Wednesday, January 18, 2012

DailyMarkets.com - Forex – USD/CHF Lower As Market Sentiment Firms Up

DailyMarkets.com - Forex – USD/CHF Lower As Market Sentiment Firms Up


Forex – USD/CHF Lower As Market Sentiment Firms Up

Posted: 18 Jan 2012 02:21 AM PST

Forexpros – The U.S. dollar was lower against the Swiss franc on Wednesday, as market sentiment strengthened on the back of expectations that China will ease monetary policy, but uncertainty over the ongoing debt crisis in the euro zone lingered.

USD/CHF 0.9437 during European morning trade, the pair's lowest since January 13; the pair subsequently consolidated at 0.9421, shedding 0.82%.

The pair was likely to find support at 0.9320, the low of December 28 and resistance at 0.9545, the … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Forex – Dollar Broadly Lower But Investors Remain Jittery

Posted: 18 Jan 2012 02:06 AM PST

Forexpros – The U.S. dollar was broadly lower against its major counterparts on Wednesday, as reports that China looked set to ease monetary policy supported risk appetite but investors remained jittery after Fitch's flagged a possible ratings downgrade for Italy.

During European afternoon trade, the dollar was lower against the euro, with EUR/USD rising 0.44% to hit 1.2791.

The euro briefly trimmed gains earlier after Fitch's warned that Italy could face a two-notch downgrade. The … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Swiss ZEW Economic Expectations Improve To 7-month High

Posted: 18 Jan 2012 02:06 AM PST

Forexpros – Economic sentiment in Switzerland improved significantly in January, rising to the highest level since June 2011, data showed on Wednesday.

In a report, the Centre for European Economic Research (ZEW) said its indicator of economic sentiment improved by 21.9 points to minus 50.1 in January from a reading of minus 72.0 in December.

A reading above 0.0 on the indicator indicates optimism, while a score below 0.0 indicates pessimism.

It was the strongest increase since April 2011 … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Copper Dips On EU Debt Worries, China Easing Hopes Support

Posted: 18 Jan 2012 01:53 AM PST

Forexpros – Copper futures edged lower on Wednesday, easing off the previous session's four-month high amid ongoing concerns over the euro zone's sovereign debt crisis but prices continued to draw support from expectations that China will loosen its monetary policy to boost growth.

On the Comex division of the New York Mercantile Exchange, copper futures for March delivery traded at USD3.717 a pound during European morning trade, shedding 0.36%.

It earlier fell by as much as 0.65% to … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


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

Posted: 18 Jan 2012 01:39 AM PST

Forexpros – The number of people claiming unemployment benefits in the U.K. rose significantly less-than-expected in December, while the unemployment rate rose to 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 1,200 in December, significantly below expectations for an increase of 8,000.

The previous month's figure was revised down to a modest gain of 200 from a … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


European Stocks Lower Amid Debt Concerns; DAX Down 0.12%

Posted: 18 Jan 2012 01:25 AM PST

Forexpros – European stock markets retreated on Wednesday, amid uncertainty over the outcome of fresh Greece bailout talks and the ongoing pressure of credit downgrades in the euro zone.

During European morning trade, the EURO STOXX 50 fell 0.12%, France's CAC 40 declined 0.48%, while Germany's DAX 30 retreated 0.12%.

Greece’s debt swap talks with international creditors were also set to resume on Wednesday, as the country needs to reach a deal in order to secure a new bailout and avoid … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Crude Oil Futures Fluctuate On EU Debt Woes, Iran Supply Fears

Posted: 18 Jan 2012 01:15 AM PST

Forexpros – Crude oil futures swung between small gains and losses on Wednesday, as investors monitored developments surrounding the euro zone's ongoing debt crisis as well as lingering tensions between Iran and the West.

On the New York Mercantile Exchange, light, sweet crude futures for delivery in March traded at USD100.95 a barrel during European morning trade, easing up 0.07%.

The March contract traded between a range of USD100.70 a barrel, the daily low and a session high of … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Forex – GBP/USD Trims Gains After Fitch Warning On Italy

Posted: 18 Jan 2012 12:57 AM PST

Forexpros – The pound trimmed gains against the U.S. dollar on Wednesday, as market sentiment was dented after ratings agency Fitch's flagged a possible two-notch downgrade for Italy.

GBP/USD pulled back from 1.5378, the daily high to hit 1.5342 during early European trade, still up 0.06%.

Cable was likely to find support at 1.5278, the low of January 12 and resistance at 1.5404, Tuesday's high.

Sentiment came under pressure after Fitch ratings agency said earlier it may downgrade … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Gold Futures Edge Lower With Greece Debt Talks In Focus

Posted: 18 Jan 2012 12:34 AM PST

Forexpros – Gold futures edged lower on Wednesday, easing off the previous session's four-week high as investors were cautious amid concerns over a possible Greek debt default and ahead of a closely-watched Portuguese debt auction.

On the Comex division of the New York Mercantile Exchange, gold futures for February delivery traded at USD1,648.55 a troy ounce during early European morning trade, shedding 0.4%.

It earlier fell by as much as 0.5% to trade at a session low USD1,644.15 a troy … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Forex Trading: Euro Firmer

Posted: 18 Jan 2012 12:21 AM PST

Equities look like they are going to open relatively unchanged and their hasn't been any data out yet tonight. The Euro is currently trading on session highs after breaking some downward trend line resistance. The next topside target is now … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Forex – USD/JPY Lower, Greece Talks In Focus

Posted: 18 Jan 2012 12:20 AM PST

Forexpros – The U.S. dollar was lower against the yen on Wednesday, as markets eyed the resumption of Greece's bailout talks and a string of government debt auctions in the euro zone.

USD/JPY hit 76.66 during late Asian trade, the daily low; the pair subsequently consolidated at 76.69, shedding 0.18%.

The pair was likely to find support at 76.54, Tuesday's low and resistance at 76.90, the high of January 10.

Greece's government was due to resume talks with its bond holders to discuss … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Forex – AUD/USD Edges Higher But Gains Capped

Posted: 18 Jan 2012 12:10 AM PST

Forexpros – The Australian dollar edged higher against its U.S. counterpart on Wednesday, but gains were capped by concerns over the financial crisis in the euro zone ahead of a series of government debt auctions and new Greece talks.

AUD/USD hit 1.0405 during late Asian trade, the daily high; the pair subsequently consolidated at 1.0386, adding 0.09%.

The pair was likely to find support at 1.0301, the low of January 17 and resistance at 1.0500, the high of October 24.

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


Forex – NZD/USD Higher Amid Euro Zone Jitters

Posted: 17 Jan 2012 11:58 PM PST

Forexpros – The New Zealand dollar moved higher against its U.S. counterpart on Wednesday, but gains were limited as investors were cautious ahead of a series of debt auctions in the euro zone and new Greece bailout talks.

NZD/USD hit 0.8038 during late Asian trade, the pair's highest since November 1; the pair subsequently consolidated at 0.8034, gaining 0.39%.

The pair was likely to find support at 0.7929, the low of January 17 and resistance at 0.8108, the high of October 24.

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


Asia Stocks Higher With China Easing, Greek Talks In Focus

Posted: 17 Jan 2012 11:47 PM PST

Forexpros – Asian stock markets were broadly higher on Wednesday, adding to sharp gains from the previous session as expectations that China will loosen its monetary policy to boost growth overshadowed concerns over a possible Greek debt default.

During late Asian trade, Hong Kong’s Hang Seng Index rose 0.3% Australia's S&P/ASX200 added 0.15%, while Japan's Nikkei 225 Index jumped 0.99%.

China’s Economic Information newspaper reported earlier that the People's Bank of China could … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Forex – EUR/USD Higher As Greece Talks In Focus

Posted: 17 Jan 2012 11:33 PM PST

Forexpros – The euro was higher against the U.S. dollar on Wednesday, ahead of the resumption of talks between Greek Prime Minister Lucas Papademos and the country's creditors later in the day.

EUR/USD hit 1.2788 during late Asian trade, the daily high; the pair subsequently consolidated at 1.2785, gaining 0.41%.

The pair was likely to find support at 1.2648, Tuesday's low and resistance at 1.2844, the high of January 12.

Greece's government was due to resume talks with its bond … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Aggressive Growth Stock: IAC

Posted: 17 Jan 2012 11:00 PM PST

IAC (IACI) has what it takes to be a Zack Rank #1 (Strong Buy). Strong earnings surprises and growth make us take a deeper look.
Company Description
IAC/InterActiveCorp operates in four segments: Search, Match, ServiceMagic, Media and Other. The Search segment includes Ask.com and Dictionary.com. Chemistry.com & Match.com are among the several other dating sites make up Match segment. ServiceMagic matches consumers with service professionals. And Media is the segment that includes sites … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Bull Of The Day: Celgene Corp. (CELG)

Posted: 17 Jan 2012 11:00 PM PST

We are maintaining our Outperform recommendation on Celgene Corp. (NASDAQ:CELG) following impressive preliminary results disclosed for the fourth quarter (adjusted EPS up 46%) and full year 2011 (adjusted EPS up 36%). Preliminary adjusted revenues in the final quarter of 2011 came in at $1.28 billion, 22% above the year-ago figure. For 2011, sales came in at $4.8 billion, up 34%.
The company also gave a bright outlook for 2012 with adjusted earnings expected to improve by 25%. We believe that … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Bear Of The Day: Darden Restaurants, Inc. (DRI)

Posted: 17 Jan 2012 11:00 PM PST

Although Darden Restaurants, Inc. (NYSE:DRI) registered improving blended comparable restaurant sales for the last few quarters, recent woes at Olive Garden continue to nag the company. Stiff competition resulting in higher discounting rates and promotional offers, increasing food costs for the upcoming quarter and cautious consumer spending add to the worry.
Moreover, a recent cut in guidance compels us to downgrade the stock from a Neutral to Underperform recommendation. The company now expects … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Momentum Stock: Dollar Thrifty Automotive Group, Inc.

Posted: 17 Jan 2012 11:00 PM PST

Dollar Thrifty Automotive Group, Inc. (DTG) 
This car company showed strong Q3 results and beat estimates across the board.  Now with a new CEO, great rates and increasing demand, they may be poised for another strong year after rising 53% over the past twelve months.
Company Description & Developments
Unless you've been living under a rock for the past couple years, you know that consumers have been strained and taking more "stay-cations" than normal. There no doubt is an … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Growth & Income Stock: CubeSmart

Posted: 17 Jan 2012 11:00 PM PST

A&E’s popular “Storage Wars” reality TV-show has brought a lot of attention to the self-storage industry lately. But it has been two straight years of strong returns that has caught the attention of investors.
CubeSmart (CUBE) is a self-storage real estate investment trust (REIT) that has been delivering better-than-expected results lately.
The company has met or beat the Zacks Consensus Estimate in each of the last 4 quarters, and has seen a steady increase in consensus estimates over … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Forex – EUR/USD Up During The Asian Session

Posted: 17 Jan 2012 10:45 PM PST

Forexpros – The Euro was higher against the U.S. Dollar on Wednesday.

EUR/USD was trading at 1.2758, up 0.17% at time of writing.

The pair was likely to find support at 1.2624, Friday's low, and resistance at 1.2878, Friday's high.

Meanwhile, the Euro was up against the British Pound and the Japanese Yen, with EUR/GBP gaining 0.14% to hit 0.8318 and EUR/JPY rising 0.02% to hit … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Bank Indonesia Widens Interbank Interest Rate Corridor

Posted: 17 Jan 2012 10:30 PM PST

Indonesia’s central bank, Bank Indonesia, widened its interest rate corridor for interbank funding (the deposit facility rate) to 200 basis points below the Bank Indonesia rate, from 150bps previously – effectively easing monetary policy settings.  The Bank said [translated]: “This is done as a step to strengthen the liquidity management of banks, by encouraging banks to transact with each other, while expected to improve the efficiency of banking. This decision is effective from … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Forex – USD/JPY Down During Asian Trade

Posted: 17 Jan 2012 09:45 PM PST

Forexpros – The U.S. Dollar was lower against the Japanese Yen on Wednesday after the release of Japanese data on Industrial Production.

USD/JPY was trading at 76.67, down 0.22% at time of writing.

The pair was likely to find support at 76.56, Tuesday's low, and resistance at 77.08, Monday's high.

Earlier in the day, data showed that Industrial production in Japan fell more-than-expected to a seasonally adjusted -2.7% last month from -2.6% in the preceding month.

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


Forex – EUR/JPY Up During The Asian Session

Posted: 17 Jan 2012 08:50 PM PST

Forexpros – The Euro was higher against the Japanese Yen on Wednesday after the release of Japanese data on Industrial Production.

EUR/JPY was trading at 97.99, up 0.13% at time of writing.

The pair was likely to find support at 97.04, Monday's low, and resistance at 98.80, Friday's high.

Earlier in the day, data showed that Industrial production in Japan fell more-than-expected to a seasonally adjusted -2.7% last month from -2.6% in the preceding month.

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


Japan’s Industrial Production Falls More-than-expected

Posted: 17 Jan 2012 08:45 PM PST

Forexpros – Industrial production in Japan fell more-than-expected last month, data showed on Wednesday.

In a report, the Ministry of Economy, Trade and Industry said that industrial production fell to a seasonally adjusted -2.7%, from -2.6% in the preceding month.

Analysts had expected industrial production to fall -2.4% last … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Forex – USD/CAD Down In Asian Trading Hours

Posted: 17 Jan 2012 08:10 PM PST

Forexpros – The U.S. Dollar was lower against the Canadian Dollar on Wednesday.

USD/CAD was trading at 1.0138, down 0.13% at time of writing.

The pair was likely to find support at 1.0113, Tuesday's low, and resistance at 1.0284, Friday's high.

Meanwhile, the U.S. Dollar was down against the Euro and the British Pound, with EUR/USD gaining 0.36% to hit 1.2782 and GBP/USD rising 0.15% to hit … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Forex – AUD/USD Up During Asian Trade

Posted: 17 Jan 2012 07:30 PM PST

Forexpros – The Australian Dollar was higher against the U.S. Dollar on Wednesday.

AUD/USD was trading at 1.0378, up 0.02% at time of writing.

The pair was likely to find support at 1.0233, Friday's low, and resistance at 1.0450, Tuesday's high.

Meanwhile, the Australian Dollar was down against the Euro and the Japanese Yen, with EUR/AUD gaining 0.27% to hit 1.2309 and AUD/JPY falling 0.17% to hit … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Forex – EUR/USD Up During The Asian Session

Posted: 17 Jan 2012 07:05 PM PST

Forexpros – The Euro was higher against the U.S. Dollar on Wednesday.

EUR/USD was trading at 1.2778, up 0.33% at time of writing.

The pair was likely to find support at 1.2624, Friday's low, and resistance at 1.2878, Friday's high.

Meanwhile, the Euro was up against the British Pound and the Japanese Yen, with EUR/GBP gaining 0.23% to hit 0.8326 and EUR/JPY rising 0.16% to hit … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Top 500 U.S. Manufacturing Firms Had 2011 Sales Of $5 Trillion, Almost As Much As Japan’s GDP

Posted: 17 Jan 2012 06:56 PM PST

Rank
10 Largest U.S. Manufacturing Industries, 2011
 Revenue (Millions) 
Examples

1
Petroleum & Coal Products
$1,274,150
Exxon, Chrevron, Conoco

2
Computers & Other Electronic Products
$709,613
HP, IBM, Apple, Dell

3
Chemicals
$406,445
P&G, Dow, DuPont

4
Pharmaceuticals
$306,076
J&J, Pfizer, Merck and Co.

5
Motor Vehicles
$303,540
Ford, GM, Harley-Davidson

6
Food
$284,469
General Mills, Kellogg, Campbell

7
Aerospace & Defense
$254,126
Boeing, … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Forex – EUR/JPY Up During Asian Trade

Posted: 17 Jan 2012 06:35 PM PST

Forexpros – The Euro was higher against the Japanese Yen on Wednesday.

EUR/JPY was trading at 98.01, up 0.16% at time of writing.

The pair was likely to find support at 97.04, Monday's low, and resistance at 98.80, Friday's high.

Meanwhile, the Euro was up against the U.S. Dollar and the British Pound, with EUR/USD gaining 0.32% to hit 1.2777 and EUR/GBP rising 0.27% to hit … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


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