The market has now taken out some major resistance by 10,100 to open the door for fresh upside and a bullish continuation over the coming weeks. Next key resistance comes in by the 10,300 area, although, with daily studies now overbought, look for opportunities to buy on dips back towards 10,000 where a fresh higher low is now sought out.
ForexNews.comSelasa, 22 Mei 2012
United States of America:American Eagle CFO Joan Hilson quits
United States of America:American Eagle CFO Joan Hilson quits
American Eagle Outfitters Inc. announced that its chief financial officer, Joan Hilson, is stepping down. An active search for a successor is currently underway. Ms. Hilson will work with the company through the end of July 2012 to ensure an orderly transition.
American Eagle Outfitters Inc. announced that its chief financial officer, Joan Hilson, is stepping down. An active search for a successor is currently underway. Ms. Hilson will work with the company through the end of July 2012 to ensure an orderly transition.Effective immediately, Scott Hurd, AEO’s vice president and controller, will lead day-to-day management of the finance team, and assume the roles of interim principal accounting officer and interim principal financial officer until a successor is appointed.
Robert Hanson, chief executive officer, stated, “Joan has been a dedicated member of the AEO team for more than six years. On behalf of the company, I’d like to thank her for her contributions. I also appreciate Joan’s support during my transition and wish her all the best in her future endeavors.â€
“AEO is a great company with tremendous potential,†said Hilson. “I am grateful for the experience of working with such a talented group of people.â€
American Eagle Outfitters Inc. is a leading global specialty retailer offering high-quality, on-trend clothing, accessories and personal care products at affordable prices under its American Eagle Outfitters, Aerie and 77kids brands.
Senin, 21 Mei 2012
Greece must buy into austerity or exit euro: Britain
Greece must buy into austerity or exit euro: Britain
CHICAGO: British PM David Cameron has issued his bluntest warning yet to Greece that voters need to "meet their commitments" as a member of the eurozone in elections next month or leave the currency union.
ForexNews.com
Speaking at the Nato summit in Chicago, and three days before a crucial EU meeting, the PM said the leaders of the eurozone must now prepare for either outcome and be ready for the repercussions of the Greek vote, set for 17 June. The poll was called after Greek parties failed to form a new government earlier this month.
"It has to be absolutely clear there is a choice: they can vote to stay in the eu rozone and meet their commitments , or they can vote to give up on their commitments and effectively give up on the eurozone," he said.
No one could tell Greece's parties what to do, but Cameron can have left them in no doubt of how he feels. "The choice Greece faces is maintaining its commitments and maintaining its place in the eurozone or deciding that's not the path it wants to take.
Cameron also defended the German Chancellor, Angela Merkel, whose insistence on austerity has been blamed for preventing the G8 summit from making progress. "Obviously she wants to make sure that countries in the eurozone that signed up to all sorts of commitments meet those commitments . She did show some flexibility in terms of what more can be done on the growth agenda."
While Cameron appealed to Greek voters to face reality , the Deputy P M, Nick Clegg, pleaded with German taxpayers to be patient with the Greeks.
"Whilst I have a huge amount of sympathy with German taxpayers, it is not sustainable to believe that the eurozone can thrive through fiscal discipline alone," he said.
The Independent
Illicit outflow of money from India pegged at USD 104 billion
Illicit outflow of money from India pegged at USD 104 billion
The illicit outflow of money from India has been estimated at USD 104 billion as of December last year, according to a report of the Global Financial Integrity (GFI). This has been disclosed by the White Paper on black money tabled in Parliament on Monday.
But the report does not give any estimate of the government about either black money in India or the amount stashed away in banks abroad.
GFI is an international agency that promotes national and multi-lateral policies, safeguards and agreements aimed at curtailing the cross-border flow of illegal money.
During the same period, the illicit outflow from China has been estimated by the GFI at USD 2,467 billion. The report quoted a 1984 estimate to Rs 37 crore in black money in India as assessed by the National Institute of Public Finance and Policy.
The White Paper said that one estimate made by Swiss national banks put the amount of Indian deposits in Swiss banks at about Rs 9,295 crore by the end of 2010.
The Swiss Ministry of External Affairs confirmed these figures when a reference was made by the Indian Ministry of External Affairs to them.
The paper said that from the table available on the website of Swiss national banks, it can be seen that the deposits of Indians in Swiss banks have decreased from Rs 23,373 crore in 2006 to Rs 9,295 crore in 2010.
ForexNews.comDaily Forex Analysis – May 21, 2012
Daily Forex Analysis â€" May 21, 2012
[unable to retrieve full-text content]by forexcycle.com EURUSD Analysis. Being contained by 1.2624 (Jan 13 low) support, EURUSD rebounds from 1.2642 and breaks above the downward trend line on 4-hour chart, suggesting that a cycle bottom has been formed at 1.2642. Range trading between 1.2642 and 1.2900 would likely be seen in a couple of days. Another fall to re-test 1.2624 previous low support could be expected, a breakdown below this level will signal resumption of the long term downtrend from 1.4938 (May 4, 2011 high) ForexNews.com
[unable to retrieve full-text content]by forexcycle.com EURUSD Analysis. Being contained by 1.2624 (Jan 13 low) support, EURUSD rebounds from 1.2642 and breaks above the downward trend line on 4-hour chart, suggesting that a cycle bottom has been formed at 1.2642. Range trading between 1.2642 and 1.2900 would likely be seen in a couple of days. Another fall to re-test 1.2624 previous low support could be expected, a breakdown below this level will signal resumption of the long term downtrend from 1.4938 (May 4, 2011 high) ForexNews.com
US Dollar Index Classical Technical Report 05.21
US Dollar Index Classical Technical Report 05.21
The market has now taken out some major resistance by 10,100 to open the door for fresh upside and a bullish continuation over the coming weeks. Next key resistance comes in by the 10,300 area, although, with daily studies now overbought, look for opportunities to buy on dips back towards 10,000 where a fresh higher low is now sought out.
ForexNews.comSerbian dinar continues to drop against euro
Serbian dinar continues to drop against euro
Source: Tanjug
Source: Tanjug
BELGRADE -- The Serbian dinar is down by eight para or 0.1 percent Monday, the National Bank of Serbia (NBS) has announced.
The home currency therefore dropped to an official middle exchange rate of RSD 113.3754 for one euro.
Since the beginning of 2012, the central bank has sold a total of EUR 838.5mn on the interbank foreign exchange market so as to ensure smooth running of the foreign exchange market.
This year, the dinar hit its highest level against the single European currency on January 11 with the exchange rate at RSD 103.6922.
The dinar is 1.7 percent down on this time last month, and 14.4 percent down on the year.
On Friday, May 18, the indicative dinar-versus-dollar exchange rate was at RSD 89.0896, recording a 0.4 percent increase from the day before.
The dinar weakened against the U.S. dollar by 4.8 percent when compared to the level a month ago, and by 23.9 percent if compared to a year ago.
ForexNews.comMinggu, 20 Mei 2012
Dollar could fall if Greece bails
Dollar could fall if Greece bails
Currency strategists say if Greece pulls out of the eurozone the dollar could fall much further.
Jim Eagles
THE Australian dollar could fall below US90¢ if Greece pulls out of the eurozone, the chief currency strategist at Commonwealth Bank warned as leaders from the G8 group of nations worked over the weekend to combat the region's financial turmoil.
The dollar fell to US98.24¢ on Friday, its lowest level in nearly six months, after Moody's downgraded 16 Spanish banks, and the Fitch Ratings agency reduced Greece's credit rating to CCC on fears that anti-austerity parties would win the country's new elections.
Currency strategists say if Greece pulls out of the eurozone the dollar could fall much further.
Last week the S&P/ASX200 suffered its worst five-day return since September, shedding 5.6 per cent in value. The local bourse shed 110.9 points on Friday, or 2.67 per cent, to 4046.5 points, its biggest one-day loss since November.
Not helping the local market were increasing concerns that the Chinese economy is slowing appreciably. The big miners were among the stocks sold off the most last week.
Read more at Brisbanetimes.com.au
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