Fiscal deal stalls as clock ticks to deadline

on , from reuters.com

Efforts to prevent the economy from tumbling over a "fiscal cliff" stalled on Sunday as Democrats and Republicans remained at loggerheads over a deal that would prevent taxes for all Americans from rising on New Year's Day. One hour before they had hoped to present a plan, Democratic and Republican Senate leaders said they were still unable to reach a compromise that would stop the automatic tax hikes and spending cuts that could push the U.S. economy back into recession. "There are still serious differences between the two sides," said Senate Democratic leader Harry ... (Read the full story)

Meditative Trading - A Urgent Need

on , from forex-trading-relief.net

Emotional intelligence is the true trading reality. The concept of emotional intelligence is to perform very well under adversity, being in a state of mind where ordinary reflection and rationality is totally useless... That's what every trader faces in his daily activities. Pressure of the market is so heavy and strong that all techniques and market knowledge come to a point where they are of little importance. When you are trading under stress Your thoughts start racing and you cannot slow them down. You must get up and leave the trading arena to calm down before making a trading mistake, as usual. ... (Read the full story)

PBOC Targets Financial Risk After Non-Bank Lending Surge

on , from bloomberg.com

China’s central bank said it will focus on controlling risks in the financial system and seek “stable and appropriate” growth in aggregate financing, a measure of funding that includes loans and stock and bond sales. The People’s Bank of China also said it will stick to a prudent monetary policy next year and try to stabilize growth, rebalance the economy and contain inflation. The four-paragraph statement released late Dec. 28 after a quarterly meeting of the monetary policy committee, mostly reiterated the stance set out at a government work conference earlier this month. The PBOC’s addition of ... (Read the full story)

China should cut RRR, widen yuan band in 2013

on , from reuters.com

China should cut banks' reserve requirement ratios (RRR) in 2013 to support economic growth while widening the yuan's floating range to make it more flexible, the head of the cabinet's think-tank said in comments published on Monday. Chinese leaders have promised to maintain a prudent monetary policy and pro-active fiscal policy in 2013, leaving room for manoeuvre in the face of global economic risks while deepening reforms to support long-term growth. "We should keep appropriate base money growth through various measures, cut RRR at the proper time based on changes in monetary conditions," ... (Read the full story)

Dollar shows signs of pullback at key resistance level

on , from dailyfx.com

The US Dollar has stalled at key chart resistance, with candlestick positioning now showing early signs of a possible turn lower in the days ahead. US DOLLAR TECHNICAL ANALYSIS– Prices put in a Shooting Star candlestick below resistance at 10044, the 32.8%Fibonacci expansion, hinting a move lower may be ahead. Resistance is reinforced rising trend line support-turned-resistance set from the September 14 low (10055). Initial support marked by the 23.6% expansion at 9995. Alternatively, a reversal above resistance targets the 50% level at 10082. S&P 500 TECHNICAL ANALYSIS – Prices broke down as ... (Read the full story)

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