Oroscope

Rasheed Yekini is dead

admin — Sat, 05 May 2012 15:55:00 +0000

It was reported today by Vanguard News on Facebook and the Confederation of African Football (CAF) that the famous dangling and prolific former striker of Super Eagles of Nigeria died yesterday 4th of May 2012 in Ibadan, Oyo State of Nigeria after a brief illness. and his burial today according to Islamic rights. He was age 48 yrs. Rasheed Yekini was the forth highest ranking player and the highest goal scorer for the Nigerian International team at his playing days.

Yekini was voted African Footballer of The Year in 1993 represented Nigeria at the 1984, 1988, 1990, 1992, 1994 Africa Nations Cup finals, collecting the winner’s medal in 1994. He also represented Nigeria at the 1988 Olympics in Seoul, South Korea. He scored 37 goals in 58 international matches, and was the first footballer to score for Nigeria in her first World Cup in USA 1994. He was very instrumental in his country's triumph in 1994 Africa Nations Cup final where he was joint highest goal scorer. The dangling striker Rasheed Yekini's ecstatic celebration – arms through the net, tearfully clutching his face – after scoring his country's first-ever finals goal among other great goals scored and glory brought to his country will never be forgotten.

Adieu Rasheed Yekini, your football prowess and commitment to national duty lives on in our mind, you are truly a legend. May God Almighty grant you eternal rest. Amen.

Written by: Ayodele Ogunrinde

D' banj's Oliver Twist Video on VEVO

admin — Sat, 31 Mar 2012 12:15:00 +0000

As D'banj continues to seer his ship away from the shores that bound his to his former Mo' Hits records partner Don Jazzy, laurels continue to come his way. The latest addition to his collection is his recent induction into the VEVO website. His inclusion into the exclusive club was made possible with the release of video of his latest single "Oliver Twist" . The video was uploaded on to the website on March 19. VEVO is an international music video website and D' banj will be the third Nigerian to have his music uploaded on this website after the likes of Asa and Nneka. VEVO only accepts and uplaod music from internationally acclaimed record label such as Universal Music Group, Sony Music Entertainment and EMI. Once a video is uplaoded on this very website, GOOGLE and VEVO both have the honour of sharing the advertising revenue. Born Oladipo Daniel Oyebanjo, a.k.a D' banj also known as the Kokomaster released his debut album "No Long Thing" in 2005 revolutionising the Nigerian music scene, his follow up albums include Rundown / Funk you up in 2006 and "The Entertainer" in 2008. His 2010 singles "Mr Endowed" and "Scapegoat" are on every music play list across the continent of Africa. His most recent work , Oliver Twist is still hot in the air thus fetching him a worthy space on VEVO.

CHEAP NORITSU QSS DIGITAL PHOTOLAB MACHINES

admin — Mon, 26 Mar 2012 09:19:00 +0000

WE ARE NOW SELLING

Noritsu QSS 3001 Digital Minilab / Price - N2.4 Million

This exciting new compact digital minilab comes equipped with a compact printer processor and a high speed detached film scanner that provides digital processing of image data from multiple sources with surprising ease of operation. The QSS - 3001 digital out performs it compact size . No need to sacrifice processing speed for a compact design with fully digital operation with the ability to process approximately 1160* prints / hour. The QSS - 3001 digital consist of a compact printer - processor with a detached film scanner but utilises a foot print of just fifteen square feet. It is smaller than any previously released QSS digital minilab and the space saving design makes installation easy.

WE ARE NOW SELLING

Noritsu QSS 3300 Digital Minilab / Price - N3.0 Million

The QSS - 33 series is the perfect combination of power and size, get high performance and award winning Noritsu quality in a compact small footprint minilab designed for lower volume environments, the QSS 3300 series also known as the KPT 750 provides excellent productivity along with the steadfast reliability that has made Noritsu synonymous with quality photofinishing equipment . The QSS 3300 series accept input from a wide variety of sources including digital camera media, film and application software. Output options include print, CD -R media and even high margin prints using photo templates and photo greeting cards. A high speed printer processor produces quality prints of various sizes from wallets size to a maximum of 8" x 16.5 enlargement, create up to 750 prints per hour from digital cameras or negative film with exceptional productivity and profitability.

WE ARE NOW SELLING

Noritsu QSS 3501 Digital Minilab / Price - N4.8 Million

It is an advanced digital print engine , produce up to 1240 prints / hour. It has digital processing with virtually limitless possibilities flexible lineup, a line of minilabs that support your individual needs with diversification of consumer demand, every minilab shop now seems to have its own unique business style, some shops offer only digital camera print services and some handle both film and digital media with wealth of state of the art image processing technology incorporated into a compact frame, the QSS 35 series proves to be a flexible line of product that provide an excellent solutions for the photofinishing business with a selection film scanners and monitors and with a wide variety of options to choose from, the highly practical QSS 3501 gives you the freedom to mix and match components to configure a system that meets your exact needs.

Note : For sales and technical information on the Noritsu QSS digital photo machines, please call : Tunde +97470275215 or Ayo +97477938239, you can also send us an email to: info@arvestasworld.org. The machines and shipment coming from the State of Qatar.

Jobs in Qatar

admin — Sun, 26 Feb 2012 15:46:00 +0000

The State of Qatar is working definately to provide job opportunities to the teaming unemployed youths around the world. The country is emerging a force to reckon with in the Arab league and in world politics within the spate of her 25 years of crude oil discovery and production. Surprisingly, Qatar is ranked as the 20th producer of crude oil in the world. You will say Qatar is a story of small men doing great things with their God giving resources.

The Qatar Government has 191 major projects under way, worth a total of around USD($) 82.5 Billion, expected to create more than 1 million new job opportunities, that is from the goverment alone. Among the top ten (10) on going Qatari projects are:

New Doha International Airport - project valued at - USD ($) 11 Billion
Education City - project valued at - USD ($) 8.24 Billion
Barwa Alkhor City - project valued at - USD ($) 8.24 Billion
Lusail - project valued at - USD ($) 5.5 Billion
Qatar - Bahrain Causeway- project valued at - USD ($) 4 Billion
Al Waab City Development - project valued at - USD ($) 3.2 Billion
The Pearl Qatar - project valued at - USD ($) 2.5 Billion
Barwa Real Estate - project valued at - USD ($) 1.34 Billion
Doha Convention Centre & Tower - project value at - USD ($) 1.2 Billion
Barwa Al Baraha - project value at - USD ($) 741 Million.

The above mentioned projects are few of the expected projects to come and not forgetting the construction of the stadia for Qatar's hosting of the Senior World Cup 2022, day-in day-out manpower is required in Qatar's construction industry.

The creation of job opportunities is not limited to the construction industry, sectors like the Banking, Hotel and Tourism, Oil and Gas, Manufacturing, Transport and Traveling and also Education provide numerous job employments everyday, with new companies springing up in these sectors every minute.

Job Benefits and Process in Qatar

The good news is the private and public companies in Qatar are willing to offer you employment contracts directly by their sponsorship for a period of two years or more, with an option of renewal on complertion. These employers undertake the process of obtaining your Visa, provide you accommodation, feeding, medical and transportation both locally and internationally free of charge, vacations & holidays, monies received inform of salaries are tax free in Qatar.

We are willing to render assistance to you on how to secure a direct job offer right from your country with all travelling expenses paid by your employer. Our business is to form that bridge that will link you and the employer together and let them bear the cost of bringing you to Qatar.

If you are interested in signing the dotted lines for job offers in the State of Qatar, please scan the data page of your International passport and forward it to: info@arvestasworld.org.

For more information about Jobs in the State of Qatar, you can contact me by: email - aogunrinde@arvestasworld.org or call - +97477938239.

Written By: Ayodele Ogunrinde

Traveling to the State of Qatar

admin — Tue, 21 Feb 2012 23:15:00 +0000

Traveling to the State of Qatar might be that break away from the norms you desire so much this year. Qatar as popularly called is fast becoming the Golden bride of the Persian Gulf. The country's 11,437 sq km territory is almost surrounded by the Persian Gulf water and occupied by 1.725 million people, both natives and foreigners with the natives constituting 15% of the total population.

The country is rated as the richest in the world today with a per capita income soaring to $138,000 in 2010. Qatar's major earnings come from Oil and Gas and adjudged the largest Gas producer in the world. The system of government is constituttional monarchy, the poeple mostly Arabs and their religion is Islam. The weather is hot and humid in summer and mild cold in winter. The national languages are Arabic and English with Arabic widely spoken among the natives.

The State of Qatar is going through massive construction and building that would beat any human immagination, therefore expatrates from around the world are working night and day along side the Qataris to give to the world a new bride of the Persian Gulf. The country's skilled work force are better paid compared to Europe and Americas, workers salaries are tax free in Qatar.

The State of Qatar welcomes travellers on tourism, business and work to Qatar. Application for visas are done by the sponsorship of the Qataris or by anybody already under their sponsorhip as the case applies, except for nationals of countries not required to obtain visas into Qatar. Visas are issued electronically before transfering them to the traveller's passport upon arrival after the procession of Qatar's National Identification Card in the case of worker's permit visa. That is where I come in to help you facilitate the processes of obtaining the sponsorhip required for receiving visas to the State of Qatar.

For more information about obtaining visas to the State of Qatar, you can contact me by - email: aogunrinde@arvestasworld.org or call: +97477938239.

Written By: Ayodele Ogunrinde

The state of a Nation - Nigeria

admin — Wed, 15 Feb 2012 20:51:00 +0000

The Nigeria nation is a tale of an extravagant father, a country full of both human and natural resources. The country is the fourteenth largest crude oil producer in the world. The Nigerian people ironically ranked among the poorest in the world today. The people traverse the length and breadth of the world for greener pastures in order to escape the clutches of a draining government. The people mostly intellectuals but with no opportunity at home are forced into cheap labour abroad or rated poorly abroad due to the degrading standard of living in Nigeria. Then where did this country the world is looking up to had it all wrong? The country could said to be sliding down from the good economic and political ladder from the government of former President General Ibrahim Babangida,

his government characterised with gross financial misconduct, corruption, unresolved assassinations and political logged gam, non of his predecessors in government was as rich as Ibrahim Babangida by the time he stepped aside from government.

His regime mid wived the steering of Nigeria towards a pure capitalist state by providing the framework for the privatisation and commercialisation of government establishment, corporations and parastatals. This means the Nigerian Government would hands off from the provision of basic infrastructures and amenities to the Nigerian People. The question is who is going to buy these huge investments from the Nigerian People, or is it so impossible to make the National Investment lucrative and efficient in the hands of the government? The General's romance with business moguls could have brought about this lofty economic strategy to sell the National Investment. The implementation of the economic strategy- privatisation and commercialisation was played down by the successive governments until the country became democratic again under former President Olusegun Obasanjo. The question, is the privatisation and commercialisation of government businesses good or bad for the Nigerian People?

There have been no improvement or expansion to date to the provision of social amenities to the Nigerian people along with the fast growing population, especially in the area of generating the power and energy required to drive the economy and coupled with the high level of corruption in government the poverty level in the country has risen to 71.5% of the Nigerian population with the increase in the pump price of Premium Motor Spirit (PMS) to N97( Ninety Seven Naira ) by the Goodluck Jonathan led government.

This is a people with a spending power of $1 per day.

Then the question is - where is the Nigerian people’s money? The poor unequal distribution of the Nigerian wealth has brought about diverse agitations along tribal divide in the country i.e Movement for the Emancipation of the Niger Delta (MEND), Arewa Consultative Forum (ACF), Boko Haram, Oduduwa Peoples Congress (OPC), and Movement for the Actualisation of the Sovereign State of Biafra (MASSOB) to mention few. Nigeria is govern with the 1999 constitution handed over by the Nigerian Military to the this present democratic institutions, the 1999 constitution has been criticised from different quarters to be inadequate in addressing contending issues of Nigerian People i.e resource control, revenue generation and sharing , political power sharing or rotation, poverty, corruption, unity and form of government. Nigeria government at the federal level is controlled by the People Democratic Party (PDP), the political party where the present sitting president belong, the party is said to promote a liberal political and economic ideology that allow only few Nigerian businessmen to keep getting richer at the expense of the poor masses. How can the government justify the continued importation of fuel into the country, the removal of subsidy from Premium Motor Spirit (PMS), the epileptic power supply of 27 years, the high level of unemployment and failed industries and increase in tariffs of power supply? Simply put it, the Nigerian government under PDP is removing government hands from the provision of essential services to her people thereby leaving them in the hands of greedy businessmen.

The same businessmen that are fronting for government officials to defraud Nigerians then ask me, where is the hope of the people? in a government that does not believe in equitable distribution of the national wealth and welfare policy, not at all. The Nigerian people are facing hardship at home and abroad because of bad governance and visionless leadership. A leadership that does not listen to the wishes of his people and protect the interest of his own. The Nigerian political class should be careful, because most Nigerians are now politically conscious of their rights as fellow citizens of the Federal Republic of Nigeria, the riches and goodness of the land belong to all of us, let every Nigerian have a fair share of the national resources, give the people a good sense of life and violence will be a thing of the past.

Written By: Ayodele Ogunrinde

World Financial Market Report - 13/09/2011

admin — Tue, 13 Sep 2011 15:03:00 +0000

Market Snapshot

EUR was heavy first thing in early Monday Asian trade with a variety of negative headlines and a typically vague statement from the G-7 helping trigger stops and push EUR/USD to a low of $1.3550 with EUR/JPY slumping to 104.90. After a brief period of respite, some modestly hawkish comments from the PBOC (see AUD) leant on the commodity currencies and kept the mood generally cautious. Liquidity has not been great given the holidays in China, Korea and Taiwan. The DXY is up to 77.50 from a NY close of 77.20, S&P futures are down 1% and USTs are cheaper by 1-1.5bps. EUR: News over the weekend seemed mainly to be a continuation of Friday’s themes. Several news agencies were reporting that Germany is preparing for a possible Greek default with the head of the CDU’s junior coalition partner, the FDP, quoted as saying debate should include “if necessary, an orderly bankruptcy of Greece”. The Greek government, meanwhile, announced a €2.0bn property tax (applied to electricity bills – so presumably avoiding this will be difficult) to cover a fiscal gap of the same magnitude.

EU Economic and Monetary Affairs Commissioner Rehn appeared to give it the tick of approval (“I welcome the expressed commitment…”) and the disbursement may thus be forthcoming presuming the measure is supported by the Greek Parliament. Elsewhere, support for Germany’s proposal to replace Stark with Asmussen at the ECB seems to be growing with the Dutch adding their approval alongside the Eurogroup’s. With some poor technicals lining up with a continual stream of negative headlines EUR has been friendless.

World Financial Market Report - 30 / 08/ 2011

admin — Tue, 30 Aug 2011 13:32:00 +0000

US Market Snapshot

July personal incomes rose 0.3%, as expected. Nominal spending jumped 0.8%, above the consensus, 0.5%. With the headline deflator up 0.3%, real spending rose a robust 0.5%, the best performance since December 2009. The core deflator rose 0.2% as expected. Q3 spending started on a very strong note, thanks to a 2.0% jump in sales of durable goods, mostly autos. Real spending on non-durable goods dipped 0.3%, but real spending on services rose a hefty 0.5%, likely boosted by increased spending on electricity for air-conditioning during the heat wave across large parts of the country.

We expect real spending to dip 0.2% in August and then to be flat in September, but that would generate a 1.2% annualized gain for Q3, after just 0.4% in Q2. Not great, but much less bad than the sentiment data suggest.

July pending home sales slipped 1.3% m/m, emphasising that the housing market still is NOT cured from its ailments. While sales vary from m/m, the trend in sales is disturbingly flat since autumn last year.

Note that next week in Asia will see reduced liquidity in Asian local currency bonds, with the Indonesian market closed all week, Malaysia closed Tuesday through Thursday (and possibly Friday), Singapore closed on Tuesday and India closed on Wednesday. We will still make markets but bid-offer spreads will be correspondingly wider.In EM Asia data releases next week, watch out for August inflation data from South Korea and Thailand, August Manufacturing PMI from China, and Q2 GDP from India and the Philippines. We expect core inflation in Korea and Thailand to remain elevated. In India, we expect GDP to show only a very slight ‘moderation’ to 7.6% (from 7.8% in Q1) while the Philippines Q2 GDP is expected to be at 4.0% (versus 4.9% last).

Another nervous week though price moves have been subdued, some comparing current conditions in the banking industry to the ‘start of the rot’ in August 2007. Most stock indices clung to recent ranges and above August’s lows although India’s Sensex closed under 16,000 on Friday, its lowest weekly close since September 2009, while Thursday saw the DAX slip 3.8% in an horrific 20 minutes. Similarly currencies held in tiny ranges inside this month’s established bands, the TRL strengthening a little following its move to 1.8000 earlier this month, close to its weakest ever (1.8250 in March 2009). Money market yields backed up for a second consecutive week, in marked contrast to recently DOWNGRADED Treasuries where yields are close to record lows. Benchmark 10-year Greek bonds managed a new record of 1,650 bps spread over Bunds to yield 18.25% (in theory anyway as they are NOT really trading and bid/offer spreads are terribly wide), Finland insisting on collateral against the new promised bail-out. From a record $1,911.46/oz, spot gold slipped to $1,702.44 this week, the biggest weekly fall since 1980, indicating that it may not be the ‘safe haven’ many had assumed.

Japan is approaching the end of its post-quake recovery in industrial production. The update for July is due this coming week – expect the pace of monthly gains to slow. The Markit/JMMA PMI for August will be monitored closely for any signs of a loss of growth momentum – particularly in new orders. In Brazil, central bankers should confirm that the deterioration in global financial conditions was enough to tip the balance in favour of the interruption of the tightening cycle. While the market is now pricing some risk of a cut, we feel that inflation risks remain large enough for BACEN to wait a while longer before easing again. The key event this coming week for Russia will be the CBR meeting, in which it will most likely keep rates ‘on hold’ given the fragile economic recovery and sliding inflation. China’s PMI data steals attention after its recent flirting with the boom-burst threshold of 50. The HSBC-Markit PMI for China, which closely tracks the official PMI, has remained below the 50 level for 2 consecutive months, but in August there was an improvement to 49.8 from July’s 49.3. The PMIs are a good guide to industrial production growth, which we expect will remain in the 13-15% range it has been in since mid-2010 for the rest of the year. August CPI data are due in Korea and Thailand.

Forex and Shares Report - 25 / 08 / 2011

admin — Thu, 25 Aug 2011 16:08:00 +0000

U.S. Market Snapshot

US stocks treading water ahead of Friday’s FOMC’ gathering’ with DJIA +0.86% at 11,269, the S&P Index -0.29% at 1,160.66. and the Nasdaq Composite Index -0.17% to 2,441.98. Brent Crude hovers near $109.34/bbl as supply disruptions balanced against demand worries. On Tuesday, API data showed a surprise 3.3m bpd decline in the week to Aug. 19th, against analyst forecasts for an 800,000 rise.

USD/JPY Snapshot

USD/JPY reversed from its highs (76.88) following Japanese FinMin Noda’s press conference at which he announced measures to “deal with JPY’s rise”. Measures were limited to the setting up of a $100bn facility to encourage Japanese firms’ M&A activity and secure energy resources. The MoF seems to have taken a leaf out of the Swiss government’s book in that measures are aimed at making JPY strength more ‘tolerable’ and not turning it around.

Europe Market Snapshot

Banks borrowed €2.8bn at the ECB’s marginal lending facility today, up from €0.6bn yesterday. Although this might generally be seen as another sign of stress and liquidity starvation in the banking sector, EUR weakness was very short-lived and revered on news that no bank has tapped the ECB for 1-week USD liquidity via its swap lines ($500bn last week).Last trade at $1.4464, +34 pips on the day.

Stocks and Shares Report - 11/ 08 / 2011

admin — Fri, 12 Aug 2011 21:41:00 +0000

Asia Snapshot

It has been another roller–coaster couple of days. Risk assets attempted to rally after the London close, only to sell-off aggressively into the NY close. Having pared losses to ‘just’ -1.0%, the S&P500 closed down 4.42%, providing another poor lead for Asia. Early liquidation of Cross/JPY (suspected to be Japanese leveraged retail positions) was compounded by a ‘soft’ Australian employment report. The market was caught short risk as an essay by a China scholar at a Chinese think tank argued for a cut to the RRR in H2 accompanied by a widening in the USD/CNY daily trading band from +/-0.5% to +/-1.0%.

The story prompted a nasty short squeeze in risk assets from its lows to session highs. S&P futures jumped from -1.0% to +1.6% and the moves in FX have been a mirror image of that. Notwithstanding the fact liquidity is at a premium, we are of the view the squeeze in risk in response to the China story was something of an over-reaction.

CAD Snapshot

We are below consensus for the CA trade deficit (cons: C$0.8bn). The continued decline in crude oil prices and decrease in vehicle production due to supply‐chain issues are expected to weigh more heavily on exports than imports. Machinery and equipment exports are also expected to retrace a portion of the strong gains in May.

AUD Snapshot

The July employment report was soft on almost all fronts with total employment falling for the fourth time in eight months (-0.1,000 vs. cons: 10,000) and the unemployment rate rising 0.2% to 5.1%, its highest level since November 2010. While the unemployment rate can move around from month to month (although much more than 0.2% is unusual) it is far less volatile than headline employment and we think it provides the best gauge of the underlying health of the labour market and the economy in general.

Leading indicators of the labour market point to a further step down in employment generation in the months ahead and if the unemployment rate begins to shift much higher on a sustained basis, regardless of what is going on globally, it would raise questions over just how appropriate the current mildly restrictive stance of policy is.

Commodities Market Report - 27 /04/ 2011

admin — Thu, 28 Apr 2011 21:22:00 +0000

Precious Metal

Silver gained + 0.56 on Wednesday, 2011.04.27 sold for 46.58 USD. Market price moved within 47.19 high and 44.83 low at the time of reporting. Investors have shown interest for buying the metal again after the two days retreat.

Gold gained + 10.66 on Wednesday, 2011.04.27 sold for 1518.95 USD. The price bounded by 1523.55 high and 1502.85 low at the time of taking this report, investors once again resumed hostility against the USD after a two days retreat.

Silver and gold neither do I have but this advice – it is more profitable and safe to invest from a lower end upward.

Forex Newsletter - 28 / 04 / 2011

admin — Thu, 28 Apr 2011 21:17:00 +0000

Coming Up Today (all times GMT)

USD Advanced GDP (12:30)
USD Initial Claims (12:30)
USD Pending Home Sales (14:00)

The long awaited post FOMC Meeting Press Conference came and went last night with nothing new really being said and no changes in the horizon. The key remarks were that the FED will leave record low rates for an “extended period” (which basically means there is no exit strategy) and that the FED’s $600 billion QE2 program will end as expected in June. Fed Chairman Ben Bernanke noted that the US is experiencing high unemployment, a weak housing market, and rising energy costs but didn’t give much details in how the FED’s policies with ease the situation in the future. What Bernanke did do, was explain in detail how supply and demand works and why much of the current difficulties are out of the FED’s control.

Forex traders used the news to continue selling the dollar as it became apparent that the FED has no immediate plans of raising rates. Also, the current environment raises the chances that inflation will accelerate in the US, thus devaluing the dollar’s strength.

EURUSD

Continuing on the 2011 momentum, the EURUSD busted out to 16 months highs following yesterday’s FOMC Meeting and hit 1.4880 this morning. With the FED on hold, the EURUSD could easily top 1.5000, as Forex traders aren’t seeing much of a reason not to sell the dollar. As such, the pair appears to be a great buy on the dip candidate and currently has strong support at 1.4600, and intraday strength at 1.4760.

Support/Resistance 1.4600, 1.4760/1.4880, 1.4950

GBPUSD

The GBPUSD benefitted from an inline UK GDP figure yesterday as the pair jumped from a pre-news level of 1.6450 to 1.6550. The news soothed worries that the implementation of austerity measures in the UK would knock out economic growth from occurring. Additionally, Forex traders gave the GBPUSD a boost as overall dollar selling caused the pair to rally to nearly 1.6750 following Bernanke’s comments. Looking ahead, Forex traders should keep their eyes on today’s trading action, and whether the GBPUSD can hold its recent gains. If the pair remains above 1.6700, it could indicate that buyers are rotating back to the pound and an extended rally could follow.

Support/Resistance 1.6670/1.6750

Stock Market Report - 26/04/2011

admin — Wed, 27 Apr 2011 21:04:00 +0000

BMW AG – Germany, shares gained + 0.90 at the market on Tuesday, 2011.04.26. Trading opened with 60.91 and at the time of taken this report asking price was 61.81. Investors are likely to buy more of these shares at a better deal. Shareholders targeted price around 63.75 before a major re-bound.

Google – United State, shares gained + 7.08 trading on Tuesday, 2011.04.26. The market opened 526.50 and at the time of our report shareholders were asking for 533.58, high and low points were 537.36 and 525.19 respectively. Investors’ choice at this point would be motivated by market trends and indicators.

Total – France, share price dropped by – 0.02, on Tuesday, 2011.04. 26, pricing recovered from upward retreat at the time of taken this report. The high and low points were 42.14 and 41.72 respectively, opened price 41.98, asking 41.96 at the time.

Microsoft – United State, share price gained + 0.47 at the stock market on Tuesday, 2011.04.26, and opened price 25.70, asking price at the time was 26.17, pricing noticed ranging within 24.64 and 26.39 since 2011.03.16 to date in a bearish market.

Forex Newsletter - 27 / 04 /2011

admin — Wed, 27 Apr 2011 20:23:00 +0000

Coming Up Today (all times GMT)

GBP - Prelim Q1 GDP q/q (08:30)
USD - Durable Goods Orders (12:30)
OIL - Weekly Inventories (14:30)
USD - FOMC Statement (16:30) and Press Conference (18:15)
NZD - Interest Rate Statement (21:00)

EURUSD

Amid persistent weakness in the US dollar, the EURUSD pair benefitted from solid buying interest to jump above the $1.4650 support. Today, all eyes will be watching the FOMC rate statement followed by Ben Bernanke’s press conference. Dollar sentiment could vary depending on the central bank’s willingness to shed light on its exit strategy. Will the Fed rollover the maturing debt it hold on its balance sheet or choose to off-load it gradually? Will it change its growth forecast for 2011, to integrate the GDP preliminary estimate that is due for release on Thursday? Opinions differ wildly on all of these questions, which could imply high volatility in the pair. Technical wise, a move above $1.4740 could signal further upside with $1.4800 and $1.4850 as next target, while a break below the $1.4550 support could be considered as a bearish signal.

EURUSD Support/Resistance: 1.4550/1.4740

GBPUSD

After a short dip below $1.6450, the pair recovered more than 60 pips, showing support from sterling buyers. Overall, market participants remain cautious ahead of the release of official GDP figures. If data shows that UK failed to return to growth during the first quarter, pound selling could occur and send the pair below the $1.6400 level. Conversely, if GDP figures show that the economy managed to overcome the contraction in activity evidenced in Q4, bullish sentiment could prevail and help the GBPUSD challenge the upper border of its trading channel at $1.6600.

GBPUSD Support/Resistance: 1.6400 / 1.6600

EURGBP Support/Resistance: 0.8840 / 0.8930

Major Shares Prices As At - 21 / 04 / 2011

admin — Tue, 26 Apr 2011 22:00:00 +0000

Microsoft – United State, shares open trading on Thursday, April 21, 2011 at 25.73, closing 25.49, losses equaled – 0.24. The price movement for the day was between 25.84 high and 25.32 low. Trading on Microsoft shares has been bearish - that means suffering from a downward trend; since January 2011 with little bullish (upward) opposition noticed on March 21^st resulting into price bound. The closing price was seen cutting through the chat on Thursday as if suggesting the company’s all time Average Price since 2003, which means investors have a 50 – 50 chance of making profits as well as losses but presently we can give it to the bears.

Total – France, shares were traded on Thursday, April 21, 2011 on a bright note, opened price was 42.01, closed price 42.07, profits equaled + 0.06. The share price traded between 42.29 high and 41.79 low on this day. Investors have shown no love lust for the Total shares since the beginning of April, generally trading has been within the low price ebb at a price bound for the Total shares.

Google – United State, shares were traded between 527.91 to 522.42 share prices on Thursday, April 21, 2011. Trading opened at 527.22 and closed at 525.06, the share price dropped by – 02.16 at the close of trading. Investors have further shown lesser appetite for holding the Google shares for two consecutive months, price movement may likely test the supports price holding at 435.46 before retreating.

BMW AG – German, share price appreciated with a gain of + 0.21 on Thursday, April 21, 2011. The market opened trading with 60.85 and closed 61.06, prices moved between 61.16 high and 59.89 low ends for the day. Prices have shown little appeal to buyers by trading within the September 2010 all time high regions to date. Shareholders may be looking forward to recouping their investment at a higher price judging from the stale mate.

Forex Newsletter - 26 / 04 /2011

admin — Tue, 26 Apr 2011 21:53:00 +0000

Coming Up Today (all times GMT)

USD - Conference Board Consumer Confidence (14:00)
AUD - March CPI (01:30)

USDJPY

Overnight, the Chinese authorities announced a new increase in capital reserve required at the country’s five biggest banks. This new decision is aimed at limiting the expansion of credit in order to fight the acceleration of inflation pressures. In reaction, Asian equities declined and investors flock to the yen which strengthened up to ¥81.60 per one dollar. Technical wise, the USDJPY pair is capped by a negative trend line, with ¥82.00 seen as a major resistance level.

USDJPY Support/Resistance: 81.50 / 82.00

EURJPY Support/Resistance: 118.40 / 119.40

EURUSD

Demand for the euro remained weak yesterday, as all European markets stayed closed for Good Monday. All market participants are waiting for tomorrow’s FOMC statement to update their interest rate expectations for the rest of the year. Their main focus will be to know how the Federal Reserve will conduct the transition period between the end of QE2 (expected in June) and the start of its tightening cycle (scheduled later this year). The longer the transition period will be, the less attractive the US dollar will become.

EURUSD Support/Resistance: 1.4480/1.4590

GBPUSD

The market is waiting to see tomorrow encouraging GDP numbers, after the contraction in activity reported the last quarter. In the meantime, the GBPUSD pair is supported by the $1.6430 support, which represents the 38.2% retracement level of the move from $1.6160 to $1.6600.

GBPUSD Support/Resistance: 1.6430 / 1.6550

EURGBP Support/Resistance: 0.8800 / 0.8860

Forex Newsletter - 18 / 04 / 2011

admin — Mon, 18 Apr 2011 15:29:00 +0000

Coming Up Today (all times GMT)

AUD - RBA Minutes of The Monetary Policy Meeting (01:30)

EURUSD

The market is casting doubt over the capacity of Greece to honor the debt repayment scheduled by the IMF and the EU. In reaction, the euro witnessed renewed selling pressures and tested overnight the $1.4350 support. A default of Greece could have strong repercussion on the European banking system and could prompt the ECB to stop its tightening process. In this context, the EURUSD pair could trend lower, with $1.4300 as next target.

EURUSD Support/Resistance: 1.4350/1.4430

EURJPY Support/Resistance: 118.90/120.00

GBPUSD

Sterling demand has remained resilient, despite the absence of significant news. Over the last trading sessions, the GBPUSD pair has found solid support above the $1.6280 level while failing to cross the $1.6360 resistance. Looking forward, the pound could attract speculative flows, ahead of the release Wednesday of the MPC meeting minutes.

GBPUSD Support/Resistance: 1.6280 / 1.6360

EURGBP Support/Resistance: 0.8800 / 0.8860

USDJPY

A disappointing earnings season in the US – combined with renewed signs of sovereign risks in Europe – has tempered investors’ optimism and favored demand for the safety of the Japanese yen. Over the last week, the USDJPY pair has been moving in a bearish channel, eyeing ¥82.70 as next support. As long as commodity prices will remain at peak level, market participants will continue to lower their forecast for consumer demand and corporate earnings, thus pushing demand for safe-haven assets higher.

USDJPY Support/Resistance: 82.70 / 83.40

Forex Newsletter - 14 / 04 / 2011

admin — Thu, 14 Apr 2011 17:36:00 +0000

Coming Up Today (all times GMT)

G20 Meeting (All Day)
USD - PPI & Weekly Jobless Claims (12:30)
GAS - Weekly Inventories Report (14:30)
CNY - CPI & Q1 GDP (02:00)

EURUSD

Talks about a possible restructuring of the Greek debt have contributed to temper the bullish bias on the euro. Yesterday, the EURUSD pair failed several times to cross the $1.4520 resistance line, as investors considered the potential effects that such repackaging could have on European banks. Also, French officials lowered their 2012 growth forecast from 2.5% to 2.25%, on concerns that inflation would dampen global consumer demand.

EURUSD Support/Resistance: 1.4410/1.4520

EURJPY Support/Resistance: 120.20/121.50

GBPUSD

For the three months to February 2011, UK unemployment rate surprisingly decreased from 7.9% to 7.8%, while the claimant count slightly rose by 700 in March. On the news, the pound sterling declined shortly to $1.6240, before rebounding and crossing the $1.6300 level. Looking forward, a clear break above the $1.6310 mark would open the way to further upside towards $1.6370 and $1.6400.

GBPUSD Support/Resistance: 1.6240 / 1.6370

EURGBP Support/Resistance: 0.8860 / 0.8900

USDJPY

Over the past days, several voices have indicated that the Federal Reserve would be well advised to avoid tightening its monetary policy too soon. This has contributed to some weakness in the US dollar and pushed the USDJPY below the ¥84.00 mark. Tonight, investors will be reviewing China’s Q1 GDP. If data shows a slowdown in growth, it could boost demand for safe haven and pushed the yen higher versus the dollar.

USDJPY Support/Resistance: 83.40 / 84.00

Forex Newsletter - 13 / 04 / 2011

admin — Wed, 13 Apr 2011 14:05:00 +0000

Coming Up Today (all times GMT)

8:30am GBP Claimant Count Change
12:30pm USD Core Retail Sales
2:30pm USD Crude Oil Inventories
2:30pm CAD Monetary Policy Report
3:15pm CAD BOC Press Conference

The US Dollar yesterday got weaker against major currencies after the announcement of the worst than expected Trade Balance news, the Aussie jumped up to the 1.0520 finding resistance at that level while the 1.0420 is holding the currency pair to fall lower. The US dollar versus the Japanese Yen has slipped on Wednesday with some traders looking for fresh opportunities to put on bets against the Yen. Resistance level for the USDJPY is at the 84.16 and support level is at the 83.81. Against the Swiss Franc the US dollar paused between the 0.8986 resistance level and the 0.8939 support level after falling below the record level of 0.90.

EURUSD

The EURUSD forex pair on Tuesday jumped up to the 1.4520 resistance level breaking the previous high due to US news about the Trade Balance. Interest rates differentials between the Euro and the US Dollar are expected to continue to support the common currency. Furthermore the Euro was boosted due to that China reported that is willing to buy more Spanish debt, this helped the Spanish yields to fell and has further supported Euro. The Euro is now trading at the 1.4473 with the 1.4394 being a solid support level and the 1.4520 expected to hold the short term uptrend.

Support/Resistance 1.4375/1.4520

GBPUSD

The cable was in corrective mood the last trading sessions and at the moment is trading in a narrow band range between the support level at the 1.6244 while at the 1.6261 a solid resistance level is created. On Wednesday market participants are focused on labor market data for evidence that the private sector is making up for job losses at the public sector, also if the currency continue lower this will represent buying opportunities according to FX strategists.

Support/Resistance: 1.6244/1.6261

Forex Newsletter - 12 / 04 / 2011

admin — Tue, 12 Apr 2011 17:32:00 +0000

Coming Up Today (all times GMT)

9:30am GBP CPI
10:00am EUR German ZEW Economic Sentiment
1:30pm CAD Trade Balance
2:00pm CAD Overnight Rate

The US Dollar from Monday evening and until now has been in a correction across the board against the most of its counterparts. Janet Yellen and William Dudley, said on Monday that the US central bank should stay stick to its super-easy monetary policy, arguing that inflation is not a threat and unemployment remains too high. The greenback found support yesterday against a basket of major currencies after plumbing to 16-month low. The US dollar versus the Japanese Yen has been in a corrective mood after a rally the last week. The Japanese currency is on a slippery slope and the Japan’s central bank ultra easing policy has made the yen the funding currency of choice in carry trades. Against the Swiss Franc the US dollar is in a downtrend making new lows down to the 0.9018 support level and it was lastly seen at the 0.9040. The Australian is in an uptrend from the previous week and created a solid resistance at the 1.0582 on Monday and today is pulling back, it was lastly seen at the 1.0424.

EURUSD

The EURUSD forex pair early on Tuesday is correcting from the new highs that did on the previous trading sessions, however the uptrend persist and a reversal indication is not yet seen. Interest rates differentials between the Euro and the US Dollar are expected to continue to support the common currency following the ECB’s decision to increase rates by 25 basis points. Analysts say the sentiment is extremely bearish for the USD, Commodities Futures Trading Commission’s latest report showed that all currencies are net long against the USD except the JPY currency. The Euro is now trading at 1.4387 with the 1.4421 being a solid resistance level and the 1.4349 expected to hold the short term downtrend.

Support/Resistance 1.4349/1.4421

GBPUSD

The cable was up to a new high since January 2010 and is now indicating a reversal at the short-term trend. The forex pair has penetrated the 1.6315 support level, now resistance and is now trading at the 1.6292 level, while the 1.6254 support level is expected to hold the prices. Andrew Sentance member at the Monetary Policy Committee said on Sunday that BOE should raise interest rates gradually to fight back the rising commodity prices, a falling pound, a stronger global economic recovery and the wages increase.

Support/Resistance: 1.6254/1.6315

Morning Forex Review - 11/ 04 / 2011

admin — Mon, 11 Apr 2011 16:43:00 +0000

Coming Up Today (all times GMT)

No important Economic News

The US Dollar early on Monday remained steady against a basket of currencies as the market did not yet chose a direction for the coming week. The greenback has lost ground the previous week and there was discussion of whether the dollar lost its appeal as a safe-haven currency while the Swiss Franc is doing much better. The US dollar versus the Japanese Yen has been in a range bound early in the Monday morning between the 85.39 resistance level and the 84.61 support level. Against the Swiss Franc the US dollar is in a downtrend making new lows down to the 0.9057 level and found support there while the 0.9198 level is expected to hold any bounce up. The Australian is in an uptrend from the previous week and created a solid resistance at the 1.0582 level while the 1.0413 level is expected to hold any correction down.

EURUSD

The EURUSD forex pair closed at new highs since October 2010 after the interest rates hike by 25 points. Having in mind firstly that inflation is above the 2 percent ECB’s target and secondly the rising Oil prices due to Libya turmoil, the ECB has taken the decision to increase the rates. The Euro touched the 1.4487 resistance level on Friday evening and the 1.4348 level is expected to hold any pull back.

Support/Resistance 1.4348/1.4487

GBPUSD

The cable was up to a new high since January 2010 and is now trading close to its new high, it went up to 1.6426 resistance level and then pulled back down to the 1.6323 support level, investors are expecting a raise in the interest rates by the BOE by the end of the year as inflation is above the target and higher Oil prices have a positive effect on inflation as well.

Support/Resistance: 1.6323/1.6426

Morning Forex Review - 07 / 04 / 2011

admin — Thu, 07 Apr 2011 13:26:00 +0000

Coming Up Today (all times GMT)

JPY - BoJ Monetary Policy Statement (Tentative)
GBP - MPC Rate Statement (11:00)
EUR - ECB Rate Announcement (11:45) & Press Conference (12:30)
CAD - Building Permits (12:30)
USD - Weekly Jobless Claims (12:30)
GAS - Weekly Storage Report (14:30)

USDJPY

Expectations of widening interest rate differentials between improving economies and Japan are reviving yen-funded carry trades. In the aftermath of the tsunami, investors are taking advantage of the BoJ zero interest policy to sell yen against higher-yielding currencies (AUD, NZD, CAD, EUR, CHF). In this context, all JPY crosses are moving in a bullish channel, a trend that is likely to continue if the Bank of Japan increases its lending facilities to avoid downward pressure on the economy.

USDJPY Support/Resistance: 84.70/85.90

EURJPY Support/Resistance: 121.50/123.00

GBPJPY Support/Resistance: 138.25/140.00

EURUSD

Yesterday, the EURUSD pair was almost unmoved by Portugal’s request to access the emergency lending program of the European bail-out fund. Currently, all eyes are waiting for today’s ECB rate announcement (11:00 GMT) with one question on everyone’s mind: will the ECB interest rate hike be followed by many other? If Chairman Jean-Claude Trichet indicates that the ECB is considering a gradual normalization of its policy, the euro could extend its gains, with $1.4400 and £0.8820 as next targets. Conversely, if the market sees evidence of a more dovish stance, the economic troubles of Portugal and their implications for Spain could re-surface and trigger profit-taking towards $1.4200 and £0.8700 support levels.

EURUSD Support/Resistance: 1.4200/1.4400

EURGBP Support/Resistance: 0.8750/0.8820

GBPUSD

Yesterday, the NIESR research institute projected first quarter‘s GDP growth at 0.70% in the UK. This encouraging data helped counterbalance the negative announcement of a slowdown in UK production between January and February. Altogether, the UK economy is still sending mixed signals - a situation that is likely to convince BoE members to leave interest rate unchanged, until more signs of recovery materialize. Technical wise, the GBPUSD pair is supported by the $1.6260 and $1.6220 support levels.

GBPUSD Support/Resistance: 1.6220 - 1.6260 / 1.6350

Morning Forex Review - 06 / 04 / 2011

admin — Wed, 06 Apr 2011 13:10:00 +0000

Coming Up Today (all times GMT)

GBP - Halifax HPI m/m (07:00)
GBP - Manufacturing Production m/m (08:30)
CAD - Ivey PMI (14:00)
USD - Crude Oil Inventories (14:30)

EURUSD

The euro hit a high in the global session against the U.S. dollar and a fresh 11-month peak against the Japanese yen on Tuesday, lifted by an influential U.S. think-tank report on European Central Bank monetary policy. The euro was up 0.9 percent at 120.63 yen after hitting an 11-month high of 120.69 while against the dollar, the euro was flat at $1.4221 just below a session high of $1.4245 and near a five-month high of $1.4268 touched on Monday.

EURUSD Support/Resistance: 1.4150/1.4265

GBPUSD

Sterling extended gains against the U.S. dollar on Tuesday, rising 1 percent and hitting a fresh two-week high, drawing support from unexpectedly strong UK economic service sector data. The British pound also rallied against several currencies. Sterling hit a high of $1,6279, the highest since March 23. Sterling also rose against the euro, which fell 0.9 percent to 87.35 pence also surged 1.6 percent against the yen to 137.85.

GBPUSD Support/Resistance: 1.6220 / 1.6339

Morning Forex Review - 04 / 04 / 2011

admin — Mon, 04 Apr 2011 14:01:00 +0000

Coming Up Today (all times GMT)

GBP Construction PMI (08:30)
CAD BOC Business Outlook Survey (14:30)

Euro extended its gain while yen was seen broadly weaker, more Bank of Japan bonds were bought while BOJ set to retain easy monetary policy according to the IMF, and meanwhile the Asian stocks hit three years high. The Australian dollar hit new peak, and the kiwi also climbed. The employment report from the US, which also showed jobless rate slipping to 8.8 percent last month, did push the dollar above 84 yen, its highest in more than six months, as traders expected the Japanese interest rates to stay at a record low.

EURUSD

On Friday even the addition of more than 200,000 U.S. jobs wasn't enough to boost the dollar against the euro, and it may have more losses in store as markets brace for a euro zone interest rate hike this week. The market expects the European Central Bank to raise rates this week, the first of what some forecast will be several rate increases throughout the year. Last week the euro rose 0.5 percent to $1.4231 well off a $1.4059 low. The currency rose some 6 percent in the 27 days from its low of $1.3428 on Feb. 14 to $1.4249 last week, the 2011 high. A bank stress test indicated Irish banks need another 24 billion Euros to plug potential losses, but neither that revelation nor trouble in similarly indebted Portugal has been enough to push the euro below $1.40 in recent weeks.

Support/Resistance 1.4195/1.4267

GBPUSD

The Sterling fell against the dollar last week on Friday after better-than-expected US non-farm payrolls data strengthened the chances that monetary policy in the US would need to be tightened soon. The Cable hit a session low of $1.5987 against the dollar after the data, not far from a two-month low of $1.5937 hit last month. Sterling was also weighed down by weaker-than-expected British manufacturing activity growth in March. Markets expect the Bank of England to raise UK interest rates in July, with another rise factored in by year-end leaving pound vulnerable.

Support/Resistance 1.6103/1.6170

Morning Forex Review - 31/ 03 / 2011

admin — Thu, 31 Mar 2011 14:25:00 +0000

Coming Up Today (all times GMT)

CAD - GDP m/m (12:30)
USD - Unemployment Claims Change (12:30)
USD - Natural Gas Storage (14:30)

Asian stocks traded higher in early morning trading, on the back of another day of rally for US equities, to later give back a lot of the gains as global concerns still persist. On Thursday, investors will be focusing their attention on the weekly unemployment claims report from the US. However, its significance is somewhat reduced this time, as traders are awaiting for the more important monthly NFP report that is due this Friday. A positive report could act as dollar positive, since it would suggest that more jobs would allow the Fed to tighten policy faster than later.

EURUSD

The pair was supported by fresh comments from Fed's Bullard overnight, with regards to the fact that there was no consensus amongst the members to cut short the QE II program. Furthermore, the common area currency received additional support when an ECB official said that the intention is to raise rates gradually, which some traders took as suggesting that more than one or two rate hikes may be due to come.

Support/Resistance: 1.4050/1.4195

GBPUSD

A modest rebound in January UK retail sales and service sector output have somewhat alleviated concerns of a very fragile recovery. However, the pound could still be underperforming its main rivals, especially against the euro, should the ECB move forward with raising interest rates next week.

Support/Resistance: 1.6010/1.6145

Morning Forex Review - 30 / 03/ 2011

admin — Wed, 30 Mar 2011 14:45:00 +0000

Coming Up Today (all times GMT)

CHF - KOF Economic Barometer (09:30)
USD - ADP Non-Farm Employment Change (12:15)

Risk appetite has been on the rise on Wednesday, despite a disappointing US consumer confidence report on Tuesday. The Nikkei has been trading higher, up by about 2%, mainly due to Japanese exporters' shares benefitting from a declining yen. The greenback traded as high as 83, a three-week high against the yen.

EURUSD

The pair received a boost from a higher close on Wall Street, benefitting from the rise in risk appetite. Furthermore, a declining yen across the board also helped the euro gain momentum. However, hawkish comments from Fed's Fisher gave solid support for the greenback and limited euro gains.

Support/Resistance: 1.4050/1.4150

GBPUSD

The pound dropped to a five-month low against the euro on Tuesday, as speculation mounts that the ECB would move ahead in raising interest rates well before the BOE takes any action, trading as high as 0.8817 on the session. The sterling also remained vulnerable against the dollar as the Fed has recently engaged in a rather hawkish rhetoric, mainly through Fed's Bullard and Fisher.

Support/Resistance: 1.5940/1.6055

Morning Forex Review - 29 / 03 / 2011

admin — Tue, 29 Mar 2011 15:57:00 +0000

Coming Up Today (all times GMT)

GBP - Current Account (08:30)
USD - CB Consumer Confidence (14:00)

Asian equities have been trading lower this Tuesday morning, after Wall Street also finished lower on the previous session. On the one hand, investors have been taking profits off the table ahead of the upcoming second quarter earnings season. On the other hand, ongoing Mid-East tensions and talk of nationalizing Tokyo Electric - the Japanese operator of the Fukushima nuclear plant - certainly didn't help in improving the investment climate.

EURUSD

Hawkish comments from ECB's Trichet on Monday have increased speculation that the ECB would move ahead with a 25 basis point rate hike during its upcoming meeting in April. The common area currency took a boost against the dollar to trade towards the 1.41 level, after trading as low as 1.4020 previously. However, many analysts say that the euro's momentum is still hindered by pending results on the EU bank stress tests, where the Irish banking system and its capital shortfalls are expected to be in focus.

Support/Resistance: 1.4020/1.4115

GBPUSD

The cable took a dive on Monday, trading as low as 1.5937 against the dollar, as Forex speculators have been questioning the BOE's ability to raise interest rates, given the recent concerns for a slow-down of the economic recovery. Furthermore, hawkish comments from a Fed official on Monday, about the fact that a strong US economy is sustaining the greenback's role as global reserve currency, has further helped in bolstering the dollar against the sterling.

Support/Resistance: 1.5910/1.6050

Morning Forex Review - 28 /03/2011

admin — Mon, 28 Mar 2011 13:35:00 +0000

Coming Up Today- March 28, 2011 (all times GMT)

USD - Pending Home Sales m/m (14:00)

Risk aversion has been on the rise on Monday, with Asian equities slipping on the back of persistent concerns over the Middle East tensions and the Japanese situation. Without any major impact news coming up from Europe today, investors will be focusing their attention on the US Pending Home Sales this afternoon, looking for signs that the recent decline is finally bottoming out.

EURUSD

Political uncertainty for Angela Merkel's ruling party, after losing power in a regional stronghold on Sunday, has kept the pressure upon the common area currency. However, expectations for an ECB rate hike this coming month have limited the euro's decline against the dollar. Even so, hawkish comments from Fed's Plosser and Bullard over the weekend have reduced speculation that the ECB would be the only one to tighten monetary policy in the coming months.

Support/Resistance: 1.4020/1.4110

GBPUSD

The pound has recently taken a beating against both the euro and the greenback. Increasing worries for a fragile UK economic recovery, as indicated by weaker retail sales and softer growth projections last week, have further scaled back monetary tightening expectations.

Support/Resistance: 1.5960/1.6065

Morning Forex Review - 24 / 03 / 2011

admin — Thu, 24 Mar 2011 14:06:00 +0000

Coming Up Today- March 24, 2011(all times GMT)

EUR - Flash PMI (09:00)

GBP - February’s Retail Sales (09:30)

USD - Durable Goods Orders & Jobless Claims (12:30)

GAS - EIA Weekly Inventories (14:30)

EURUSD

Wednesday, the euro extended its decline below the $1.4150 support level, after Portuguese opposition rebuffed the 'last chance' austerity plan submitted by the socialist government. This vote of defiance triggered the resignation of Prime Minister Socrates and pushed an already-ailing economy into political crisis. In the short term, uncertainties surrounding Portugal could affect Spanish banks and - by extension - increase selling pressure on the common currency, with next supports seen at $1.4050 and $1.3900. In this context, investors will be following with close attention the EU Economic Summit that will begin today. As Portugal joins the list of bailed-out countries, EU members are expected to reconcile their disputes and act to restore confidence in their currency.

EURUSD Support/Resistance: 1.4000 - 1.4050 / 1.4150 - 1.4180

GBPUSD

As expected, the MPC meeting minutes showed a 6:3 vote to leave interest rate unchanged, a sign that - despite inflationnary pressures - hawkish views expressed by Messrs Sentence, Weale and Dale failed to gain ground inside the committee. In reaction, the sterling was hit by profit taking and broke below the $1.6290 support level. Today, market participants will be reviewing February’s retail sales data. If the report shows a decline in retail sales (due to the effects of VAT hike and rising inflation), the GBPUSD pair could experience more downside and consolidate below the $1.6200 support.

GBPUSD Support/Resistance: 1.6160 - 1.6200 / 1.6290 - 1.6340

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admin — Sun, 13 Mar 2011 15:18:00 +0000

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