Noting that the Metro Manila Development Authority (MMDA) is the only government agency vested with the power to implement a Single Ticketing System (STS) in the metropolis, the agency’s legal department chief yesterday opposed the idea of letting Metro Manila mayors enact a Uniform Traffic Management Code (UTMC) just so they could impose their own version of the scheme.
Lawyer Emmanuel de Castro said the Metro Manila Council (MMC), a group composed of Metro Manila’s local chief executives and MMDA Chairman Bayani Fernando as chairman, said a so-called Unified Ticketing System using Ordinance Violation Receipts (OVR) is not the same as an STS. Read full story on this site..
source: By Michael Punongbayan /philippine star
All Eyes On GDP, FOMC Wednesday - Economic Preview
April 29, 2008 4:28:32 PM - The Dow closed lower for the second session of the week Tuesday, as investors geared up for the much-anticipated FOMC announcement scheduled for Wednesday.
There will be several economic reports released tomorrow, including the ADP employment report, advanced GDP for the first quarter and Chicago PMI. At 8:15 am ET, the ADP employment report for April will be made public.
Analysts expect a loss of 60,000 jobs, compared with a meager gain of 8,000 in March. At 8:30 am ET advanced GDP for the first quarter 2008 will be released, giving a more concrete indication of whether or not the U.S. economy is in a recession.
Analysts are looking for a meager growth rate of 0.5 percent, compared with the fourth quarter 2007 growth rate of 0.6 percent. At 9:45 am ET, the Chicago PMI for April will be released. Analysts are expecting the index to shrink to 47.5 from March's 48.2.
Any reading below 50 indicates a contraction in the sector.
Also grabbing attention Wednesday is the FOMC decision on whether or not to change the federal funds rate. The Fed will announce their decision at 2:15 pm ET.
The Federal Reserve has cut the federal funds rate at 6 consecutive meetings, chopping 300 basis points off the rate bringing it from 5.25 percent to 2.25 percent. Investors are looking for the Fed to cut an additional 25 basis points, bringing the rate to a flat 2 percent.
source: © RTTNews.com
There will be several economic reports released tomorrow, including the ADP employment report, advanced GDP for the first quarter and Chicago PMI. At 8:15 am ET, the ADP employment report for April will be made public.
Analysts expect a loss of 60,000 jobs, compared with a meager gain of 8,000 in March. At 8:30 am ET advanced GDP for the first quarter 2008 will be released, giving a more concrete indication of whether or not the U.S. economy is in a recession.
Analysts are looking for a meager growth rate of 0.5 percent, compared with the fourth quarter 2007 growth rate of 0.6 percent. At 9:45 am ET, the Chicago PMI for April will be released. Analysts are expecting the index to shrink to 47.5 from March's 48.2.
Any reading below 50 indicates a contraction in the sector.
Also grabbing attention Wednesday is the FOMC decision on whether or not to change the federal funds rate. The Fed will announce their decision at 2:15 pm ET.
The Federal Reserve has cut the federal funds rate at 6 consecutive meetings, chopping 300 basis points off the rate bringing it from 5.25 percent to 2.25 percent. Investors are looking for the Fed to cut an additional 25 basis points, bringing the rate to a flat 2 percent.
source: © RTTNews.com
Trades around first support level 1.5584
Trades around first support level 1.5584 . Immediate support seen at 1.5483 while resistance seen at 1.5842 . Fri, 25 Apr 2008, 12:00 GMT
Moves down below opening price level 1.5684 , below pivot level 1.5741 . Immediate support seen at 1.5584 followed by 1.5483 , while resistance seen at 1.5842 . Fri, 25 Apr 2008, 06:58 GMT
Continues to move down below third support level 1.5690 . Immediate support seen at 1.5600 while resistance seen at 1.5974 . Thu, 24 Apr 2008, 16:07 GMT
Moves down below opening price level 1.5684 , below pivot level 1.5741 . Immediate support seen at 1.5584 followed by 1.5483 , while resistance seen at 1.5842 . Fri, 25 Apr 2008, 06:58 GMT
Continues to move down below third support level 1.5690 . Immediate support seen at 1.5600 while resistance seen at 1.5974 . Thu, 24 Apr 2008, 16:07 GMT
Forex Top Story
Flurry Of Economic Reports Including GDP, FOMC, And Employment Situation On Tap For Next Week - Economic Preview
Friday, April 25, 2008 4:29:46 PM - It was a session of modest gains on Wall Street, with the Dow closing up around 42 points. Next week, a plethora of economic reports will be released, a stark contrast to this week`s quiet economic front.
Canadian Dollar Mixed Against Major Counterparts [USD/CAD]
Friday, April 25, 2008 4:05:54 PM - The Canadian dollar was mixed in trading against other major currencies on Friday in New York. The loonie was lower against the greenback, higher against the euro and range-bound with the yen.
Oil Closes Above $118 Again
Friday, April 25, 2008 3:41:48 PM - Crude oil climbed above the $118 a barrel mark on Friday in U.S. trading. Light sweet crude for June delivery finished at $118.52, up $2.46 on the session. Prices touched a high of $119.54, an intraday high for the June contract.
Dollar Mixed As Consumer Mood Worsens [EUR/USD]
Friday, April 25, 2008 3:30:54 PM - The dollar levelled off from multi-week highs against most majors on Friday following weaker than excepted consumer sentiment figures.
Economic Round Up -- US Consumer Mood Sours, UK Economy Grows Slightly Slower Than Expected
Friday, April 25, 2008 3:04:45 PM - The lone economic release from the US proved to be a market mover, as the University of Michigan`s reported on consumer sentiment revealed the consumers mood darkened to levels not seen since the early 1980`s.
Gold Closes Up 30 Cents
Friday, April 25, 2008 3:03:29 PM - The price of gold closed modestly higher on Friday in U.S. trading after extending a 3 1/2 week low earlier in the day. Gold for June delivery moved to $889.70, down 30 cents for the day. The metal reached as low as $880.00 in electronic trading, its lowest level since April 1.
Yen Mixed Versus Major Counterparts [USD/JPY]
Friday, April 25, 2008 2:39:09 PM - The yen was mixed against other major currencies on Friday in New York. The Japanese currency fell to a short-term low against the pound and also moved to a multi-week low against the dollar before rebounding. The yen moved to a short-term high against the euro.
source: RTTNews.com
Friday, April 25, 2008 4:29:46 PM - It was a session of modest gains on Wall Street, with the Dow closing up around 42 points. Next week, a plethora of economic reports will be released, a stark contrast to this week`s quiet economic front.
Canadian Dollar Mixed Against Major Counterparts [USD/CAD]
Friday, April 25, 2008 4:05:54 PM - The Canadian dollar was mixed in trading against other major currencies on Friday in New York. The loonie was lower against the greenback, higher against the euro and range-bound with the yen.
Oil Closes Above $118 Again
Friday, April 25, 2008 3:41:48 PM - Crude oil climbed above the $118 a barrel mark on Friday in U.S. trading. Light sweet crude for June delivery finished at $118.52, up $2.46 on the session. Prices touched a high of $119.54, an intraday high for the June contract.
Dollar Mixed As Consumer Mood Worsens [EUR/USD]
Friday, April 25, 2008 3:30:54 PM - The dollar levelled off from multi-week highs against most majors on Friday following weaker than excepted consumer sentiment figures.
Economic Round Up -- US Consumer Mood Sours, UK Economy Grows Slightly Slower Than Expected
Friday, April 25, 2008 3:04:45 PM - The lone economic release from the US proved to be a market mover, as the University of Michigan`s reported on consumer sentiment revealed the consumers mood darkened to levels not seen since the early 1980`s.
Gold Closes Up 30 Cents
Friday, April 25, 2008 3:03:29 PM - The price of gold closed modestly higher on Friday in U.S. trading after extending a 3 1/2 week low earlier in the day. Gold for June delivery moved to $889.70, down 30 cents for the day. The metal reached as low as $880.00 in electronic trading, its lowest level since April 1.
Yen Mixed Versus Major Counterparts [USD/JPY]
Friday, April 25, 2008 2:39:09 PM - The yen was mixed against other major currencies on Friday in New York. The Japanese currency fell to a short-term low against the pound and also moved to a multi-week low against the dollar before rebounding. The yen moved to a short-term high against the euro.
source: RTTNews.com
Forex News..
New York Stock Exchange traders gather as Wall Street rally Wednesday after quarterly results from JPMorgan Chase & Co., and two other Dow Jones industrials raised investors' hopes that companies and the economy are recovering from the protracted global credit crisis.
source: AP/gmanews.tv
Rice... todays news.
A young girl tries to pick up a pack of rice she bought at the NFA warehouse on Visayas Avenue in Quezon City on Tuesday.
source: GMANews.TV
Forex News Headlines....
Pair Of Fed Officials, Data On Consumer Price Inflation Highlight Wednesday - Economic Preview
Tuesday, April 15, 2008 4:51:01 PM - With a pair of conflicting economic report released earlier in the session, stocks experienced choppy trading throughout the day on Tuesday, although they ultimately closed modestly higher. Wednesday a series of economic reports, including the sensitive consumer price index as well as comments from two Federal Reserve officials should keep investors busy.
Oil Soars To Record Levels Again
Tuesday, April 15, 2008 3:37:24 PM - Crude oil prices soared to record levels again on Tuesday. Light sweet crude for May delivery closed at $113.79, up $2.03 on the session. Oil hit as high as $113.99, another intraday all-time high. The old record of $112.21 was set last week.
Dollar Gains On Most Majors After Wholesale Prices Rise More Than Expected [EUR/USD]
Tuesday, April 15, 2008 3:14:00 PM - The greenback was stronger versus most of its major counterparts on Tuesday, rising to a new multi-week high versus the sterling and firming up slightly against the euro. Traders took in data showing wholesale price growth in March came in well above expectations, with significant increases in food and energy prices contributing to the faster than expected growth.
Gold Closes Moderately Higher
Tuesday, April 15, 2008 2:56:24 PM - Gold closed mildly higher on Tuesday after giving back a good chunk of its earlier gains. Gold for June delivery climbed to $932.00, up $3.30 on the session. The metal moved as high as $939.80, challenging last week`s record high crossing of $943.40.
Japanese Yen Mixed Versus Major Rivals [USD/JPY]
Tuesday, April 15, 2008 2:33:14 PM - The Japanese yen was mixed against the other majors on Tuesday in New York. The currency was lower against the dollar, higher against the pound and even with the euro. Trading took place amid the release of a monthly statistical report from the Japan Real Estate Institute that said condominium sales in Tokyo fell 17.8% on an annual basis in March.
Global Round-Up -- J&J-Led Rally Dissipates On Inflation Surprise, Record High Crude Prices
Tuesday, April 15, 2008 1:54:18 PM - Wall Street muddled through another lackluster session on Tuesday, with traders sifting through inflation data and a report on manufacturing as oil prices rose to record highs. A positive quarterly result from Johnson&Johnson fueled strength at the opening bell, but higher oil prices eventually ate into the gains. Many Americans finished filing income-tax returns Tuesday.
source: © RTTNews.com
Tuesday, April 15, 2008 4:51:01 PM - With a pair of conflicting economic report released earlier in the session, stocks experienced choppy trading throughout the day on Tuesday, although they ultimately closed modestly higher. Wednesday a series of economic reports, including the sensitive consumer price index as well as comments from two Federal Reserve officials should keep investors busy.
Oil Soars To Record Levels Again
Tuesday, April 15, 2008 3:37:24 PM - Crude oil prices soared to record levels again on Tuesday. Light sweet crude for May delivery closed at $113.79, up $2.03 on the session. Oil hit as high as $113.99, another intraday all-time high. The old record of $112.21 was set last week.
Dollar Gains On Most Majors After Wholesale Prices Rise More Than Expected [EUR/USD]
Tuesday, April 15, 2008 3:14:00 PM - The greenback was stronger versus most of its major counterparts on Tuesday, rising to a new multi-week high versus the sterling and firming up slightly against the euro. Traders took in data showing wholesale price growth in March came in well above expectations, with significant increases in food and energy prices contributing to the faster than expected growth.
Gold Closes Moderately Higher
Tuesday, April 15, 2008 2:56:24 PM - Gold closed mildly higher on Tuesday after giving back a good chunk of its earlier gains. Gold for June delivery climbed to $932.00, up $3.30 on the session. The metal moved as high as $939.80, challenging last week`s record high crossing of $943.40.
Japanese Yen Mixed Versus Major Rivals [USD/JPY]
Tuesday, April 15, 2008 2:33:14 PM - The Japanese yen was mixed against the other majors on Tuesday in New York. The currency was lower against the dollar, higher against the pound and even with the euro. Trading took place amid the release of a monthly statistical report from the Japan Real Estate Institute that said condominium sales in Tokyo fell 17.8% on an annual basis in March.
Global Round-Up -- J&J-Led Rally Dissipates On Inflation Surprise, Record High Crude Prices
Tuesday, April 15, 2008 1:54:18 PM - Wall Street muddled through another lackluster session on Tuesday, with traders sifting through inflation data and a report on manufacturing as oil prices rose to record highs. A positive quarterly result from Johnson&Johnson fueled strength at the opening bell, but higher oil prices eventually ate into the gains. Many Americans finished filing income-tax returns Tuesday.
source: © RTTNews.com
EUR/USD Moves up above first resistant level 1.5782 Todays Tips
Moves up above first resistant level 1.5782 . Immediate resistance seen at 1.58551 while support seen at 1.5658 . Wed, 9 Apr 2008, 16:01 GMT
Continues to trade around pivot level 1.5727 . Immediate resistance seen at 1.5782 while support seen at 1.5658 . Wed, 9 Apr 2008, 12:04 GMT
Moves up above pivot level 1.5727 . Immediate resistance seen at 1.5782 while support seen at 1.5658 . Wed, 9 Apr 2008, 06:55 GMT
Continues to trade around pivot level 1.5727 . Immediate resistance seen at 1.5782 while support seen at 1.5658 . Wed, 9 Apr 2008, 12:04 GMT
Moves up above pivot level 1.5727 . Immediate resistance seen at 1.5782 while support seen at 1.5658 . Wed, 9 Apr 2008, 06:55 GMT
source: fxstreet.com
Todays News..
US stocks fall as oil jumps; UPS warns
NEW YORK - Wall Street extended its losses Wednesday as a rise in oil prices and a profit warning from shipping concern UPS stirred concerns about the well-being of the economy. More
American Airlines cancels more than 1,000 flights
DALLAS - American Airlines canceled more than 1,000 flights Wednesday, more than one-third of its schedule, as it spent a second straight day inspecting the wiring on some of its jets — the same issue that caused it to scrub hundreds of flights two weeks ago. More
Toyota recalling Corolla, Matrix cars in US because of power windows
WASHINGTON – Toyota Motor Corp. is recalling 539,500 Corolla and Matrix passenger cars in the United States because the bolts in the power window system can become loose and ultimately cause a window to shatter. More
source: gmanews.com
NEW YORK - Wall Street extended its losses Wednesday as a rise in oil prices and a profit warning from shipping concern UPS stirred concerns about the well-being of the economy. More
American Airlines cancels more than 1,000 flights
DALLAS - American Airlines canceled more than 1,000 flights Wednesday, more than one-third of its schedule, as it spent a second straight day inspecting the wiring on some of its jets — the same issue that caused it to scrub hundreds of flights two weeks ago. More
Toyota recalling Corolla, Matrix cars in US because of power windows
WASHINGTON – Toyota Motor Corp. is recalling 539,500 Corolla and Matrix passenger cars in the United States because the bolts in the power window system can become loose and ultimately cause a window to shatter. More
source: gmanews.com
Todays News..
People in search of cheap NFA rice form a line at the Transfiguration of Our Lord parish church in Murphy, Quezon City, on Wednesday.
by: Charlie Magno/gmanews.com
Todays Forex News
Yen Slips Versus Other Majors [USD/JPY]
Wednesday, April 02, 2008 2:47:04 PM - The Japanese yen saw weakness against the other major currencies on Wednesday in New York. Traders considered data showing the monetary base in Japan was virtually unchanged in the month of March, the Bank of Japan said today, standing at 88.38 trillion yen.
Dollar Eases To Euro, Extends Gains Versus Yen After Jobs Report [EUR/USD]
Wednesday, April 02, 2008 2:29:36 PM - The dollar went back on the defensive versus the euro but extended its recent gains versus the yen on Wednesday, with traders reacting to data signalling resilience in the US jobs market.
Global Round-Up For Wednesday -- Bernanke Signals Economy May Contract In 1H 2008
Wednesday, April 02, 2008 2:06:00 PM - Federal Reserve Chairman Ben Bernanke took to Capitol Hill on Wednesday to deliver testimony`s on the US economy to a joint Congressional committee. Market watchers worldwide were seeking insights about the health of the world`s biggest economy and on the Fed`s role in brokering the takeover of Bear Stearns by rival JP Morgan Chase.
Sterling Gains Ground Versus Majors [GBP/USD]
Wednesday, April 02, 2008 11:21:54 AM - The sterling gained on the other major currencies on Wednesday in New York. The British currency was up for the day against the euro, dollar, yen and others. The statistical office Destatis said Tuesday that German retail sales declined 1.6% month-on-month in February, while economists had forecasted a 0.5% rise.
Europe Round Up - Producer Price Inflation Accelerates In Euro Zone
Wednesday, April 02, 2008 10:46:58 AM - A report on producer price inflation in the Euro zone was the major news on Wednesday. Outside Euro zone, several reports were released from the UK.
Factory Orders Fell More Than Expected In February
Wednesday, April 02, 2008 10:31:28 AM - Orders for manufactured goods fell more than economists had been excepting in February, according to a report released by the Department of Commerce on Wednesday, with orders for both durable and non-durable goods showing notable declines.
source:RTTNews.com
Wednesday, April 02, 2008 2:47:04 PM - The Japanese yen saw weakness against the other major currencies on Wednesday in New York. Traders considered data showing the monetary base in Japan was virtually unchanged in the month of March, the Bank of Japan said today, standing at 88.38 trillion yen.
Dollar Eases To Euro, Extends Gains Versus Yen After Jobs Report [EUR/USD]
Wednesday, April 02, 2008 2:29:36 PM - The dollar went back on the defensive versus the euro but extended its recent gains versus the yen on Wednesday, with traders reacting to data signalling resilience in the US jobs market.
Global Round-Up For Wednesday -- Bernanke Signals Economy May Contract In 1H 2008
Wednesday, April 02, 2008 2:06:00 PM - Federal Reserve Chairman Ben Bernanke took to Capitol Hill on Wednesday to deliver testimony`s on the US economy to a joint Congressional committee. Market watchers worldwide were seeking insights about the health of the world`s biggest economy and on the Fed`s role in brokering the takeover of Bear Stearns by rival JP Morgan Chase.
Sterling Gains Ground Versus Majors [GBP/USD]
Wednesday, April 02, 2008 11:21:54 AM - The sterling gained on the other major currencies on Wednesday in New York. The British currency was up for the day against the euro, dollar, yen and others. The statistical office Destatis said Tuesday that German retail sales declined 1.6% month-on-month in February, while economists had forecasted a 0.5% rise.
Europe Round Up - Producer Price Inflation Accelerates In Euro Zone
Wednesday, April 02, 2008 10:46:58 AM - A report on producer price inflation in the Euro zone was the major news on Wednesday. Outside Euro zone, several reports were released from the UK.
Factory Orders Fell More Than Expected In February
Wednesday, April 02, 2008 10:31:28 AM - Orders for manufactured goods fell more than economists had been excepting in February, according to a report released by the Department of Commerce on Wednesday, with orders for both durable and non-durable goods showing notable declines.
source:RTTNews.com
Todays Forex News
Loonie Gains Versus Other Majors [USD/CAD]
Wednesday, April 02, 2008 4:12:34 PM - The Canadian dollar saw strength against its major counterparts on Wednesday in New York. The loonie hit a weekly-high against its neighboring counterpart from south of the border and also rallied to short-term high against some others.
Crude Oil Surges To Challenge $105
Wednesday, April 02, 2008 3:49:33 PM - Oil prices surged higher on Wednesday as Fed chief Ben Bernanke`s remarks to congress that a recession is possible led traders to turn to the hedge of commodities. Light sweet crude for May delivery closed at $104.83, up $3.85 on the session on the session. Prices dropped to as low as $99.84 after the Department Energy released its report on oil inventories in the week ended March 28, showing that crude oil inventories rose much more than expected while gasoline inventories fell more than expected.
Gold Rises After Bernanke`s Remarks
Wednesday, April 02, 2008 3:14:10 PM - Gold prices gained on Wednesday after Fed chief Ben Bernanke said that he believed the economy may see further weakness, boosting gold`s hedge value. June gold finished the session at $900.20, up $12.40 on the session. With the rally, the metal took back a portion of its sharp losses from the three previous sessions.
source:RTTNews.com
Wednesday, April 02, 2008 4:12:34 PM - The Canadian dollar saw strength against its major counterparts on Wednesday in New York. The loonie hit a weekly-high against its neighboring counterpart from south of the border and also rallied to short-term high against some others.
Crude Oil Surges To Challenge $105
Wednesday, April 02, 2008 3:49:33 PM - Oil prices surged higher on Wednesday as Fed chief Ben Bernanke`s remarks to congress that a recession is possible led traders to turn to the hedge of commodities. Light sweet crude for May delivery closed at $104.83, up $3.85 on the session on the session. Prices dropped to as low as $99.84 after the Department Energy released its report on oil inventories in the week ended March 28, showing that crude oil inventories rose much more than expected while gasoline inventories fell more than expected.
Gold Rises After Bernanke`s Remarks
Wednesday, April 02, 2008 3:14:10 PM - Gold prices gained on Wednesday after Fed chief Ben Bernanke said that he believed the economy may see further weakness, boosting gold`s hedge value. June gold finished the session at $900.20, up $12.40 on the session. With the rally, the metal took back a portion of its sharp losses from the three previous sessions.
source:RTTNews.com
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