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Short-Term Forex Technical Outlook: EUR/USD (Daily FX via Yahoo! Finance)
The EURUSD plunged 300+pips during the previous trading day as market participants expect the European Central Bank to continue their easing cycle, and the euro will remain on the defensive over the near-term as investors expect the central bank to lower the benchmark interest rate by another 50bp in 2009.
Read more...Markets surge on the first trading day of the new year (International Herald Tribune)
Wall Street began 2009 in optimistic territory it had not seen since the day after Election Day: above 9,000 after a 2.9 percent jump.
Read more...Gold Slips to 6-Session Low as US Fed and ECB Vow to Inflate Away Recession in 2009 (GoldSeek.com)
THE SPOT PRICE OF WHOLESALE GOLD slipped for the second session running on Monday, starting New York 's first serious trading day of 2009 down 3.3% as Asian stock markets closed sharply higher.
Read more...Waterford Wedgwood Files for Bankruptcy (The Gourmet Retailer)
Waterford Wedgwood announced Monday morning that it had filed for bankruptcy protection, requesting the suspension of its stock units from trading on the Irish Stock Exchange, effective immediately.
Read more...The stock, soaring on bullish brokerage note, looks for a foothold (Schaeffers Research)
The Western Union Company (WU: sentiment, chart, options) has surged today. At last check, the Colorado-based company was last seen trading up 8%, after Morgan Keegan raised the shares from "market perform" to "outperform." Although the stock's price has been cut nearly in half since mid-August, it has enjoyed a nice recent rally...( Read More )
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