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Hedgehogs.net's connections' blogs

Oil rebounds from session lows as dollar weakens

May 12, 2011 by SteveT   Comments (0)

Oil rebounded on Thursday in choppy trade, as a stronger dollar pulled crude up off losses struck after the International Energy Agency cut its global demand forecast and China further tightened its bank reserve requirements.

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Irish Public Expenditure Minister on the Wires

May 12, 2011 by SteveT   Comments (0)

States that the rescheduling of Ireland IMF/EU debt desirable and will be dealt with. He adds that it is unreasonable if interest rate reductions are available to others and not Ireland.

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Bank Indonesia Holds Benchmark Interest Rate at 6.75%

May 12, 2011 by CentralBankNews   Comments (0)

Bank Indonesia maintained its benchmark interest rate unchanged at 6.75% but noted inflation risks.  Indonesia reported headline consumer price inflation of 6.16% in April, down slightly from 6.65% in March, and just outside the inflation target of 5% +/-1% in 2011 (which changes to 4.5% +/-1% in 2012).  The Indonesian economy expanded 6.5% on an annual basis in Q1 this year, slightly slower than 6.9% in Q4 2010.

www.CentralBankNews.info

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Uruguay Raises Reserve Requirements 300bps

May 12, 2011 by CentralBankNews   Comments (0)

The Banco Central del Uruguay raised reserve requirements for banks on peso deposits by 300 basis points to 15% from 12% and 300 basis points on foreign currency deposits to 18% from 15%.  The Bank said "In light of internal price increases and the international context, we understand that we must take additional measures beyond the benchmark rate,".  Uruguay reported inflation of 8.34% in April, above the government's 3%-7% inflation target range.

www.CentralBankNews.info

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Euro / US Dollar – 12/05/2011 12:00 GMT

May 12, 2011 by SteveT   Comments (0)

EURUSD - Euro / US Dollar

Euro / US Dollar

Weekly Daily Hourly
Trends
Resistances 1.438 1.427 1.4235
Supports 1.402 1.405 1.4125
Our strategy
Entry Stop Target 1 Target 2
1.417 1.421 1.4125 1.405

Forex CorrelationForex Correlation

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Euro / Yen – 12/05/2011 11:50 GMT

May 12, 2011 by SteveT   Comments (0)

EURJPY - Euro / Yen

Euro / Yen

Weekly Daily Hourly
Trends
Resistances 116.05 115.6 115
Supports 111.9 113.6 114.2
Our strategy
FLAT

Forex CorrelationForex Correlation

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Gold’s Weakness Contained in Rising Channel While Silver Slid Lower

May 12, 2011 by SteveT   Comments (0)

The decline in gold from near 1525 was contained in a rising channel. In the 4H chart, we also see the 200SMA supporting price action. This supports a more "flat" correction in gold with support at 1465 and resistance at 1575.

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2 New IPOs with Strong Upside

May 12, 2011 by SteveT   Comments (0)

2 New IPOs with Strong Upside

A dozen years ago, Silicon Valley was responsible for one of the most prolific initial public offering (IPO) markets ever seen. Many fortunes were made, as a record 486 companies went public in 1999. The next year was the second-best ever, with 406 additional new issues coming to the market. Of course, many dollars were subsequently lost in that mania and no one wants a return of such frothy days.

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Phoenix New Media shares rise following IPO

May 12, 2011 by SteveT   Comments (0)

SAN FRANCISCO (MarketWatch) — U.S. shares of Phoenix New Media Ltd. jumped on their first day of trade on the New York Stock Exchange Thursday. The American depositary shares of the Chinese media company rose 21% to .30 in recent activity after the 12.8 million-share initial public offering was priced at an ADS. The shares had been expected to price in the to range.

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