Spain Credit Rating Downgraded on Negative Outlook
Spain late Thursday.
Strategies
Crude Spikes Through Channel and Fails….Again
Daily Bars Prepared by Jamie Saettele, CMT As long as price is below 10546 (early month high), look lower towards the December and/or February lows at 94/96. Reward/risk is highly favorable against the April high. Interim support is 10310 and focus is on the bottom of the range at 10180. Bottom Line (next 5 days) – lower
EURUSD Rally Reverses at Early Month Range
DailyBars Prepared by Jamie Saettele, CMT The EURUSD rally failed between former supports at 13250 and 13275. The level is reinforced by the underside of former trendline support as well. Nothing has changed from a trend standpoint as the rally from 12994 is slow, overlapping, and shows no impulsive characteristics. 13170 and 13104 are supports for Friday. Bottom Line (next 5 days): topped and lower?
Breaking News (Starbucks)
Starbuck (SBUX, quote) earned 40 cents per share on revenues of $3.2 Billion.
Swiss Franc Trades Nervously on SNB
USDCHF – Our Speculative Sentiment Index shows that retail trading crowds remain net-long the US Dollar (ticker: USDOLLAR) against the Swiss Franc. Normally this would lead us to call for near-term losses. Yet the USDCHF remains stuck in a frustratingly narrow range, and only a break below SFr 0.9000 would signal that fresh lows are entirely likely. As it stands most are watching for clues that the Swiss National Bank
Option Activity
With the market trying to sort out what Fed Chairman Ben Bernanke is trying to single to the market we found several equities with high call and put option volume in afternoon trading.
National Association of Realtors Survey Data.
U.S. home buyer initiated or signed more contract in March vs February according to the National Association of Realtors survey data.
Dollar Slips after Fed Forecasts Turn Slightly More Hawkish?
Dollar Slips after Fed Forecasts Turn Slightly More Hawkish? British Pound Resilient Despite Double Dip Recession New Zealand Dollar Advances after RBNZ’s Slightly More Dovish Tack Japanese Yen Gains Despite Positive Risk Sentiment Euro: ECB President Draghi Eases His Inflation Tone Canadian Dollar Looking to Capitalize on Break to 7-Month High Gold Recovers from Yet Another Early Fall Thanks to the Dollar Dollar Slips after Fed Forecasts Turn Slightly More
Upgrades / Downgrades
Upgrades and downgrades for Thursday April 26, 2012 as 8:10 A.M. EDT
USD Advances Curbed By Cautious Bernanke – 9900 Remains Critical
The greenback is softer at the close of North American trade with the Dow Jones FXCM Dollar Index (Ticker: USDOLLAR) off by 0.18% on the session. The FOMC interest rate decision was central focus today with the central bank maintaining its pledge to keep rates anchored through 2014 while giving a slightly more upbeat assessment of the economy. The Fed raised its 2012 growth forecast to 2.4%-2.9% from
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