Mena Report back issues from September 2008:
DAMAC Properties move forward with second Abdali based project.
Sep 01, 2008 ... Summary: DAMAC Properties -- the luxury lifestyle provider and the Middle East's largest private sector master developer -- has announced the start of construction works at ''The Lofts'', DAMAC's second Abdali Based Project. DAMAC Properties -- the luxury lifestyle provider and ...
Banks dominate GB GCC top 150 rankings.
Sep 01, 2008 ... Summary: According to a new research conducted for Gulf Business magazine by Shuaa Capital, banking and finance companies account for more than 40 per cent of the top 150 listed companies in the GCC region. According to a new research conducted for Gulf Business magazine by ...
Malek Sultan Al Malek inaugurates FVC's first Technology Briefing Centre in Dubai Internet City.
Sep 01, 2008 ... Summary: Pre-scheduled workshops and briefing sessions set up for each of the technologies and vendors Malek Sultan Al Malek, Executive Director at Dubai Internet City, today inaugurated FVC's first Technology Briefing Centre at Dubai Internet City. FVC, a leading Value Added ...
EUR/GBP Short-Term Technical Outlook (update).
Sep 01, 2008 ... Currency Pair: EUR/GBP Short-Term Bias: Long Chart: 15 Min Charts The EUR/GBP has peaked to 0.8136 earlier in the session, triggering an overbought RSI signal in the process. We expect the upward trend to continue this week, but may see the euro-pound fall back to trade within the channel ...
Euro Open: Oil Prices to Drive Forex Trading As Hurricane Gustav Looms.
Sep 01, 2008 ... Economic data is likely to take a back seat to oil prices in European trading. The docket is not particularly eventful, with most releases likely to reinforce existing macroeconomic themes. Meanwhile, US futures markets are holding a special trading session today ahead of tomorrow's Labor ...
German Retail Sales Falls, Heightening Growth Concerns for the ECB.
Sep 01, 2008 ... German retail sales fell for the second consecutive month as oil prices peaked to a record high of $147.27 in July. The monthly reading slipped to -1.5% from -1.4% in June, while the yearly figures were unchanged from the previous year. Consumer confidence slipped to a 5 year low in ...
German Retail Sales Disappoints, Manufacturing Falls to Record Low.
Sep 01, 2008 ... German retail sales fell for the second consecutive while manufacturing activity contracted in August. Heightened growth concerns for the European Central Bank may leave the central bank on the side lines, but don't expect the hawkish comments to stop. Talking Points * Japanese Yen: Rise ...
British Pound Slips as U.K. Manufacturing Contracts.
Sep 01, 2008 ... Fundamental Headlines • Key Index May Overstate Mortgage-Debt Problems - Wall Street Journal • The Fannie & Freddie Question - Wall Street Journal • Atticus Hit Hard by Credit Crunch - Financial Times • Oil Falls on Report Gustav Won't Speed Up Before Striking Land - ...
Dollar Rise - Too Fast, Too Furious?
Sep 01, 2008 ... The month of August is typically characterised by thin markets, rising volatility and quite sharp FX movements. Commercial clients are traditionally conspicuous by their absence at the beginning of the month and speculative clients have free hands. This August has been no exception and has ...
Forex Trading Signals Provided Free for a Limited Time.
Sep 01, 2008 ... Forex trading conditions continue to point to breakouts in the US dollar and other major currencies, and we forecast that Breakout and Momentum trades will continue to outperform through the week ahead. Our new Forex Trading Signals will be provided free for a limited time, so be sure to ...
Dollar Gains as Oil Drops More Than $4, Slightly Better Fundamental Outlook.
Sep 01, 2008 ... After being away from the markets on vacation for the past week, it's interesting to come back this Monday with a fresh perspective. Indeed, there have been solid gains in the US dollar against the Euro, British pound, and Canadian dollar. Will these moves continue?It appears that this ...
Forex Correlations Signal Euro/US Dollar Outlook to Depend on Oil Prices.
Sep 01, 2008 ... Forex trading markets continue to follow movements in oil, gold, and major equity indices. We have seen the US dollar move almost lock-step with crude oil futures, and it is subsequently unsurprising to note that the Euro/US Dollar's trading-year correlation to NYMEX Crude Futures is at ...
Secrets of a Successful Carry Trader.
Sep 01, 2008 ... Carry trade has a successful track record that goes back more than 25 years. However, the recent shift in the world's financial market towards risk aversion is not only threatening the survival of many carry traders but also questioning the logic of this type of strategies.Carry Trade ...
Australian Dollar: What Impact Will the RBA Rate Decision Have?
Sep 01, 2008 ... The combination of a strong US dollar and weak commodities have helped drive the Australian dollar, New Zealand dollar, and Canadian dollars start the week on a soft note. As we mentioned in our discussion of the US dollar, the downgrade of Hurricane Gustav to a Category 2 status sent ...
Euro: Commerzbank to Acquire Dresdner Bank - Better Competition, More German Job Losses.
Sep 01, 2008 ... European economic data released early this morning revealed much of the same story we've been seeing for a while: the region is experiencing a marked slowdown, if not nearing recession.The purchasing managers' index (PMI) for the Euro-zone manufacturing sector was confirmed at 47.6, ...
British Pound Tumbles 200 Points to 1.80 as UK's Darling Sounds the Recession Alarm.
Sep 01, 2008 ... The British pound started out on a weak note at the start of trading on Sunday, as the currency plunged 200 points versus the greenback following the release of comments by UK Chancellor of the Exchequer Alistair Darling from an interview with the Guardian newspaper.During the interview, ...
Japanese Yen Gains Despite Abrupt Resignation by Japanese PM Fukuda - Why?
Sep 01, 2008 ... On Monday, the second Japanese Prime Minister in a row quit after less than a year in office. PM Yasuo Fukuda unexpectedly announced his resignation, as he said that efforts to overhaul the economy were unable to overcome a split parliament.The news came after the Asian markets closed, so ...
Aramex opens new logistics centre in Bahrain.(Aramex International Ltd.)
Sep 02, 2008 ... Summary: Advanced Facility to Support Expanding GCC Network Aramex has announced the opening of a new 4,000 square logistics centre in Bahrain designed to support the company's expanding supply-chain solutions network across the GCC. Located in the Bahrain ...
Bahrain stock exchange in negative mood during August.
Sep 02, 2008 ... Summary: The Bahrain All Share Index ended last month on a negative note when compared to July, closing at 2,690.09. Therefore, decreasing on a MoM basis by 3.78%. The Bahrain All Share Index ended last month on a negative note when compared to July, closing at 2,690.09 ....
Euro Open: Will Producer Prices Change ECB Rate Cut Expectations?
Sep 02, 2008 ... The Reserve Bank of Australia validated market expectations by cutting benchmark interest rates by 25 basis points, bringing borrowing costs to 7.00%. Meanwhile, Building Approvals fell -2.3% in July, sharply underperforming expectations of a 0.5% monthly increase. Forex traders will focus ...
Budget airlines are the next big break for MENA.
Sep 02, 2008 ... Summary: The current global turmoil in the airline industry offers yet another opportunity for regional carriers to set themselves up to compete on the world stage. Many of them are today looking to expand as quickly as they can and to create new revenue streams in the hope of taking up ...
Australian Dollar Rallies as Scope for Future Rate Cuts Diminish.
Sep 02, 2008 ... The Reserve Bank of Australia reduced their benchmark interest rate to 7.00% from a 12 year high of 7.25%, which was widely expected by market participants. A weakening labor market paired with stagnant growth has pushed the central bank to lower the interest rate for the first time since ...
AUD/NZD Short-Term Technical Outlook.(Brief article)
Sep 02, 2008 ... Currency Pair: AUD/NZD Short-Term Bias: Long Chart: 15 Min Charts After finding near-term support around 1.2203 (21.4% Fib level), price action has broken to the upside, and may offer profitable opportunities for forex traders. Analysis The AUD/NZD remains range-bound between 1.2385 and ...
Swiss Inflation Falls from Record High, GDP Fails to Meet Expectations.
Sep 02, 2008 ... Summary: Headline inflation for Switzerland crossed the wires weaker than expected, with consumer prices easing to 2.9% from a 15 year high of 3.1%. The recent ... Headline inflation for Switzerland crossed the wires weaker than expected, with consumer prices easing to 2.9% from ...
Euro Falls Below 1.45 While PPI Hits 18 Year High.
Sep 02, 2008 ... Summary: The Euro came under heaving selling pressure as the US dollar strengthen across the majors on the back of falling oil prices. On the economic front, Euro-Zone ... The Euro came under heaving selling pressure as the US dollar strengthen across the majors on the back of ...
Al Aan TV and Promo Media has signed a collaboration agreement.
Sep 02, 2008 ... Summary: Al Aan TV has announced the appointment of Promo Media as the channel's exclusive media sales representatives for Lebanon, Syria and Jordan. Al Aan TV has announced the appointment of Promo Media as the channel's exclusive media sales representatives for Lebanon, Syria ...
AUD/NZD Short-Term Technical Outlook (update).(Brief article)
Sep 02, 2008 ... Currency Pair: AUD/NZD Short-Term Bias: Long Chart: 15 Min Charts After finding near-term support around 1.2203 (21.4% Fib level), price action has broken to the upside, and may offer profitable opportunities for forex traders. Analysis Update The AUD/NZD has come under heavy selling ...
92% of regional business leaders say UAE should invest in alternative energy.(Survey)
Sep 02, 2008 ... Summary: As the impending energy crunch presents a looming challenge to the Middle East and the climate crisis calls for action, a recent poll conducted by Leaders Presents reports that 92% of regional business leaders believe the UAE should invest in the research and implementation of ...
RBA Cuts Rate For The First Time Since 2001.(Reserve Bank of Australia)
Sep 02, 2008 ... Fundamental Headlines • Another Japanese Leader Quits as Recession Looms - Wall Street Journal • Hedge Funds Are Caught in a Tight Spot - Wall Street Journal • Retail Investors in US Equities Hits Low - Financial Times • U.K. Suspends Homebuyer Tax in Moves to Reverse ...
Euro Dollar Selling A Consistent Call Across The DailyFX Analysts.(Brief article)
Sep 02, 2008 ... Summary: Euro Dollar Selling A Consistent Call Across The DailyFX Analysts It was a tremendous return to the market for US traders as a plummet in oil prices helped ... Euro Dollar Selling A Consistent Call Across The DailyFX Analysts It was a tremendous return to the market for ...
Euro Nears Trendline Support from 2001.
Sep 02, 2008 ... Summary: A diaognal triangle appears to be unfolding in the EURUSD from 1.4908. A slow rally back to 1.4600/75 may begin soon as wave iv before the final low is ... A diaognal triangle appears to be unfolding in the EURUSD from 1.4908. A slow rally back to 1.4600/75 may begin ...
Australian Dollar Technical Outlook.
Sep 02, 2008 ... Summary: The AUDUSD is in a 5th wave (similar to the EURUSD). Specifically, the pair is falling in wave iii of 5. The AUDUSD is in a 5th wave (similar to the EURUSD). Specifically, the pair is falling in wave iii ...
Canadian Dollar Technical Outlook.
Sep 02, 2008 ... Summary: The push through 1.0726 completed a small 3rd wave with the rally from 1.0411. The push through 1.0726 completed a small 3rd wave with the rally from 1.0411. A corrective ...
Swiss Franc Technical Outlook.
Sep 02, 2008 ... Summary: On the daily chart, 1.1108-1.1594 is reversal territory. On the daily chart, 1.1108-1.1594 is reversal territory. This area includes the 4th waves of one and two ...
Euro Technical Outlook.(Brief article)
Sep 02, 2008 ... Summary: Continued weakness indicates that the EURUSD remains in a 5th wave from 1.4908. The corrective nature of the decline indicates that the drop from 1.4908 ... Continued weakness indicates that the EURUSD remains in a 5th wave from 1.4908. The corrective nature of the ...
British Pound Technical Outlook.
Sep 02, 2008 ... Summary: The weekly chart along with 13 week RSI shows the extreme nature of the decline. There have been 2 other times when 13 week RSI was this low; June 1989 ... The weekly chart along with 13 week RSI shows the extreme nature of the decline. There have been 2 other times when ...
Yen Technical Outlook.(Brief article)
Sep 02, 2008 ... Summary: We expect a major top to form soon (may already be in place above 110) due to the larger break from a 12 year triangle earlier this year. We expect a major top to form soon (may already be in place above 110) due to the larger break from a 12 year triangle earlier this ...
New Zealand Dollar Technical Outlook.
Sep 02, 2008 ... Summary: The drop below .6824 indicates that the corrective advance is complete. The drop below .6824 indicates that the corrective advance is complete. .6880 is short term resistance and the trend is ...
Forex Trading Signals Provided Free for a Limited Time.
Sep 02, 2008 ... Summary: Forex trading conditions continue to point to breakouts in the US dollar and other major currencies, and we forecast that Breakout and Momentum trades ... Forex trading conditions continue to point to breakouts in the US dollar and other major currencies, and we forecast ...
Dollar Rally Staggers After News Manufacturing Sector Contracted (Forex Key Events Update).
Sep 02, 2008 ... Summary: After the strong revision to the US second quarter GDP number last week, the outlook for the US economy and the dollar has found a new life. However, this ... After the strong revision to the US second quarter GDP number last week, the outlook for the US economy and the ...
Euro Crosses: Look Higher.
Sep 02, 2008 ... Summary: The EURGBP breakout is a 5th wave, but it is not yet complete. There is a high reward/risk opportunity in the EURCAD and breakout opportunity in the EURAUD. The EURGBP breakout is a 5th wave, but it is not yet complete. There is a high reward/risk opportunity in the ...
US Fed, BOE, ECB: Who Will Hike? Who Will Cut?
Sep 02, 2008 ... Summary: The US dollar rally has been relentless, with the most recent push fueled by the minutes from the FOMCEoe1/4aos August meeting. Indeed, the Committee specifically ... The US dollar rally has been relentless, with the most recent push fueled by the minutes from the FOMC's ...
Euro Close to a Bottom According to COT Data.
Sep 02, 2008 ... Summary: The Euro composite COT is at -71,158, below the former all-time low (from July 2005). At that time, a roughly 700 pip rally took place over the next 2 ... The Euro composite COT is at -71,158, below the former all-time low (from July 2005). At that time, a roughly 700 ...
COT 09/02.(Yen (Japan))(Brief article)
Sep 02, 2008 ... Summary: JPY: The index is at 8 after having been at 6 last week. In 2007, positoning was much more extreme, but we would expect it to be since 124.13 was probably ... JPY: The index is at 8 after having been at 6 last week. In 2007, positoning was much more extreme, but we would ...
FX Correlations (August): How Do Currencies Move In Relation To Each Other?
Sep 03, 2008 ... Summary: The following is our monthly correlations update for August. As we have stated time and again, correlations between different currency pairs will inevitably ... The following is our monthly correlations update for August. As we have stated time and again, correlations ...
Dollar Rallies But EURUSD Holds Support After ISM (Forex Video).
Sep 03, 2008 ... Summary: The US dollar rallies to a 16-month high against the pound, but a 6-month high in EURUSD marks near-term resistance. Can it last? The US dollar rallies to a 16-month high against the pound, but a 6-month high in EURUSD marks near-term resistance. Can it last? * A ...
Forex Technicals: The Day Ahead, September 3.
Sep 03, 2008 ... Summary: The bottom line is that EURUSD bearish sentiment is extreme. News headlines and stories are usually overly bullish at tops and bearish at bottoms. One ... The bottom line is that EURUSD bearish sentiment is extreme. News headlines and stories are usually overly bullish ...
Euro Short-Term Technical Outlook Bullish, Fundamental Forecast Bearish.(Brief article)
Sep 03, 2008 ... Summary: EURUSD Long-Term Technical Forecast EURUSD Long-Term Technical Forecast For the first time since May 2005, the EURUSD crossed below and closed below its 12 month average. The rally from 1.1640 is most likely wave 5 within a 5 wave advance from the 2000 low at .8227 but ...
US Dollar Rally Supported By Drop in Oil, But May Be Due To Pause.
Sep 03, 2008 ... Summary: The US dollar continued its rally on Tuesday, but had trouble sustaining those gains as the ISM survey for the manufacturing sector unexpectedly slipped ... The US dollar continued its rally on Tuesday, but had trouble sustaining those gains as the ISM survey for the ...
Australian Dollar Collapses on RBA Rate Cut, Outlook for the Bank of Canada's Rate Decision.
Sep 03, 2008 ... Summary: As expected, the Reserve Bank of Australia cut rates by 25bps to 7.00 percent on Monday night, sending the Australian dollar for a freefall below 0.8500 .... As expected, the Reserve Bank of Australia cut rates by 25bps to 7.00 percent on Monday night, sending the ...
Guest Speaker Andrew Spanton's Technical Recap.
Sep 03, 2008 ... What do you think about Andrew's videos? Send your comments to jkicklighter@dailyfx.com. ...
Japanese Yen Fundamentals Signal Losses.(Brief article)
Sep 03, 2008 ... Summary: USDJPY Long-Term Technical Forecast USDJPY Long-Term Technical Forecast This is a chart that we have focused on time and time again. A 4th wave triangle (that took 12 years) is complete at 124.13 as a 4th wave and the USDJPY is headed lower in a 5th wave (and terminal ...
GBP Could Bottom at Forex Futures Sentiment Extreme.
Sep 03, 2008 ... Summary: EURUSD Long-Term Technical Forecast EURUSD Long-Term Technical Forecast The 5 wave advance from 1.3682 is complete at 2.1160. The decline from 2.1160 is in 3 waves (to this point) but is probably wave A of a 3 flat (or triangle). Expect a large wave B bounce to begin ...
Swiss Franc Technicals and Fundamentals Forecast Declines.
Sep 03, 2008 ... Summary: USDCHF Long-Term Technical Forecast USDCHF Long-Term Technical Forecast The USDCHF is in the exact same position as the EURUSD (but as the inverse). A drop below .9647 would complete wave 5 that began at 1.3285. Although not shown, momentum indicators made an extreme ...
USDCAD Could Top on Bearish Sentiment and Technicals.(united state dollers)(Brief article)
Sep 03, 2008 ... Summary: USDCAD Long-Term Technical Forecast USDCAD Long-Term Technical Forecast The USDCAD is another example of a momentum extreme occurring along with the price extreme. Price is testing a resistance line right now and there is potential for a top and reversal (especially ...
AUDUSD Has Set Long-Term Top but looks Bullish Short-term.(australia)(Brief article)
Sep 03, 2008 ... Summary: AUDUSD Long-Term Technical Forecast AUDUSD Long-Term Technical Forecast Now this is what a top should look like. Divergence with RSI at the top confirms that the A-B-C advance from the 2001 low is complete. A large portion of the rally from 2001 should be retraced. Of ...
NZD may Continue Rallying Following Sentiment Extreme.(new zealand dollers)(Brief article)
Sep 03, 2008 ... Summary: NZDUSD Long-Term Technical Forecast NZDUSD Long-Term Technical Forecast The NZDUSD top is also in place (notice divergence and the monthly close below the long term support line). For now, the minimum target is below .5927. Again, follow the Daily Technicals for the ...
Forex Market Technical and Fundamental Forecasts for Month of September.
Sep 03, 2008 ... Summary: Our new Forex Monthly Technical and Fundamental Outlook report examines long-term forecasts for major currencies, as we explore key themes ranging from ... Our new Forex Monthly Technical and Fundamental Outlook report examines long-term forecasts for major currencies, ...
Dubai Properties Group signs MoU with Higher Colleges of Technology.
Sep 03, 2008 ... Summary: The leading real estate company in the UAE, has signed a memorandum of understanding (MoU) with the Higher Colleges of Technology (HCT) in Dubai with the main aim of developing a strong Emirati workforce and creating an indigenous training pool for the business sector. ...
Cream of Dubai's publishing industry signs up for digital workflow efficiency.
Sep 03, 2008 ... Summary: ITP, Motivate, Mediaquest, Media Factory and CPI, five of the biggest independent publishing firms in the UAE, sign with Q2 Arabia for world-class workflow solutions. Deal will shorten deadlines, safeguard advertisers and slash production times. Mediaquest, Motivate, ...
Candlesticks See Dollar Challenge Multi-Year Resistance.
Sep 03, 2008 ... Summary: Last week, our long-term short Euro position moved further in our favor, bringing floating profit to nearly 1,000 pips. Looking ahead, we see striking ... Last week, our long-term short Euro position moved further in our favor, bringing floating profit to nearly 1,000 ...
AUD/CAD Short-Term Technical Outlook.(Brief article)
Sep 03, 2008 ... Summary: The AUD/CAD has come under heaving selling pressure after peaking to 0.9841 in July, and may fall further as the downtrend continues to hold. The AUD/CAD has come under heaving selling pressure after peaking to 0.9841 in July, and may fall further as the downtrend ...
Euro Open: Retail Sales to Shrink Again, Calling Out ECB.
Sep 03, 2008 ... Summary: The Euro fell sharply in overnight trading, reaching the lowest levels in 8 months. Sterling also succumbed to selling pressure, falling to test the 1.77 ... The Euro fell sharply in overnight trading, reaching the lowest levels in 8 months. Sterling also succumbed to ...
Alstom signs contract to build stage 3 of Shoaiba in Saudi Arabia.
Sep 03, 2008 ... Summary: Further to a letter of intent of 28 June 2008, Alstom on Tuesday signed a contract with Saudi Electricity Company (SEC) to build stage 3 of the Shoaiba power plant, worth around e1/41.9 billion. Further to a letter of intent of 28 June 2008, Alstom on Tuesday signed a ...
Petrofac, Mubadala set up JV.(Petrofac Limited)(Mubadala Petroleum Services Company LLC )
Sep 03, 2008 ... Summary: Petrofac Limited, the international oil & gas facilities service provider, and Mubadala Petroleum Services Company LLC (MPSC), a wholly-owned subsidiary of Mubadala Development Company, announced their plans to establish a joint venture company, Petrofac Emirates LLC. ...