Online Forex Trading

Crude Oil Inventory Watch: Surge in Imports Brings Inventories Near 10-Year Highs

admin — Thu, 29 Jul 2010 03:35:54 +0000

Inventories

The Department of Energy reported that in the week ending July 23, 2010, US crude oil inventories increased by 7.3 million barrels, gasoline inventories were close to unchanged, distillate inventories increased by 0.9 million barrels, and total petroleum inventories increased 9.0 million barrels. The latest movements put all inventory components at or near record seasonal highs. Refinery utilization finally ticked lower, but gasoline production hit a new all-time high. More encouragingly, demand continues to rebound, with gasoline consumption at three-year highs.

Dollar Continues Lackluster Performance Amid Disappointing U.S. Data

admin — Thu, 29 Jul 2010 03:35:54 +0000

• Euro Tumbles Against Most Major Currencies as Bank Lending Remains Tight, Euribor Pushes Higher
• British Pound Looks for Direction as Comments by Governor Mervyn King Raises Concerns of Stagflation
• Australian Dollar Dips Back Below 200-Day SMA as Traders Pare Bank Interest Rate Expectations
• Japanese Yen Rallies as Speculation for BoJ Intervention Subside
• New Zealand Dollar to Face Whipsaw Price Action Ahead of RBNZ Rate Decision

GBP/USD: Trading the Change in U.K. Mortgage Approvals

admin — Thu, 29 Jul 2010 03:35:53 +0000

As bank lending in the U.K. is expected to weaken in June, the data is likely to reinforce a weakened outlook for future growth, which could spur a reversal in the British Pound as investors weigh the prospects for a sustainable recovery.

South Korean Market Trades Modestly Lower

admin — Thu, 29 Jul 2010 03:35:52 +0000

The South Korean stock market is trading lower on Thursday with investors tracking cues from Wall Street and pressing sales in some key stocks from the technology, banking and automobile sectors.

Indian Market Seen Lower On Downbeat U.S Data

admin — Thu, 29 Jul 2010 03:35:52 +0000

The Indian market may turn volatile on Thursday, as traders rollover their positions in the derivatives segment from July series to the August series on the last day of F&O expiry today. On the earnings front, Bank of Baroda, GE Shipping, HCL Tech, ONGC, NHPC, Siemens and Hero Honda are among the companies that are set to unveil their quarterly earnings today.

Japanese Market Trades Weak

admin — Thu, 29 Jul 2010 03:35:52 +0000

Tracking cues from Wall Street, where stocks drifted lower overnight following a decline in durables goods orders and the Federal Reserve’s none too encouraging remarks about the U.S. economy, the Japanese stock market is trading weak on Thursday.

Australian Market Trades Weak On Wall Street Cues

admin — Thu, 29 Jul 2010 03:35:51 +0000

The Australian stock market is trading lower on Thursday with investors tracking cues from Wall Street and indulging in some selling in a few front line stocks from financial, energy and consumer discretionary sectors.

Stocks Dip As Beige Book Paints Lackluster Economic Picture – U.S. Commentary

admin — Thu, 29 Jul 2010 03:35:51 +0000

Stocks posted notable losses on Wednesday, as the Federal Reserve’s Beige Book showed some signs of a stalling economic recovery and the Commerce Department reported an unexpected drop in durable goods orders. The markets fell on the news, which continued to call into question the veracity of an economic rebound in the absence of government stimulus.

Swiss Franc Pares Decline, Australian Dollar Tumbles Back Below 200-Day SMA

admin — Wed, 28 Jul 2010 18:34:52 +0000

The Swiss Franc pared the previous day’s decline and is the best performing currency against the greenback on Wednesday, while the Australian dollar retraced the advance from earlier this week and slipped back below the 200-Day SMA (0.8963) to a fresh weekly low of 0.8910.

Swiss Franc Pares Decline, Australian Dollar Tumbles Back Below 200-Day SMA

admin — Wed, 28 Jul 2010 18:34:52 +0000