agreement on a fiscal pact to halt the spread of the region's debt crisis ahead of an EU summit early next … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex Trading: Eurozone M3 Money Supply

Posted: 28 Nov 2011 01:33 AM PST

M3 Money Supply y/y came in at 2.6%, weaker than the 3.4% expected.
Private loans y/y came in at 2.7%, stronger than the 2.6% expected
Eur/Usd is trading just off session highs at … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Crude Oil Rallies Above USD99 A Barrel In Risk-on Trade

Posted: 28 Nov 2011 01:25 AM PST

Forexpros – Crude oil futures rallied to a six-day high on Monday, trading above USD99-a-barrel as renewed efforts by European leaders to tackle the region's ongoing debt crisis boosted appetite for riskier assets.

On the New York Mercantile Exchange, light, sweet crude futures for delivery in January traded at USD99.72 a barrel during European morning trade, soaring 3.05%.

It earlier rose by as much as 3.25% to trade at USD99.91 a barrel, the highest since November 18.

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

Forex – GBP/USD Rises On Euro Zone Crisis Action Hopes

Posted: 28 Nov 2011 01:14 AM PST

Forexpros – The pound pushed higher against the U.S. dollar on Monday, as hopes that European leaders can reach an agreement to resolve the debt crisis in the region boosted the outlook for riskier assets.

GBP/USD hit 1.5526 during European morning trade, the daily high; the pair subsequently consolidated at 1.5524, gaining 0.55%.

Cable was likely to find support at 1.5423, Friday's low and a seven-week low and resistance at 1.5655, last Wednesday's high.

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

European Stocks Surge On Fiscal Pact Hopes; DAX Jumps 3.02%

Posted: 28 Nov 2011 01:05 AM PST

Forexpros – European stock markets were sharply higher on Monday, as investor confidence strengthened amid talks of a European fiscal agreement designed to tackle the region's debt crisis.

During European morning trade, the EURO STOXX 50 soared 2.97%, France's CAC 40 climbed 2.93%, while Germany's DAX 30 jumped 3.02%.

Market sentiment improved as euro-zone leaders were negotiating a fiscal pact aimed at preventing the single currency bloc from fracturing.

Viewed as a first step … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Gold Futures Climb Above USD1,700 On Fresh EU Hopes

Posted: 28 Nov 2011 12:47 AM PST

Forexpros – Gold futures rose sharply on Monday, climbing above the psychologically important USD1,700-an-ounce-level as the U.S. dollar weakened amid signs of progress in handling the euro zone's debt crisis.

On the Comex division of the New York Mercantile Exchange, gold futures for February delivery traded at USD1,717.25 a troy ounce during early European trade, surging 1.7%.

It earlier rose by as much as 1.85% to trade at USD1,719.15 a troy ounce, the highest since November … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – USD/JPY Steady As Markets Eye E.Z. Talks

Posted: 28 Nov 2011 12:31 AM PST

Forexpros – The U.S. dollar was almost unchanged against the yen on Monday, as concerns over the debt crisis in the euro zone continued to dominate market sentiment.

USD/JPY hit 77.46 during late Asian trade, the daily low; the pair subsequently consolidated at 77.66, inching down 0.08%.

The pair was likely to find support at 77.10, the low of November 25 and resistance at 78.09, the high of November 8.

Earlier in the day, the governor of the Bank of Japan warned that the outlook for the … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – AUD/USD Rallies Amid E.Z. Optimism

Posted: 28 Nov 2011 12:18 AM PST

Forexpros – The Australian dollar rallied to a four-day high against its U.S. counterpart on Monday, as market sentiment was lifted by new hopes of progress in tackling the euro zone's debt crisis.

AUD/USD hit 0.9888 during late Asian trade, the pair's highest since November 22; the pair subsequently consolidated at 0.9852, jumping 1.45%.

The pair was likely to find support at 0.9682, the low of November 24 and resistance at 1.0012, the high of November 21.

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

Forex – NZD/USD Hits 1-week High On New E.Z. Hopes

Posted: 28 Nov 2011 12:01 AM PST

Forexpros – The New Zealand dollar was sharply higher against its U.S. counterpart on Monday, as signs of progress in handling the debt crisis in the euro zone boosted demand for riskier assets.

NZD/USD hit 0.7554 during late Asian trade, the pair's highest since November 21; the pair subsequently consolidated at 0.7523, climbing 1.55%.

The pair was likely to find support at 0.7438, the low of November 22 and resistance at 0.7648, the high of November 18.

The kiwi rallied to a one-week … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Asia Stocks Jump On EU Hopes, U.S. Holiday Sales; Nikkei Up 1.6%

Posted: 27 Nov 2011 11:45 PM PST

Forexpros – Asian stock markets rallied on Monday, as sentiment was lifted by hopes that European policymakers will reach an agreement to contain the region's debt crisis and after a robust start to the U.S. holiday shopping season.

During late Asian trade, Hong Kong’s Hang Seng Index surged 2.05%, Australia's ASX/200 Index jumped 1.85%, while Japan's Nikkei 225 Index gained 1.6%.

German media outlets reported over the weekend that German Chancellor Angela Merkel and French President … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – EUR/USD Higher On Fresh Crisis Agreement Hopes

Posted: 27 Nov 2011 11:33 PM PST

Forexpros – The euro was higher against the U.S. dollar on Monday, boosted by hopes that European Union leaders will be able to reach an agreement on a fiscal pact to halt the spread of the region's debt crisis.

EUR/USD hit 1.3335 during late Asian trade, the daily high; the pair subsequently consolidated at 1.3276, gaining 0.29%.

The pair was likely to find support at 1.3211, Friday's low and a seven-week low and resistance at 1.3410, the high of November 24.

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

Bear Of The Day: Montpelier Re Holdings (MRH)

Posted: 27 Nov 2011 11:00 PM PST

We are downgrading Montpelier Re Holdings (NYSE:MRH) to Underperform from Neutral on the back of loss reported in the third quarter results. Montpelier Re Holdings’ operating loss came in much wider than the Zacks Consensus Estimate, led by catastrophe losses, resulting from Hurricane Irene and the Texas wildfires, U.S. regional aggregate covers and July’s Danish floods.
The loss ratio in the third quarter was 89% compared with 33.3% in the year-ago quarter. Results include $60 million of … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Aggressive Growth Stock: MoneyGram International, Inc.

Posted: 27 Nov 2011 11:00 PM PST

Quarterly results and earnings estimates look great for MoneyGram International, Inc. (NYSE:MGI). But why are shares are tanking and do they deserve the thrashing?
Company Description
MoneyGram is a payment services company that provides money transfers, money orders, and other solutions for retail customers as well as institutions. The company has a over 250,000 locations worldwide.
Solid Results
On Oct 27 MoneyGram met earnings expectations, by reporting $0.24 per share, snapping a 2-quarter … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Momentum Stock: Fair Isaac Corp.

Posted: 27 Nov 2011 11:00 PM PST

Fair Isaac Corp. (FICO) is up more than 70% in the last two months, recently jumping into a new multi-year high on another strong quarter. With estimates on the rise and a bullish growth projection, this Zacks #1 Rank stock scores high on the momentum scale.
Company Description
Fair Isaac Corp, together with its subsidiaries, provides analytic, software and data management services related to credit and risk metrics worldwide. The company was founded in 1956 and has a market cap of $1.25 … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Bull Of The Day: Salix Pharmaceuticals (SLXP)

Posted: 27 Nov 2011 11:00 PM PST

Salix Pharmaceuticals (NASDAQ:SLXP) third quarter results exceeded expectations with higher revenues boosting performance. With the company raising its revenue guidance, we have raised our estimates as well. Salix is well-positioned for growth in the gastrointestinal market.
We believe lead product Xifaxan will continue to experience solid, above-market trend growth given its safety profile and lack of systemic absorption. We were pleased to see Xifaxan gain approval for the hepatic encephalopathy … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – EUR/USD Up During The Asian Session

Posted: 27 Nov 2011 10:40 PM PST

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

EUR/USD was trading at 1.3298, up 0.45% at time of writing.

The pair was likely to find support at 1.3213, Friday's low, and resistance at 1.3531, Wednesday's high.

Meanwhile, the Euro was up against the British Pound and the Japanese Yen, with EUR/GBP gaining 0.04% to hit 0.8577 and EUR/JPY rising 0.33% to hit … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – GBP/USD Up In Asian Trade

Posted: 27 Nov 2011 10:15 PM PST

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

GBP/USD was trading at 1.5507, up 0.43% at time of writing.

The pair was likely to find support at 1.5424, Friday's low, and resistance at 1.5656, Wednesday's high.

Meanwhile, the British Pound was down against the Euro and up against the Japanese Yen, with EUR/GBP gaining 0.07% to hit 0.8580 and GBP/JPY rising 0.32% to hit … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – EUR/CHF Up In Asian Trading Hours

Posted: 27 Nov 2011 09:50 PM PST

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

EUR/CHF was trading at 1.2337, up 0.19% at time of writing.

The pair was likely to find support at 1.2251, Friday's low, and resistance at 1.2380, Friday's high.

Meanwhile, the Euro was up against the U.S. Dollar and the Japanese Yen, with EUR/USD gaining 0.42% to hit 1.3294 and EUR/JPY rising 0.29% to hit … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – USD/CHF Down During The Asian Session

Posted: 27 Nov 2011 09:20 PM PST

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

USD/CHF was trading at 0.9286, down 0.16% at time of writing.

The pair was likely to find support at 0.9128, Wednesday's low, and resistance at 0.9330, Friday's high.

Meanwhile, the U.S. Dollar was down against the Euro and the Japanese Yen, with EUR/USD gaining 0.38% to hit 1.3288 and USD/JPY falling 0.12% to hit … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Staying Safe On Cyber Monday

Posted: 27 Nov 2011 09:00 PM PST

11/28/11 Cyber Monday brings plenty of online deals, along with hackers and cyber criminals in tow. The post-Thanksgiving online shopping day requires caution and common … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – EUR/GBP Down In Asian Trade

Posted: 27 Nov 2011 09:00 PM PST

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

EUR/GBP was trading at 0.8573, down 0.01% at time of writing.

The pair was likely to find support at 0.8546, Friday's low, and resistance at 0.8648, Wednesday's high.

Meanwhile, the Euro was up against the U.S. Dollar and the Japanese Yen, with EUR/USD gaining 0.37% to hit 1.3287 and EUR/JPY rising 0.25% 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: 27 Nov 2011 08:35 PM PST

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

USD/JPY was trading at 77.64, down 0.11% at time of writing.

The pair was likely to find support at 76.93, Wednesday's low, and resistance at 77.79, Friday's high.

Meanwhile, the U.S. Dollar was down against the Euro and the British Pound, with EUR/USD gaining 0.37% to hit 1.3287 and GBP/USD rising 0.42% to hit … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – USD/CAD Down During The Asian Session

Posted: 27 Nov 2011 08:10 PM PST

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

USD/CAD was trading at 1.0420, down 0.48% at time of writing.

The pair was likely to find support at 1.0379, Wednesday's low, and resistance at 1.0523, Friday's high.

Meanwhile, the U.S. Dollar was down against the Euro and the British Pound, with EUR/USD gaining 0.38% to hit 1.3288 and GBP/USD rising 0.39% to hit … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – AUD/USD Up In Asian Trade

Posted: 27 Nov 2011 07:30 PM PST

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

AUD/USD was trading at 0.9827, up 1.18% at time of writing.

The pair was likely to find support at 0.9664, Wednesday's low, and resistance at 0.9888, today's high.

Meanwhile, the Australian Dollar was up against the Euro and the Japanese Yen, with EUR/AUD shedding 0.76% to hit 1.3530 and AUD/JPY rising 1.07% to hit … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – GBP/CHF Up In Asian Trading Hours

Posted: 27 Nov 2011 07:05 PM PST

Forexpros – The British Pound was higher against the Swiss Franc on Monday.

GBP/CHF was trading at 1.4385, up 0.16% at time of writing.

The pair was likely to find support at 1.4226, Wednesday's low, and resistance at 1.4456, Friday's high.

Meanwhile, the British Pound was up against the U.S. Dollar and down against the Euro, with GBP/USD gaining 0.51% to hit 1.5519 and EUR/GBP rising 0.16% to hit … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex Trading: Usd/cnh Testing The 38.2% Retracement Level On The Daily Chart.

Posted: 27 Nov 2011 06:37 PM PST

usd/cnh testing the 38.2% retracement level on the daily … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – EUR/USD Up During The Asian Session

Posted: 27 Nov 2011 06:35 PM PST

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

EUR/USD was trading at 1.3322, up 0.63% at time of writing.

The pair was likely to find support at 1.3213, Friday's low, and resistance at 1.3531, Wednesday's high.

Meanwhile, the Euro was up against the British Pound and the Japanese Yen, with EUR/GBP gaining 0.16% to hit 0.8588 and EUR/JPY rising 0.49% 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: 27 Nov 2011 06:00 PM PST

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

USD/JPY was trading at 77.62, down 0.13% at time of writing.

The pair was likely to find support at 76.93, Wednesday's low, and resistance at 77.79, Friday's high.

Meanwhile, the U.S. Dollar was down against the Euro and the British Pound, with EUR/USD gaining 0.64% to hit 1.3323 and GBP/USD rising 0.45% to hit … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – EUR/JPY Up In Asian Trade

Posted: 27 Nov 2011 05:25 PM PST

Forexpros – The Euro was higher against the Japanese Yen on Monday.

EUR/JPY was trading at 103.29, up 0.37% at time of writing.

The pair was likely to find support at 102.50, Friday's low, and resistance at 104.13, Wednesday's high.

Meanwhile, the Euro was up against the U.S. Dollar and the British Pound, with EUR/USD gaining 0.54% to hit 1.3309 and EUR/GBP rising 0.08% to hit … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

IMF’s Italian Rescue Plan Leaves Many Unanswered Questions

Posted: 27 Nov 2011 09:28 AM PST

Bloomberg reported this morning that, according to a report from La Stampa, the IMF is readying a loan facility of between €400-600 billion to Italy.

ZeroHedge then tried to shoot down the story on the basis that €600 billion is a lot of money, which would need the approval of funding countries, including the US. At this point, I would more charitably say that the report of an IMF rescue of Italy leaves many unanswered questions.

Show me the money!
First, where … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards
at

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