Daily Archives: February 24, 2011

Crude Oil breaks the $100 mark

Posted on February 24, 2011 by GCI Financial

Central bank expectations and yield adjustments remain the key driver for FX markets but jitters over the situation in the Middle East and its wider impact are now proving too hard to ignore. Although markets have managed to segregate event risk, Brent and WTI crude futures have broken through $110/bbl and $100/bbl respectively – levels which could prove damaging to the global economy at a particularly crucial time in the recovery. Continue reading →

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Continues to surge, though lower this morning

Posted on February 24, 2011 by GCI Financial

Oil prices advanced 3.62% against the USD for the 24 hour period ending 23:00GMT, closing at 99.26. American Petroleum Institute, reported that crude-oil inventories rose by 163,000 barrels in the week to February 18. Additionally, gasoline supplies declined by 1.6 … Continue reading →

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Marginally lower this morning, after recent rise

Posted on February 24, 2011 by GCI Financial

Silver prices rose 1.36% to USD 33.57 per ounce during the 24 hours ending 23:00GMT. In the Asian session at 4:00GMT, silver is trading at USD 33.49 per ounce, 0.24% lower, from 23:00GMT. The first level of short term resistance … Continue reading →

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Cooling off this morning

Posted on February 24, 2011 by GCI Financial

Gold prices traded higher by 0.96% against the USD in the 24 hour period ending 23:00GMT, at 1,412.29 per ounce. Gold futures hiked in NY session, buoyed up by safe- haven demands amid violence and protests in the Middle East. … Continue reading →

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Flat this morning, Showing convergence with short term MA’s

Posted on February 24, 2011 by GCI Financial

For the 24 hours to 23:00 GMT, AUD strengthened 0.44% against the USD to close at 1.0021. The Conference Board Leading Economic Index for Australia rose by 0.7% in December 2010 from a revised increase of 0.2% in November. Additionally, … Continue reading →

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Trading lower this morning

Posted on February 24, 2011 by GCI Financial

For the 24 hours to 23:00 GMT, USD declined 0.03% against the CAD to close at 0.9903. The US Philadelphia Federal Reserve President, Charles Plosser indicated that if recovery gains strength, he would vote to cut short the Fed’s $600.0 … Continue reading →

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CHF continues to cement gains

Posted on February 24, 2011 by GCI Financial

For the 24 hours to 23:00 GMT, USD declined 0.52% against the CHF and closed at 0.9335. In Switzerland, producer and import prices rose by 0.1% (M-o-M) compared to a 0.3% increase posted in the previous month. In the US, … Continue reading →

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Yen continues its upward journey

Posted on February 24, 2011 by GCI Financial

For the 24 hours to 23:00 GMT, USD weakened 0.30% against the JPY and closed at 82.52. In the Asian session at 4:00GMT, the pair is trading lower from the New York close, by 0.39%, at 82.20. The first short … Continue reading →

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BoE’s policy meeting indicates greater support for raising rates

Posted on February 24, 2011 by GCI Financial

For the 24 hours to 23:00 GMT, GBP rose 0.47% against the USD and closed at 1.6213. Minutes from the BoE’s policy meeting earlier this month indicated greater support among officials for raising interest rates. In the UK, BBA mortgage … Continue reading →

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Zooming higher

Posted on February 24, 2011 by GCI Financial

For the 24 hours to 23:00 GMT, EUR rose 0.69% against the USD and closed at 1.3749. In the EU, Industrial new orders rose by 2.1% (M-o-M) in December after 2.2% rise the previous month. Meanwhile, the Bundesbank President, Axel … Continue reading →

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