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3 Win Frenzied Mega Millions Lottery

Would you rather have $1 to spend, or $1.49 billion?

For winners in three states, all it took was a dollar to cash in and reap the rewards of Friday’s record-setting Mega Millions jackpot. By picking the same winning numbers — 2, 4, 23, 38, 46 with a Mega Ball of 23 — they earned an equal share of the $656 million jackpot, which amounts to about $218 million each, before taxes, under the annuity option.

Lottery players dished out a cumulative $1,491,082,267 since the game’s last big winner emerged in late January. Except for a few smaller payouts, all that worked out to next to nothing. Read more text…

What makes Roth IRA, a Sound Investment Option?

Before investing in any retirement fund, you must know the benefits of saving money with the same. You can find them by visiting roth-ira.org. Roth IRA is a retirement fund, which has been gaining popularity off-late since one can benefit from rising taxes owing to fluctuations in the country’s economy. You pay your after-tax money along with your investment during your working years which leaves you less worried about paying taxes after retirement. W Read more text…

AUD/USD: Trading the Australia Employment Report

Trading the News: Australia Employment Change

What’s Expected:

Time of release: 05/12/2011 1:30 GMT, 21:30 EST

Primary Pair Impact:AUDUSD

Expected: 17.0K

Previous: 37.8K

DailyFX Forecast: 10.0K to 25.0K

Why Is This Event Important:

Employment in Australia is projected to increase another 17.0K in April after expanding 37.8K during the previous month, and the ongoing improvement in the labor market should spur a bullish reaction in the high-yielding currency as policy makers maintain a positive outlook for the region. A

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What is Spread? FX Explained

To understand the concept of spread in foreign exchange trading, first consider the way in which currency is exchanged in the foreign exchange market. During your research, you have no doubt come across the term ‘currency pair’. In all forex transactions one currency is being exchanged for another and the way in which prices are quoted in forex markets is as a currency pair. For example if you wanted to use US dollars to purchase Australian dollars, you would need to consult the AUD/USD currency pair. The first currency in the pair is known as the base currency and the second currency is known as the quote currency. The price is the amount of quote currency you need to buy one unit of base currency.

For example: When this article was written, the AUD/USD currency pair was trading at 1.0676. So f

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Daily Forex Update: AUD/USD

Analyst, Autochartist

AUD/USD has just completed the uniform Rising Wedge chart pattern identified by Autochartist on the daily charts. The Quality of this chart pattern is measured at the below average 4 bar level as a result of the low Initial Trend and Clarity (rated at the 2 bar and the 3 bar level respectively) and significant Uniformity (7 bars). This chart pattern is continuing the prevailing uptrend visible on the daily, weekly and the monthly charts.

The bottom of this chart pattern (Point C on the chart below) formed at the combined support made out of the round price level 1.0400 and 50% Fibonacci Retracement of the sharp preceding upward impulse. Point A formed when the price retraced down from the resistance trendline of the preceding correction to the aforementioned upward impulse (as is shown on the second chart below).

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AUD/USD: Trading the Australia Consumer Price Report

Trading the News: Australia Consumer Price Index

What’s Expected:

Time of release: 07/27/2011 1:30 GMT, 21:30 EST

Primary Pair Impact:AUDUSD

Expected: 3.4%

Previous: 3.3%

DailyFX Forecast: 3.3% to 3.5%

Why Is This Event Important:

The headline reading for Australian inflation is expected to increase at an annualized pace of 3.4% in the second-quarter, which would be the fastest pace of growth since the end of 2008, and the consumer price report could spark a bullish reaction in the AUD/USD as it raises speculation for higher interest rates. A

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USD/CAD: Trading Canada’s Retail Sales Report

Trading the News: Canada Retail Sales

What’s Expected:

Time of release: 07/22/2011 12:30 GMT, 8:30 EST

Primary Pair Impact:USDCAD

Expected: -0.3%

Previous: 0.3%

DailyFX Forecast: -0.6% to 0.2%

Why Is This Event Important:

Retail sales in Canada is expected to contract 0.3% in May after rising 0.3% in the previous month, and a drop in household spending is likely to spark a bearish reaction in the loonie as it instills a weakened outlook for future growth. A

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Larry Summers on Tech Valuations

Larry Summers can be called many things. Dumb ain’t one of them. This is what he says of tech valuations:

If you look at the price earnings ratio for technology companies relative to the price earnings ratios for all industrial companies, you take that ratio, PE technology divided by PE industrial, you can plot that ratio over the last 40 years, and it is at the lowest point that it’s ever been.

This is what he has to say of his portrayal in the movie, The Social Network.

One of the things you learn as a college president is that if an undergraduate is wearing a tie and jacket on Thursday afternoon at three o’clock, there are two possibilities. One i

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