Wednesday, November 2, 2011

DailyMarkets.com - Forex – Dollar Broadly Lower Vs. Rivals As Fed Meeting In Focus

DailyMarkets.com - Forex – Dollar Broadly Lower Vs. Rivals As Fed Meeting In Focus


Forex – Dollar Broadly Lower Vs. Rivals As Fed Meeting In Focus

Posted: 02 Nov 2011 02:51 AM PDT

Forexpros – The U.S. dollar was broadly lower against its major counterparts on Wednesday, as Tuesday's rally in safe haven assets faded, but investors remained jittery amid concerns over a planned referendum by Greece.

During European morning trade, the dollar was down against the euro, with EUR/USD rising 0.50% to hit 1.3771.

Greece’s Prime Minister George Papandreou won the backing of his cabinet to hold a referendum on a EUR130 billion bailout package earlier and was due to meet with … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


U.K. Construction PMI Rises To 5-month High In October

Posted: 02 Nov 2011 02:38 AM PDT

Forexpros – Britain’s construction sector activity grew more-than-expected in October, rising to a five-month high, industry data showed on Wednesday.

In a report, market research firm Markit and the Chartered Institute of Purchasing & Supply said that their U.K. construction purchasing managers’ index rose by 3.8 points to a seasonally adjusted 53.9 in October from 50.1 in September.

Economists had expected the index to ease up by 0.1 points to 50.2 in October.

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


Crude Oil Rebounds As Markets Await Fed, U.S. Supply Data

Posted: 02 Nov 2011 02:35 AM PDT

Forexpros – Crude oil futures were up for the first time in three days on Wednesday, as speculation the Federal Reserve may offer hints of further easing measures to boost the U.S. economy overshadowed concerns over Greece's debt woes.

On the New York Mercantile Exchange, light, sweet crude futures for delivery in December traded at USD92.79 a barrel during European morning trade, climbing 0.65%.

It earlier rose by as much as 1.1% to trade at USD93.20 a barrel, the highest price since … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Forex – GBP/USD Higher As Safe Haven Rally Wanes

Posted: 02 Nov 2011 02:18 AM PDT

Forexpros – The pound was higher against the U.S. dollar on Wednesday, trimming some of the previous day's losses as risk aversion waned, supporting demand for sterling.

GBP/USD hit 1.6034 during European morning trade, the daily high; the pair subsequently consolidated at 1.6028, gaining 0.49%.

Cable was likely to find support at 1.5889, Tuesday's low and resistance at 1.6151, the high of October 28 and an almost seven-week high.

The pound fell sharply against the U.S. dollar on … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


European Stocks Rise Amid Greece Worries; DAX Up 1.15%

Posted: 02 Nov 2011 02:03 AM PDT

Forexpros – European stock markets were higher on Wednesday, bouncing off Tuesday’s lows although investors remained wary over the outcome of Greece’s referendum on its recent bailout deal.

During European morning trade, the EURO STOXX 50 rose 1.05%, France's CAC 40 jumped 1.41%, while Germany's DAX 30 advanced 1.15%.

Markets eyed a meeting between German Chancellor Angela Merkel, French President Nicolas Sarkozy and Greek Prime Minister George Papandreou, scheduled later Wednesday … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


German Unemployment Change Rises Unexpectedly

Posted: 02 Nov 2011 02:00 AM PDT

Forexpros – The number of unemployed people in Germany rose unexpectedly in October, official data showed on Wednesday.

In a report, Germany’s Federal Statistics Office said the number of unemployed people rose by a seasonally adjusted 10,000 in October, confounding expectations for a decline of 10,000.

The previous month's figure was revised to a drop of 22,000 from a previously reported decline of 26,000.

The report showed that Germany's unemployment rate rose to 7.0% in October, up … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Forex – Broadly Weaker Dollar Lower Against Yen

Posted: 02 Nov 2011 01:49 AM PDT

Forexpros – The broadly weaker U.S. dollar was lower against the yen on Wednesday, amid speculation over more easing measures ahead of the conclusion of the Federal Reserve's policy setting meeting later in the day.

USD/JPY hit 78.07 during late Asian trade, the daily low; the pair subsequently consolidated at 78.11, shedding 0.34%.

The pair was likely to find support at 77.85, the high of September 9 and resistance at 78.98, Tuesday's high.

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


Gold Futures Advance To 2-day High On Greek Debt Fears

Posted: 02 Nov 2011 01:32 AM PDT

Forexpros – Gold futures rose to a two-day high on Wednesday, as the safe haven appeal of the precious metal was boosted amid fears a Greek referendum on the recent bailout deal will roil the region's efforts to solve the debt crisis.

On the Comex division of the New York Mercantile Exchange, gold futures for December delivery traded at USD1,735.75 a troy ounce during European morning trade, jumping 1.4%.

It earlier rose by as much as 1.58% to trade at USD1,737.45 a troy ounce, the … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Forex Trading: Euro Breaks Through Resistance At 1.37615

Posted: 02 Nov 2011 01:30 AM PDT

Following rumors that China will add 700 billion EUR to the bailout fund. The EUR/USD tested the level twice since yesterday but just made a pass higher with the next target higher being the 50.0% line at … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Forex – NZD/USD Edges Higher Amid E.Z. Uncertainty

Posted: 02 Nov 2011 01:11 AM PDT

Forexpros – The New Zealand dollar edged higher against its U.S. counterpart on Wednesday, easing off an eight-day low although investors remained concerned over the outcome of a Greek referendum on its bailout program.

NZD/USD 0.7972 during late Asian trade, the daily high; the pair subsequently consolidated at 0.7974, inching up 0.29%.

The pair was likely to find support at 0.7859, the low of October 18 and resistance at 0.8077, the high of October 25.

Markets eyed a meeting between … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Forex – AUD/USD Up Amid Greek Referendum Concerns

Posted: 02 Nov 2011 01:02 AM PDT

Forexpros – The Australian dollar was up against its U.S. counterpart on Wednesday, easing off a seven-week low as investors eyed a key meeting in Cannes on Greece’s surprise referendum call.

AUD/USD hit 1.0414 during late Asian trade, daily low; the pair subsequently consolidated at 1.0395, rising 0.62%.

The pair was likely to find support at 1.0202, the low of October 19 and resistance at 1.0500, the high of October 24.

Ahead of the November 3-4 Group of 20 summit, German Chancellor … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Asia Stocks Decline As Greece Fears Weigh; Nikkei Down 2.2%

Posted: 02 Nov 2011 12:48 AM PDT

Forexpros – Asian stock markets were broadly lower on Wednesday, as investors shed riskier assets amid fears a Greek referendum on the recent bailout deal will roil the region's efforts to solve the debt crisis.

During late Asian trade, Hong Kong’s Hang Seng Index slumped 0.4%, Australia's ASX/200 Index dropped 1.15%, while Japan's Nikkei 225 Index tumbled 2.21%.

Greek Premier George Papandreou’s surprise call for a referendum on the country’s latest bailout package had been … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Forex – EUR/USD Off Three-week Low But Upside Limited

Posted: 02 Nov 2011 12:33 AM PDT

Forexpros – The euro moved higher against the U.S. dollar on Wednesday, pulling back from Tuesday's three-week trough but the single currency's gains looked set to be capped amid concerns over a planned referendum by Greece.

EUR/USD hit 1.3756 during late Asian trade, the daily high; the pair subsequently consolidated at 1.3742, gaining 0.29%.

The pair looked likely to find support at 1.3607, Tuesday's low and a three-week low and resistance at 1.3870, Tuesday's high.

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


Forex Trading: USD/CHF Testing Support @ .8834

Posted: 02 Nov 2011 12:30 AM PDT

The pair is finding support at this level; we also have trend line support coming in at this level. The market is still calm, it doesn't look like we'll see any real moves until European equities … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Australia Building Approvals Plunge In September

Posted: 02 Nov 2011 12:12 AM PDT

Forexpros – The number of new building approvals issued in Australia fell significantly more-than-expected in September, official data showed on Wednesday.

In a report, the Australian Bureau of Statistics said new building approvals issued tumbled by a seasonally adjusted 13.6% in September, disappointing expectations for a 4.7% decline.

The previous month's figure was revised down to a gain of 10.7% from a previously reported 11.4% increase.

Year-on-year, the number of building … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Singapore Stock Market Update For Wednesday 02 November

Posted: 01 Nov 2011 11:13 PM PDT

Despite sell down on yesterday US market on Greece crisis, Singapore market managed to eek off gains. On short term basis, we expect market to be on the upside. However, do take note that long term basis, the market is still down but is under going a transition period of turning bullish, in other words, uncertainty still persist in the market. Expect wild swing on the up and downside.

For conservative investors, standing sideline will be the best choice for now. Any mid term positions shall be … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Aggressive Growth Stock: Greatbatch, Inc

Posted: 01 Nov 2011 11:05 PM PDT

Earnings season is in full swing so let’s take a look at one of the recent surprises. Greatbatch, Inc. (NYSE:GB) came in ahead of expectations, but how are analysts reacting to this Zacks #1 Rank (Strong Buy).
Company Description
Greatbatch provides components and devices predominantly for the medical industry, but also for the battery, wireless, defense, and other industries
Beat Estimates
Last week, on Oct 27, Greatbatch topped Wall Street forecasts for the third time in the past 4 quarters. … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Bull Of The Day: Neurocrine Biosciences (NBIX)

Posted: 01 Nov 2011 11:05 PM PDT

With a strong financial position, we believe Neurocrine Biosciences (NASDAQ:NBIX) is in an outstanding position to build shareholder value over the next several years. The company exited the third quarter 2011 with over $140 million in cash and investments, with the potential to earn several hundred million more as clinical development progresses.
The company’s dramatically improved financial position affords management the opportunity to push forward the development of internal pipeline candidates, … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Bear Of The Day: Bemis Corporation (BMS)

Posted: 01 Nov 2011 11:05 PM PDT

Bemis Company (NYSE:BMS) reported third-quarter EPS of $0.56, a penny below the year-ago quarter and missing the Zacks Consensus Estimate by 2 cents. Rising raw materials prices have significantly impacted the company, putting downward pressure on its margins.
Nearly 35% of its total revenues last year came from its business outside the United States. Recent instability in the global markets and foreign exchange rates may hinder its revenue generation and other financial results.
Further, lower … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Growth & Income Stock: B&G Foods, Inc.

Posted: 01 Nov 2011 11:05 PM PDT

Estimates have been rising for B&G Foods, Inc. (NYSE:BGS) after the company delivered solid third quarter results. It is a Zacks #1 Rank (Strong Buy) stock.
Net sales were up 6% on strong volume and EPS jumped 32% as the company leveraged its interest expense. Analysts expect strong earnings growth to continue over the next couple of years too.
Based on consensus estimates, analysts project 20% EPS growth this year and 7% growth next year. In addition, the company pays a dividend that yields a … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Momentum Stock: Healthstream, Inc.

Posted: 01 Nov 2011 11:05 PM PDT

Healthstream, Inc. (HSTM) is trading in a class of its own, recently hitting a new 52-week high on another great quarter. With an average earnings surprise of 42% over the last four quarters and a bullish growth projection, this Zacks #1 Rank stock offers a healthy stream of momentum.
Company Description
Healthstream, Inc. provides Internet-based learning and research solutions in the United States. The company was founded in 1990 and has a market cap of $334 million.
Although Healthstream … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Forex – EUR/USD Up During The Asian Session

Posted: 01 Nov 2011 10:55 PM PDT

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

EUR/USD was trading at 1.3715, up 0.09% at time of writing.

The pair was likely to find support at 1.3609, Tuesday's low, and resistance at 1.4199, Friday's high.

Meanwhile, the Euro was down against the British Pound and the Japanese Yen, with EUR/GBP shedding 0.12% to hit 0.8582 and EUR/JPY falling 0.24% to hit … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Forex – GBP/USD Up In Asian Trade

Posted: 01 Nov 2011 10:25 PM PDT

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

GBP/USD was trading at 1.5982, up 0.20% at time of writing.

The pair was likely to find support at 1.5891, Tuesday's low, and resistance at 1.6166, Monday's high.

Meanwhile, the British Pound was up against the Euro and down against the Japanese Yen, with EUR/GBP shedding 0.07% to hit 0.8586 and GBP/JPY falling 0.11% 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: 01 Nov 2011 09:55 PM PDT

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

EUR/CHF was trading at 1.2152, down 0.03% at time of writing.

The pair was likely to find support at 1.2141, Tuesday's low, and resistance at 1.2245, Friday's high.

Meanwhile, the Euro was up against the U.S. Dollar and down against the Japanese Yen, with EUR/USD gaining 0.10% to hit 1.3717 and EUR/JPY falling 0.22% to hit … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Forex – USD/CHF Down During Asian Trade

Posted: 01 Nov 2011 09:25 PM PDT

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

USD/CHF was trading at 0.8859, down 0.14% at time of writing.

The pair was likely to find support at 0.8598, Friday's low, and resistance at 0.8960, Tuesday's high.

Meanwhile, the U.S. Dollar was down against the Euro and the Japanese Yen, with EUR/USD gaining 0.11% to hit 1.3718 and USD/JPY falling 0.30% to hit … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Forex – EUR/GBP Down During The Asian Session

Posted: 01 Nov 2011 09:00 PM PDT

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

EUR/GBP was trading at 0.8586, down 0.07% at time of writing.

The pair was likely to find support at 0.8548, Tuesday's low, and resistance at 0.8820, Friday's high.

Meanwhile, the Euro was up against the U.S. Dollar and down against the Japanese Yen, with EUR/USD gaining 0.10% to hit 1.3717 and EUR/JPY falling 0.20% to hit … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Forex – USD/JPY Down During Asian Trade

Posted: 01 Nov 2011 08:35 PM PDT

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

USD/JPY was trading at 78.16, down 0.27% at time of writing.

The pair was likely to find support at 75.58, Monday's low, and resistance at 79.53, Monday's high.

Meanwhile, the U.S. Dollar was down against the Euro and the British Pound, with EUR/USD gaining 0.07% to hit 1.3712 and GBP/USD rising 0.15% to hit … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Forex – USD/CAD Down In Asian Trading Hours

Posted: 01 Nov 2011 08:10 PM PDT

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

USD/CAD was trading at 1.0186, down 0.19% at time of writing.

The pair was likely to find support at 0.9896, Friday's low, and resistance at 1.0224, Tuesday's high.

Meanwhile, the U.S. Dollar was down against the Euro and the British Pound, with EUR/USD gaining 0.04% to hit 1.3709 and GBP/USD rising 0.11% to hit … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Forex Trading: Euro Gains Light Bid On Greek Update

Posted: 01 Nov 2011 07:32 PM PDT

The EURUSD pair moved above the 1.37 handle to a high 1.3720 on a report from a Greek government official stating that the cabinet decided to give Prime Minister Papandreou unanimous backing for his plans to hold a … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Forex Trading: Usd/hkd Testing The 23.6% Retracement Level.

Posted: 01 Nov 2011 07:32 PM PDT

usd/hkd is testing the 23.6% retracement level in this daily … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Forex – AUD/USD Down During Asian Trade

Posted: 01 Nov 2011 07:30 PM PDT

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

AUD/USD was trading at 1.0322, down 0.09% at time of writing.

The pair was likely to find support at 1.0272, Tuesday's low, and resistance at 1.0732, Friday's high.

Meanwhile, the Australian Dollar was down against the Euro and the Japanese Yen, with EUR/AUD gaining 0.03% to hit 1.3270 and AUD/JPY falling 0.40% to hit … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Forex – EUR/USD Down During The Asian Session

Posted: 01 Nov 2011 07:05 PM PDT

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

EUR/USD was trading at 1.3700, down 0.02% at time of writing.

The pair was likely to find support at 1.3609, Tuesday's low, and resistance at 1.4199, Friday's high.

Meanwhile, the Euro was down against the British Pound and the Japanese Yen, with EUR/GBP shedding 0.14% to hit 0.8580 and EUR/JPY falling 0.32% to hit … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


China Manipulates Its Currency To The Advantage Of U.S. Consumers And Businesses Buying Its Products

Posted: 01 Nov 2011 06:57 PM PDT

At an event hosted last week by The Aspen Institute “Is U.S. Trade Policy Helping or Hurting Manufacturing?” featuring former U.S. Trade Representative Susan Schwab and Jared Bernstein, there was a lively debate on a number of issues relating to trade and manufacturing. While there were differences of opinions on most topics, there was a strong consensus (including the attendees) on one topic: China is a currency manipulator. Here are the details of that consensus, as I understand it:

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


Forex – EUR/JPY Down During Asian Trade

Posted: 01 Nov 2011 06:35 PM PDT

Forexpros – The Euro was lower against the Japanese Yen on Wednesday.

EUR/JPY was trading at 107.24, down 0.16% at time of writing.

The pair was likely to find support at 106.50, Tuesday's low, and resistance at 111.55, Monday's high.

Meanwhile, the Euro was up against the U.S. Dollar and down against the British Pound, with EUR/USD gaining 0.07% to hit 1.3713 and EUR/GBP falling 0.10% to hit … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Debit Card Fees: Sending The Wrong Message

Posted: 01 Nov 2011 06:33 PM PDT

Don't get me wrong. I don't like bank fees any more than anybody else. To avoid some of them, I'm sure I Iose money, net, on zero or near-zero interest rate balances at my bank. For the record, I don't use my debit card except for an occasional ATM withdrawal of cash.
Having said that, I think it is unfortunate in at least one respect that Bank of America withdrew its $5 per month fee for its debit card use. It sends the message that such fees are arbitrary, unfair, and may be withdrawn … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Forex Trading: USDSGD Trades Off 50%

Posted: 01 Nov 2011 06:31 PM PDT

The USDSGD pair on the back of risk aversion has gained a substantial bid, however technically trading off the 50% retracement of the move this autumn. It is also noteworthy the pair also caught a bid after trading down to the 100 day moving average only a few sessions ago. Stay … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Forex Trading: Usd/cnh Breaks Out Of A Downward Channel

Posted: 01 Nov 2011 06:31 PM PDT

uas/cnh giving is a bullish signal after breaking out of this downward … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Forex Trading: Usd/hkd Broke Out Of The 100 Hour MV

Posted: 01 Nov 2011 06:31 PM PDT

The 100 hour moving average held for two attempts to trade about that trend but after the third time it broke through and now finding resistance on the 200 hour moving … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Forex Trading: Usd/sgd Is Testing The 50% Retracement Level On The 4hour Chart.

Posted: 01 Nov 2011 06:31 PM PDT

usd/sgd is testing the 50% retracement level on the 4hour … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Forex Trading: USDHKD Trades Off 200hr

Posted: 01 Nov 2011 06:31 PM PDT

The 200hr moving average seems to be resisting the appreciation in the USDHKD pair over the last few sessions although there has been no touch. This Asian session we see the HKD appreciate against the USD pushing the pair back below the 50% retracement of the recent move and approaching the trending 21hr mavg where the pairs seems to have been catching a bid this … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Forex – GBP/JPY Down During The Asian Session

Posted: 01 Nov 2011 05:45 PM PDT

Forexpros – The British Pound was lower against the Japanese Yen on Wednesday.

GBP/JPY was trading at 124.82, down 0.16% at time of writing.

The pair was likely to find support at 121.84, Friday's low, and resistance at 127.29, Monday's high.

Meanwhile, the British Pound was down against the U.S. Dollar and up against the Euro, with GBP/USD shedding 0.03% to hit 1.5944 and EUR/GBP falling 0.19% to hit … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Forex – EUR/USD Down In Asian Trade

Posted: 01 Nov 2011 05:05 PM PDT

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

EUR/USD was trading at 1.3674, down 0.22% at time of writing.

The pair was likely to find support at 1.3609, Tuesday's low, and resistance at 1.4199, Friday's high.

Meanwhile, the Euro was down against the British Pound and the Japanese Yen, with EUR/GBP shedding 0.20% to hit 0.8574 and EUR/JPY falling 0.35% to hit … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Daily Indices Update: AUSTRALIA 200 (AUS200)

Posted: 01 Nov 2011 06:32 AM PDT

By ForexMansion.com
by, James A. Hyerczyk
Following a prolonged move down in terms of price and time, the AUS200 index CFD reached a low price and rallied, helping to form a bottom and finishing the support line of a channel down chart pattern on the 60 minute chart. With this set-up, Autochartist has identified this as an emerging pattern. This means the market is likely to trade inside the support and resistance lines until they are violated.

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


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