Wednesday, December 14, 2011

DailyMarkets.com - Forex Trading: Eurozone Industrial Production Falls 0.1% From Prior Month

DailyMarkets.com - Forex Trading: Eurozone Industrial Production Falls 0.1% From Prior Month

Forex Trading: Eurozone Industrial Production Falls 0.1% From Prior Month

Posted: 14 Dec 2011 03:37 AM PST

A gain of  0.1% was expected. Eur/Usd has declined steadily since news, seemingly primed to make another run at 1.3000.
The pair currently trades at … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – EUR/GBP Lower After Italian Bond Sale

Posted: 14 Dec 2011 02:53 AM PST

Forexpros – The euro was trading close to a ten-month low against the pound on Wednesday, as Italian borrowing costs remained close to unsustainable levels following a government bond auction.

EUR/GBP hit 0.8392 during European morning trade, the pair's lowest since February 22; the pair subsequently consolidated at 0.8406, shedding 0.18%.

The pair was likely to find support at 0.8358, the low of February 18 and resistance at 0.8459, the high of February 14.

Market sentiment has been hit … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – USD/CHF Close To 10-month High On Risk Aversion

Posted: 14 Dec 2011 02:36 AM PST

Forexpros – The U.S. dollar was trading close to a 10-month high against the Swiss franc on Wednesday, as concerns over the ongoing debt crisis in the euro zone supported safe haven demand.

USD/CHF hit 0.9478 during European morning trade, the pair's highest since February 22; the pair subsequently consolidated at 0.9467, easing up 0.14%

The pair was likely to find support 0.9314, Tuesday's low and resistance at 0.9601, the high of February 17.

Market sentiment has been hit in recent … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Swiss ZEW Economic Expectations Deteriorate

Posted: 14 Dec 2011 02:12 AM PST

Forexpros – Economic sentiment in Switzerland deteriorated for the second consecutive month in December, as Europe's ongoing sovereign debt crisis continued to weigh on sentiment, data showed on Wednesday.

In a report, the Centre for European Economic Research (ZEW) said its indicator of economic sentiment fell by 7.7 points to minus 72.0 in December from a reading of minus 64.3 in November.

A reading above 0.0 on the indicator indicates optimism, while a score below 0.0 indicates … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Copper Drops To 2-week Low On Fed, China Slowdown Fears

Posted: 14 Dec 2011 02:06 AM PST

Forexpros – Copper futures were down sharply for the third consecutive day on Wednesday, trading at a two-week low after the Federal Reserve refrained from signaling another round of quantitative easing, while concerns over a 'hard landing' in China also weighed.

On the Comex division of the New York Mercantile Exchange, copper futures for March delivery traded at USD3.401 a pound during European morning trade, tumbling 1.15%.

It earlier fell by as much as 1.35% to trade at USD3.381 a … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Euro Zone Industrial Production Declines In October

Posted: 14 Dec 2011 02:05 AM PST

Forexpros – Industrial production in the euro zone declined unexpectedly in October, falling for the second consecutive month, official data showed on Wednesday.

In a report, Eurostat, the European statistics agency said industrial production fell by a seasonally adjusted 0.1% in October, confounding expectations for a 0.1% increase.

Industrial production dropped by an unrevised 2.0% in September.

Year-on-year, industrial production rose at an annualized rate of 1.3% in October, after … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – Dollar Mixed On Lack Of Fed Stimulus

Posted: 14 Dec 2011 01:41 AM PST

Forexpros – The U.S. dollar was mixed to modestly lower against its major counterparts on Wednesday, as investors remained cautious after the Federal Reserve's latest policy meeting and ahead of Italian and German bond auctions.

During European morning trade, the dollar was fractionally lower against the euro, with EUR/USD edging up 0.01% to hit 1.3039.

Market sentiment was hit after the Fed noted modest improvement in the U.S. economy but added that market turbulence in the face of … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

U.K. Claimant Count Change Rises Less-than-expected

Posted: 14 Dec 2011 01:39 AM PST

Forexpros – The number of people claiming unemployment benefits in the U.K. rose significantly less-than-expected in November, while the unemployment rate remained at the highest level since 1996, official data showed on Wednesday.

In a report, the U.K. Office for National Statistics said that the claimant count rose by a seasonally adjusted 3,000 in November, significantly below expectations for an increase of 17,000.

The previous month's figure was revised down to a gain of 2,500 from a … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

European Stocks Fall On Fed Statement; DAX Down 0.73%

Posted: 14 Dec 2011 01:24 AM PST

Forexpros – European stock markets were sharply lower on Wednesday, as market sentiment weakened after the Federal Reserve held back from taking any new steps to stimulate growth.

During European morning trade, the EURO STOXX 50 retreated 0.68%, France's CAC 40 declined 1%, while Germany's DAX 30 fell 0.73%.

At its final policy meeting of the year on Tuesday, the Fed noted modest improvement in the U.S. economy but added that market turbulence in the face of Europe’s debt woes posed a … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Crude Oil Drops Below USD100 Ahead Of OPEC Meetings

Posted: 14 Dec 2011 01:12 AM PST

Forexpros – Crude oil futures edged lower on Wednesday, trading below USD100-a-barrel as markets awaited the outcome of a meeting of the Organization of Petroleum Exporting Countries in Vienna, as well as key U.S. inventory data.

On the New York Mercantile Exchange, light, sweet crude futures for delivery in January traded at USD99.83 a barrel during European morning trade, edging 0.3% lower.

It earlier fell by as much as 0.45% to trade at a daily low of USD99.63 a barrel.

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

Forex – GBP/USD Higher But Gains Limited

Posted: 14 Dec 2011 12:47 AM PST

Forexpros – The pound was higher against the U.S. dollar on Wednesday, but gains were limited as investors remained cautious after the Federal Reserve's latest policy meeting and ahead of Italian and German bond auctions.

GBP/USD hit 1.5525 during European morning trade, the daily high; the pair subsequently consolidated at 1.5502, adding 0.17%.

Cable was likely to find support at 1.5423, the low of November 25 and resistance at 1.5628, Tuesday's high.

At its final policy meeting of … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Gold Futures Trade At 8-week Low In Wake Of Fed Meeting

Posted: 14 Dec 2011 12:35 AM PST

Forexpros – Gold futures extended sharp losses from the previous session on Wednesday, trading close to the lowest level in eight weeks after the Federal Reserve refrained from signaling another round of quantitative easing, dampening the appeal of the precious metal.

On the Comex division of the New York Mercantile Exchange, gold futures for February delivery traded at USD1,639.75 a troy ounce during early European morning trade, tumbling 1.4%.

It earlier fell by as much as 1.75% to trade … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – USD/JPY Edges Higher As Market Sentiment Wanes

Posted: 14 Dec 2011 12:25 AM PST

Forexpros – The U.S. dollar edged higher against the yen on Wednesday, as a decision by the Federal Reserve not to increase the size of its stimulus program supported demand for safe haven assets.

USD/JPY hit 78.05 during early European trade, the pair's highest since December 5; the pair subsequently consolidated 78.02, inching up 0.03%.

The pair was likely to find support at 77.68, the low of December 5 and resistance at 78.27, the high of November 29.

At its final policy meeting of … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Swiss PPI Declines More-than-expected In November

Posted: 14 Dec 2011 12:24 AM PST

Forexpros – Switzerland’s producer price index declined more-than-expected in November, official data showed on Wednesday.

The Swiss Federal Statistical Office said its producer price index declined by a seasonally adjusted 0.8% in November, after declining by 0.2% in October.

Analysts had expected Swiss PPI to ease by 0.2% in November.

Year-over-year, the producer price index fell at an annualized rate of 2.4% in November, compared to analyst expectations for a 1.8% decline, after … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – NZD/USD Lower After Fed Statement

Posted: 14 Dec 2011 12:11 AM PST

Forexpros – The New Zealand dollar was lower against its U.S. counterpart on Wednesday, as risk sentiment weakened after the Federal Reserve held back from implementing new stimulus measures.

NZD/USD hit 0.7542 during late Asian trade, the pair's lowest since November 29; the pair subsequently consolidated at 0.7548, shedding 0.25%.

The pair was likely to find support at 0.7478, the low of November 28 and resistance at 0.7673, the high of December 13.

At its final policy meeting of the … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Central Bank Of Chile Maintains Policy Rate At 5.25%

Posted: 14 Dec 2011 12:07 AM PST

The Banco Central de Chile held its monetary policy interest rate unchanged at 5.25%.  The Bank noted: “Domestically, economic activity has evolved somewhat below projections, while domestic demand is still strong. Labor market conditions continue to be tight. Financial conditions are somewhat more constrained, reflecting the situation in global markets. Headline inflation has exceeded expectations somewhat, due to the incidence of fuels and foodstuffs. Core inflation figures … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – AUD/USD Edges Lower After Fed Meeting

Posted: 13 Dec 2011 11:59 PM PST

Forexpros – The Australian dollar edged lower against its U.S. counterpart on Wednesday, as market sentiment waned after the Federal Reserve held back from taking new stimulus steps.

AUD/USD hit 0.9984 during late Asian trade, the daily low; the pair subsequently consolidated at 1.0003, retreating 0.12%.

The pair was likely to find support at 0.9862, the low of November 29 and resistance at 1.0161, Tuesday's high.

At its final policy meeting of the year, the Fed noted modest improvement … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

US FOMC Maintains Policy, Rate Unchanged At 0-0.25%

Posted: 13 Dec 2011 11:55 PM PST

The US Federal Open Market Committee (FOMC) held the fed funds rate unchanged at 0 to 0.25 percent, and made no other changes to its policy. The Fed said: “To support a stronger economic recovery and to help ensure that inflation, over time, is at levels consistent with the dual mandate, the Committee decided today to continue its program to extend the average maturity of its holdings of securities as announced in September. The Committee is maintaining its existing policies of … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Asia Stocks Slump After Fed; Nikkei Dips 0.4%

Posted: 13 Dec 2011 11:49 PM PST

Forexpros – Asian stock markets declined on Wednesday, after the Federal Reserve left rates unchanged and declined to signal another round of quantitative easing, dampening demand for riskier assets.

During late Asian trade, Hong Kong’s Hang Seng Index slumped 0.25%, Australia's S&P/ASX200 dipped 0.15%, while Japan's Nikkei 225 Index fell 0.4%.

At its latest monetary policy meeting, the Fed said that the U.S. economy "has been expanding moderately," despite slowing in global … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – EUR/USD At 11-month Low With Italian Debt Sale Ahead

Posted: 13 Dec 2011 11:32 PM PST

Forexpros – The euro was flat against the U.S. dollar on Wednesday, trading close to its lowest level in 11 months, after declining sharply the previous day when the Federal Reserve held back from increasing the size of its stimulus program.

EUR/USD hit 1.3016 during late Asian trade, the daily low; the pair subsequently consolidated at 1.3034, inching down 0.01%.

The pair was likely to find short-term support at 1.3008, Tuesday's low and an 11-month low and resistance at 1.3144, the high … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Bull Of The Day: Celanese Corporation (CE)

Posted: 13 Dec 2011 11:00 PM PST

Celanese Corporation (NYSE:CE) reported adjusted earnings of $1.27 per share for the third quarter of 2011, beating the Zacks Consensus Estimate of $1.11. Quarterly revenues grew 20% year over year to $1.81 billion, primarily driven by higher pricing across all operating segments and favorable currency impacts. The results surpassed the Zacks Consensus Estimate of $1.69 billion.
Celanese raised its full-year 2011 outlook, encouraged by the strength of its third-quarter 2011 performance, its … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Bear Of The Day: China Life Insurance

Posted: 13 Dec 2011 11:00 PM PST

China Life Insurance’s (NYSE:LFC) third-quarter earnings witnessed a steep decline from the comparable period of last year. High surrenders, low premium income and increased impairment losses led to a decline in the net income, while increased unrealized losses in the investment portfolio led to reduced shareholders equity.
Additionally, China Life inherently faces substantial interest rate, market and currency risk. Although the company has a strong brand name, it has to deal with considerable … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Momentum Stock: Home Shopping Network, Inc.

Posted: 13 Dec 2011 11:00 PM PST

Home Shopping Network, Inc. (HSNI) just jumped into a new all-time high, fueled by another strong quarter that included a 21% earnings surprise. With a high industry rank and bullish growth projection, this Zacks #1 rank stock is hopped up with momentum.
Company Description
HSN, Inc. markets and sells a range of third-party and private label merchandise primarily in the United States. The company was founded in 1981 and has a market cap of $2.16 billion.
HSNI has been solid in 2011, recently … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Growth & Income Stock: Crane Co.

Posted: 13 Dec 2011 11:00 PM PST

Crane Co. (CO) recently delivered its 7th consecutive positive earnings surprise on 18% sales growth and an expanding operating margin. Analysts raised their estimates following strong third quarter results, sending the stock to a Zacks #2 Rank (Buy).
Based on consensus estimates, analysts project 31% EPS growth for Crane this year and 14% growth next year. On top of this, the company pays a dividend that yields 2.2%.
Company Description
Crane Co. manufactures highly engineered industrial … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Aggressive Growth Stock: Titan Machinery, Inc.

Posted: 13 Dec 2011 11:00 PM PST

Titan Machinery Inc. (NASDAQ:TITN) has given investors plenty to sink their teeth into with its earnings report last week. Revenues and earnings were up, pushing estimates higher and valuations are looking great. So why aren’t investors scooping up shares?
Company Description
Titan Machinery owns several agricultural and construction equipment stores predominantly in the U.S., but does have 2 dealerships in Romania.
Beat Estimates
On Dec 9 Titan reported fiscal 2012 third-quarter results that showed … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – EUR/JPY Slides On Downgrade Fears, German Comments

Posted: 13 Dec 2011 08:07 PM PST

Forexpros – The euro was down against the yen Wednesday in mid-session Asian trading on residual fears that downgrades were possible in even the healthiest of European countries.

Furthermore, comments out of Germany that Chancellor Angela Merkel’s government opposes increasing the size of a key bailout fund scheduled to begin operations next year bruised the euro even more.

EUR/JPY hit 101.62, down 0.09% in Asian trading.

The pair was likely to find support at 101.47, Tuesday’s low, and … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

In Butter-Crazed Norway: Empty Shelves, Shortages

Posted: 13 Dec 2011 07:55 PM PST

As a result of the perfect storm of: a) a craze for a popular “fat-rich, low-carb” weight-loss diet, b)  a shortage of animal feed that caused a drop in milk production, c) a butter monopoly that controls 90 per cent of the butter supply and d) is protected from foreign competition by trade barriers that prohibit imports from European countries, there is now a butter shortage in Norway as the festive baking season approaches.  

According to this news report “Supermarket shelves in … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Asia Stocks Mixed On Fed Apathy; Nikkei Down 0.54%

Posted: 13 Dec 2011 07:36 PM PST

Forexpros – Asian stock markets were mixed in early Wednesday trading, as the Federal Reserve said it would hold off on unleashing fresh monetary easing measures in the U.S., which would have bolstered equities prices worldwide.

During morning Asian trading, Hong Kong’s Hang Seng Index was down 0.23%, Australia’s S&P/ASX200 was moving up 0.11%, while Japan's Nikkei 225 Index fell 0.48%.

At its latest monetary policy meeting, the Federal Reserve said it saw no need for changes to … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex Trading: USDCNH 100day / 38.2%

Posted: 13 Dec 2011 07:32 PM PST

The USDCNH pair is pressing up against the 38.2% retracement of the latest move (and the 100 day moving average right above), a break on this test could be possible in 2011 as the China's economy and subsequently there market continues its downward spiral. A test of the developing channel would follow and even perhaps revisiting of the 200 … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – Dollar Firms On Federal Reserve Hints Of No Policy Changes

Posted: 13 Dec 2011 07:01 PM PST

Forexpros – The dollar firmed in Asian trading Wednesday after the Federal Reserve dismissed the possibility of fresh monetary easing, which would have weakened the dollar with the aim of injecting liquidity into the financial system to pump up the economy.

Meanwhile, reports out of Germany that Chancellor Angela Merkel’s government opposes strengthening a bailout fund fueled the flight to the safe and liquid greenback as well.

In 2012, a EUR500 billion European Stability Mechanism will … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex Trading: USD/CNH Testing Hourly Trend Line Support Around 6.3759

Posted: 13 Dec 2011 06:33 PM PST

The USD rallied during the New York session today as fears continue to mount in Europe. In recent trade the USD/CNH has found upward trend line support around 6.3759 with the 200 hour moving average coming in just below. With some selling being seen, the downward target is the trend line around 6.3782; bullish target at … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Gold Futures Tank As Flight To Dollar Continues

Posted: 13 Dec 2011 06:03 PM PST

Forexpros – Gold prices were down in early Asian trading Wednesday as investors sold the precious metal and took up positions in assets denominated in the dollar, the yellow metal’s traditional hedge.

On the Comex division of the New York Mercantile Exchange, gold futures for February delivery traded at USD1,637.05 a troy ounce, down 1.57%.

Gold futures were likely to find short-term support at USD1,625.25 a troy ounce, Tuesday’s low, and resistance at USD1,681.55, Tuesday’s high.

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

Crude Oil Futures Ease After Iranian Threats Spark Rally

Posted: 13 Dec 2011 05:32 PM PST

Forexpros – Talk out of Iran that the oil-rich country may disrupt operations in a key supply waterway sent crude oil futures rising worldwide Wednesday to the point they tempered in Asian trading after breaking the USD100 per-barrel mark.

On the New York Mercantile Exchange, light, sweet crude futures for delivery in January traded at USD99.88 a barrel in early Asian trading, down 0.26%, taking a breather after the earlier rally.

The commodity hit a session high of USD100.37 and a low of … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards
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