December 11th, 2012
Investing.com – The euro hit session highs against the U.S. dollar on Tuesday after a report showed that the closely watched ZEW index of German economic sentiment returned to positive territory for the first time since May this month.
EUR/USD hit 1.2976 during European morning trade, the pair’s highest since December 6; the pair subsequently consolidated at 1.2971, gaining 0.24%.
The pair was likely to find support at 1.2928, the session low and resistance at 1.3085, the high of December 6.
The ZEW Centre for Economic Research said that its index of German economic sentiment increased by 22.6 points in December to 6.9, from a reading of minus 15.7 in November. Analysts had expected the index to come in at minus 12.
December 10th, 2012
Investing.com – The euro was little changed against the U.S. dollar on Monday, as concerns over the debt crisis in the euro zone mounted after Italian Prime Minister Mario Monti said he would resign.
EUR/USD pulled back from 1.2886, the session low, to hit 1.2927 during U.S. morning trade, inching up 0.01%.
The pair was likely to find support at 1.2824, the low of November 22 and resistance at 1.2973, Friday’s high.
The euro remained under pressure amid fears that a change in political leadership in Italy will hamper the country’s efforts to emerge from the debt crisis in the euro zone.
December 9th, 2012
Investing.com – U.S. grain futures ended Friday’s session broadly lower, with corn prices plunging nearly 2% to settle the week close to a three-week low amid concerns over sluggish demand for U.S. supplies.
On the Chicago Mercantile Exchange, corn futures for March delivery tumbled 1.95% Friday to settle the week at USD7.3638 a bushel. March corn prices fell to a daily low of USD7.3512 a bushel earlier in the session, the weakest level since November 19.
The March CBOT contract lost 2.3% on the week.
Corn prices were lower for the second consecutive day on Friday, after the U.S. Department of Agriculture said U.S. farmers sold 47,400 tonnes of corn last week, the lowest amount in eight weeks and significantly below estimates for sales in a range between 350,000 tonnes to 550,000 tonnes.
Some chart-based selling also contributed to losses after prices broke below key support levels close to the USD7.48-level, triggering fresh sell orders amid bearish chart signals.
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December 7th, 2012
Forexpros – U.S. UoM consumer sentiment fell more-than-expected last month, preliminary data showed on Friday.
In a report, the University of Michigan said that consumer sentiment fell to a seasonally adjusted 74.5, from 82.7 in the preceding month.
Analysts had expected UoM consumer sentiment to fall to 82.4 last month.
Sean Seshadri Trading Blog
December 3rd, 2012
Forex pros - productive activity in the U.S. deteriorated surprisingly in November, astringent for the first time in three months, industry report demonstrated on Monday.
In a market research, the Institute for Supply Management said its index of purchasing managers fell to 49.5 in November from a reading of 51.7 in October.
market analyst had expected the ISM index of purchasing managers to decline to 51.3 in November.
On the index, a reading above 50.0 indicates industry development, below indicates abbreviation.
The data information illustrated that the ISM index of manufacturing prices fell to 52.5 from 55.0 in October.
The New Orders Index registered 50.3, while the Employment Index decadence to 48.4.
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December 2nd, 2012
Forex pros - U.S. stocks refined assorted on Friday on fears law writers are making no headway in talks to neat the U.S. finance away from a fast-approaching fiscal reef.
At the ending of U.S. trading, the Dow Jones Industrial Average rose 0.03%, the S&P 500 index was up 0.02%, while the Nasdaq mixture index fell 0.06%.
Investors avoided stocks on Friday after House speech John Boehner, an Ohio Republican, lamented that talks on financial reforms with republicans in the Seanad Eireann and White House were going “almost nowhere.”
The fiscal reef, a blend of rising taxes and cuts to government expenditure converging at the close of this year, could tip the U.S. into a regression next year if Congress fails to pointing the economy away from it.
Soft data watered down stock prices as well.
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November 28th, 2012
Traders need to spot momentum as it arises in the market at key locations. Once this instrument got above a key technical level above a 100/barrel then oil moved up 70 cents very quickly. That move could be spotted by knowing how price reacts around key levels. Anytime an instrument breaks above a key level, momentum will increase as traders anticipate a larger move and act on it. You can also see on the chart a nice gradual uptrend that eventually caused this breakout. This setup is one that needs to be memorized as traders can see it on various instruments intraday.
Sean Seshadri,Sean Seshadri Trading Tips , Sean Seshadri, Stock News
November 28th, 2012
European stocks declined, following yesterday’s late selloff in U.S. equities, amid concern budget talks to avoid the fiscal cliff in America are making little progress. U.S. index futures were little changed, while Asian shares retreated.
Celesio AG (CLS1) and Metro AG (MEO) both dropped more than 2 percent after Franz Haniel & Cie. GmbH said it will reduce its holdings in the companies. Swiss Life Holding AG (SLHN) lost 1.7 percent as the life insurer took a larger-than-estimated writedown for its German brokerage.Nokia Oyj (NOK1V) declined 2.4 percent.
The Stoxx Europe 600 Index (SXXP) slipped 0.3 percent to 272.15 at 10:29 a.m. in London. The gauge climbed 0.3 percent yesterday after euro-area finance ministers eased the terms of loans for Greece and approved the next tranche of aid for the country. Futures on the Standard & Poor’s 500 Index fell 0.1 percent today, while the MSCI Asia Pacific Index declined 0.6 percent.
“The fiscal cliff is clearly a pure political battle,” said Giordano Lombardo, who helps manage about $203 billion as chief investment officer at Pioneer Investments, on Bloomberg Television from Milan. “The consensus seems to be that there will be an eleventh-hour agreement. This leaves very little space for disappointment in the market.”
The benchmark S&P 500 (SPX) fell 0.5 percent as Senate Majority Leader Harry Reid said Democrats and Republicans have made little progress in negotiations over how to avoid the fiscal cliff at the end of the year.
Sean Seshadri,Trading Tips , Stock News
November 28th, 2012
Natural gas futures edged down during U.S. morning trade on Tuesday, adding to heavy losses suffered in the previous session as forecasts showing mild winter temperatures across key parts of the U.S. in the coming week weighed on near-term demand expectations for the heating fuel.
On the New York Mercantile Exchange, natural gas futures for delivery in December traded at USD3.721 per million British thermal units during U.S. morning trade, shedding 0.55%.
The front-month December contract is due to expire at the end of trading on Wednesday, November 28.
Meanwhile, the more actively traded contract for January delivery fell 0.3% to trade at USD3.857 per million British thermal units.
Natural gas prices tumbled 4% Monday after updated weather forecasts showed that warmer-than-normal temperatures will descend across the U.S. during the first week of December.
The Commodity Weather Group said that December was forecast to start much warmer than usual across the U.S.
The weather group expected highs possibly reaching into the 60s Fahrenheit (15 to 20 Celsius) in the Midwest and along the East Coast from December 1 to December 5.
Forecasts originally called for colder-than-average weather during the period.
Bearish speculators are betting on the warm weather reducing early-winter demand for the heating fuel. The heating season from November through March is the peak demand period for U.S. gas consumption.
Despite the two-day decline, natural gas prices have been well-supported in recent weeks amid signs of improving demand for the heating fuel.
The January contract rallied to a top of USD4.029 per million British thermal units on November 22, the highest since September 15, 2011,
Total U.S. gas supplies stood at 3.873 trillion cubic feet. Stocks are 0.6% above year-ago levels and 4.5% above the five-year average for the week.
In March, after an exceptionally warm winter, stockpiles were approximately 60% above five-year levels.
Elsewhere on the NYMEX, light sweet crude oil futures for delivery in January fell 0.65% to trade at USD87.16 a barrel, while heating oil for January delivery shed 0.8% to trade at USD3.034 per gallon.
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November 28th, 2012
Gold futures traded lower during U.S. afternoon hours Tuesday, as a stronger greenback triggered by bullish U.S. data pushed the commodity lower on the session.
Futures came under further pressure as initial optimism over news of a deal on financial aid for Greece gave way to concerns over the looming “fiscal cliff” in the U.S.
On the Comex division of the New York Mercantile Exchange, gold futures for February delivery traded at USD1,744.65 a troy ounce during U.S. afternoon trade, down 0.43% on the session.
Gold prices were likely to find support at USD1,720.25 a troy ounce, the low from November 21 and resistance at USD1,774.95, the high from October 12.
The Conference Board, a market research group said its index of U.S. consumer confidence rose to a four-and-a-half-year high of 73.7 in November from a reading of 73.1 in October.
The upbeat data came after a report showed that core durable goods orders, excluding volatile transportation items, rose by a seasonally adjusted 1.5% in October, confounding expectations for a 0.5% decline.
Total durable goods orders, which include transportation items, were unchanged in October, compared to expectations for a 0.6% decline.
Separately, Standard & Poor’s with Case-Shiller said its house price index rose at an annualized rate of 3.0% in September from a year earlier, above expectations for a 2.9% increase.
The U.S. dollar added to gains against its major counterparts following the data, as signs of strength in the U.S. economy curtailed anticipation of more monetary stimulus from the Federal Reserve.
The dollar index, which tracks the performance of the greenback against a basket of six other major currencies, was up 0.30% to trade at 80.45.
A stronger U.S. dollar usually weighs on gold, as it dampens the metal’s appeal as an alternative asset and makes dollar-priced commodities more expensive for holders of other currencies.
Meanwhile, markets participants continued to monitor developments surrounding the looming “fiscal cliff” in the U.S., approximately USD600 billion in automatic tax hikes and spending cuts due to come into effect on January 1.
Republicans in the U.S. Congress on Monday called on President Barack Obama to detail long-term spending cuts to help solve the country’s fiscal crisis, while holding firm against the income tax rate increases for the wealthy that Democrats seek
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