NZD/USD has broken below its key support level on Tuesday as dollar's across-the-board strength weighed on the kiwi currency, and at a near 2 month low, the pair is now testing its 100-day SMA on the daily chart. Momentum indicators clearly suggest the pair is in the oversold zone but a strong technical reversal also need the support of good news from the Euro-zone, traders said.
U.S. home prices fell by 2.0 percent in the third quarter of 2010, after having risen 4.7 percent in the second quarter, according to data from S&P/Case-Shiller Home Price Indices.
While investors currently grapple with a number of very troubling geopolitical and economic issues -- namely the threat of war in Korea and the potential sovereign debt contagion in Europe, interest rate hikes by China, among others – some might take solace in the fact that December has consistently been the best-performing months for U.S. going back more than sixty years.
Stocks tumbled in a holiday-shortened session on worries over threats of war by North Korea and pervasive fears that the euro zone sovereign debt crisis may spread to Spain and Portugal. Apparently, traders saw little solace in what appears to be shaping up as a strong Black Friday on the retail front.
Standard & Poor’s said it cut its long-term sovereign credit rating on the Republic of Ireland to 'A' from 'AA-' and its short-term rating to 'A-1' from 'A-1+'.
Credit Suisse expects the S&P 500 index to trade in the 1,100 to 1,300 range, saying that most important potential source of turbulence in equity markets may be the actions of monetary policymakers.
Tyson Foods, one of the largest US chicken producers, reported $213 million in its fourth-quarter profit on lower goodwill impairment charges. However, the company's shares were down about 3 percent in the pre-market hours as its sales came in below market expectations.
Staples Inc., the world's largest office products company, reported 7 percent rise in quarterly profit, which also came in above market estimates, as it managed to keep a lid on its costs.
Retail giant Walmart reported 9 percent growth in its quarterly profit on strong sales at its international operations and raised its fiscal 2011 earnings outlook.
Standpoint Research has initiated coverage on Cisco Systems with a 'buy' rating and a price target of $24 and analyst Ronnie Moas said the market has overreacted to the company's weak outlook.
Stocks on major U.S. indices opened higher as takeovers and faster-than-estimated growth in retail sales fueled optimism in the economy.
U.S. stocks fell in early trade on Friday as speculation over interest rate hike in China and concerns about euro-zone sovereign debt weighed on the sentiment.
Indian equity markets are trading lower by 328.30 points or 1.59 percent on Friday with all sectoral indices are in the negative side.
Consumer confidence fell to its lowest level since February in September, underscoring lingering worries about the stremgth of the economic recovery, while home prices dipped in July.
Single-family home prices dipped in July, hovering above multi-year lows absent the homebuyer tax credit that ended in April, according a Standard & Poor's/Case-Shiller home price report on Tuesday.
Robert Prechter speaks to IBTimes about mass psychology in the financial markets and specifically about the Greek sovereign debt crisis.
The Australian Dollar has opened around USD0.9000 this morning after trending higher in the early part of the European session.
Wall Street edged higher on Thursday on strong corporate earnings including Exxon Mobil and after a drop in weekly jobless claims offered a glimmer of hope for the anemic labor market recovery.
Stocks were lower and the S&P 500 remained below a key technical level on Wednesday as conflicting reports showed improved corporate earnings and falling durable goods orders.
The S&P 500 struggled to break a key technical level as conflicting reports showing improved corporate earnings and falling orders for the most expensive manufactured goods kept U.S. stocks slightly lower on Wednesday.
Wall Street stocks fell on Wednesday as the S&P 500 struggled to break through a key technical level after an unexpected decline in durable goods orders weighed on market sentiment.
The euro slipped from 11-week highs and Asian stocks marked time on Wednesday as a recent rally lost steam after a drop in U.S. consumer confidence, while the Australian dollar fell on a sharp slowdown in inflation.
