Daily Archives: March 7, 2011

The dollar manages to claw back some ground lost on Friday

Posted on March 7, 2011 by GCI Financial

FX market activity was relatively subdued during the Asia session as investors sought a new post-payrolls theme. Despite the thin trade, the dollar managed to claw back some ground lost on Friday. EURUSD traded 1.3962-1.3999, USDJPY 82.15-82.39. Continue reading →

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Crude Oil: Surges on Middle East unrest

Posted on March 7, 2011 by GCI Financial

Oil prices advanced 3.10% against the USD on Friday for the 24 hour period ending 23:00GMT, closing at 104.87. Oil futures surged as fighting in Libya continued to add to concerns that unrest could spread to other, nearby oil-producing states. … Continue reading →

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Silver: Continues to zoom higher, this morning

Posted on March 7, 2011 by GCI Financial

Silver prices rose 3.80% to USD 35.54 per ounce on Friday during the 24 hours ending 23:00GMT. In the Asian session at 4:00GMT, silver is trading at USD 36.20 per ounce, 1.86% higher, from 23:00GMT. The first level of short … Continue reading →

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Gold: Continues to shine

Posted on March 7, 2011 by GCI Financial

Gold prices traded higher by 0.96% against the USD on Friday in the 24 hour period ending 23:00GMT, at 1,429.08 per ounce as investors continued to prefer it amid growing worries over the turmoil in the Middle East and North … Continue reading →

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AUD/USD: AUD gives up Friday’s gains

Posted on March 7, 2011 by GCI Financial

For the 24 hours to 23:00 GMT, AUD strengthened 0.19% against the USD on Friday to close at 1.0149. In Australia, performance of construction index rose by 4.4 points to reach 44.6 in February 2011 from 40.2 in the previous … Continue reading →

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USD/CAD: Trading in a tight range

Posted on March 7, 2011 by GCI Financial

For the 24 hours to 23:00 GMT, USD declined 0.06% against the CAD on Friday to close at 0.9718. In Canada, Ivey PMI rose to 67.9 in February, following reading of 36.6 in the previous month. In the Asian session … Continue reading →

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USD/CHF: Trading flat, data on unemployment rate in Switzerland awaited

Posted on March 7, 2011 by GCI Financial

For the 24 hours to 23:00 GMT, USD declined 0.77% against the CHF on Friday and closed at 0.9249. In the US, nonfarm payroll employment rose by 192,000 jobs in February, less than market expectations, following an upwardly revised increase … Continue reading →

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USD/JPY: JPY trending marginally higher

Posted on March 7, 2011 by GCI Financial

For the 24 hours to 23:00 GMT, USD weakened 0.09% against the JPY on Friday and closed at 82.28. In Japan, today, the Ministry of Finance (MOF) reported that, foreign exchange reserves dropped to $1.091 trillion at the end of … Continue reading →

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GBP/USD: Drifting lower this morning after a flat close on Friday

Posted on March 7, 2011 by GCI Financial

For the 24 hours to 23:00 GMT, GBP rose 0.01% against the USD on Friday and closed at 1.6271. In the US, factory orders rose by 3.1% (M-o-M) in January from upwardly revised 1.4% the previous month, beating market expectations. … Continue reading →

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EUR/USD: Holding well above the 1.3950 levels

Posted on March 7, 2011 by GCI Financial

For the 24 hours to 23:00 GMT, EUR rose 0.20% against the USD on Friday and closed at 1.3987, as oil prices surged sharply, increasing investors worries that high energy prices will hinder growth. ECB President Trichet, stated that rise … Continue reading →

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