Daily Archives: March 9, 2011

The dollar continues to strengthen gradually

Posted on March 9, 2011 by GCI Financial

The dollar continued to strengthen gradually during the Asia session. The absence of news, combined with the prevalence of short dollar positions, suggests that an unwind of overstretched positions was likely at work over the past 24 hours. EURUSD traded between 1.3873 and 1.3924 and USDJPY between 82.61 and 82.94. Continue reading →

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Crude Oil: Declines as OPEC discusses increasing output

Posted on March 9, 2011 by GCI Financial

Oil prices declined 0.03% against the USD for the 24 hour period ending 23:00GMT, closing at 104.72, after Kuwait’s oil minister stated that OPEC is considering increase in production to help replace war-torn member Libya’s lost supplies. The American Petroleum … Continue reading →

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Silver: Silver succumbs to profit-booking in Asian session

Posted on March 9, 2011 by GCI Financial

Silver prices rose 0.45% to USD 36.03 per ounce during the 24 hours ending 23:00GMT. In the Asian session at 4:00GMT, silver is trading at USD 35.94 per ounce, 0.25% lower, from 23:00GMT. The first level of short term resistance … Continue reading →

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Gold: Yellow metal loses the shine, as safe-haven demand wanes

Posted on March 9, 2011 by GCI Financial

Gold prices traded lower by 0.13% against the USD in the 24 hour period ending 23:00GMT, at 1,429.37 per ounce, on rumors that Libyan leader, Muammar Qadaffi, is attempting to negotiate for his safe exit from the country after he … Continue reading →

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AUD/USD: Aussie pressurized on the back of poor economic data

Posted on March 9, 2011 by GCI Financial

For the 24 hours to 23:00 GMT, AUD weakened 0.27% against the USD to close at 1.0091. In Australia, yesterday, consumer confidence fell by 2.4% (M-o-M) in March 2011 to reach 104.1 following a 1.9% rise in February; home loans … Continue reading →

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USD/CAD: Trading flat this morning

Posted on March 9, 2011 by GCI Financial

For the 24 hours to 23:00 GMT, USD declined 0.15% against the CAD to close at 0.9710. In the US, IBD/TIPP Economic Optimism Index fell to 43 in March from a rise to 50.9 in February. In Canada, seasonally adjusted … Continue reading →

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USD/CHF: Swissy trading above its MA’s

Posted on March 9, 2011 by GCI Financial

For the 24 hours to 23:00 GMT, USD rose 0.95% against the CHF and closed at 0.9351. In Switzerland, unadjusted jobless rate dropped to 3.6% in February below market expectations at 3.7%, compared with the 3.8% in January. Meanwhile, seasonally … Continue reading →

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USD/JPY: Investors awaits GDP data in Japan

Posted on March 9, 2011 by GCI Financial

For the 24 hours to 23:00 GMT, USD strengthened 0.51% against the JPY and closed at 82.66. In Japan, today, BoJ Governor Masaaki Shirakawa stated that central banks shouldn’t too much focus on near-term inflation developments as it could damage … Continue reading →

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GBP/USD: Greenback edges higher as crude prices pull back

Posted on March 9, 2011 by GCI Financial

For the 24 hours to 23:00 GMT, GBP fell 0.24% against the USD and closed at 1.6162. In the UK, BRC Shop Price Index rose to 2.7% (M-o-M) in February compared to 2.5% in January. The pair opened the Asian … Continue reading →

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EUR/USD: EUR extended its losses in Asian session

Posted on March 9, 2011 by GCI Financial

For the 24 hours to 23:00 GMT, EUR declined 0.49% against the USD and closed at 1.3903. In Germany, factory orders seasonally adjusted rose 2.9% (M-o-M) in January from the 3.4% drop reported in December. Additionally, trade deficit in France … Continue reading →

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