AUD/USD Pullback to Trend Line Creates Buying Opportunity
The pair pulled back to bullish trend line support earlier today, yielding another opportunity to buy ahead of an anticipated rally back to critical resistance at 1.0380 early next week. A massive Dragonfly Doji, on the 1hr chart shows that bulls are ready and willing to buy the unit on any short-term dips.
The 4hr EUR/CAD chart reveals that rates have actually peaked above the longer-term bearish trend line this morning. However, a reversal back to the downside would indicate that the trend remains valid, despite this morning’s pierce. Accordingly, traders may look to sell if the market begins to drop.
Greek PM confident debt talks will be clinched in time - Reuters
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Nigeria's Naira Falls; Trading Limited After Protests Suspended Bloomberg The currency of Africa's largest oil producer slipped 0.2 percent to 162.25 per dollar as of 11:19 am in Lagos, the commercial capital, according to data compiled by Bloomberg. Nigerian labor unions suspended protests while continuing a general strike ...
Hungarian Stocks Drop as S&P Downgrades Rekindle Debt Concerns - Bloomberg
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The cascade of rating downgrades that hit France and eight other euro-zone nations casts fresh doubts over the monetary union's ability to bail itself out of financial crisis and rescue Greece.
Economic distress is driving tens of thousands of skilled professionals from Europe, and many are being lured to thriving former European colonies in Latin America and Africa, reversing well-worn migration patterns.
J.P. Morgan dampened the New Year rally for bank stocks, saying on Friday that its fourth-quarter profit fell 23% from a year ago amid a sharp slowdown on Wall Street.
The euro was pushed further to long-term lows and Asian currencies slipped, as ratings firm Standard & Poor's Friday downgrade of European sovereigns continued to weigh on the common currency and emerging market plays.
Gearing up for an IPO, Facebook must prove itself to investors. In interviews, CEO Mark Zuckerberg and Chief Operating Officer Sheryl Sandberg lay out their strategies.
France and eight other euro-zone countries suffered ratings downgrades on their sovereign debt Friday, sparking renewed global worries over Europe's ability to bail itself out of financial crisis.
PepsiCo late Friday said it has found traces of carbendazim in its Tropicana orange juice, but the juice tested was "below the levels the agencies said raise safety concerns."
Talks aimed at reaching agreement with creditors to cut Greece's debt burden broke down in Athens on Friday, increasing the likelihood that heavy losses will be forced down the throats of unwilling investors.
Orange-juice futures capped a striking week with a 3.7% gain Friday, as investors speculated about how U.S. authorities would treat imports from top producer Brazil.
Aon is moving its corporate headquarters to London from Chicago, a move the firm said will provide greater access to emerging markets and strategic proximity to the Lloyd's of London insurance market.
The chief executive of Lloyds Banking Group, Antonio Horta-Osório, will waive his 2011 bonus, after his recent return from a leave of absence and as pressure mounts on banks over large pay packets.
The Florida lender that failed in 2009 and got a new lease on life when it was bought by a high-profile group of private-equity firms has hired Goldman Sachs to consider a sale.
Two more congressmen have been identified as receiving loans through a controversial Countrywide Financial Corp. program that has prompted a House investigation into whether the fallen mortgage giant gave out loans on favorable terms to win political favor.
