Daily Archives: March 4, 2011

The dollar stabilized against the euro after yesterday’s heavy losses

Posted on March 4, 2011 by GCI Financial

The absence of news flow and economic data releases made for a quiet Asia session. The dollar stabilized against the euro after yesterday’s heavy losses in the wake of ECB President Trichet’s hawkish commentary. EURUSD traded 1.3930-1.3972, USDJPY 81.73-82.52. Continue reading →

Posted in Market Snapshot | Leave a comment

Crude Oil: Recoups from yesterday’s fall

Posted on March 4, 2011 by GCI Financial

Oil prices declined 0.61% against the USD for the 24 hour period ending 23:00GMT, closing at 101.72, on the news that attempts to mediate a peace agreement in Libya were in progress. At GMT 0400, Oil is trading at USD … Continue reading →

Posted in Crude Oil | Leave a comment

Silver: Continues to witness high volatility

Posted on March 4, 2011 by GCI Financial

Silver prices declined 1.07% to USD 34.24 per ounce during the 24 hours ending 23:00GMT. In the Asian session at 4:00GMT, silver is trading at USD 34.40 per ounce, 0.47% higher, from 23:00GMT. The first level of short term resistance … Continue reading →

Posted in Silver | Leave a comment

Gold: Regaining some losses this morning

Posted on March 4, 2011 by GCI Financial

Gold prices traded lower by 1.33% against the USD in the 24 hour period ending 23:00GMT, at 1,415.51 per ounce, after the ECB President’s statement that euro-zone interest rates could be raised in the next month to curb inflation. In … Continue reading →

Posted in Gold | Leave a comment

AUD/USD: Witnessing flat trading this morning

Posted on March 4, 2011 by GCI Financial

For the 24 hours to 23:00 GMT, AUD weakened 0.31% against the USD to close at 1.0130. In the Asian session at 4:00GMT, the pair is trading at 1.0130, flat from the New York session close. LME Copper prices rose … Continue reading →

Posted in AUD/USD | 1 Comment

USD/CAD: Trading within a tight range

Posted on March 4, 2011 by GCI Financial

For the 24 hours to 23:00 GMT, USD declined 0.04% against the CAD to close at 0.9724. In the US, the non-farm productivity growth came in unrevised at 2.6% in 4Q FY2010 in line with market expectations. In the Asian … Continue reading →

Posted in USD/CAD | Leave a comment

USD/CHF: Steady this morning; USD holding on to yesterday’s gains

Posted on March 4, 2011 by GCI Financial

For the 24 hours to 23:00 GMT, USD rose 0.93% against the CHF and closed at 0.9321. In Switzerland, retail sales fell by 2.6% (M-o-M) in January, compared to drop by 0.8% in December. In the Asian session, at 4:00GMT, … Continue reading →

Posted in USD/CHF | Leave a comment

USD/JPY: Trading marginally lower after witnessing gains yesterday

Posted on March 4, 2011 by GCI Financial

For the 24 hours to 23:00 GMT, USD strengthened 0.66% against the JPY and closed at 82.35. In the US, service sector activity increased to 59.7 in February, compared to 59.4 in January. In the Asian session at 4:00GMT, the … Continue reading →

Posted in USD/JPY | Leave a comment

GBP/USD: Trading flat; UK services PMI dampens tightening sentiment

Posted on March 4, 2011 by GCI Financial

For the 24 hours to 23:00 GMT, GBP fell 0.34% against the USD and closed at 1.6270, amid weak UK services sector data that dampened expectations for a near term rate hike by the BoE. In the UK, services PMI … Continue reading →

Posted in GBP/USD | Leave a comment

EUR/USD: Flat this morning, after the surge yesterday

Posted on March 4, 2011 by GCI Financial

For the 24 hours to 23:00 GMT, EUR rose 0.67% against the USD and closed at 1.3959 after the ECB president signaled that the ECB may raise interest rates in the next month to fight inflationary pressures. The ECB left … Continue reading →

Posted in EUR/USD | 2 Comments