Tuesday, January 10, 2012

DailyMarkets.com - Forex – EUR/GBP Ticks Higher But Gains Limited

DailyMarkets.com - Forex – EUR/GBP Ticks Higher But Gains Limited


Forex – EUR/GBP Ticks Higher But Gains Limited

Posted: 10 Jan 2012 02:48 AM PST

Forexpros – The euro ticked higher against the pound on Tuesday, but gains were limited as sentiment on the single currency remained fragile as concerns over the ongoing sovereign debt crisis in the euro zone weighed.

EUR/GBP hit 0.8278 during European morning trade, the daily high; the pair subsequently consolidated at 0.8275, gaining 0.23%.

The pair was likely to find support at 0.8221, Monday's low and a 16-month low and short-term resistance at 0.8288, last Thursday's high.

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


Copper Gains After China Imports Surge, EU Debt Talks In Focus

Posted: 10 Jan 2012 02:23 AM PST

Forexpros – Copper futures rose to a three-day high on Tuesday, boosted by data showing copper imports from top consumer China rose to a record in December as markets continued to monitor developments surrounding the euro zone's debt crisis.

On the Comex division of the New York Mercantile Exchange, copper futures for March delivery traded at USD3.461 a pound during European morning trade, rallying 1.35%.

It earlier rose by as much as 1.5% to trade at USD3.466 a pound, the highest since … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Forex – Dollar Slides But Investors Remain Jittery

Posted: 10 Jan 2012 01:53 AM PST

Forexpros – The U.S. dollar was lower against all of its major counterparts on Tuesday, but losses were limited as concerns over the sovereign debt crisis in the euro zone kept markets on edge.

During European morning trade, the dollar was lower against the euro, with EUR/USD adding 0.23% to hit 1.2795.

The euro found support ahead of a meeting between German Chancellor Angela Merkel and International Monetary Fund President Christine Lagarde later in the day to discuss Greece's … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


European Stocks Higher On Debt Hopes; DAX Jumps 1.40%

Posted: 10 Jan 2012 01:24 AM PST

Forexpros – European stock markets were sharply higher on Tuesday, as investors focused on a meeting between German Chancellor Angela Merkel and International Monetary Fund President Christine Lagarde later in the day.

During European morning trade, the EURO STOXX 50 surged 1.40%, France's CAC 40 advanced 0.89%, while Germany's DAX 30 jumped 1.11%.

Angela Merkel warned Greece on Monday that it would not be possible to give further financial aid without swift progress on its second … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Crude Oil, Gold Aim Higher As Risky Assets Rise And US Dollar Weakens

Posted: 10 Jan 2012 01:13 AM PST

Talking Points

Crude Oil Set to Follow Stocks Higher Amid Risk Appetite Recovery
Gold Aiming Higher as Dollar Slumps on Falling Safe Haven Demand

WTI Crude Oil (NY Close): $101.31 // -0.25 // -0.25%
European shares are pushing higher in early trade and S&P 500 stock index futures are firmly in positive territory, pointing to a broad-based recovery in risk appetite that bodes well for growth-sensitive commodities including crude oil. The apparent turn in sentiment likely owes to … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Crude Oil Above USD102 On EU Hopes, Iran, Nigeria Supply Fears

Posted: 10 Jan 2012 01:07 AM PST

Forexpros – Crude oil futures rose to a two-day high on Tuesday, as concerns over a disruption to global oil supplies supported prices as investors turned to a meeting between German Chancellor Angela Merkel and International Monetary Fund President Christine Lagarde later in the day.

On the New York Mercantile Exchange, light, sweet crude futures for delivery in February traded at USD102.56 a barrel during European morning trade, rallying 1.25%.

It earlier rose by as much as 1.35% to trade … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Forex – GBP/USD Steady Amid E.Z. Uncertainty

Posted: 10 Jan 2012 12:48 AM PST

Forexpros – The pound was steady against the U.S. dollar on Tuesday, swinging between small gains and losses as investors turned to a meeting between German Chancellor Angela Merkel and International Monetary Fund President Christine Lagarde.

GBP/USD hit 1.5447 during European morning trade, the daily low; the pair subsequently consolidated at 1.5452, easing 0.03%.

Cable was likely to find support at 1.5395, the low of January 9 and resistance at 1.5525, the high of January 6.

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


Gold Futures Advance Ahead Of Merkel-Lagarde Meeting

Posted: 10 Jan 2012 12:35 AM PST

Forexpros – Gold futures gained on Tuesday, as traders continued to monitor developments surrounding the euro zone's debt crisis, with focus on a meeting between German Chancellor Angela Merkel and International Monetary Fund President Christine Lagarde later in the day.

On the Comex division of the New York Mercantile Exchange, gold futures for February delivery traded at USD1,620.65 a troy ounce during early European morning trade, gaining 0.78%.

It earlier rose by as much as 0.9% to … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Forex – USD/JPY Almost Unchanged, E.Z. Talks In Focus

Posted: 10 Jan 2012 12:26 AM PST

Forexpros – The U.S. dollar was almost unchanged against the yen on Tuesday, as markets eyed a key meeting between German Chancellor Angela Merkel and International Monetary Fund President Christine Lagarde later in the day.

USD/JPY hit 76.91 during early European trade, the daily high; the pair subsequently consolidated at 76.86, inching up 0.02%.

The pair was likely to find support at 76.64, the low of January 5 and resistance at 77, the high of January 2.

After meeting with French … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Forex – AUD/USD Higher As Markets Eye Merkel, Lagarde Talks

Posted: 10 Jan 2012 12:09 AM PST

Forexpros – The Australian dollar was sharply higher against its U.S. counterpart on Tuesday, amid high hopes of progress in the euro zone ahead of a meeting between German Chancellor Angela Merkel and International Monetary Fund President Christine Lagarde.

AUD/USD hit 1.0323 during late Asian trade, the pair's highest since January 5; the pair subsequently consolidated at 1.0286, gaining 0.45%.

The pair was likely to find support at 1.0201, the low of January 6 and resistance at 1.0371, … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Chinese Trade Surplus Widens Unexpectedly In December

Posted: 09 Jan 2012 11:59 PM PST

Forexpros – China’s trade surplus widened unexpectedly in December, as import growth slowed significantly, official data showed on Tuesday.

In a report, the Customs General Administration of China said the nation's trade surplus widened to USD16.5 billion in December from USD14.5 in the previous month.

Economists had expected the trade surplus to narrow to USD8.5 billion in December.

The report said that exports rose by 13.4% in November from a year earlier, slowing from 13.8% in … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Forex – NZD/USD Rises To 2-month High On Euro Zone Hopes

Posted: 09 Jan 2012 11:59 PM PST

Forexpros – The New Zealand dollar rose to a two-month high against its U.S. counterpart on Tuesday, as market sentiment improved ahead of a meeting between German Chancellor Angela Merkel and International Monetary Fund President Christine Lagarde later in the day.

NZD/USD hit 0.7944 during late Asian trade, the pair's highest since November 9; the pair subsequently consolidated at 0.7925, climbing 0.67%.

The pair was likely to find support at 0.7792, the low of January 5 and resistance … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Asia Stocks Higher On EU, China Easing Hopes; Nikkei Up 0.4%

Posted: 09 Jan 2012 11:48 PM PST

Forexpros – Asian stock markets were broadly higher on Tuesday, as renewed optimism European leaders will increase efforts to resolve the region's ongoing debt crisis and speculation of near-term monetary easing in China boosted appetite for riskier assets.

During late Asian trade, Hong Kong’s Hang Seng Index climbed 1% Australia's S&P/ASX200 rallied 1.15%, while Japan's Nikkei 225 Index returned from a three-day weekend to trade 0.4% higher.

Following a meeting with French … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Forex – EUR/USD Edges Higher As Merkel, Lagarde Meeting Eyed

Posted: 09 Jan 2012 11:33 PM PST

Forexpros – The euro edged higher against the U.S. dollar on Tuesday, as markets eyed a meeting between German Chancellor Angela Merkel and International Monetary Fund President Christine Lagarde later in the day to discuss Greece's bailout.

EUR/USD hit 1.2797 during late Asian trade, the daily high; the pair subsequently consolidated at 1.2784, rising 0.15%.

The pair was likely to find support at 1.2665, Monday's low and a 16-month trough and resistance at 1.2891, the high of September … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Australia Building Approvals Rise More-than-expected

Posted: 09 Jan 2012 11:20 PM PST

Forexpros – The number of new building approvals issued in Australia rose more-than-expected in November, official data showed on Tuesday.

In a report, the Australian Bureau of Statistics said new building approvals issued surged by a seasonally adjusted 8.4% in November, easily surpassing expectations for a 6.0% increase.

The previous month's figure was revised to a drop of 10.0% from a previously reported 10.7% decline.

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


Bear Of The Day: ICICI Bank Ltd.

Posted: 09 Jan 2012 11:05 PM PST

We are downgrading our recommendation on ICICI Bank Ltd. (NYSE:IBN) to Underperform primarily on rising operating expenses. Net earnings for the second quarter of fiscal 2012 increased, but a substantial increase in operating expenses was the headwind.
We anticipate continued synergies from the company’s increased dependence on domestic loans, an almost stable funding base and market leadership in the insurance business. However, we are concerned about ICICI’s highly competitive operating … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Aggressive Growth Stock: DXP Enterprises, Inc.

Posted: 09 Jan 2012 11:05 PM PST

DXP Enterprises, Inc. (DXPE) consistently beats the Zacks Consensus Earnings Estimate and is seeing estimates increase for the current quarter.
Company Description
Houston, TX-based DXP Enterprises is a distributor of pumps, bearings, and general MRO supplies. The firm also offers higher value-added services, such as integrated supply and fabrication/assembly of pump, hydraulic, and gear systems and components. Its customer base is primarily North American through ~165 sites. Markets served … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Bull Of The Day: SM Energy Co. (SM)

Posted: 09 Jan 2012 11:05 PM PST

We believe that SM Energy Company’s (NYSE:SM) emerging core portfolio is a catalyst for visible organic growth over the next several years. The company’s earnings in the third quarter more than doubled from the prior-year, buoyed by higher operating income, increased production and recognition of a gain on divestiture activity.
The company’s Eagle Ford and Bakken assets are key drivers of liquids growth. SM Energy has significant leasehold positions in the leading U.S. shale plays, including the … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Momentum Stock: MagicJack (VocalTec Ltd)

Posted: 09 Jan 2012 11:05 PM PST

MagicJack(CALL)sold over 365,000 of its new MagicJack Plus devices between November 20th and December 20th.  They are estimating 4q sales to come in around 55-60 million units, which would make for a very strong quarter.  They also recently cancelled a secondary stock issue, which tends to be bullish as offerings dilute the existing shares.  In addition, MagicJack also recently announced a share buy-back program.
If you have an appetite for a more volatile stock, CALL may one to … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Growth & Income Stock: Corn Products International, Inc.

Posted: 09 Jan 2012 11:05 PM PST

Despite negative press here in the United States, corn sweeteners have become very popular among the booming middle classes of the emerging markets. That is good news for Corn Products International, Inc. (NYSE:CPO), a leading corn refiner.
Despite the recent volatility in its share price, consensus estimates have risen steadily over the last several months. It is a Zacks #1 Rank (Strong Buy) stock.
The valuation picture looks attractive with shares trading at just 10x forward earnings. The … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Forex – USD/CHF Falls On Hildebrand Resignation

Posted: 09 Jan 2012 07:32 PM PST

Forexpros – The Swiss franc firmed against the dollar Tuesday in wake of Philippe Hildebrand’s resignation as head of the Swiss Central Bank, as relief swept over markets that policies he put in place will likely stay.

USD/CHF hit 0.9488 Tuesday in Asian trading, down 0.09%, up from a session low of 0.9474 and off from a high of 0.9500.

The pair was likely to find support at 0.9474, Tuesday’s earlier low, and resistance at 0.9584, Monday’s high.

Hildebrand resigned as chairman of the Swiss … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Let The Market Decide: Kodak And Post Office

Posted: 09 Jan 2012 07:31 PM PST

Thomas Sowell on why the market should decide on the fate of the Post Office, just as it has decided the fate of Kodak, Montgomery Wards, Studebaker, Eastern Airlines, etc.  

“Just as Kodak’s technology made older modes of photography obsolete more than a hundred years ago, so the new technology of the digital age has left Kodak behind. Great names of companies in other fields have likewise vanished as new technology brought new rivals to the forefront, or else made the whole product … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


“Duncan Niederauer And 5 Guys Named Vinny”

Posted: 09 Jan 2012 07:09 PM PST

I had to chuckle yesterday morning when reading a comment that came in regarding my recent commentary on high frequency trading.

Eddie wrote,
Hi,
Plain and simple for years I was taught it was not only unethical but illegal to intentionally manipulate stock prices. The only intention of HFT is to do just this.
Joe and Sal are correct when they say the people that are supposed to regulate this behavior are now in their pocket. For years the NYSE protected the Specialists and the public was … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Forex – Dollar Falls As Euro Takes Center Stage

Posted: 09 Jan 2012 07:09 PM PST

Forexpros – The dollar slid against major currencies Tuesday as the euro came into demand amid short-covering and on renewed commitments from the continent’s leadership to confront and defeat its debt crisis.

The greenback on Monday was down against the euro, with EUR/USD rising 0.05% to hit 1.2772.

The euro took a beating in recent months although investors took long positions in the currency on Tuesday to cover previous short positions, which sent the unit rising.

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


Welcome To The U.S. Manufacturing Renaissance

Posted: 09 Jan 2012 06:42 PM PST

Business Insider — “Investment Bank Jeffries’ Chief Equity Strategist Sean Darby predicts a U.S. industrial renaissance “through a combination of higher wage inflation overseas, a weaker U.S. dollar and better productivity gains.”

The most important factor in U.S. competitiveness may be a decline in Chinese competitiveness:
The labor comparative gap that China has had has disappeared because the total costs of production for certain products have moved towards US costs. This is particular … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Asia Stocks Up On U.S. Data; Nikkei Gains 0.42%

Posted: 09 Jan 2012 06:41 PM PST

Forexpros – Asian stock markets rose on Tuesday as Japan emerged from a Monday holiday to trade on better-than-expected U.S. jobs data that broke last Friday.

Reports that European leaders remain united in keeping the currency zone intact also bolstered Asian equities markets.

During early Asian trading Tuesday, Hong Kong’s Hang Seng Index was up 0.37%, Australia’s S&P/ASX200 was up 0.95%, while Japan's Nikkei 225 Index was up 0.42%.

In the U.S. on Friday, the Labor Department … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Crude Oil Gains As Sell-off Comes To An End

Posted: 09 Jan 2012 06:00 PM PST

Forexpros – Crude futures eased up on earlier losses Tuesday, climbing a bit and settling into a comfortable trading pattern after weak German industrial output figures and waning Iranian threats to close the Strait of Hormuz sent prices falling.

On the New York Mercantile Exchange, light, sweet crude futures for delivery in February traded at USD101.55 a barrel in U.S. trading, up 0.24%.

The commodity hit a session high of USD101.63 and a low of USD101.25.

Oil markets have grown weary … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Gold Reverses Earlier Losses As Dollar Demand Cools

Posted: 09 Jan 2012 05:05 PM PST

Forexpros – Gold prices rose Tuesday, erasing losses posted in U.S. and European sessions as investors snapped up positions in the precious metal as the dollar, gold’s traditional hedge, eased up a bit on prior gains.

On the Comex division of the New York Mercantile Exchange, gold futures for February delivery traded at USD1,613.85 a troy ounce, up 0.36%.

Gold futures were likely to test support at USD1,597.75 a troy ounce, Thursday’s low, and resistance at USD1,632.15, Friday’s high.

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


Euro / Swiss Franc – 10/01/2012 07:17 GMT

Posted: 09 Jan 2012 11:36 AM PST

By ForexMansion.com

Euro / Swiss Franc

Weekly
Daily
Hourly

Trends

Resistances
1.2195
1.216
1.212

Supports
1.202
1.209
1.2105

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 / Canadian Dollar – 10/01/2012 07:05 GMT

Posted: 09 Jan 2012 11:36 AM PST

By ForexMansion.com

Euro / Canadian Dollar

Weekly
Daily
Hourly

Trends

Resistances
1.314
1.308
1.3045

Supports
1.2955
1.2985
1.301

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 / British Pound – 10/01/2012 07:15 GMT

Posted: 09 Jan 2012 11:36 AM PST

By ForexMansion.com

Euro / British Pound

Weekly
Daily
Hourly

Trends

Resistances
0.8325
0.829
0.827

Supports
0.822
0.8235
0.8245

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


British Pound / US Dollar – 10/01/2012 07:21 GMT

Posted: 09 Jan 2012 11:36 AM PST

By ForexMansion.com

British Pound / US Dollar

Weekly
Daily
Hourly

Trends

Resistances
1.558
1.5525
1.5485

Supports
1.536
1.5395
1.542

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 / US Dollar – 10/01/2012 07:22 GMT

Posted: 09 Jan 2012 11:36 AM PST

By ForexMansion.com

Euro / US Dollar

Weekly
Daily
Hourly

Trends

Resistances
1.2905
1.285
1.2815

Supports
1.2665
1.272
1.276

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 – 10/01/2012 07:14 GMT

Posted: 09 Jan 2012 11:36 AM PST

By ForexMansion.com

Euro / Yen

Weekly
Daily
Hourly

Trends

Resistances
99.35
98.8
98.25

Supports
97
97.3
97.8

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


US Dollar / Canadian Dollar – 10/01/2012 07:15 GMT

Posted: 09 Jan 2012 11:36 AM PST

By ForexMansion.com

US Dollar / Canadian Dollar

Weekly
Daily
Hourly

Trends

Resistances
1.0275
1.0245
1.0215

Supports
1.0115
1.016
1.0185

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


Australian Dollar / US Dollar – 10/01/2012 07:16 GMT

Posted: 09 Jan 2012 11:36 AM PST

By ForexMansion.com

Australian dollar / US Dollar

Weekly
Daily
Hourly

Trends

Resistances
1.037
1.034
1.0325

Supports
1.02
1.0235
1.0275

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


US Dollar / Yen – 10/01/2012 07:21 GMT

Posted: 09 Jan 2012 11:36 AM PST

By ForexMansion.com

US Dollar / Yen

Weekly
Daily
Hourly

Trends

Resistances
77.25
77
76.9

Supports
76.5
76.6
76.75

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


US Dollar / Swiss Franc – 10/01/2012 07:18 GMT

Posted: 09 Jan 2012 11:36 AM PST

By ForexMansion.com

US Dollar / Swiss Franc

Weekly
Daily
Hourly

Trends

Resistances
0.9595
0.954
0.949

Supports
0.9375
0.9415
0.946

Our strategy

Entry
Stop
Target 1
Target 2

0.9475
0.945
0.9525
0.9545

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


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