Yen Clears 79.50, Bullish Formation To Take Shape
USDJPY – The ratio of long to short positions in the USDJPY stands at 5.73 as nearly 85% of traders are long. Yesterday, the ratio was at 4.21 as 81% of open positions were long. In detail, long positions are 8.0% higher than yesterday and 3.2% weaker since last week. Short positions are 20.6% lower than yesterday and 15.4% weaker since last week. Open interest is 2.
Yen Clears 79.50, Bullish Formation To Take Shape
USDJPY – The ratio of long to short positions in the USDJPY stands at 5.73 as nearly 85% of traders are long. Yesterday, the ratio was at 4.21 as 81% of open positions were long. In detail, long positions are 8.0% higher than yesterday and 3.2% weaker since last week. Short positions are 20.6% lower than yesterday and 15.4% weaker since last week. Open interest is 2.
Cycle Lows Due for Gold
If something extraordinary is unfolding that sends global equity flows into the last or only perceived safe haven market — gold — then perhaps we have to throw the cycle timing work, and any other “normal circumstance,” out of the window while gold potentially explodes towards new high territory in a hurry.
Of course, such a situation is definitely an outlier.
Highs & Lows: Array BioPharma, NII Holdings, and MEMC Electronic Materials
While Wall Street can’t seem to shake its euro-zone anxiety, it’s some disappointing domestic data that’s amplified the bearish mood on the major market indexes this afternoon…(Read More)
SchaeffersResearch.com Trading Floor Blog
Fitch downgrades Greece to CCC on exits fears; Moody’s cut Spanish regions
Rain of downgrades today, first Moody’s agency cut 4 Spanish regions on doubts regarding the capacity to reach deficit targets and later Fitch spurred Greece exits concerns and decide to downgrade the Hellenic country on possible secession. Fitch Ratings has downgraded Greece sovereign debt from B- to CCC. The agency has revised the country ceiling to B-. The downgrade “reflects the heightened risk that Greece may not be able to sustain its membership of Economic and Monetary Union,” says the
Forex – Chart EUR/HUF Update: Up at m.t ceiling
14:52 (GMT) 17 May 17 May EUR/HUF Daily 14:40 GMT – Yesterday’s alert to a potental reverse above 294-5 was canclled as the market rallied in late trade to close well. With follow through today as well, this market is through the downtrend (l/t trend flat at least) and right on key 299~ resistance- this is a l/t go/ no-go level: push past likely to meet multiple stops at/ just above 300: response sets next l/t trend, [NR] R5: 309.10 18-Jan high R4: 305.50 12-Jan low R3: 302.45 * 50% 2012
FXstreet.com: Technical: Technical Market View
Moody’s downgrades 16 Spanish banks including Santander
FXstreet.com (Barcelona) – As leaked earlier on the day, the downgrade by Moody’s on 16 Spanish…
For more information, read our latest forex news.
Gap posts 18% higher per-share profit
SAN FRANCISCO (MarketWatch) — Gap Inc. reported late Thursday its fiscal first-quarter profit was unchanged at 3 million from year-ago results. On a per-share basis, however, the results were up 18% at 47 cents a share compared with 40 cents a year ago, reflecting a 17% drop in the number of outstanding shares. Revenue for the quarter ended April 28, bolstered by stronger sales at its Banana Republic and Old Navy stores, rose 6% to .49 billion from .3 billion. Analysts polled by FactSet Research had predicted the San Francisco-based apparel maker would earn 46 cents a share on .49 billion in revenue. Gap shares rose 4.6% in after-hours trade, extending their 14% advance over the past 12 months.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
Experts Try Charting the Path for a Euro Exit
Returning to a national currency after more than a decade of using the euro and having its money managed by the ECB would catapult Greece into a financial, legal and political no-man’s land.
Why Warren Buffett Really Likes Newspapers
His affection for print isn’t purely sentimental
