Monday, December 12, 2011

DailyMarkets.com - Forex – Euro Nears 8-month Low Against Pound After EU Summit

DailyMarkets.com - Forex – Euro Nears 8-month Low Against Pound After EU Summit


Forex – Euro Nears 8-month Low Against Pound After EU Summit

Posted: 12 Dec 2011 03:00 AM PST

Forexpros – The broadly weaker euro was down against the pound on Monday, trading close to an eight-month low as investors remained uncertain over the progress made at Friday's European Union summit.

EUR/GBP hit 0.8492 during European morning trade, the pair's lowest since Thursday; the pair subsequently consolidated at 0.8498, shedding 0.50%.

The pair was likely to find support at 0.8484, the low of November 11 and an eight-month low and resistance at 0.8553, the session high.

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


Forex – USD/CHF Higher On Renewed E.Z. Debt Concerns

Posted: 12 Dec 2011 02:27 AM PST

Forexpros – The U.S. dollar was higher against the Swiss franc on Monday, as safe haven demand found support after last week's European Union summit failed to reassure investors on the handling of the debt crisis in the euro zone.

USD/CHF hit 0.9291 during European morning trade, the pair's highest since December 6; the pair subsequently consolidated at 0.9292, climbing 0.66%.

The pair was likely to find support at 0.9164, the low of December 1 and short term resistance at 0.9329, the … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Copper Futures Plunge As EU Debt Concerns Linger

Posted: 12 Dec 2011 02:13 AM PST

Forexpros – Copper futures tumbled to an eight-day low on Monday, as investors dumped riskier assets after last week's European Union summit failed to ease concerns over the region's ongoing debt crisis.

On the Comex division of the New York Mercantile Exchange, copper futures for March delivery traded at USD3.472 a pound during European morning trade, tumbling 2.4%.

It earlier fell by as much as 2.68% to trade at USD3.462 a pound, the lowest since November 30.

All European Union … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Forex – Dollar Rallies As Uncertainty Remains After EU Summit

Posted: 12 Dec 2011 01:45 AM PST

Forexpros – The U.S. dollar was higher against all of its major counterparts on Monday, after European leaders disappointed expectations for an agreement on a comprehensive plan to arrest the spread of the debt crisis in the euro zone.

During European morning trade, the dollar was up against the euro, with EUR/USD tumbling 0.87% to hit 1.3269.

European Union leaders agreed Friday to implement stricter budgetary rules across the euro zone and to provide EUR200 billion in loans to the … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


European Stocks Lower As Debt Worries Persist; DAX Down 1.46%

Posted: 12 Dec 2011 01:21 AM PST

Forexpros – European stock markets were sharply lower on Monday, as sustained concerns over the region's debt crisis after last week's economic summit weighed on market sentiment.

During European morning trade, the EURO STOXX 50 tumbled 1.54%, France's CAC 40 fell 1.26%, while Germany's DAX 30 declined 1.46%.

All European Union countries except the U.K. agreed on Friday to pursue stricter budget rules and to provide up to 200 billion euros in loans to the International Monetary Fund … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Crude Oil Futures Decline As Euro Zone Debt Fears Linger

Posted: 12 Dec 2011 01:10 AM PST

Forexpros – Crude oil futures declined on Monday, dropping further below the key psychological level of USD100-a-barrel as market sentiment was dented amid ongoing concerns over the euro zone's sovereign debt crisis.

On the New York Mercantile Exchange, light, sweet crude futures for delivery in January traded at USD98.71 a barrel during European morning trade, slumping 0.79%.

It earlier fell by as much as 0.95% to trade at a daily low of USD98.55 a barrel.

All European Union countries … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Forex – GBP/USD Tumbles To 8-day Low On E.Z. Worries

Posted: 12 Dec 2011 12:42 AM PST

Forexpros – The pound tumbled to an eight-day low against the U.S. dollar on Monday, tracking the euro's losses as renewed concerns over the handling of the euro zone's debt crisis weighed on risk sentiment.

GBP/USD hit 1.5554 during European morning trade, the pair's lowest since November 30; the pair subsequently consolidated at 1.5558, dropping 0.71%.

Cable was likely to find support at 1.5484, the low of November 24 and resistance at 1.5725, the high of December 2.

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


Swiss Employment Level Rises More-than-expected In Q3

Posted: 12 Dec 2011 12:34 AM PST

Forexpros – The number of people employed in Switzerland rose more-than-expected in the third quarter, official data showed on Monday.

In a report, the Swiss Federal Statistics Office said that the number of employed people in Switzerland rose to a seasonally adjusted 4.05 million during the third quarter, up from 4.02 million in the preceding quarter, whose figure was revised up from 2.77 million.

Analysts had expected the Swiss employment level to rise to 4.04 million in the third … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Gold Tumbles Below USD1,700 As Dollar, EU Debt Woes Weigh

Posted: 12 Dec 2011 12:29 AM PST

Forexpros – Gold futures tumbled to a two-week low on Monday, trading below the psychologically-important USD1,700-an-ounce level as a broadly stronger U.S. dollar and fears over a possible downgrade of the euro zone's sovereign debt by Standard & Poor's drove prices lower.

On the Comex division of the New York Mercantile Exchange, gold futures for February delivery traded at USD1,691.55 a troy ounce during early European morning trade, tumbling 1.45%.

It earlier fell by as much as … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Forex – USD/JPY Steady Amid Euro Zone Debt Worries

Posted: 12 Dec 2011 12:17 AM PST

Forexpros – The U.S. dollar was almost unchanged against the yen on Monday, after European leaders fell short of unveiling a clear plan to resolve the euro zone's debt crisis at last week's two-day summit.

USD/JPY hit 0.9291 during European morning trade, the daily high; the pair subsequently consolidated at 77.65, gaining 0.04%.

The pair was likely to find support at 77.45, the low of November 28 and resistance at 77.78, the high of December 7.

Last week, European leaders agreed to … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Forex – NZD/USD Lower As E.Z. Concerns Weigh

Posted: 12 Dec 2011 12:08 AM PST

Forexpros – The New Zealand dollar was lower against its U.S. counterpart on Monday after European leaders agreed to strengthen economic integration in the euro zone but failed to reassure markets on the handling of the region's debt crisis.

NZD/USD hit 0.7704 during late Asian trade, the daily low; the pair subsequently consolidated at 0.7695, declining 0.77%.

The pair was likely to find support at 0.7575, the low of November 30 and resistance at 0.7838, the high of December 2.

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


Forex – AUD/USD Slips As E.Z. Debt Concerns Persist

Posted: 11 Dec 2011 11:57 PM PST

Forexpros – The Australian dollar slipped against its U.S. counterpart on Monday, after European leaders agreed on deeper economic integration but fell short of a clear plan to resolve the region's debt crisis.

AUD/USD hit 1.0138 during late Asian trade, the daily low; the pair subsequently consolidated at 1.0141, shedding 0.76%.

The pair was likely to find support at 1.0059, the low of November 16 and resistance at 1.0303, the high of December 7.

At a two-day summit last week, European … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Asia Stocks Broadly Higher On EU Deal; Nikkei Up 1.4%

Posted: 11 Dec 2011 11:44 PM PST

Forexpros – Asian stock markets were broadly higher on Monday, as shares in the financial sector performed strongly after a crucial summit of European Union leaders concluded with an agreement to introduce tighter fiscal controls across the single currency bloc.

During late Asian trade, Hong Kong’s Hang Seng Index edged 0.15% higher, Australia's S&P/ASX200 rose 1.2%, while Japan's Nikkei 225 Index gained 1.4%.

A two-day summit of 27 European leaders ended on Friday with an agreement … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Forex – EUR/USD Falls On S&P Downgrade Speculation

Posted: 11 Dec 2011 11:32 PM PST

Forexpros – The euro was lower against the U.S. dollar on Monday, amid speculation over a possible downgrade of the euro zone's sovereign debt by Standard &Poor's after the European Union agreed on tighter fiscal integration on Friday, but fell short of securing a treaty change.

EUR/USD hit 1.3309 during late Asian trade, the daily low; the pair subsequently consolidated at 1.3313, shedding 0.53%.

The pair was likely to find support at 1.3258, the low of November 30 and resistance … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Bull Of The Day: PS Business Parks (PSB)

Posted: 11 Dec 2011 11:00 PM PST

PS Business Parks (NYSE:PSB) reported strong third quarter 2011 results with healthy year-over-year increase in revenue and earnings. PS Business Parks owns and operates commercial real estate properties in diversified markets, which can be easily configured to suit a variety of uses to minimize downside risk and generate a steady source of revenue.
The company also has a strong balance sheet with adequate liquidity and minimal debt maturities. Over the last five years, PS Business Parks shares … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Growth & Income Stock: Stryker Corporation

Posted: 11 Dec 2011 11:00 PM PST

Stryker Corporation (NYSE:SYK) continues to deliver strong financial results, and reward its shareholders in the process.
Estimates have been rising after its latest earnings beat, sending the stock to a Zacks #2 Rank (Buy).
On top of strong growth prospects, the company pays a dividend that yields 1.8%. With shares trading at just 11.5x forward earnings, Stryker offers investors attractive total return potential.
Company Description
Stryker is one of the world’s leading medical technology … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Bear Of The Day: Linear Technology (LLTC)

Posted: 11 Dec 2011 11:00 PM PST

Linear Technology (NASDAQ:LLTC) is a leading OEM of analog and mixed signal semiconductors. September quarter results missed the Zacks Consensus, as weak demand, unfavorable mix and a higher tax rate impacted results. Extreme caution regarding customers also led to a weak guidance.
Therefore, despite the strong business model, excellent products and ability to generate strong operating cash flows, we advise investors to avoid the shares, since we believe there is uncertainty in near-term demand. The … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Aggressive Growth Stock: Omnicell Inc.

Posted: 11 Dec 2011 11:00 PM PST

Omnicell Inc. (NASDAQ:OMCL) in on a hot streak with 3 straight earnings surprise. Additionally, those earnings are expected to grow rapidly for the foreseeable future, but are the valuations too high for this Zacks #1 Rank (Strong Buy)?
Company Description
Omnicell provides automated and business information solution for hospitals and healthcare companies.
Tic Tac Toe
3 earnings surprises in a row. On Oct 27 Omnicell reported quarterly results that included EPS at $0.09, a penny better than the … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Momentum Stock: BRF Brasil Foods S.A.

Posted: 11 Dec 2011 11:00 PM PST

BRF Brasil Foods S.A. (BRFS) is capitalizing on strong emerging market growth, recently hitting a new 52-week high after reporting impressive Q3 results. With estimates on the rise and a bullish growth projection, this Zacks #1 Rank stock won’t leave you hungry for momentum.
Company Description
BRF Brasil Foods SA, through its subsidiaries, produces and sells poultry, pork, beef, dairy and processed food in Brazil and Internationally. The company has been in business for over 100 years and has … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


US Household Wealth Slips Again

Posted: 11 Dec 2011 09:00 PM PST

12/12/11 The net worth of American households was dragged down during the summer months. The Federal Reserve’s report showed that Q3 household wealth fell 4 … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Forex – GBP/USD Weakens In Wake Of Europe Impasse

Posted: 11 Dec 2011 08:20 PM PST

Forexpros – The pound slid against the dollar Monday in mid-session Asian trading amid a general rush to the dollar and also on tempering optimism stemming from Friday’s European Union summit.

GBP/USD was trading at 1.5638, down 0.21%.

The pair was likely to find support at 1.5611, Thursday’s low, and resistance at 1.5658, Friday’s high.

On Friday, Britain was the only country among the 27-member European Union to reject a new treaty that sought to coordinate fiscal policies in a more … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Asia Stocks Continue Advance On Europe Summit; Nikkei Up 1.49%

Posted: 11 Dec 2011 07:52 PM PST

Forexpros – Asian stock markets advanced Monday as investors snapped up equities on hopes European leaders will follow through on Friday pledges to align fiscal policies in a more centralized fashion and extinguish the debt crisis there.

During morning Asian trading, Hong Kong’s Hang Seng Index was up 1.44%, Australia’s S&P/ASX200 was up 1.00%, while Japan's Nikkei 225 Index shot up 1.49%.

While the world applauded European pledges to integrate fiscal policies at a Friday summit, many … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


America’s New Energy Security From Tight Oil

Posted: 11 Dec 2011 07:49 PM PST

Daniel Yergin in Monday’s WSJ, “America’s New Energy Security”:

“Every president since Richard Nixon has called for energy independence. Nevertheless, U.S. reliance on imported oil long seemed to be headed in only one direction—up—and that pointed to inevitably increasing dependence on the huge resources of the Middle East.

No longer. U.S. petroleum imports, on a net basis, reached their peak—60%—of domestic consumption in 2005. Since then, they have been going in the other … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Forex – Dollar Firms As Investors Flock To Safety

Posted: 11 Dec 2011 06:48 PM PST

Forexpros – The dollar rose in early Asian trading Monday as investors ran to the greenback to safety to gauge whether optimism stemming from Europe’s Friday agreement to align spending will turn into reality.

Gold and euro prices dropped amid the early-session scarmble for dollars.

In Europe on Friday, 26 eurozone countries agreed to better coordinate and integrate their fiscal policies as well as allocate 200 billion euros to the International Monetary Fund to help fence in the crisis, … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Forex Trading: AUDUSD With Downward Potential

Posted: 11 Dec 2011 06:34 PM PST

The AUDUSD pair has seen the longer-term moving averages turn negative and now 4-21 looks to break below 4-200. The pair has been trapped in December between the 61.8% that's resisted the pair and the 38.2% that has provided a bid. The markets do not seem encouraged by the developments in Europe over the weekend and any risk off momentum should be reflected in the price of the Aussie with test of the 4-100hr (around par) and possibly the trendline support before … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Gold Futures Fall As Market Digests European Summit

Posted: 11 Dec 2011 06:09 PM PST

Forexpros – Gold prices dropped Monday as markets digested the impact of Friday’s European decision to adopt greater fiscal integration and cooperation despite Britain’s refusal to go along with the rest of the 27-member European Union.

On the Comex division of the New York Mercantile Exchange, gold futures for February delivery traded at USD1,711.65 a troy ounce during Asian trading, down 0.29% although slightly firmer from a session low of 1,711.35 and comfortably below a session high of … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Gold’s Secular Bull Daily And Weekly Cycles

Posted: 11 Dec 2011 05:42 PM PST

I have been working on several projects involving writing script for use on the ThinkorSwim platform for weeks and weeks. Tonight I would like to post one of the projects that is completed.

This is a collage of 4 charts which very accurately identifies each of gold’s daily and weekly cycles since the inception of it’s secular bull market in February 2001. The small blue arrows point to each daily cycle low. The larger orange arrows identify the weekly (intermediate) cycle lows. Green dots … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Crude Oil Futures Ease As European, Chinese Optimism Relaxes

Posted: 11 Dec 2011 05:27 PM PST

Forexpros – Crude oil futures softened in early Asian trading Monday after shooting up on hopes that Europe is tackling its debt crisis.

Sentiment that Chinese and U.S. economies are poised to resume more robust growth bolstered crude as well.

On the New York Mercantile Exchange, light, sweet crude futures for delivery in January traded at USD99.16 a barrel, down 0.25%.

The commodity dipped to USD99.11 a barrel earlier in the session before climbing steadily, taking a breather after … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


British Pound / US Dollar – 12/12/2011 07:24 GMT

Posted: 11 Dec 2011 11:37 AM PST

By ForexMansion.com

British Pound / US Dollar

Weekly
Daily
Hourly

Trends

Resistances
1.578
1.5735
1.567

Supports
1.543
1.5525
1.5585

Our strategy

FLAT

About ForexMansion.com:

The Finance Mansion Network operates a global financial network of websites including
ForexMansion.com – All about Forex Trading.
Our goal is to provide our readers with the highest quality, most accurate and timely technical analyses,
fundamental analyses and news, assisting them to make … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Euro / British Pound – 12/12/2011 07:18 GMT

Posted: 11 Dec 2011 11:37 AM PST

By ForexMansion.com

Euro / British Pound

Weekly
Daily
Hourly

Trends

Resistances
0.861
0.858
0.855

Supports
0.8485
0.8495
0.8525

Our strategy

FLAT

About ForexMansion.com:

The Finance Mansion Network operates a global financial network of websites including
ForexMansion.com – All about Forex Trading.
Our goal is to provide our readers with the highest quality, most accurate and timely technical analyses,
fundamental analyses and news, assisting them to make the … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Euro / Swiss Franc – 12/12/2011 07:23 GMT

Posted: 11 Dec 2011 11:37 AM PST

By ForexMansion.com

Euro / Swiss Franc

Weekly
Daily
Hourly

Trends

Resistances
1.244
1.2405
1.238

Supports
1.225
1.2315
1.235

Our strategy

FLAT

About ForexMansion.com:

The Finance Mansion Network operates a global financial network of websites including
ForexMansion.com – All about Forex Trading.
Our goal is to provide our readers with the highest quality, most accurate and timely technical analyses,
fundamental analyses and news, assisting them to make the best … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Euro / Yen – 12/12/2011 07:17 GMT

Posted: 11 Dec 2011 11:37 AM PST

By ForexMansion.com

Euro / Yen

Weekly
Daily
Hourly

Trends

Resistances
104.5
103.95
103.7

Supports
102.5
103.1
103.35

Our strategy

FLAT

About ForexMansion.com:

The Finance Mansion Network operates a global financial network of websites including
ForexMansion.com – All about Forex Trading.
Our goal is to provide our readers with the highest quality, most accurate and timely technical analyses,
fundamental analyses and news, assisting them to make the best … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


US Dollar / Yen – 12/12/2011 07:25 GMT

Posted: 11 Dec 2011 11:37 AM PST

By ForexMansion.com

US Dollar / Yen

Weekly
Daily
Hourly

Trends

Resistances
78.1
77.8
77.65

Supports
77.1
77.45
77.55

Our strategy

FLAT

About ForexMansion.com:

The Finance Mansion Network operates a global financial network of websites including
ForexMansion.com – All about Forex Trading.
Our goal is to provide our readers with the highest quality, most accurate and timely technical analyses,
fundamental analyses and news, assisting them to make the best … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


US Dollar / Canadian Dollar – 12/12/2011 07:18 GMT

Posted: 11 Dec 2011 11:37 AM PST

By ForexMansion.com

US Dollar / Canadian Dollar

Weekly
Daily
Hourly

Trends

Resistances
1.036
1.026
1.0235

Supports
1.012
1.016
1.018

Our strategy

Entry
Stop
Target 1
Target 2

1.022
1.0185
1.027
1.0285

About ForexMansion.com:

The Finance Mansion Network operates a global financial network of websites including
ForexMansion.com – All about Forex Trading.
Our goal is to provide our readers with the highest quality, most accurate and timely technical … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Nasdaq 100 Short-Term Update

Posted: 11 Dec 2011 11:12 AM PST

By ForexMansion.com
Nasdaq 100: 2318.95
Short-Term Trend: sideways
Outlook:
Nasdaq was little changed as it traded sideways last week. First it tried to move higher, but the upside was limited (well below the key 2400/10 resistance level). Then, there was a decline on Wednesday and Thursday to 2278 but the market then recovered nicely on Friday. Overall, on the shorter-term time frames, this price action is constructive. But until we see a clear break on the 2400/10 resistance level, the daily … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


EUR/USD Short-Term Update

Posted: 11 Dec 2011 11:09 AM PST

By ForexMansion.com
EURUSD: 1.3384
Short-Term Trend: downtrend
Outlook:
EUR was little changed last week as it traded in a tight range between roughly 1.33 and 1.3450. As the prices remain below the declining 21-day moving average, the main trend is considered strong downtrend and further losses are still expected. I am a bit disappointed by the fact that there was no follow through selling last week, but still, the main focus remains down.
If a rally develops, it is expected to find resistance … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Potential Trade Set-ups For The Week Ahead (Dec 12)

Posted: 11 Dec 2011 11:03 AM PST

By ForexMansion.com
Despite some action on the FX market in the past week, provided by the ECB rate decision and EU summitmost of the major pairs remained trapped in a range, sideways market. As such, we decided to take look on some FX crosses, such as Eur/Chf  and Eur/Aud for potential trade set-ups. 
We will pay a very close action to Eur/Chf, which is forming a very nice clean triangle pattern from where we expect a bullish breakout in the coming week. We know that SNB will do … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Is The Eurozone Banking System About To Collapse?

Posted: 11 Dec 2011 12:45 AM PST

The Telegraph sounded alarm bells late Friday that the Eurozone banking system [is] on the edge of collapse. Specifically, the problem is related to a lack of acceptable collateral, or “collateral crunch”, for overnight and other short-term bank funding [emphasis added]:
Senior analysts and traders warned of impending bank failures as a summit intended to solve the European crisis failed to deliver a solution that eased concerns over bank funding.
 
The European Central Bank admitted … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


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