DailyMarkets.com - Forex – Euro Near 11-month Low Against Broadly Stronger Pound

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• Forex – Euro Near 11-month Low Against Broadly Stronger Pound
• Forex Trading: AUD/USD Testing 100 Day Moving Average
• Copper Climbs To 1-week High Ahead Of ECB Tender
• Forex – Dollar Down Vs. Rivals As ECB Op In Focus
• U.K. Public Sector Net Borrowing Rises Less-than-expected
• European Stocks Higher Ahead Of ECB Move; DAX Up 0.78%
• Italian GDP Contracts More-than-expected In Q3
• Crude Oil Trades Above USD98 On Supply Fears, Weak Dollar
• Forex – GBP/USD Hits 9-day High On E.Z. Hopes
• Gold Futures Rally To 1-week High In Risk-on Trade
• Forex – USD/JPY Lower After BOJ Meeting
• Forex Trading: EUR/USD Consolidation Between 1.31018 And 1.31258
• Forex – AUD/USD Sharply Higher As Markets Eye ECB Move
• Forex – NZD/USD Rallies To 9-day High Ahead Of ECB Loans
• Asia Stocks Rally On Global Economic Outlook; Nikkei Up 1.5%
• Forex – Euro Up Against Dollar Ahead Of EBC Operation
• Bank Of Japan Holds Rate, Announces Liquidity Measures
• BoJ Holds Key Interest Rate Steady
• Morocco Central Bank Holds Interest Rate At 3.25%
• Growth & Income Stock: The Kroger Co.
• Bear Of The Day: Citi Trends, Inc. (CTRN)
• Bull Of The Day: CenturyLink, Inc. (CTL)
• Momentum Stock: SolarWinds, Inc.
• Aggressive Growth Stock: IRobot Corp
• Architecture Indexes Support The Position That The Turning Point In Construction May Have Arrived
• Forex – USD/JPY Falls On Data-fueled Dollar Sales
• ORCL Turns Into Scrooge
• Singapore Stock Market Update For Wednesday 21 December
• Asia Stocks Climb On Global Rally; Nikkei Up 1.44%
• Forex – Dollar Drops As Positive Data Floods Headlines
• Forex – GBP/USD Firms As Dollar Loses Luster
• Channel Violation Is Bullish For The S&P
• Gold Rises As Risk-on Trading Shoots Across Globe
• Crude Oil Futures Soar On Supply Worries, Strong Data

Forex – Euro Near 11-month Low Against Broadly Stronger Pound Posted: 21 Dec 2011 02:27 AM PST Forexpros – The euro was trading close to an 11-month low against the broadly stronger pound on Wednesday, as ongoing concerns over the debt crisis in the euro zone bolstered demand for the relative safety of sterling. EUR/GBP hit 0.8345 during European morning trade, the daily low; the pair subsequently consolidated at 0.8355, inching up 0.04%. The pair was likely to find short-term support at 0.8339, Tuesday's low and an 11-month low and resistance at 0.8388, Tuesday's high. The … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex Trading: AUD/USD Testing 100 Day Moving Average Posted: 21 Dec 2011 02:18 AM PST With the high of 1.0210, the pair tested resistance at the 100 day moving average. While on the way to testing this level, we also came close to completing a full hourly retracement of the move from the high on December 9th to the low on the 15th. Currently all risk currencies are losing their bullish momentum; European equities have also come off a … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Copper Climbs To 1-week High Ahead Of ECB Tender Posted: 21 Dec 2011 02:18 AM PST Forexpros – Copper futures extended solid gains from the previous session on Wednesday, climbing to a one-week high as the U.S. dollar fell further amid optimism toward the European Central Bank's first offer of three-year loans later in the day. On the Comex division of the New York Mercantile Exchange, copper futures for March delivery traded at USD3.411 a pound during European morning trade, rallying 1.25%. It earlier rose by as much as 1.35% to trade at USD3.415 a pound, the highest … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – Dollar Down Vs. Rivals As ECB Op In Focus Posted: 21 Dec 2011 01:56 AM PST Forexpros – The U.S. dollar was down against all of its major counterparts on Wednesday, as investors awaited the results of a refinancing operation by the European Central Bank, aimed at averting a liquidity crunch in the euro zone. During European morning trade, the dollar was lower against the euro, with EUR/USD rising 0.47% to hit 1.3143. The ECB was to make its first offering of three-year loans, introduced after the bank's policy meeting earlier this month, to ensure that banks have … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

U.K. Public Sector Net Borrowing Rises Less-than-expected Posted: 21 Dec 2011 01:40 AM PST Forexpros – Public sector net borrowing in the U.K. rose less-than-expected in November, official data showed on Wednesday. In a report, the U.K. National Statistics Office said that public sector net borrowing, or the difference in value between public spending and income rose to GBP15.2 billion, from GBP3.0 billion in October, whose figure was revised down from GBP3.4 billion. Analysts had expected U.K. public sector net borrowing to rise to GBP15.8 billion. The report showed net … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

European Stocks Higher Ahead Of ECB Move; DAX Up 0.78% Posted: 21 Dec 2011 01:35 AM PST Forexpros – European stock markets were higher on Wednesday, as investor confidence strengthened ahead of the European Central Bank's first offer of three-year loans later in the day. During European morning trade, the EURO STOXX 50 climbed 0.76%, France's CAC 40 advanced 0.67%, while Germany's DAX 30 added 0.78%. The ECB was to offer banks unlimited amounts of low-cost, three-year funds, which many analysts hoped will encourage buying of high-yielding Spanish and Italian bonds, … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Italian GDP Contracts More-than-expected In Q3 Posted: 21 Dec 2011 01:21 AM PST Forexpros – Official data on Wednesday showed that Italy's economy shrank more-than-expected in the third quarter, underlining fears over the fiscal health of the euro zone's third largest economy. In a report, ISTAT, Italy's statistical office said the country's gross domestic product contracted by a seasonally adjusted 0.2% in the third quarter, worse than expectations for a 0.1% contraction. It was the first contraction since the final three months of 2009. Italy's economy … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Crude Oil Trades Above USD98 On Supply Fears, Weak Dollar Posted: 21 Dec 2011 01:06 AM PST Forexpros – Crude oil futures added to strong gains from the previous session on Wednesday, rallying to a one-week high as a broadly weaker U.S. dollar and growing fears over a disruption to global supplies boosted prices. On the New York Mercantile Exchange, light, sweet crude futures for delivery in February traded at USD98.20 a barrel during European morning trade, rallying 1%. It earlier rose by as much as 1.3% to trade at USD98.49 a barrel, the highest since December 14. Crude's … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – GBP/USD Hits 9-day High On E.Z. Hopes Posted: 21 Dec 2011 12:47 AM PST Forexpros – The pound rose to a nine-day high against the U.S. dollar on Wednesday, as investors hoped that a round of loans from the European Central Bank would ease concerns over the debt crisis in the euro zone. GBP/USD hit 1.5742 during European morning trade, the pair's highest since December 8; the pair subsequently consolidated at 1.5743, rising 0.51%. Cable was likely to find support at 1.5609, the low of December 8 and resistance at 1.5826, the high of November 16. Investors … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Gold Futures Rally To 1-week High In Risk-on Trade Posted: 21 Dec 2011 12:36 AM PST Forexpros – Gold futures extended sharp gains from the previous session on Wednesday, jumping to a one-week high as the U.S. dollar was broadly weaker ahead of the European Central Bank's first offer of three-year loans later in the day. On the Comex division of the New York Mercantile Exchange, gold futures for February delivery traded at USD1,632.25 a troy ounce during early European morning trade, climbing 0.91%. It earlier rose by as much as 1% to trade at USD1,633.35 a troy ounce, … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – USD/JPY Lower After BOJ Meeting Posted: 21 Dec 2011 12:27 AM PST Forexpros – The U.S. dollar was lower against the yen on Wednesday, as the Bank of Japan left monetary policy unchanged and markets eyed a round of loans from the European Central Bank. USD/JPY hit 77.70 during early European trade, the pair's lowest since December 16; the pair subsequently consolidated at 77.76, retreating 0.17%. The pair was likely to find support at 77.47, the low of December 1 and resistance at 78.05, Tuesday's high. The BOJ left its benchmark interest rate … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex Trading: EUR/USD Consolidation Between 1.31018 And 1.31258 Posted: 21 Dec 2011 12:23 AM PST For most of the trading day the pair has been trading between these two levels. It looks like European equities will be opening up slightly firmer, and the Nikkei closed +123.50, and the Hang Seng is up 1.41%. Current targets are support at 1.31018 and resistance at … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – AUD/USD Sharply Higher As Markets Eye ECB Move Posted: 21 Dec 2011 12:16 AM PST Forexpros – The Australian dollar was sharply higher against its U.S. counterpart on Wednesday, as demand for riskier assets strengthened ahead of the European Central Bank's first offer of three-year loans later in the day. AUD/USD hit 1.0184 during late Asian trade, the pair's highest since December 12; the pair subsequently consolidated at 1.0208, surging 1.27%. The pair was likely to find support at 0.9979, the low of December 13 and resistance at 1.0303, the high of December … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – NZD/USD Rallies To 9-day High Ahead Of ECB Loans Posted: 21 Dec 2011 12:07 AM PST Forexpros – The New Zealand dollar rallied to a nine-day high against its U.S. counterpart on Wednesday, as market sentiment was boosted ahead of the European Central Bank's first offer of three-year loans later in the day. NZD/USD hit 0.7748 during late Asian trade, the pair's highest since December 8; the pair subsequently consolidated at 0.7753, climbing 0.95%. The pair was likely to find support at 0.7609, the low of December 12 and resistance at 0.7838, the high of December … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Asia Stocks Rally On Global Economic Outlook; Nikkei Up 1.5% Posted: 20 Dec 2011 11:47 PM PST Forexpros – Asian stock markets rallied on Wednesday, tracking sharp gains in global equities as appetite for riskier assets improved amid renewed optimism over the health of the global economy. During late Asian trade, Hong Kong’s Hang Seng Index jumped 1.4%, Australia's S&P/ASX200 surged 2.1%, while Japan's Nikkei 225 Index advanced 1.5%. U.S. stocks rallied on Tuesday amid indications the U.S. economy was strengthening after government data showed Tuesday that U.S. building … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – Euro Up Against Dollar Ahead Of EBC Operation Posted: 20 Dec 2011 11:34 PM PST Forexpros – The euro pushed higher against the U.S. dollar on Wednesday, supported by hopes that a refinancing operation by the European Central Bank later in the day would alleviate some of the pressure caused by the debt crisis in the region. EUR/USD hit 1.3128 during late Asian trade, the daily high; the pair subsequently consolidated at 1.3113, gaining 0.24%. The pair was likely to find support at 1.2992, Tuesday's low and resistance at 1.3236, the high of December 13. The ECB was to … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Bank Of Japan Holds Rate, Announces Liquidity Measures Posted: 20 Dec 2011 11:28 PM PST The Bank of Japan kept its interest rate unchanged at 0-0.10% and made no changes to its 55 trillion yen quantitative easing program.  The Bank said: “The pick-up in Japan’s economic activity has paused, mainly due to the effects of a slowdown in overseas economies and of the appreciation of the yen.  As for domestic demand, business fixed investment has been on a moderate increasing trend and private consumption has remained firm.  On the other hand, exports and … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

BoJ Holds Key Interest Rate Steady Posted: 20 Dec 2011 11:27 PM PST Forexpros – The Bank of Japan on Wednesday kept its benchmark interest rate unchanged, in a widely expected move and cut its economic outlook citing the effects of a stronger yen and sluggish conditions abroad. In a statement, the BoJ said it was keeping its benchmark interest rate unchanged between a range of 0.0% to 0.1%, broadly in line with expectations. A statement on monetary policy released after the announcement showed that the Bank of Japan's nine-man policy board voted … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Morocco Central Bank Holds Interest Rate At 3.25% Posted: 20 Dec 2011 11:13 PM PST The Bank al-Maghrib of Morocco kept its main policy rate steady at 3.25%.  The Bank said: “In this context where the central inflation forecast is permanently consistent with the price stability objective and the balance of risks is tilted to the downside, in conjunction with international developments, the Board decided to keep the key rate unchanged at 3.25 percent.” Previously the Bank also held interest rates unchanged in September this year; it last … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Growth & Income Stock: The Kroger Co. Posted: 20 Dec 2011 11:00 PM PST The Kroger Co. (NYSE:KR) recently delivered excellent results for the third quarter of 2011, driven by a stellar 5.0% increase in same-store sales. Management raised its guidance for the remainder of the year off the strong quarter, prompting analysts to revise their estimates higher, and sending the stock to a Zacks #2 Rank (Buy). As it generates strong free cash flow, management has been rewarding shareholders through stock buybacks and dividend hikes. It currently yields 1.9%. Company … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Bear Of The Day: Citi Trends, Inc. (CTRN) Posted: 20 Dec 2011 11:00 PM PST Citi Trends, Inc. (NASDAQ:CTRN) falling comparable store sales, coupled with rising operating expenses battered the third-quarter 2011 results. The company incurred a quarterly loss of $0.38 per share that broadened from the prior-period loss of $0.03. The Zacks Consensus Estimate for the quarter was a loss of $0.37 per share. Further, due to uncertainty hovering around sales given the global economic unrest, the company rolled back its earnings guidance range of $1.25 to $1.35 per share for fiscal … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Bull Of The Day: CenturyLink, Inc. (CTL) Posted: 20 Dec 2011 11:00 PM PST We are upgrading our recommendation on CenturyLink, Inc. (NYSE:CTL) to Outperform on the back of synergies expected from the Embarq, Qwest and Savvis acquisitions. The company’s bottom line met the Zacks Consensus Estimate but revenue more than doubled during the quarter. Although the acquisitions would increase the company’s operating cost and debt, they would provide excess synergies going forward and boost the company’s competitive position. Furthermore, CenturyLink’s sustained focus on … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Momentum Stock: SolarWinds, Inc. Posted: 20 Dec 2011 11:00 PM PST SolarWinds, Inc. (SWI) has seen big gains over the last few months, jumping higher with the market on strong Q3 results that came in well ahead of expectations. With an average earnings surprise of 29% over the last four quarters and bullish 13% growth projection, this Zacks #1 Rank stock is a solid pick for momentum. Company Description SolarWinds develops, sells and supports information technology infrastructure management software worldwide. The company was founded in 1999 and has a market … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Aggressive Growth Stock: IRobot Corp Posted: 20 Dec 2011 11:00 PM PST iRobot Corp. (NASDAQ:IRBT) offers very unique products as well as strong growth at a reasonable price. Now is a good time take a look at this Zacks #1 Rank (Strong Buy). Company Description iRobot is not the latest gadget from Apple or a Will Smith movie, it is a company that makes robots for a variety of uses. Products range from the popular, floor-cleaning Roomba to bomb-disposal units in war zones. Beat & Raised On Oct 25 iRobot reported its third-quarter results that showed a 28% increase in … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Architecture Indexes Support The Position That The Turning Point In Construction May Have Arrived Posted: 20 Dec 2011 07:57 PM PST Washington, D.C. (no link available yet) – “Continuing the positive momentum of a nearly three point bump in October, the Architecture Billings Index (ABI) reached its first positive mark since August (see red line in chart above). As a leading economic indicator of construction activity, the ABI reflects the approximate nine to twelve month lag time between architecture billings and construction spending. The American Institute of Architects (AIA) reported the November ABI score was 52.0, … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – USD/JPY Falls On Data-fueled Dollar Sales Posted: 20 Dec 2011 07:42 PM PST Forexpros – The dollar weakened against the yen on Wednesday as data from both sides from the Pacific sent investors selling greenbacks and snapping up positions in the Japanese currency. USD/JPY was trading at 77.82, down 0.09%, up from a session low of 77.78 and off from the high of 77.90. The pair was likely to seek support at 77.72, Tuesday’s low, and resistance at 78.05, Tuesday’s high. The dollar weakened against major currencies earlier during the day as better-than-expected German … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

ORCL Turns Into Scrooge Posted: 20 Dec 2011 07:25 PM PST ORCL (Oracle) could turn out to be Ebenezer Scrooge in the midst of all the joy brought on by today's 3% move higher.  Just before Christmas, today's market renewed the Bull's hopes for a more positive 2012 than the year … Continue reading … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Singapore Stock Market Update For Wednesday 21 December Posted: 20 Dec 2011 07:25 PM PST US market rally after a solid report on November housing starts. Asia market join in, with strength for exporters and resource firms, as renewed optimism about the health of the global economy boosts risk appetite. However, Bank of Japan says economic recovery ‘paused’ and keeps policy rate unchanged. We suggest investors to stay sideline for the moment as market tends to be very choppy. With great uncertainty lying ahead before 2011 ends, we believed that market is consolidating. On the long … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Asia Stocks Climb On Global Rally; Nikkei Up 1.44% Posted: 20 Dec 2011 06:58 PM PST Forexpros – Asian stock markets advanced Wednesday grabbing firmly to the coattails of a rally in U.S. and European markets fueled by German optimism, strong U.S. housing data and refreshingly heavier than expected turnout at a Spanish government bond auction. During morning Asian trading, Hong Kong’s Hang Seng Index was up 1.77%, Australia’s S&P/ASX200 was up 2.11%, while Japan's Nikkei 225 Index was up 1.44%. Earlier in the day, the U.S. government reported housing starts grew 9.3% … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – Dollar Drops As Positive Data Floods Headlines Posted: 20 Dec 2011 06:20 PM PST Forexpros – The dollar fell against major currencies Wednesday as investors worldwide ditched the greenback and took up riskier positions elsewhere after a stream of positive economic data hit the newswire all day. During Asian morning trade, the greenback was down against the euro, with EUR/USD gaining 0.39% to hit 1.3120. Earlier during the day in Germany, business confidence numbers rose in December to 107.2 from 106.6 in November, outpacing market expectations. In Spain, the government … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – GBP/USD Firms As Dollar Loses Luster Posted: 20 Dec 2011 05:40 PM PST Forexpros – The pound strengthened against the dollar in early Asian trading Wednesday as investors sold dollars and snapped up other currencies to invest in stocks and other assets across the globe on optimism fueled by positive data. GBP/USD was trading at 1.5680, up 0.11%, and slightly off from a session high of 1.5683 and comfortably above a low of 1.5658. The pair was likely to test technical support at 1.5546 and resistance at 1.5744. The dollar weakened against major currencies … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Channel Violation Is Bullish For The S&P Posted: 20 Dec 2011 05:26 PM PST The E-Mini S&P 500 had been trending lower within the boundaries of a well-defined channel. However, today's decisive breakout indicates continued strength heading into the weekend. Here's more.. Channel The 60-minute chart of the ES shows price had been trending quietly lower within a two-week downtrending channel. Every bounce off the upper and lower boundaries was highly anticipated, but today's violation was not. The fact that price opened the session with a large breakaway gap … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Gold Rises As Risk-on Trading Shoots Across Globe Posted: 20 Dec 2011 05:14 PM PST Forexpros – Gold prices rose Wednesday, as investors ditched the metal’s traditional hedge, the dollar, and set out in search for riskier assets, including stocks, currencies and precious metals. On the Comex division of the New York Mercantile Exchange, gold futures for February delivery traded at USD1,624.45 a troy ounce in early Asian trading Wednesday, up 0 42%. Gold futures were likely to test technical support at USD1,603.79 a troy ounce, and resistance at USD1,628.79. In Europe on … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Crude Oil Futures Soar On Supply Worries, Strong Data Posted: 20 Dec 2011 04:48 PM PST Forexpros – Crude oil futures soared Wednesday, fueled by a double-shot of bullish news of supply worries on one hand and stronger economic data across the globe on the other. On the New York Mercantile Exchange, light, sweet crude futures for delivery in February traded at USD97.58 a barrel early in the session, up 3.75%. The commodity hit a session high of USD97.64 and a low of 97.38 so far in early Asian trading on Wednesday. Labor disputes in oil-rich Kazakhstan have escalated into … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

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