DailyMarkets.com - Forex – USD/CHF Higher After Expensive Spanish Bond Sale

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• Forex – USD/CHF Higher After Expensive Spanish Bond Sale
• Copper Extends Losses After Spanish Auction Disappoints
• Swiss ZEW Economic Expectations Deteriorate In November
• Forex – Dollar Mixed Ahead Of French/Spanish Bond Auctions
• U.K. Retail Sales Rise Unexpectedly In October
• European Stocks Fall Ahead Of Bond Auctions; DAX Down 0.57%
• Gold Futures Steady Ahead Of Spain, France Auctions
• Forex – GBP/USD Edges Higher As E.Z. Concerns Remain
• Crude Oil Futures Rally To 6-month High On Pipeline Deal
• Forex – USD/JPY Edges Lower In Risk-off Trade
• Forex – AUD/USD Almost Unchanged As E.Z. Concerns Weigh
• Forex – NZD/USD Steady Amid E.Z. Uncertainty
• U.K. Nationwide Consumer Confidence Deteriorates
• Asia Stocks Mixed Amid Ongoing EZ Fears; Nikkei Adds 0.2%
• Forex – EUR/USD Off 5-week Low But Remains Vulnerable
• Momentum Stock: Smithfield Foods, Inc.
• Bull Of The Day: Perrigo Company (PRGO)
• Bear Of The Day: Leggett & Platt, Inc. (LEG)
• Growth & Income Stock: Genesis Energy, L.P.
• Aggressive Growth Stock: Kenexa Corp
• Forex – EUR/USD Up During The Asian Session
• Crude Oil Breaks From Sentiment Trends, Gold Hinges On US Dollar Moves
• Forex – GBP/USD Up In Asian Trade
• Forex – EUR/CHF Up In Asian Trading Hours
• Forex – USD/CHF Up During Asian Trade
• Forex – EUR/GBP Up During The Asian Session
• U.S. Dependence On Foreign Oil Lowest Since 1995
• Forex – EUR/USD Up During The Asian Session
• Forex – GBP/JPY Down During The Asian Session

Forex – USD/CHF Higher After Expensive Spanish Bond Sale Posted: 17 Nov 2011 02:43 AM PST Forexpros – The U.S. dollar was higher against the Swiss franc on Thursday, after Spanish borrowing costs rose to a euro-era high, underlining investor concerns over the ongoing debt crisis in the euro zone. USD/CHF hit 0.9236 during European morning trade, the pair's highest since October 10; the pair subsequently consolidated at 0.9211, gaining 0.19%. The pair was likely to find support at 0.9138, Wednesday's low and resistance at 0.9272, the high of October 10. Spain sold EUR3.56 … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Copper Extends Losses After Spanish Auction Disappoints Posted: 17 Nov 2011 02:29 AM PST Forexpros – Copper futures added to losses on Thursday, falling to a four-day following a lackluster Spanish bond auction, which saw yields spike to a euro-lifetime high. On the Comex division of the New York Mercantile Exchange, copper futures for December delivery traded at USD3.434 a pound during European morning trade, tumbling 1.46%. It earlier fell by as much as 1.8% to trade at USD3.412 a pound, the lowest price since November 11. Earlier in the day, Spain auctioned EUR3.56 billion … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Swiss ZEW Economic Expectations Deteriorate In November Posted: 17 Nov 2011 02:06 AM PST Forexpros – Economic sentiment in Switzerland deteriorated in November, as Europe's ongoing sovereign debt crisis continued to weigh on sentiment, data showed on Thursday. In a report, the Centre for European Economic Research (ZEW) said its indicator of economic sentiment fell by 9.9 points to minus 64.3 in November from a reading of minus 54.4 in October. A reading above 0.0 on the indicator indicates optimism, while a score below 0.0 indicates pessimism. The indicator for the … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – Dollar Mixed Ahead Of French/Spanish Bond Auctions Posted: 17 Nov 2011 01:55 AM PST Forexpros – The U.S. dollar was mixed against its major counterparts on Thursday, as investors were jittery ahead of French and Spanish bond auctions later in the day. During European morning trade, the dollar was up against the euro, with EUR/USD slipping 0.01% to hit 1.3457. Spain was due to auction up to EUR4 billion of 10-year bonds and Madrid was expected to face its highest borrowing cost since the inception of the single currency. Meanwhile, France was to auction up to EUR7 billion … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

U.K. Retail Sales Rise Unexpectedly In October Posted: 17 Nov 2011 01:41 AM PST Forexpros – Retail sales in the U.K. rose for the second consecutive month in October, confounding expectations for a modest decline, official data showed on Thursday. In a report, the U.K. Office for National Statistics said retail sales rose by a seasonally adjusted 0.6% in October, confounding expectations for a 0.2% decline. Retail sales for September were revised down to a 0.5% gain from a previously reported 0.6% increase. Year-on-year, retail sales rose at an annualized rate of 0.9% … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

European Stocks Fall Ahead Of Bond Auctions; DAX Down 0.57% Posted: 17 Nov 2011 01:39 AM PST Forexpros – European stock markets were lower on Thursday, as investors remained cautious ahead of French and Spanish bond auctions scheduled later in the day. During European morning trade, the EURO STOXX 50 fell 0.57%, France's CAC 40 dropped 0.82%, while Germany's DAX 30 declined 0.57%. Spain was due to auction up to EUR4 billion of 10-year bonds and Madrid was expected to face its highest borrowing cost since the inception of the single currency. Meanwhile, France was to auction up … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Gold Futures Steady Ahead Of Spain, France Auctions Posted: 17 Nov 2011 01:30 AM PST Forexpros – Gold futures were steady on Thursday, as traders remained cautious ahead of closely-watched Spanish and French bond auctions scheduled later in the day. On the Comex division of the New York Mercantile Exchange, gold futures for December delivery traded at USD1,762.85 a troy ounce during European morning trade, easing down 0.08%. The gold contract traded between a range of USD1,758.55 a troy ounce, the daily low and USD1,768.05, the daily high. Later in the day, Spain was due … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – GBP/USD Edges Higher As E.Z. Concerns Remain Posted: 17 Nov 2011 01:14 AM PST Forexpros – The pound was edged higher against the U.S. dollar on Thursday, but market uncertainty ahead of French and Spanish bond auctions weighed on demand for riskier assets. GBP/USD hit 1.5690 during European morning trade, the pair’s lowest since October 20; the pair subsequently consolidated at 1.5751, rising 0.14%. Cable was likely to find support at 1.5631, the low of October 18 and resistance at 1.5846, the high of October 19. The pound came under pressure as Spain was due to … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Crude Oil Futures Rally To 6-month High On Pipeline Deal Posted: 17 Nov 2011 12:41 AM PST Forexpros – Crude oil futures rallied for a second day on Thursday, jumping to a six-month high after news of the reversal of a major U.S. oil pipeline boosted hopes that a supply glut in the U.S. will be eased. On the New York Mercantile Exchange, light, sweet crude futures for delivery in January traded at USD103.03 a barrel during European morning trade, gaining 0.41%. It earlier rose by as much as 0.65% to trade at USD103.37 a barrel, the highest price since May 11. Markets were caught … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – USD/JPY Edges Lower In Risk-off Trade Posted: 17 Nov 2011 12:31 AM PST Forexpros – The U.S. dollar edged lower against the yen on Thursday, as ongoing concerns over the euro zone’s crisis ahead of French and Spanish bond auctions supported safe haven demand. USD/JPY hit 76.95 during European morning trade, the daily low; the pair subsequently consolidated at 76.96, shedding 0.11%. The pair was likely to find support at 76.65, the low of October 19 and resistance at 77.28, the high of October 13. Spain was to auction EUR4 billion of 10-year bonds and Madrid … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – AUD/USD Almost Unchanged As E.Z. Concerns Weigh Posted: 17 Nov 2011 12:21 AM PST Forexpros – The Australian dollar was almost unchanged against its U.S. counterpart, swinging between small gains and losses as markets eyed Spanish and French bond auctions scheduled later in the day. AUD/USD hit 1.0020 during late Asian trade, the pair’s lowest since October 12; the pair subsequently consolidated at 1.0089, edging up 0.06%. The pair was likely to find support at 0.9905, the low of October 11 and resistance at 1.0208, the high of November 10. Risk sentiment came under … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – NZD/USD Steady Amid E.Z. Uncertainty Posted: 17 Nov 2011 12:05 AM PST Forexpros – The New Zealand dollar was almost unchanged against its U.S. counterpart on Thursday, as investors remained cautious over the debt crisis in the euro zone ahead of French and Spanish bond auctions later in the day. NZD/USD hit 0.7618 during late Asian trade, the pair’s lowest since October 5; the pair subsequently consolidated at 0.7660, inching up 0.03%. The pair was likely to find support at 0.7796, the low of October 5 and resistance at 0.7796, the high of October 7. Later … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

U.K. Nationwide Consumer Confidence Deteriorates Posted: 17 Nov 2011 12:05 AM PST Forexpros – The U.K.'s Nationwide consumer confidence index deteriorated for the fourth consecutive month in October, hovering close to the all-time low, industry data showed on Thursday. In a report, the Nationwide Building Society said that its consumer confidence index fell by 9.0 points to a seasonally adjusted 36.0, down from September's reading of 45.0. Analysts had expected the Nationwide consumer confidence index to improve by 1.0 point to 46.0 in October. The main index now … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Asia Stocks Mixed Amid Ongoing EZ Fears; Nikkei Adds 0.2% Posted: 16 Nov 2011 11:52 PM PST Forexpros – Asian stock markets were mixed in cautious trade on Thursday, amid ongoing concerns that the euro zone's sovereign debt crisis will worsen and spread to the region's core economies. During late Asian trade, Hong Kong’s Hang Seng Index slumped 1%, Australia's ASX/200 Index edged 0.25% higher, while Japan's Nikkei 225 Index added 0.19%. Investors continued to monitor developments surrounding the debt crisis in the euro zone, as bond yields for Italy hovered close to the 7% … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – EUR/USD Off 5-week Low But Remains Vulnerable Posted: 16 Nov 2011 11:42 PM PST Forexpros – The euro clawed back from a five-week low against the U.S. dollar on Thursday, but the single currency remained vulnerable after French and Spanish bond auctions later in the day. EUR/USD pulled away from 1.3422, the pair's lowest since October 10, to hit 1.3490 during late Asian trade, easing up 0.21%. The pair was likely to find support at 1.3360, the low of October 10 and resistance at 1.3640, Tuesday's high. Later in the day, Spain was due to auction up to EUR4 billion … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Momentum Stock: Smithfield Foods, Inc. Posted: 16 Nov 2011 11:05 PM PST Smithfield Foods, Inc. (SFD) is up almost 30% in the last 6 weeks, getting a boost from the bullish market and record Q2 results that came in ahead of expectations. With an average earnings surprise of 19% over the last four quarters and solid 9% growth projection, this Zacks #1 Rank stock has an appetite for momentum. Company Profile Smithfield Foods, Inc., together with its subsidiaries, produces and sells fresh and packaged meats in the United States and internationally. The company was … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Bull Of The Day: Perrigo Company (PRGO) Posted: 16 Nov 2011 11:05 PM PST Perrigo Company (NASDAQ:PRGO) reported earnings per share of $1.10 for the first quarter of fiscal 2012, beating the Zacks Consensus Estimate of $1.03 and the year-earlier earnings of $0.87. Perrigo upped fiscal 2012 earnings per share outlook from $4.50-$4.65 to $4.65-$4.80 due to a strong pipeline and production efficiency gains. Revenue guidance was also increased. We too increased our revenue and earnings estimates for fiscal 2012. We believe that Perrigo’s strong position in the brand OTC … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Bear Of The Day: Leggett & Platt, Inc. (LEG) Posted: 16 Nov 2011 11:05 PM PST Leggett & Platt, Inc.’s (NYSE:LEG) increased operating expenses coupled with higher cost inflation battered the third-quarter 2011 results. The company reported a flat year-over-year earnings of $0.31 per share, missing the Zacks Consensus Estimate of $0.36. Consequently, anticipating lower market growth expectation, the company has lowered its sales guidance for fiscal 2011 from the range of $3.5 $3.7 billion to $3.6 billion. On the back of promising sales, Leggett also lowered and narrowed … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Growth & Income Stock: Genesis Energy, L.P. Posted: 16 Nov 2011 11:05 PM PST Investors looking for some solid and stable income amid the market turbulence should consider Genesis Energy, L.P. (GEL). The partnership has raised its quarterly distribution 25 times in a row, and it currently yields a juicy 6.4%. Earnings estimates have been rising too after the company delivered better than expected results for the third quarter of 2011. It is a Zacks #1 Rank (Strong Buy) stock. Based on current consensus estimates, analysts project 68% earnings growth this year and 29% … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Aggressive Growth Stock: Kenexa Corp Posted: 16 Nov 2011 11:05 PM PST Kenexa Corp. (NASDAQ:KNXA) has been busy the past 2 weeks. An earnings surprise, an acquisition, and a major deal with a new customer have led to upward estimate revisions and landed KNXA amongst the Zacks #1 Rank (Strong Buy) stocks. Company Description Kenexa provides software and services that help companies recruit and retain employees. HR solutions focus on employee assessments, compensation, recruitment, leadership and other areas. Positive Earnings Surprise On Nov 2 Kenexa reported … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – EUR/USD Up During The Asian Session Posted: 16 Nov 2011 10:55 PM PST Forexpros – The Euro was higher against the U.S. Dollar on Thursday. EUR/USD was trading at 1.3515, up 0.39% at time of writing. The pair was likely to find support at 1.3422, Wednesday's low, and resistance at 1.3807, Monday's high. Meanwhile, the Euro was up against the British Pound and the Japanese Yen, with EUR/GBP gaining 0.22% to hit 0.8575 and EUR/JPY rising 0.28% to hit … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Crude Oil Breaks From Sentiment Trends, Gold Hinges On US Dollar Moves Posted: 16 Nov 2011 10:47 PM PST Talking Points Oil Breaks with Risk Trends on Inventory Drawdown Expectations Gold Looks to US Dollar Trend, QE3 Bets to Set Direction Cues WTI Crude Oil (NY Close): $102.59 // +3.22 // +3.24% Crude oil prices diverged from overall risk sentiment trends, pushing higher despite a decline on Wall Street following news that Canada's Enbridge Inc announced that it purchased a 50 percent stake in the Seaway pipeline that supplies oil to the Cushing, Oklahoma inventory facility. Enbridge said … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – GBP/USD Up In Asian Trade Posted: 16 Nov 2011 10:25 PM PST Forexpros – The British Pound was higher against the U.S. Dollar on Thursday. GBP/USD was trading at 1.5748, up 0.11% at time of writing. The pair was likely to find support at 1.5691, today's low, and resistance at 1.6092, Monday's high. Meanwhile, the British Pound was down against the Euro and up against the Japanese Yen, with EUR/GBP gaining 0.16% to hit 0.8570 and GBP/JPY rising 0.04% 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: 16 Nov 2011 09:55 PM PST Forexpros – The Euro was higher against the Swiss Franc on Thursday. EUR/CHF was trading at 1.2412, up 0.27% at time of writing. The pair was likely to find support at 1.2328, Monday's low, and resistance at 1.2427, Tuesday's high. Meanwhile, the Euro was up against the U.S. Dollar and the Japanese Yen, with EUR/USD gaining 0.36% to hit 1.3511 and EUR/JPY rising 0.30% to hit … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – USD/CHF Up During Asian Trade Posted: 16 Nov 2011 09:25 PM PST Forexpros – The U.S. Dollar was higher against the Swiss Franc on Thursday. USD/CHF was trading at 0.9202, up 0.08% at time of writing. The pair was likely to find support at 0.8962, Monday's low, and resistance at 0.9230, Wednesday's high. Meanwhile, the U.S. Dollar was down against the Euro and the Japanese Yen, with EUR/USD gaining 0.14% to hit 1.3481 and USD/JPY falling 0.03% to hit … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – EUR/GBP Up During The Asian Session Posted: 16 Nov 2011 09:00 PM PST Forexpros – The Euro was higher against the British Pound on Thursday. EUR/GBP was trading at 0.8570, up 0.17% at time of writing. The pair was likely to find support at 0.8519, Tuesday's low, and resistance at 0.8602, Monday's high. Meanwhile, the Euro was up against the U.S. Dollar and the Japanese Yen, with EUR/USD gaining 0.19% to hit 1.3488 and EUR/JPY rising 0.12% to hit … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

U.S. Dependence On Foreign Oil Lowest Since 1995 Posted: 16 Nov 2011 08:49 PM PST From Daniel Yergin’s September WSJ article “There Will Be Oil”: “In 2003, the Bakken formation in North Dakota was producing a mere 10,000 barrels a day. Today, it is over 400,000 barrels, and North Dakota has become the fourth-largest oil-producing state in the country. Such “tight” oil could add as much as two million barrels a day to U.S. oil production after 2020—something that would not have been in any forecast five years ago. Overall U.S. oil production has increased more than 10% … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – EUR/USD Up During The Asian Session Posted: 16 Nov 2011 07:05 PM PST Forexpros – The Euro was higher against the U.S. Dollar on Thursday. EUR/USD was trading at 1.3470, up 0.06% at time of writing. The pair was likely to find support at 1.3422, Wednesday's low, and resistance at 1.3807, Monday's high. Meanwhile, the Euro was up against the British Pound and the Japanese Yen, with EUR/GBP gaining 0.16% to hit 0.8570 and EUR/JPY rising 0.04% to hit … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – GBP/JPY Down During The Asian Session Posted: 16 Nov 2011 05:45 PM PST Forexpros – The British Pound was lower against the Japanese Yen on Thursday. GBP/JPY was trading at 121.00, down 0.17% at time of writing. The pair was likely to find support at 120.89, today's low, and resistance at 124.33, Monday's high. Meanwhile, the British Pound was down against the U.S. Dollar and the Euro, with GBP/USD shedding 0.14% to hit 1.5708 and EUR/GBP rising 0.06% to hit … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

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