Stock market technical analysis
- Lugar’s Tea Party Loss Dims Republican Senate Prospects – Bloomberg
- Moody’s Bank Downgrades Risk Choking European Recovery – Bloomberg
- New Greek Poll Looms as Government Efforts Flounder – Reuters
- China Cuts Gasoline, Diesel Prices – WSJ
- Europe’s Markets Hit by Greece Fears – WSJ
European Session Summary
Higher yielding currencies and risk-correlated assets were under pressure throughout the overnight sessions, with the main downturn coming during the Asian session while European traders essentially tread water, if not pushing risk lower, ahead of the US cash equity open in New York. As firms try to raise capital amid an accelerate breakdown in the Euro-zone sovereign debt crisis, commodities have been sold-off alongside higher yielding currencies, such as gold and the Australian Dollar.
The Australian Dollar, the day’s worst performing currency, was hit particularly hard earlier today after Prime Minister Julia Gillard called to return the budget to a surplus in order to give the Reserve Bank of Australia more room to ease. A stronger fiscal policy, she noted, would give the RBA “maximum room” to shift monetary policy and help exporters struggling with an elevated Australian Dollar. The prime minister’s position here is clear: shift the burden of helping the economy from the government to the central bank; this in turn should yield another rate cut in the coming months. In fact, Credit Suisse Overnight Index Swaps are now pricing in a 90.0 percent chance of a 25.0-basis point rate cut at the policy meeting in June.
Source: Swing Trading Daily
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Unicorn Being a Jerk2010-08-26 09:17:06 by Snakebyte_XX
Here are my favorite moments from this book:
Ignoring a homeless person asking for money.
Destroying a sandcastle.
Trying to peek at breast-feeding womens nipple.
Sacrificing his one and only son to higher power.
Burning ants with magnifying glass.
Hoping his son isnt gay.
Tearing out the last page of a library book.
Carbon emissions cap-and-trade charade2009-03-13 21:26:21 by Jupiter_God
Planet's health doesn't belong in free market's hands
SANTA MONICA, Calif. (MarketWatch) -- We should stop talking about putting a cap on carbon pollution and trading clean energy credits. It's madness.
Allowing the "free market" to determine the fate of our health and our planet is not the path to correctness. Aren't we seeing the fallout of the free-market system play out before us now?
Putting the health of our children in the hands of an exchange is insane. Most of us bought into this logic when the stock market was booming and financial engineers made tradable instruments of almost everything -- even risky mortgages. We should have learned our lesson. Yet there's still a movement for the United States to embark on a carbon-credit trading program based on a largely...
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