Daily Archives: February 28, 2011

RBNZ to cut the OCR by 50bp

Posted on February 28, 2011 by GCI Financial

FX price action showed little conviction during the Asia session, an understandable reaction to the general lack of news flow. EURUSD traded 1.3712-1.3767 and USDJPY traded 81.62-81.76. Our team of analysts now expects the RBNZ to cut the OCR by 50bp at the upcoming policy meeting, in response to last week’s tragic earthquake. Brent crude pushed even higher on supply concerns, and is trading at $113.88/bbl at the time of writing; gold is hovering at $1413.95/oz. Continue reading →

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Oil continues to surge on Middle East unrest

Posted on February 28, 2011 by GCI Financial

Oil prices advanced 1.49% against the USD for the 24 hour period on Friday, ending 23:00GMT, closing at 98.24. Oil advanced as the worsening situation in the Middle East stirred renewed concern about disruptions to oil production. At GMT 0400, … Continue reading →

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Zooms higher this morning

Posted on February 28, 2011 by GCI Financial

Silver prices rose 1.25% to USD 33.16 per ounce during the 24 hours on Friday, ending 23:00GMT. In the Asian session at 4:00GMT, silver is trading at USD 33.54 per ounce, 1.15% higher, from 23:00GMT. The first level of short … Continue reading →

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Continues to shine; holding above 1400 levels

Posted on February 28, 2011 by GCI Financial

Gold prices traded higher by 0.47% against the USD in the 24 hour period on Friday, ending 23:00GMT, at 1409.16 per ounce. In the Asian session at 4:00GMT, gold is trading at USD 1413.86 per ounce, 0.33% higher from 23:00GMT. … Continue reading →

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Lower on broad dollar strength

Posted on February 28, 2011 by GCI Financial

For the 24 hours to 23:00 GMT, AUD strengthened 0.70% against the USD on Friday to close at 1.0176. In Australia, the total credit provided to the private sector by financial intermediaries rose by 0.3% (M-o-M) in January 2011, following … Continue reading →

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Marginally lower this morning

Posted on February 28, 2011 by GCI Financial

For the 24 hours to 23:00 GMT, USD declined 0.42% against the CAD on Friday to close at 0.9788. The Canadian dollar rose on Friday as crude oil, the nation’s biggest export, had gained significantly in the last week. In … Continue reading →

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Steady this morning

Posted on February 28, 2011 by GCI Financial

For the 24 hours to 23:00 GMT, USD rose 0.23% against the CHF on Friday and closed at 0.9284. In Switzerland, KOF leading economic indicator advanced to a reading of 2.18 in February, following a previously revised reading of 2.16 … Continue reading →

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Continues to display low volatility, Japanese data disappoints

Posted on February 28, 2011 by GCI Financial

For the 24 hours to 23:00 GMT, USD weakened 0.21% against the JPY on Friday and closed at 81.76. In Japan, today morning releases, industrial production rose by 2.4% (M-o-M) in January 2011, following a revised 3.3% growth posted in … Continue reading →

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Continues to trade lower this morning, after a lower close on Friday

Posted on February 28, 2011 by GCI Financial

For the 24 hours to 23:00 GMT, GBP fell 0.15% against the USD on Friday and closed at 1.6117. In the UK, fourth quarter GDP contracted by 0.6% (Q-o-Q). Additionally, the GDP grew 1.5% (Y-o-Y) in 4Q FY2010. Total business … Continue reading →

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Trading flat this morning

Posted on February 28, 2011 by GCI Financial

For the 24 hours to 23:00 GMT, EUR declined 0.37% against the USD on Friday and closed at 1.3754. In the EU, M3 money supply rose by 1.7% (Q-o-Q) in January from 1.6% in the previous quarter. Additionally, in Germany, … Continue reading →

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