Wednesday, March 18, 2009
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AnaLogix Development Corp. has received a $250,000 pre-seed project award for the commercialization of its motion-sensing technology. Austin-based AnaLogix, which is developing a natural movement three-dimensional game controller for the personal computer and gaming markets, is receiving the award through the Texas Emerging Technology Fund. The ETF is a $200 million program started in 2005 to invest in innovative technologies developed in the state. The funding will enable AnaLogix to initiate and sustain first product operations of the 3-D controller. Residual funds will be used to help assist the company in the launch a second-generation product, company officials said. In addition to creating a 3-D motion-sensing controller, AnaLogix has developed a device that is compatible with all available games on the current market and has the ability to adapt to custom simulation environments, officials said.
NEW YORK, March 17 (Reuters) - The dollar rose against the yen on Tuesday as surprisingly strong U.S. housing data whetted risk appetite and the Bank of Japan plans to buy subordinated loans raised fears the central bank would flood the market with yen. The euro also rose above 128 yen, just shy of its highest level this year, and gained against the dollar, lifted partly by data showing stronger-than-expected German investor sentiment.The BOJ move overnight weighed on the yen and we've seen some relatively robust moves in equities," said Mark Frey, head of FX trading at Custom House in Victoria, British Columbia. But a lot of currency are starting to run out of gas, as we've seen a moderate rally in risk for six days and now we need some fresh impetus to drive us from here," he said.Analysts said that could come at the end of the Federal Reserve's two-day policy meeting on Wednesday, when Frey said traders "will want to see how aggressive the Fed will be in buying paper."The dollar was last up 0.5 percent at 98.60 yen while the euro rose 0.7 percent to 128.20 yen , near its 2009 high around 128.74 yen, according to Reuters data. Yen selling picked up after the Bank of Japan said it would buy up to 1 trillion yen ($10.2 billion) in subordinated bank loans to bolster the banks' depleted capital.[ID:nT322335]That sparked fear that the BOJ will flood the market with yen, putting downward pressure on a currency already struggling amid worries about the deteriorating Japanese economy. The euro also rose 0.3 percent to $1.2996 after briefly pushing above $1.30 for the second straight day. It could rally further, Frey said, if the Fed on Wednesday unveils plans to buy long-dated Treasuries. If not, he said risk aversion will rise and the dollar will likely rally. The dollar tends to rally when investors grow risk averse because it's seen as the safest store of value at time when economies across the globe are contracting. Its role as a main funding currency outside Europe also enhances its appeal...
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An Israeli oil and gas producer and a quartet of double-short ETFs are the ways to play the next week in the market.Was there great import in the market's modest moves Monday?Stocks ended the day at roughly break-even levels. But the closing figures may tend to obscure the reality of how the markets actually behaved on the first trading day of the week. What we saw was a market that opened Monday morning already exceptionally overbought, and continued to become increasingly overbought over the first half of the trading day. But shortly after lunch time, the profit-taking everyone knew would develop eventually began in earnest, retracing the day's earlier gains in the S&P 500 and Dow Jones industrial average and actually resulting in significant losses for the Nasdaq. By the end of the day, the S&P 500's primary ETF proxy, the SPY, and the Dow's most widely traded ETF stand-in, the DIA, each earned Short-Term PowerRatings of 2.The QQQQ, which is the ETF that represents the top 100 stocks in the Nasdaq, has a slightly higher Short-Term PowerRating of 3, most likely the result of Monday's sell-off, which helped reduce the oversold conditions in that market.... read more
NEW YORK (MarketWatch) -- Oil futures rallied nearly 4% in a volatile session Tuesday to approach $50 a barrel, after a report showing a surge in U.S. housing starts offset expectations that U.S. crude inventories rose last week.
The rally came two days after the Organization of Petroleum Exporting Countries kept their production unchanged at a Sunday meeting, but pledged to fully comply with their earlier cuts. Crude for April delivery was last up $1.78, or 3.8%, to $49.13 a barrel on the New York Mercantile Exchange. It rose as high as $49.82, but also fell nearly 2% earlier to as low as $46.53.
"The economic data and inventories expectations" were moving crude prices, said Phil Flynn, vice president at Alaron Trading. "People also expect OPEC will show better compliance." The expiration of options on the front-month April futures contract added extra volatility to Tuesday's trading, Flynn added, as traders scrambled to cover their option positions before they expire...
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Tuesday, March 17, 2009
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CAIRO, March 17 (Reuters) - Egyptian stock indexes edged higher on Tuesday, led by market heavyweight Orascom Telecom (OT) (ORTE.CA)(ORTEq.L) despite a flurry of profit taking late in the session, traders said. OT said on Monday its 2008 net profit after minority interest declined 76 percent to $431 million, citing exceptional gains in the previous year for the drop. But the company said that excluding these exceptions, its profit rose 7 percent. "I think (OT's) numbers were good. The reaction to the announcement was fine, and it was up today on nice volume," said Hashem Ghoniem of Pyramids Capital.Shares in the company were the most heavily traded by value on Tuesday, and closed 3.61 percent higher at 21.81 pounds ($3.87) per share. "We started seeing some profit taking for the rally of the past week... at the end of the session," said Mohamed Ashmawy from CIBC Brokerage.Shares in Orascom Construction Industries (OCI) (OCIC.CA)(OCICq.L), Egypt's largest listed builder, dipped 0.13 percent to last trade at 133.20 pounds.The company on Monday reported full year net profit of $719.8million, up 230 percent on the previous year. read more
NEW YORK, March 17, 2009 (GLOBE NEWSWIRE) -- The NASDAQ OMX Group, Inc. (Nasdaq:NDAQ) and WisdomTree (Pink Sheets:WSDT), a leading exchange-traded fund (ETF) sponsor and index developer, announced today that NASDAQ OMX PHLX has listed options on the WisdomTree Dreyfus Currency Income ETF family. They are the first options based on actively-managed ETFs. Options are available on the following seven ETFs: ---------------------------------------------------------------------
ETF Name Fund Ticker
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WisdomTree Dreyfus Brazilian Real Fund BZF
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WisdomTree Dreyfus Chinese Yuan Fund CYB
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WisdomTree Dreyfus Euro Fund EU
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WisdomTree Dreyfus Indian Rupee Fund ICN
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WisdomTree Dreyfus Japanese Yen Fund JYF
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WisdomTree Dreyfus New Zealand Dollar Fund BNZ
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WisdomTree Dreyfus South African Rand Fund SZR
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Brazilian stocks are down slightly amid mixed market performance around the world following recent rallies.The Ibovespa index is down 0.2 percent at 38,542 during early trading, extending the previous day's loss of 1.1 percent. Tuesday's loss came as the Dow Jones industrial average was down 28 at 7,188 in New York, as traders had little reaction to better-than-expected U.S. housing data.Analysts said profit-taking dominated U.S. markets on Monday after positive economic comments from Federal Reserve chairman Ben Bernanke, and in Europe on Tuesday.Meanwhile Asian indexes were boosted by banking stocks as fears about the world's hard-hit financial system eased...
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NEW YORK, (Reuters) - The dollar fell to trade little changed against the euro and rose versus the yen on Tuesday as a government report showed U.S. housing starts rose more than expected, diminishing demand for the greenback as a safe-haven.The U.S. housing data followed stronger-than-expected results from Germany's ZEW survey of sentiment towards the euro zone's biggest economy. The tentative improvement in risk sentiment weighed on the dollar and the yen. Traders were wary, however, ahead of U.S. and Japanese central bank policy-setting meetings which both end on Wednesday.The housing starts report "is an encouraging sign for the U.S. economy," said Matt Esteve, a foreign exchange trader at Tempus Consulting in Washington... read more
Friday, March 13, 2009
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1:56:00 PM
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Foreign Exchange (FOREX) is the arena where a nation's currency is exchanged for that of another. The foreign exchange market is the largest financial market in the world, with the equivalent of over $1.9 trillion changing hands daily; more than three times the aggregate amount of the US Equity and Treasury markets combined. Unlike other financial markets, the Forex market has no physical location and no central exchange (off-exchange). It operates through a global network of banks, corporations and individuals trading one currency for another. The lack of a physical exchange enables the Forex market to operate on a 24-hour basis, spanning from one zone to another in all the major financial centers.
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