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Jul 20, 2010

NASDAQ : Latest Forex News. July 20th., 2010


Latest Forex News

BBC : Experts Views . July 20th.2010

20 July 2010 Last updated at 23:06 GMT

Expert Views

Stephanomics - Economic Insights

RTTNews: Evening Market Wrap.- Stocks Rally As Traders Look To Silver Lining On Earnings, Data - U.S. Commentary . July 20th.2010

Evening Market Wrap Tue Jul 20 17:01 2010 


Jul 20, 2010 Stocks Rally As Traders Look To Silver Lining On Earnings, Data - U.S. Commentary Stocks rallied after recovering from early losses on Tuesday, as traders focused on upbeat revenues from consumer staple PepsiCo (PEP), a pickup in housing permits and hope for continued strength from earnings by tech giant Apple Inc. (AAPL). Full Article

Economic News

Jul 20, 2010 Bank Of Canada Hikes Key Interest Rate To 0.75% The Bank of Canada on Tuesday hiked its key interest rate by a quarter of a percentage point to 0.75 percent, as expected. The modest increase was the second in as many months, following a year-long pause at a record low of 0.25 percent. However, the nation's central bank warned that while the global economic recovery is proceeding, it is not yet self-sustaining. While the Canadian economy is picking up steam, European sovereign debt problems are expected to slow the global recovery, according the BoC's accompanying statement. Full Article
Jul 20, 2010 Housing Starts Fall 5% In June Amid Reduced Demand In another sign of weakness in the housing market following the expiration of the homebuyer tax credit, the Commerce Department released a report Tuesday morning showing that housing starts fell by much more than expected in the month of June. The report showed that housing starts fell 5 percent to an annual rate of 549,000 in June from the revised May estimate of 578,000. Economists had expected housing starts to fall to 575,000 from the 593,000 originally reported for the previous month. Full Article

Earnings News

Jul 20, 2010 Johnson & Johnson Q2 Profit Up 7%; Adj. EPS Meets View; Lowers FY10 EPS Outlook - Update Healthcare giant Johnson & Johnson (JNJ) Tuesday reported over 7% growth in profit in the second quarter, helped by a marginal rise in sales and lower tax provision. Adjusted earnings on a per share basis met Wall Street consensus estimate, while revenues fell short of expectation. Further, the company slashed its full-year outlook again to reflect the recent product recalls. Full Article


Jul 20, 2010 Oil Climbs To Three-Week High On Expected Drop In Stockpiles Oil prices gained Tuesday, shrugging off a modest rebound in dollar and weak housing data from the US, on expectations of a drop in crude inventories. August crude oil settled up $0.90 at $77.44 a barrel on the New York Mercantile Exchange, a three-week high. Full Article

Forex Top Story

Jul 20, 2010 Dollar Firms Despite Sluggish Housing Starts The dollar saw modest strength versus the euro and yen on Tuesday, bolstered by renewed risk aversion as stocks looked poised for another pullback. Safe haven currencies were supported by disappointing quarterly results from blue-chips IBM and Goldman Sachs. However, the latest in a string of troubling data on the US housing sector limited the dollar's appeal. Full Article

Political News

Jul 20, 2010 W.V. Governor Announces He Will Run For SenateWest Virginia Governor Joe Manchin Tuesday announced his widely-anticipated decision to run for U.S. Senate in a special election to held this November. Manchin's announcement comes a day after he signed a measure approved by the West Virginia legislature that allows for the special election to be held this fall rather than waiting until the end of the late Sen. Robert Byrd's, D-W.V., term in 2012. Full Article
Jul 20, 2010 Senate Panel Approves Kagan's Supreme Court NominationThe Senate Judiciary Committee voted Tuesday to send the nomination of Solicitor General Elena Kagan to be the next Supreme Court Justice to the full senate. The 13 to 6 vote in the committee came down largely along party lines, with Sen. Lindsey Graham, R-S.C., providing the sole Republican vote in favor of confirmation. Full Article
Jul 20, 2010 Extension Of Unemployment Benefits Clears Senate HurdleAfter several weeks of delays, the Senate voted Tuesday to end debate on a bill to extend unemployment benefits for millions of workers. Republicans have largely opposed the bill because it adds to the deficit. The successful cloture vote paves the way for a final vote on the bill, which extends the Emergency Unemployment Compensation program that expired at the end of May. The bill extends the program retroactively through November 2010. Full Article

US Policy

Jul 20, 2010 Clinton, Gates To Visit DMZ As Navy Preps War Games The United States and South Korea, which have solidified their alliance after the sinking of a Southern warship they blame on North Korea, is to begin major military drills Sunday in the Sea of Japan sending a deterrent message to Pyongyang. U.S. Defense Secretary Robert Gates, who is visiting the allied Asian country, said on Tuesday that a US naval attack group led by nuclear-powered aircraft carrier USS George Washington will arrive in the South Korean port of Pusan on Wednesday for a joint show of defense strength. Full Article

ABC News - Australia: Wild dogs cost Qld's livestock industry $33m. July 20th., 2010


Wild dogs cost Qld's livestock industry $33m
Rural lobby group AgForce says the wild dog problem across Queensland is "desperate", with graziers reporting growing numbers of dog attacks on sheep and cattle.

Developer authority highlights abattoir possibilities in Gulf country
A development body says building an abattoir in Queensland's Gulf of Carpentaria region would boost employment opportunities for Indigenous people.

Prisoners take on mining work
Rio Tinto has offered prisoners from the Pilbara the chance to work at Cape Lambert port in a move designed to increase Indigenous employment and reduce re-offending.

More Business Stories >

THE GATA DISPATCH :Adrian Douglas: Proof of gold price suppression/ Max Keiser interviews Ben Davies on gold, silver suppression, BIS swaps

Adrian Douglas: Proof of gold price suppression -- gold and the U.S. dollar

6:15p ET Tuesday, July 20, 2010
Dear Friend of GATA and Gold:
GATA board member Adrian Douglas, editor of the Market Force Analysis letter (, examines the ratio between the supply of gold and the U.S. dollar and concludes that the dollar's gold backing has fallen to a mere 2.3 percent and that the real dollar value of gold now approaches $53,000 per ounce. Douglas' new study is headlined "Proof of Gold Price Suppression: Gold and the U.S. Dollar," and you can find it in PDF format with a chart at GATA's Internet site here:
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.

Max Keiser interviews Ben Davies on gold, silver suppression, BIS swaps


8:56a ET Tuesday, July 20, 2010
Dear Friend of GATA and Gold (and Silver):
On today's edition of "The Keiser Report" on the Russia Today television network, Max Keiser interviewed Ben Davies, CEO of Hinde Capital in London, about suppression of gold and silver prices to support the fiat currency system. They also discussed the recent gold swaps surreptitiously undertaken by the Bank for International Settlements, which Davies suspects were a mechanism for central banks to provide metal to cover a serious shortage in the gold market and continue price suppression. Keiser's interview with Davies is about 14 minutes long and begins at about 13 minutes here:
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
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CNBC : Monthly America's Top States For Business. July 20th., 2010 Monthly
America's Top States fro Business 2010
-And The Winner Is Texas
They say everything in Texas is big, and that sure goes for its stature in business. With the biggest point total in the history of our study, Texas posts a big victory as America’s Top State for Business 2010. Our fourth annual study of America's Top States for Business puts all 50 states to the test, measuring them on 40 different metrics in ten key categories of competitiveness.
» Read More

The Most Improved States
More than a couple states can make a case for most-improved status in 2010.
» Read More
Overall Rankings & Categories
Our fourth annual study of America's Top States for Business puts all 50 states to the test, measuring them on 40 different metrics in ten key categories of competitiveness.
» Read More
Cost of Living vs Quality of Life
Cost of living vs quality of life—it’s a tug of war for workers and companies in the USA.
» Read More
CNBC Highlights

Play Call The Close!
» Play each day for a chance to win one of four One&Only Luxury Getaways to the Bahamas, Dubai, South Africa or Mexico!

Earnings Central
» It's Earnings Season and CNBC is Earnings Central - Coverage On-air and Online

MarketWatch: Industry - Financial Services.- The Fed´s Near-Death and Rebirth Experience. ....An much more. July 20th.2010


 Capitol Report: The Fed's near-death and rebirth experience
By Ronald D. Orol MarketWatch
7/20/2010 5:35:00 PM

Fed Chairman Ben Bernanke goes to Capitol Hill Wednesday in a significantly stronger position, after successfully weathering serious threats to the central bank's power and emerging in new bank regulations with even more authority. A look at how it happened. 

By Jonathan Burton MarketWatch
7/20/2010 5:31:00 PM

Bowing to competitive pressure from other mutual-fund firms, AARP, the membership group for people aged 50 and over, said it will liquidate its lineup of stock and bond funds. 

By MarketWatch
7/20/2010 5:28:00 PM

Yahoo Inc.'s second quarter wasn't quite what many had been hoping for, and the results may lead more investors to see the Internet pioneer simply as a cost-cutting story. 

By Alistair Barr MarketWatch
7/20/2010 4:56:00 PM

The hedge fund industry attracts almost $10 billion in assets during the second quarter. 

MarketWatch: Personal Finance Daily.- Tuesday Personal Finance Stories. July 20th., 2010

Personal Finance Daily
JULY 20, 2010

Tuesday's Personal Finance stories

By MarketWatch

Don't miss these top stories:

Lawmakers inched closer Tuesday to extending unemployment benefits for about 2 million jobless workers who have maxed out their payments. The U.S. Senate voted 60 to 40 to stop debate on the bill, but until the Senate and House both approve the full bill, and Obama signs it, those unemployed workers likely don't have money coming in -- unless they can somehow find a job in this hostile labor market.

If you're among the financially stressed and you're married or with a partner, check out Ruth Mantell's Diary of a Recession Baby column today for tips on how to survive tough financial times with your marriage intact.

In her column, Mantell cites a survey that finds about 90% of people avoid talking finances with their spouse. That sounds like a sure path to a rocky marriage.

-- Andrea Coombes , Personal Finance editor

Five money tips for couples in tough times

And you thought the in-laws were stressful. Almost one in three couples say finances cause the most stress in their relationship, and 91% of Americans surveyed find reasons to avoid talking about money with their partner, according to a recent American Express Spending & Saving Tracker.
See Diary of a Recession Baby.


Senate moves forward on unemployment benefits

More than 2 million jobless workers are one step closer to regaining safety-net payments, following a Tuesday vote in the U.S. Senate to move forward with legislation that retroactively extends some federally-funded weekly unemployment insurance benefits through November at a cost of about $34 billion.
See story on Senate moves forward on unemployment benefits.

Think job, not stocks

Individuals looking to make their nest eggs grow should worry less about swings in the stock market and more about whether they are in the right job and earning the highest salary they can, says Paula Hogan, a financial planner in Milwaukee.
See story on think job, not stocks.


Cancer's side effects

As cancer patients live longer, doctors are looking at how symptom management can affect patients' health -- and finances. MarketWatch's Kristen Gerencher talks with Dr. Michael Fisch, chair of the oncology department at M.D. Anderson Cancer Center.
 Watch video on cancer's side effects.


Commentary: Five rules that reform forgot

President Obama is expected to sign the financial reform bill this week, but if you think the bill alone will protect you from big finance, you probably think Mel Gibson can sweet-talk his way back onto the A-list.
See story on five rules that reform forgot.


U.S. housing starts drop 5% to 8-month low

Ground-breaking on new housing units fell sharply after a federal tax credit for buyers expired, putting the housing sector back in the dumps where it was a year ago, according to Commerce Department data released Tuesday.
See story on U.S. housing starts drop to 8-month low.


Commentary: Falling consumer debt takes toll on growth

Consumers are pruning their debts so quickly, you would think that they must be cutting their credit cards in two.
See story on falling consumer debt takes toll on growth.

Commentary: The rich are winning

You may have been hearing a lot of doom and gloom about the economy recently. OK, so the news on jobs, real estate and retail sales has been dismal. Yes, maybe it's true the middle class is broke, in debt, under water, out of work and in despair.
See story on the rich are winning.

Commentary: Double dip looks doubly certain

Economists and financial analysts are currently arguing whether the economy will experience a "double dip," a recession followed by a short recovery, followed by another recession.
See Outside the Box on double dip looks doubly certain.

Goodwin sworn in as interim W. Va. senator

Democrat Carte Goodwin was sworn in as the new senator from West Virginia on Tuesday, filling the seat held by the late Sen. Robert Byrd and giving Democrats an extra member in the chamber ahead of a key vote on extending unemployment benefits.
See story on Democrat Goodwin sworn in as interim senator.

Kagan Supreme Court nomination heads to Senate

Elena Kagan won support from the Senate Judiciary Committee on Tuesday to be a Supreme Court justice, as members voted 13-6 on President Barack Obama's second nominee to the high court.
See story on Kagan Supreme Court nomination heads to Senate.

CNBC : Evening Brief.-Latest Stories.-Apple Blows Past Earnings Forecasts; Shares Jump . July 20th., 2010


»click here to see the latest top stories from


 Fear of America's Rising Debt
The national debt stands at $13 trillion, with Martin Feldstein, Harvard Professor of Economics.
» Watch Video

The Big Fear: The SEC Isn't Protecting Us
Discussing whether the SEC can protect Americans, with Rep. Paul Kanjorski, (D-PA).
» Watch Video


FOX BUSINESS . Breaking Business News. July 20th 2010

05 2010 Traders 04 276
Markets Stage ComebackWall Street mounted an impressive comeback from an early 146-point selloff on Tuesday as rallying commodity and retail stocks helped offset early jitters.


Global Banks Must Raise Capital

Is the World Broke? Fed Reserve Gov. Daniel Tarullo said banks need to stronger balance sheets.

Yahoo Net Rises 51%

The Internet giant said net revenue climbed to $1.13 billion in the second quarter.

Pay Czar to Banks: Give it Back

Ken Feinberg is preparing to “claw back” bonus money that some banks paid out in 2008.

British PM Defends BP

David Cameron defended BP in a probe into the oil major's role in the release of the Lockerbie bomber.

Fed to Push Rates Lower? Some Say Yes

Will a weaker economy prompt the Fed to push already rock-bottom borrowing costs even lower?

MarketWatch: Industry - Finance Services.- MGIC results bouy mortgae insurers


MGIC results buoy mortgage insurers
By Alistair Barr MarketWatch
7/20/2010 3:25:00 PM

SAN FRANCISCO (MarketWatch) - Mortgage insurers rose Tuesday after MGIC Investment Corp. reported a quarterly profit for the first time in at least a year.  
Goldman CFO says market sentiment hasn't turned

By Alistair Barr MarketWatch
7/20/2010 2:03:00 PM

Goldman CFO David Viniar says that market sentiment hasn't turned yet, after a tough second quarter in which the firm's clients were a lot less active. 

U.S. Markets At Close. July 20th., 2010


Market Snapshot
Index Last Change %Change
DJIA 10,229.96 +75.53 0.74% Hilighted
Nasdaq 2,222.49 +24.26 1.10%
S&P 500 1,083.48 +12.23 1.14%
FOX 50 785.57 +6.56 0.84%
DIJA Chart


News Facts Actions - Summer 2010
In this issue:

NFA Board approves Fiscal Year 2011 budget
On May 20, NFA's Board of Directors approved a budget of $42.4 million for Fiscal Year 2011.
Click here to

NFA petitions CFTC to amend commodity pool operator exemptions
National Futures Association recently petitioned the CFTC to amend CFTC Regulation 4.5 which provides an exclusion from the definition of the term "commodity pool operator" for otherwise regulated persons operating certain qualifying entities.
Click here to

NFA President Dan Roth to be featured speaker at China futures conference
Dan Roth, president and CEO of NFA, has been invited to speak at the International Seminar on Futures Market Regulation to be held in Beijing, China, from August 5 to 6.
Click here to

NFA announces registration/compliance workshops for currently unregistered forex IBs, CPOs and CTAs
In early 2010, the Commodity Futures Trading Commission (CFTC) published its proposed rules regarding the regulation of retail off-exchange foreign currency (forex) products.
Click here to

Board Actions
The following actions were taken by NFA's Board of Directors at their meeting on May 20, 2010.
Click here to

Money Morning : When this indicator says to buy Gold is never wrong. July 20th., 2010

July 20, 2010
This "Gold Spike" Indicator Is Dead-Solid-Perfect…

This unique indicator has been 100% accurate in predicting exactly when gold prices will start to move higher. And when you know the big price movements ahead of time - and what to do with them - you can make outrageous gains. In this case, at least 7 times your money. Right now, it’s pointing to August 10th as the next day gold prices will take off… Go here for details on the move.

When This Indicator Says to 'Buy Gold,' It's Never Wrong

[Editor's Note: Commodities expert Peter Krauth - the editor of the Global Resource Alert advisory service and a frequent contributor to Money Morning - expects long-term gold prices to reach $5,000 an ounce ... but still believes the biggest profits can be made right now.]

By Peter Krauth, Contributing Editor, Money Morning

When I recently predicted that the long-term trends were in place to send gold to $5,000 an ounce, I was stunned by all the attention that my forecast received.

Granted, a move of that magnitude represents a dizzying long-term profit opportunity. But that's just it - it's a long-term profit opportunity.

I've uncovered some profit plays that offer equally hefty gains - but in the short term.

One in particular stands out - a profit opportunity that relates to a signal that I refer to as the "Gold Spike Indicator," or GSI. Because of the nature of the indicator itself, this profit opportunity is available only four times a year.

And the next "window" of opportunity is just weeks away.

To find out all about this profit "window," please read on...

Krauth on...

Oil Prices: Two Ways to Profit From 'Peak Oil'
How the Greece Bailout Turned Gold Into a 'Must-Have' Investment

Sky-High Demand for Dr. Moors' Top-Rated Energy Picks

It's only been a few days since Kent released his top-rated energy investment picks. Yet the response has been flat-out overwhelming. Seems just about everyone wants to find out what Kent's recommending. And now they know.

In case you missed it, here's what all the fuss is about. His readers have been asking us for this for six months now. And it's finally here.

Money Morning Mid-Year Forecast: Why China's Economy Will Exceed Expectations in the Second Half of 2010

[Editor's Note: This is the latest installment in Money Morning's ongoing Midyear Economic Forecast series, which has covered such topics as oil, gold, and the U.S. dollar.]

By Larry D. Spears, Contributing Writer, Money Morning

The rapid growth China's economy experienced in the first half of the year was a blessing and a curse. It helped propel the world out of a disastrous recession, but it forced policymakers into action to prevent overheating - which scared off many investors.

But the fact is that while most of the world was struggling to keep the engine of economic recovery from sputtering to a halt, China spent the first half of 2010 with its foot on the brake. And now that the Red Dragon has reigned in growth, the second half of 2010 will likely look very different from the first.

Money Morning Chief Investment Strategist Keith Fitz-Gerald says nearly everyone felt the first quarter's 11.9% growth in Chinese gross domestic product (GDP) was "too hot." But the 10.3% growth China saw in the second quarter will likely be topped in the second half.


"A New Age in the History of Energy" as China Tops the U.S. in Consumption

By Don Miller, Associate Editor, Money Morning

China, powered by years of surging economic growth, is now the world's largest energy consumer, bumping the United States from the top spot for the first time in more than a century, according to new data from the International Energy Agency (IEA).

China consumed 2.25 billion tons of oil equivalent last year, or about 4% more than the United States, which burned through 2.17 billion tons of oil equivalent. China's total energy consumption was just half that of the United States a decade ago.

"The fact that China overtook the U.S. as the world's largest energy consumer symbolizes the start of a new age in the history of energy," IEA chief economist Fatih Birol told The Wall Street Journal. The United States had been the world's biggest overall energy consumer since the early 1900s, he said.

China was expected to become the biggest energy consumer in 2015, but the economic meltdown and green energy programs in the United States accelerated the transition, Birol said.

Read full story...

Real Clear Politics : July 20th., 2010

Real Clear Politics Tuesday

Who is Barack Obama? - Richard Cohen, Washington Post
The Price of the Dems' Policies is Lost Jobs - Rich Lowry, New York Post
Americans Want Big Government - Anne Applebaum, Slate
ObamaCare's Critics Were Right - David Keene, The Hill
Note to Tea Partiers: Purge This Poison - Eugene Robinson, Washington Post
Race Card Fraud - Thomas Sowell, RealClearPolitics
Economy Sets Dems Up for Rough November - Albert Hunt, Bloomberg
Paul Krugman, Economic Fatalism and Elections - David Paul Kuhn, RCP
What's Up With Tom Friedman? - Shmuley Boteach, Jerusalem Post
Civilian Courts Up to Job of Terror Trials - Sen. Dianne Feinstein, LA Times
Gitmo Wrong Venue for Civilian Trials - Michael Mukasey, Washington Post
The Risk of Failure in Afghanistan and Iraq - Ullrich Fichtner, Der Spiegel
Why Hasn't Israel Bombed Iran (Yet)? - Bret Stephens, Wall Street Journal
Falling Out of Love With Obama - Paul Waldman, The American Prospect
Obama's Election Hasn't Helped Race Relations - Dennis Prager, Townhall
Refudiate This: Sarah Gets Shakespeare - Matthew Biberman, AOL News
Media Plotted to Kill Rev. Wright Stories - Jonathan Strong, Daily Caller
Latest Polls: WI Sen | FL Sen | MI Gov | CT Sen | AR Sen | ME Gov | KS Sen
Election 2010: FL Sen: Crist on Top | Similar Challenges in CA, NC


Stimulating Unemployment - Wall Street Journal
Republicans and the Constitution - New York Times
SEC's Fishy Deal With Goldman - Washington Examiner
Congress Shouldn't Overreact to Unknowns of Oil Spill - Washington Post

NFA : For Immediate Release: NFA takes emergency enforcement action against two Texas firms, CDH Global Holdings and CDH Forex Investments, and the firms' principal. July 20th., 2010

For Immediate Release
For More Information Contact:
Larry Dyekman (312) 781-1372,
Karen Wuertz (312) 781-1335,

NFA takes emergency enforcement action against two Texas firms, CDH Global Holdings and CDH Forex Investments, and the firms' principal
July 20, Chicago - National Futures Association (NFA) announced today that it has taken an emergency enforcement action against CDH Global Holdings, LLC (CDH Global), CDH Forex Investments, LLC (CDH Forex) and Linda F. Harris, the firms' principal. CDH Global is a Commodity Trading Advisor and CDH Forex is a Commodity Pool Operator. Both firms are located in Flower Mound, Texas.
NFA has taken this Member Responsibility Action (MRA) and Associate Responsibility Action (ARA) because CDH Global, CDH Forex and Harris provided false and misleading information to NFA and failed to cooperate with NFA in its investigation of dramatically high performance claims contained in CDH Global's and CDH Forex's disclosure documents which turned out to be fictitious. The MRA also alleges that CDH Global, CDH Forex and Harris provided fabricated brokerage statements to NFA during its investigation. Although Harris claimed that a brokerage firm carried 75 customer accounts with a value of $18 million, the brokerage firm advised NFA that it did not carry accounts for customers of CDH Global or CDH Forex nor had it ever carried such accounts.
Effective immediately, CDH Global, CDH Forex and Harris are prohibited from soliciting or accepting any funds and from disbursing or transferring of any funds of customers, investors, commodity pools or any other investment vehicles without prior NFA approval.
The MRA/ARA will remain in effect until CDH Global, CDH Forex and Harris have demonstrated that they are in complete compliance with all NFA requirements. Harris, CDH Global and CDH Forex may request a prompt hearing before NFA's Hearing Committee.
The complete text of the MRA/ARA can be found on NFA's website (
The following NFA Compliance staff members are responsible for this case: Valerie Kretschmer (312-781-1290) and Ryan Olszewski (312-781-1494).
NFA is the premier independent provider of innovative and efficient regulatory programs that safeguard the integrity of the futures markets.