Thursday, January 5, 2012

DailyMarkets.com - LSI Corp. Acquires SandForce

DailyMarkets.com - LSI Corp. Acquires SandForce

LSI Corp. Acquires SandForce

Posted: 05 Jan 2012 10:25 AM PST

LSI Corporation (NYSE:LSI) recently announced the completion of its SandForce Inc. acquisition deal. The intent of this venture is to enhance application performance using SandForce's flash-based storage support features for the advancement of flash storage processors.
LSI has formed a new segment called Flash Components Division following the acquisition, which will be headed by the former CEO of the company, Michael Raam. Around 190 SandForce workers are employed here. The acquisition was … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex Trading: USDJPY Tests 100 Day MA At 77.16

Posted: 05 Jan 2012 10:19 AM PST

The USDJPY has rallied today on the back of much better US data. The price was also supported by the inability to breach the post BOJ intervention low at the 76.567 level.  This gave traders even more reason to cover shorts when the price started moving above trendlines and moving averages (see hourly chart below)

 
The EURJPY has not faired as well today. The EURJPY reached 11 year lows today and remains near the lows.  The price has stabilized however, and with it has … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Elpida-Toshiba Merger Boosts Micron

Posted: 05 Jan 2012 10:05 AM PST

Semiconductor device manufacturer Micron Technology Inc. (NYSE:MU) recently witnessed a 6.0% jump in its share price following the announcement of the merger between one of its competitors, Elpida Memory and Toshiba Corp. The merger marks a consolidation in an industry hurt by cut-throat competition.
The Japanese government is supervising the merger and has initiated words with the Elpida and the Japanese electronic major Toshiba Corporation. Some industry experts believe that the Elpida merger … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

RadioShack In Neutral Zone Again

Posted: 05 Jan 2012 09:55 AM PST

We upgrade our recommendation on RadioShack Corp. (NYSE:RSH) to Neutral based on its current valuation, which dropped by nearly 48% last year and is currently trading at the low-end of its 52-week price range. We believe this low-valuation level will provide a cushion for further downslide of the stock price. Meanwhile, the nightmare of RadioShack persists as the company continues with its disappointing performance.
Precipitous decline of the signature and consumer electronics retail businesses, … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Humana Closes MD Care Acquisition

Posted: 05 Jan 2012 09:35 AM PST

On Wednesday, Humana Inc. (NYSE:HUM) announced the completion of its acquisition of California-based MD Care. The closure of the deal took less than four months since the announcement in September 2011. The financial terms of the deal were not disclosed.
Humana does not expect the acquisition to significantly affect its 2012 earnings, even though it will boost the company's Medicare Advantage policyholders by almost 15,000. Although MD Care's policyholders will now be covered by Humana, they … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Euro Stocks Lower On Bank Capital Troubles; DAX Down 0.25%

Posted: 05 Jan 2012 09:35 AM PST

Forexpros – European stocks closed lower for the second day Thursday, as concerns over banks needing to raise more capital than forecasted muted bullish U.S. employment numbers.

After the close of European trade, the EURO STOXX 50 gave back 1.45%, France’s CAC 40 fell 1.53%, while Germany’s DAX 30 closed lower by 0.25%. Meanwhile, in the U.K. the FTSE 100 dropped 0.78%.

The bearish sentiment started when Italy’s UniCredit stated it will sell shares at EUR1.943 to raise EUR7.5 billion. This … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

El Paso E&P Unit On Sale?

Posted: 05 Jan 2012 09:27 AM PST

Reliance Industries Ltd. and Apollo Global Management LLC are eying the oil and natural-gas exploration and production unit of  El Paso Corp. (NYSE:EP), according to media reports.
However, the decision to divest the exploration and production unit wholly or in part, rests solely on Kinder Morgan Inc. (KMI). In October 2011, Kinder Morgan inked a deal with El Paso to purchase all the outstanding shares of the latter. El Paso agreed to merge with Kinder Morgan hoping that the transaction … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex Trading: EURUSD Continues The Trend Down

Posted: 05 Jan 2012 09:23 AM PST

The EURUSD is maintaining the trend lower. The topside trendlined now has three points along the line. The bottom, less steep trendline has 3 points (and one failed break). The sellers are still in control with the 1.2775 level as the bottom target now.   I would look for buyers against this level as it also is near the 138.2% of the move up from the December 29th low.

On the topside, the buyers need to prove their conviction by pushing the price above the topside trendline on … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex Trading: GBPUSD Momentum Fading A Bit

Posted: 05 Jan 2012 09:23 AM PST

The slope of the downtrend is flatter. There is a double bottom. The price is trying to move above and stay above the downward trendline on the chart above.  What is missing is an urgency to buy back shorts. A move above teh 1.5500 and then the 38.2% of the days rangeat the 1.5527 area. The 100 bar MA is also a target and moving lower.
The momentum seems to be fading but the buyers seem to be thin.
NOTE: A move back lower below the trendline and certainly through the double bottom should … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex Trading: USDCHF Stays Supported

Posted: 05 Jan 2012 09:23 AM PST

The USDCHF is staying supported in up and down activity intraday. The price remains above channel trendline support, keeping the bulls in control.  Sellers so far have not been able to exert any control. They must turn the bias to neutral or down. Otherwise, there is no reason to … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

BSX’s Alair Receives Reimbursement

Posted: 05 Jan 2012 09:07 AM PST

Boston Scientific Corporation (NYSE:BSX) received a major breakthrough for its Alair Bronchial Thermoplasty ("BT") system with the Centers for Medicare and Medicaid Services (“CMS”) acknowledging the benefit of the treatment.
As a result, effective January 1, 2012, Medicare will be reimbursing the Alair catheter through a “pass-through” payment when the procedure is performed in an outpatient hospital setting, in addition to reimbursing the bronchial thermoplasty procedure. This should … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

SCG-DOW Finalize PO Plant Start-up

Posted: 05 Jan 2012 09:02 AM PST

The Dow Chemical Company (NYSE:DOW) announced that the SCG-Dow Group, a joint venture between Dow and The Siam Cement Group (NYSE:SCG), has finalized the start-up of its propylene oxide (PO) facility in Thailand by successfully completing its full capacity performance test.
The ground for the PO facility was broken in June 2008. Propylene oxide, a versatile chemical intermediate, is used in the production of raw materials for a wide range of industrial and commercial products, including … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Stock Market News Briefs: Acme Packet, Eastman Kodak Company, LCA-Vision, Progress Software Corporation

Posted: 05 Jan 2012 09:01 AM PST

    Laser-vision surgery chain LCA-Vision Inc.'s (NASDAQ:LCAV) share prices rocketed up 35.39% to close at $4.17 after the company reported a 30% increase in its same store procedures during its fourth quarter

    Network infrastructure provider Acme Packet Inc. (NASDAQ:APKT) shares declined 19.21% after the company lowered its 2011 forecast for adjusted earnings and sales

    Share prices of Eastman Kodak Co.'s (NYSE:EK) plummeted 28.19% to close at $0.47 … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Good News For U.S. Labor Market

Posted: 05 Jan 2012 09:01 AM PST

Positive domestic data and the resumption of Europe-centric negative headlines will be pushing stocks in opposite directions today. France held an overall successful bond auction, though yields inched up a bit. But Euro-zone worries are getting focused on the region's banks, which need to tap the capital markets to spruce up their battered capital positions.
The Spanish government announced that the country's banks need to raise €50 billion in fresh capital, while Italy's UniCredit was … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Seagate Foresees Higher 2Q Numbers

Posted: 05 Jan 2012 09:01 AM PST

Improvement in hard drive shipments during December 2011 has enabled Seagate Technologies Plc. (NASDAQ:STX) to increase its revenue outlook for the ongoing quarter ending in March. Following the announcement, the company's stock jumped more than 7.0%.
Although Seagate was initially apprehensive about how its business would be impacted by the floods in Thailand, it did in fact emerge as a beneficiary of the event.
The current scenario is extremely beneficial for Seagate. The company's nearest … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

FDA OKs Meridian’s GDH Test

Posted: 05 Jan 2012 09:01 AM PST

Diagnostic test kit maker Meridian Bioscience (NASDAQ:VIVO) recently won the approval of the U.S. Food and Drug Administration ("FDA") for its new C. difficile (Clostridium difficile) test dubbed ImmunoCard C. difficile GDH. The Cincinnati-based company launched the test in Europe in August 2011.
C. difficile is a highly drug-resistant bacterium, which exists in the environment in spore (or inactive) form and produces a toxin that causes diarrhea and more serious intestinal conditions such as … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Good News For Alkermes’ Pipeline

Posted: 05 Jan 2012 09:01 AM PST

Alkermes plc (NASDAQ:ALKS) recently announced that its candidate ALKS 5461 has fared well in a phase I/II study (n=32) in patients suffering from major depressive disorder (MDD). The patients evaluated in the study had responded inadequately to treatments under the standard drugs for clinical depression. ALKS 5461 is a combination of buprenorphine and Alkermes' another candidate ALKS 33.
Topline data from the multicenter, randomized, double-blind, placebo-controlled, parallel-group seven day study … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Sonic Reports In Line, Comps Up

Posted: 05 Jan 2012 09:01 AM PST

Oklahoma-based Sonic Corp. (NASDAQ:SONC) reported first quarter 2012 earnings of 9 cents per share, in line with the Zacks Consensus Estimate, but below the year-ago quarter earnings of 12 cents per share.
Total revenue in the reported quarter inched down 0.7% year over year to $128.3 million. However, comparable store sales (comps) for the quarter inched up 0.1%, mainly due to a 0.2% uptick at franchise drive-ins, partially offset by a 0.1% drop in company drive-ins. The comps growth marked a … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Quest To Acquire S.E.D. Medical

Posted: 05 Jan 2012 09:01 AM PST

Quest Diagnostics (NYSE:DGX), one of the largest providers of commercial laboratory services in North America recently announced its decision to acquire S.E.D. Medical Laboratories, a full-service drugs-of-abuse testing laboratory that provides all laboratory services to the Lovelace Health System. The acquisition is expected to be completed by the end of January 2012. However, financial terms of the transaction have not been disclosed.
S.E.D. Medical, with approximately 450 employees, performs … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Scientific Games Wins IGB Contract

Posted: 05 Jan 2012 09:01 AM PST

Scientific Games Corp. (SGMS) recently signed a new contract with the Illinois Gaming Board (IGB) for setting up a central communications system (CCS) in the State of Illinois. Under the terms of the contract, Scientific Games will design, implement and manage its AEGIS-video central communication system for IGB. The system will connect IGB to every installed video gaming terminal in the state and help it better manage as well as analyze all the betting activity in the state.
Illinois legalized … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Dreams’ December Online Sales Up

Posted: 05 Jan 2012 09:01 AM PST

Dreams, Inc (DRJ), a vertically integrated sports memorabilia and licensed products enterprise, continues to witness upside in its e-commerce division, which accounts for the largest portion of its total revenue.
The online division recorded sales of $37.4 million in the month of December 2011 compared with $29.4 million in the year-ago period, implying a rise of 27% year over year. The upside in sales was primarily driven by growth at the company's FansEdge.com website along with the … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Twin Overseas Deals For POSCO ICT

Posted: 05 Jan 2012 09:01 AM PST

South Korean steel maker, POSCO’s (NYSE:PKX) IT unit, POSCO ICT is strengthening its foothold in the overseas market as the unit recently reported to have won contracts worth KRW180 billion. Overseas orders last year approximated KRW500 billion and accounted for 30% of total orders.
Of the contracts, the one worth KRW 120 billion requires POSCO ICT to set up a plant automation system at a CSP steel mill, with annual production capacity of 60 million tons in Brazil. The unit expects to receive … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Hospira Upped To Neutral

Posted: 05 Jan 2012 09:01 AM PST

We recently upgraded our rating on Hospira, Inc. (NYSE:HSP) from Underperform to Neutral with a target price of $33.00.
Hospira is facing continued manufacturing problems at its Rocky Mountain facility, which accounts for approximately 25% of the overall net sales. Slowdown in production at the Rocky Mountain facility due to remediation efforts undertaken in response to the FDA’s warning letter received in April 2010, led to a shortfall in sales in the third quarter of 2011. The manufacturing … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

NeuroMetrix Reaches Milestone

Posted: 05 Jan 2012 09:01 AM PST

Nerve testing devices maker NeuroMetrix (NASDAQ:NURO) recently reached a commercial milestone as it has booked the 100th order for its new NC-stat DPNCheck test. The Massachusetts-based company unveiled the test at the annual conference of the American Diabetes Association ("ADA") in San Diego, California, in July 2011. Commercial shipment of the product began in September 2011.
The NC-stat DPNCheck test has been designed for evaluating systemic neuropathies such as diabetic peripheral … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

National Bank Of Romania Drops Rate 25bps To 5.75%

Posted: 05 Jan 2012 08:57 AM PST

The Banca Nationala a Romaniei reduced its key monetary policy interest rate by 25 basis points to 5.75% from 6.00%.  The Bank said: “The recovery of the Romanian economy has continued – underpinned by favourable dynamics of exports, as well as of industrial and farming output – whereas the growing uncertainties regarding global and European growth amid a worsened global risk appetite and heightened sovereign debt crisis in the euro zone are hindering the short-term outlook … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Crude Oil Futures Hold On To Losses After U.S. Supply Gain

Posted: 05 Jan 2012 08:12 AM PST

Forexpros – Crude oil futures held on to losses on Thursday, after government data showed U.S. crude supplies rose unexpectedly last week, however ongoing concerns over a disruption to Iranian oil supplies continued to lend support.

On the New York Mercantile Exchange, light, sweet crude futures for delivery in February traded at USD102.18 a barrel during U.S. morning trade, dropping 1.03%.

It earlier fell by as much as 1.4% to trade at a session low USD102.06 a barrel.

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

Wall Street Falls On EU Worries

Posted: 05 Jan 2012 08:10 AM PST

01/05/12 US stocks opened in negative territory on renewed EU jitters. US jobs data topped forecasts ahead of the release of December’s employment … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Creative Destruction: Kodak Teeters On The Brink

Posted: 05 Jan 2012 07:55 AM PST

Rochester-based Eastman Kodak has been around since 1894, and was a blue-chip Dow Jones Industrial Average stock from 1930-2004.  The company has been on the annual Fortune 500 list of America’s largest companies every year since the rankings started in 1955.  But the company hasn’t turned a profit since 2007, and is now on the verge of filing for bankruptcy, according to an article in today’s Wall Street Journal.

Here are some excerpts:

“Eastman Kodak Co. is preparing to seek … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Natural Gas Futures Remain Lower After U.S. Storage Data

Posted: 05 Jan 2012 07:50 AM PST

Forexpros – Natural gas futures remained sharply lower on Thursday, amid lingering concerns over elevated inventory levels after the U.S. Energy Information Administration said that natural gas inventories declined less-than-expected last week.

On the New York Mercantile Exchange, natural gas futures for delivery in February traded at USD3.038 per million British thermal units during U.S. morning trade, tumbling 1.85%.

It earlier fell by as much as 3.6% to trade at a session low USD3.006 … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – Dollar Extends Rally As Risk Appetite Crumbles

Posted: 05 Jan 2012 07:32 AM PST

Forexpros – The U.S. dollar extended a rally against its major counterparts on Thursday, as investors dumped higher yielding assets as a combination of worries over the euro zone's ailing banking sector and sovereign funding issues in the region outweighed strong U.S. jobs data.

During U.S. morning trade, the dollar remained sharply higher against the euro, with EUR/USD tumbling 1.02% to hit 1.2812.

Risk appetite was hard hit as concerns over the health of the euro zone banking sector … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – GBP/USD Pushes Lower, Euro Zone Worries Persist

Posted: 05 Jan 2012 07:21 AM PST

Forexpros – The pound extended losses against the U.S. dollar on Thursday, falling to a three-day low as renewed concerns over the health of Europe's banking sector overshadowed positive U.S. employment data.

GBP/USD hit 1.5476 during U.S. morning trade, the pair's lowest since January 2; the pair subsequently consolidated at 1.5486, dropping 0.85%.

Cable was likely to find support at 1.5400, the low of December 30 and resistance at 1.5628, the day's high.

U.S. payroll processing … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – EUR/USD Down More Than 1% On Banking Fears

Posted: 05 Jan 2012 07:18 AM PST

Forexpros – The euro was down more than 1% against the U.S. dollar on Thursday, as fears over the financial crisis in the euro zone kept the currency under heavy selling pressure and overshadowing stronger-than-expected U.S. employment data.

EUR/USD hit 1.2785 during U.S. morning trade, the pair's lowest since September 13, 2010; the pair subsequently consolidated at 1.2810, falling 1.01%.

The pair was likely to find support at 1.2700 and resistance at 1.2946, the session high.

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

Canadian Ivey PMI Rises Unexpectedly In December

Posted: 05 Jan 2012 07:11 AM PST

Forexpros – Canada’s Ivey purchasing managers' index rose unexpectedly in December, industry data showed on Thursday.

In a report, the Richard Ivey School of Business said its purchasing managers' index rose by 3.6 points to 63.5 in December from a reading of 59.9 in November.

Analysts had expected the index to decline by 0.8 points to 59.1.

A figure above 50.0 indicates industry expansion, below indicates contraction.

According to the data, the Employment Index rose to 60.0 in … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

U.S. ISM Non-manufacturing PMI Rises Less-than-expected

Posted: 05 Jan 2012 07:07 AM PST

Forexpros – Service sector activity in the U.S. rose less-than-expected in December, industry data showed on Thursday.

In a report, the Institute of Supply Management said its non-manufacturing purchasing manager’s index rose by 0.6 points to 52.6 in December from a reading of 52.0 in November.

Analysts had expected the index to rise by 1.0 point to 53.0 in December.

On the index, a reading above 50.0 indicates the non-manufacturing sector economy is generally expanding, below 50.0 … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Crude Steady Ahead Of EIA Report

Posted: 05 Jan 2012 02:00 AM PST

01/05/12 Front month crude prices were trading steady near $103 a barrel this morning just prior to the release of the EIA inventory data report as the euro tumbled against the dollar and … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Gold Futures Fall From 2-week High As USD Strength Weighs

Posted: 05 Jan 2012 06:57 AM PST

Forexpros – Gold futures erased gains on Thursday, retreating from the highest level in two-weeks as the U.S. dollar rallied to a 16-month high against the euro amid ongoing fears over the single currency bloc's debt crisis.

On the Comex division of the New York Mercantile Exchange, gold futures for February delivery traded at USD1,604.35 a troy ounce during early U.S. morning trade, dropping 0.5%.

It earlier fell by as much as 0.95% to trade at a session low USD1,597.75 a troy … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

U.S. Stocks Lower Despite Positive Employment Data; Dow Jones 0.88%

Posted: 05 Jan 2012 06:50 AM PST

Forexpros – U.S. stocks were lower on Thursday, as fears over the strength of Europe's banking sector continued to weigh on market sentiment despite upbeat U.S. employment reports.

During early U.S. trade, the Dow Jones Industrial Average dropped 0.88%, the S&P 500 index retreated 0.85%, while the Nasdaq Composite index eased 0.38%.

Data showed that U.S. non-farm private employment increased more-than-expected in December, posting the largest monthly gain since December 2010.

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

Interactive Map Of 2011 U.S. Migration Patterns

Posted: 05 Jan 2012 06:46 AM PST

From Atlas Van Lines, based on 80,289 interstate and cross-border (Canada) household goods relocations from January 1, 2011 through December 31, 2011.  

States that gained population with net inbound moves in 2011 include North Dakota (no surprise there), Texas, New Mexico, Alaska, Tennessee, North Carolina, Virginia, Maryland, Washington, D.C., New Hampshire and Rhode Island. 

Other migration facts for 2011:

Michigan became a balanced state after six consecutive years of … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – USD/CAD Trims Gains After Upbeat U.S. Jobs Data

Posted: 05 Jan 2012 06:40 AM PST

Forexpros – The U.S. dollar trimmed gains against its Canadian counterpart on Thursday, after stronger-than-expected U.S. employment data, but concerns over the euro zone's financial crisis continued to support safe haven demand.

USD/CAD pulled back from 1.0198, the pair's highest since December 2, to hit 1.0172 during early U.S. trade, still up 0.46% on the day.

The pair was likely to find support at 1.0102, Wednesday's low and resistance at 1.0209, the high of January 2.

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

Euro Falls Below 1.2800 For First Time Since September 2010

Posted: 05 Jan 2012 06:35 AM PST

Fundamental Headlines
• Cordray's Ascent Widens Consumer Bureau's Reach – Bloomberg
• ECB Cash Averts 'Funding Crisis' for Italy, Spain – Bloomberg
• Private Hiring Surges, Jobless Claims Dip – Reuters
• EFSF Bond in Demand – WSJ
• France Clears Bond Auction – WSJ
European Session Summary
Higher yielding currencies and risk-correlated assets took a step backwards in the overnight, with the bulk of the significant price action occurring once European markets began to … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Watch The Dollar In 2012, But Be Careful What You Watch

Posted: 05 Jan 2012 06:31 AM PST

Two posts ago, I mentioned the unrealistic composition (currencies and weights) in the DSY dollar index. It is composed of the six currencies in the left column below with the weights indicated. I took it for granted that those weights would be recognized by everyone as not representative of the current pattern of U.S. international trade, but I also just took the easy way out and didn't provide an alternative. Sorry about that.
In the second column below, I give the total trade weights (a … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Global Stocks Dip On EU Funding Uncertainty

Posted: 05 Jan 2012 01:15 AM PST

01/05/12 NYFP’s Opening Bell Report: Global stocks were in the red Thursday morning amid ongoing concerns about the ability of the eurozone to raise … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – EUR/JPY Remains Lower Despite Upbeat U.S. Data

Posted: 05 Jan 2012 06:03 AM PST

Forexpros – The euro remained lower against the yen on Thursday, hovering close to an 11-year trough as sustained concerns over Europe's banking sector overshadowed positive U.S. employment data.

EUR/JPY hit 98.49 during European afternoon trade, a decade low; the pair subsequently consolidated at 98.71, shedding 0.58%.

The pair was likely to find support at 98.00 and resistance at 99.34, the day's high.

Data showed that U.S. non-farm private employment increased more-than-expected in … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards
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