EUR/USD closed lower on Tuesday as it consolidates some of the rally off this month’s low. The low-range close sets the stage for a steady to lower opening on Wednesday. Stochastics and the RSI are oversold but remain neutral to bullish signalling that additional strength is possible near-term. If it
Foreign Exchange Market Commentary
August - 31 - 2010
Fuel-Thirsty China, The One Thing Investors Can Rely On
August - 31 - 2010
Jim Trippon submits:
Green energy gets all the publicity these days. Even China, which has a reputation as the world’s biggest greenhouse gas emitter, is cracking down hard on energy usage.
Premier Wen Jiabao vows to use an "iron hand" to improve China’s energy efficiency. Beijing has just ordered more than 2,000 steel mills, cement plants and other energy-guzzling industries to shut down by September 30th. And Premier Wen means business this time.
The government has been trying for five years to enforce a plan to use 20 percent less energy per unit of economic output. But balky regional governments have frustrated Beijing by blocking every effort to close aging factories. Now, 2,000 factories will be barred from obtaining bank loans, business licenses, and even land.
Zacks.com submits:
Winn-Dixie Stores Inc. (WINN) reported fiscal 2010 fourth-quarter results after the closing bell on Monday. Net income jumped 48.8% to $14.0 million or 25 cents per share from $9.4 million or 17 cents per share in the year-ago period. Quarterly earnings also surpassed the Zacks Consensus Estimate of 13 cents. The growth in earnings was mainly attributable to an extra week of sales and absence of a significant income tax expense recorded in the year-ago period. (See conference call transcript here.)
Quarterly Details
Equities Mixed ahead of Heavy Weight Data, But Swissy and Yen Can’t Wait
August - 31 - 2010
Swiss Franc and Japanese yen continued to dominate the markets in US session on safe haven flows. Stocks were mixed and received little support from solid data from US and DOW hovered in tight range around 10000 level, and closed up 5pts. Crude oil, on the other hand, dropped sharply
Are We at a Critical Inflection Point?
August - 31 - 2010
The early US mini-rally early in the session waffled ahead of the close today. The FOMC minutes did little to add any cheer, as they show some Fed member reluctant to supply yet another round of liquidity. The Chicago PMI came out a bit lower than expected, falling 5.6 points
FOMC Minutes Lesson in Policy-Making Under Uncertainty
August - 31 - 2010
The minutes of the Federal Open Market Committee’s (FOMC) August 10th interest rate decision largely reflected committee members’ disappointment in recent economic data and a consensus view that economic activity is likely to continue to underperform over the next several months. Participants also noted that risks to the economic outlook
USD/CAD – Resistance Reached
August - 31 - 2010
Price action on USD/CAD (a 4-hour chart of which is shown) as of Tuesday (8/31/2010) has hit a key resistance level in the 1.0670 price region, a level that has been reached and respected several times in the recent past. This occurs after price made a pronounced bullish bounce up
EUR/USD – Will Volatility Tighten Ahead of NFP?
August - 31 - 2010
This is a follow up to this mornings EUR/USD update, where I was stalking the correction rally. So far the market has held the pair below 1.2740, an important area as I mentioned.It has become a pivot for a decline in the US session. The decline now tests the 1.2670