at
10:41 PM
Posted by
Ali
FXstreet.com (Barcelona) - USD/CHF is back close to 1.1700 level after reaching a fresh 4-weeks high at 1.1743. Currently, the pair is trading around 1.1695/1.1705, 0.10% increases from today's opening price.According to Valeria Bednarik, FXstreet.com collaborator, bullish bias remains intact: "Bullish strength remains intact in the pair, and the pair is consolidating close to today’s high, moving since past Asian opening in a tight range. Above 1.1716 that continues to be today’s high, also a previous weekly high and the pair could continue dominant trend. Indicators turned flat due to last hours consolidation, no clear sign from there. Under 1.1645 zone, some selling pressure could be seen."
at
10:39 PM
Posted by
Ali
Brazil Govt Oks BRL4 Bln Credit For States To Face Slowdown BRASILIA (Dow Jones)--Brazil's National Monetary Council in an extraordinary meeting late Friday approved 4 billion reals ($1.83 billion) in credit for state governments, the central bank said Monday. The loans, to be extended by the country's BNDES national development bank, will carry an interest charge of Brazil's TJLP long-term interest rate plus 3% annually. The TJLP interest rate is currently set at 6.25% annually. The loans come with a repayment period of eight years following a one-year grace period. According to the government, the loan funds must be used for investments and cannot be applied toward current spending. The extension of the loan funding for states comes following the approval of BRL1 billion in federal loans for cities last week. Brazil's states and cities have seen a decline in tax revenue over recent months following a deceleration of the country's economy. The National Monetary Council is Brazil's highest ranking economic decision-making body. -By Gerald Jeffris, Dow Jones Newswires; (5561) 3335-0832, gerald.jeffris@dowjones.com Click here to go to Dow Jones NewsPlus, a web front page of today's most important business and market news, analysis and commentary: http://www.djnewsplus.com/access/al?rnd=MnB3XRVmzONaVN%2BYqC6tLw%3D%3D. You can use this link on the day this article is published and the following day.
at
10:38 PM
Posted by
Ali
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at
10:37 PM
Posted by
Ali
The Alpari Group, an online provider of Forex trading, is planning to expand globally and add derivatives and commodities on the heels of seeing daily trade volumes exceed $60 billion last year. Alpari U.S. will expand into Brazil and British Columbia, while Alpari U.K. has plans to grown in Japan and Singapore. Additional expansions are currently being discussed. Alpari U.S. also plans to offer futures and precious metals trading this year, with Alpari U.K. planning to launch futures, financial futures, and precious metals trading, said Andrey Vedikhin, co-founder.
at
10:36 PM
Posted by
Ali
WTI crude oil continues to trade below 50 in European session. Although we have been saying that upside for oil price is limited due to weak fundamentals, decline these 2 days was brought by reversal in market sentiment. The black gold's recent rally was driven by improved confidence that global economy will recover in 2H09 but the outbreak of swine in Mexico may potentially delay it.
In our opinion, the negative impact from the flu on oil price may not be as serious as the market anticipated. As many investors compare the current situation with the SARS in 2002, we would like to look back and see what had happened at that time.
