Use rewards credit cards to get the best offers!

To be sure, rewards credit card offers have been introduced for a long time in one form or another and they always change. You can find a lot of potential advantages with the acquisition and use of these types of credit cards. The fact is that these rewards cards can be very useful as long as you choose them with caution.

Some rewards credit cards give you bonus points redeemable for specific things, such as cash back on the things you buy from the merchants specified, free airline tickets, gasoline discounts and restaurant coupons. Read the full article…

S&P 500 Decouples from Euro?

While I have written quite about forex correlations in recent posts, the focus has primarily been on correlations that exist between currencies. In this post, I would like to address a correlation that exists between currencies and other forex markets- specifically the relationship between the Euro and US stocks.

If you look at the chart above, you can see that an unmistakable correlation exists between the S&P500 and the EUR/USD that stretches back at least six months. Generally speaking, when the EURUSD has risen, so has the S&P 500, and vice versa. In fact, this correlation is so airtight that one analyst recently discovered that the two financial vehicles often reach intra-day highs and lows within minutes of one another!

Why is this the case?

Read the full article…

The IG Index Insight Feature – A Useful Tool Or Not?

If you have an account with IG Index, you may well have noticed that they have just created a new research tool called Insight. This is available to all customers free of charge, and it allows you to research and analyse various different financial markets, including each of the currency pairs, in some detail.

It includes things like live prices, streaming news, an economic calendar and commentary of various markets, as well as custom price charts (all on one screen), and the ability to place orders from this page as well. However one of the more interesting features is that it tells you what positions other IG Index traders are opening right now, and how they are trading.

For example when I log in and open the Insight tool, I can instantly see which UK companies have the most open positions, and which way traders are trading this stock.

Read the full article…

Asset Acceptance’s New Required “We Will Not Sue” Disclosure

Asset Acceptance, one of the biggest and most-complained about debt collectors/debt purchasers, recently agreed to a $2.5 million settlement to an FTC lawsuit. Asset Acceptance faced a slew of allegations including collecting debts from identity theft victims, providing false information to the credit bureaus, pursuing debts after the statute of limitations expired, and tricking consumers into restarting the statute of limitations.

As part of the settlement, Asset Acceptance is required to investigate consumer disputes over debt validity and notify consumers before placing negative information on their credit reports.

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The size of Apple and its cash in relative terms

After last week’s earnings releases, everyone’s eyes were on Apple as it crushed analysts’ estimates with its Q1 earnings. Since Apple’s market value is now beyond the 400 billion USD, let’s look at what the company is worth in relative terms.

• Apple’s total market value is about the same as Norway’s GDP in 2010 (413bn USD)  and is significantly larger than Denmark’s GDP (2010: 310bn USD)
• Being Icelandic I also find it interesting that Apple’s market value is roughly 32x larger than the 2010 GDP of my home country (12.5bn USD).
• For the price of 400bn USD one could also pick one of the following large countries and pay down their total external debt; Russia, Brazil, Turkey, India and more.

In Q1, Apple reported 97.6bn USD cash balance, determined by cash & cash equivalents. Don’t take this Read the full article…

Platinum-The untouchable metal

Platinum Reaches 5 month High

I always go on about Gold and Silver but never give enough respect to Platinum.

Currently rising to a 5 month high due to strikes in South Africa’s’ Rustenburg Mine, which happens to be the world’s largest Platinum mine.
The strike is set to go on for another week, and we cannot rule out the prospect of other workers striking in the surrounding South African mines.
Due to its solid upward performance over the months, Platinum has now closed the gap on its rival Gold.

Below you will find the Platinum Daily Chart:

As you can see, the thick yellow trend line indicates the solid uptrend over the months.

As long as the strikes continue , platinum may remain on the up.

FOREX NEWS – Euro boosted by PMIs; counters Greek setback

Euro zone service sector PMI eases recession fears

Euro rises to near 3week high versus dollar, 4week high versus yen

Negotiations over Greek debt stall but hope for deal still alive

LONDON, Jan 24 The euro hit a near threeweek peak in volatile trade versus the dollar on Tuesday as a survey of the euro zone service sector topped forecasts and eased fears of a recession, though markets were edgy as talks to avert a messy Greek default stalled.

Surveys showed the euro zone may yet escape recession thanks to a surprise upturn in the service sector which offset ongoing contraction in manufacturing this month, briefly pushing the euro to the day’s highs.

“Germany’s recent ZEW survey was better than expected and now its PMI is also better which is lifting the overall PMI survey for the euro zone,” said Jane Foley, senior currency strategist at Rabobank.

“The market has been positioned for a downturn in Germany and maybe it has got too pessimistic on that front for now,” she added.

The common currency rose to its highest in nearly threeweeks versus the dollar of $1.3063 on trading platform EBS, before falling back to $1.3010, down 0.1 percent for the day.

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Mid-Day Report: Dollar Broadly Lower on Risk Appetite, Greece Still Awaited

Dollar is broadly lower today as risk appetites are lifted by German bill auction and bank stocks. Germany sold EUR 2.54b of 12-mont h bills today at average yield of 0.07%. That yield was much lower than October’s 0.346%. The auction attracted solid demand of EUR 5.53b of bids. Meanwhile, banking stocks in UK saw impressive strength with strong advance in RBS, Lloyds and HSBC leading FTSE and other major European indices higher. Dollar index is back below 80 psychological level and is set to take on 79.51 support.

Main focus remain on Greece and the EcoFin meeting in Eurozone. There is no details announced on Greece’s debt swap deal with private sector yet. But it’s believed that private bond holders are willing to take a loss of around 65 to 70% off their Greek debts. However, it’s still uncertain however the over deal could help Greece lower debt to 120% of GDP in 2020.

Read the full article…