Daily Archives: March 10, 2011

The dollar makes significant gains during the Asia session

Posted on March 10, 2011 by GCI Financial

The dollar made significant gains during the Asia session after February trade data out of China disappointed consensus expectations. Although Lunar New Year celebrations are likely the cause of the unexpected deficit, investors were in no mood to take chances, and the US dollar strengthened against all its G10 peers. Earlier the NZD experienced some weakness of its own when the RBNZ cut the policy rate by 50bp (only a 25bp cut had been expected by consensus). Continue reading →

Posted in Market Snapshot | Leave a comment

Crude Oil: Rises on heightened violence in Libya

Posted on March 10, 2011 by GCI Financial

Oil prices declined 0.31% against the USD for the 24 hour period ending 23:00GMT, closing at 104.40, on investors’ concern over the unrest in the Middle East and North Africa. The US Energy Information Administration reported that the crude supplies … Continue reading →

Posted in Crude Oil | Leave a comment

Silver: Trading lower in Asian session

Posted on March 10, 2011 by GCI Financial

Silver prices rose 0.17% to USD 36.09 per ounce during the 24 hours ending 23:00GMT. In the Asian session at 4:00GMT, silver is trading at USD 35.97 per ounce, 0.33% lower, from 23:00GMT. The first level of short term resistance … Continue reading →

Posted in Silver | Leave a comment

Gold: Gold gives up yesterday’s gains this morning; Trades below 1430

Posted on March 10, 2011 by GCI Financial

Gold prices traded higher by 0.15% against the USD in the 24 hour period ending 23:00GMT, at 1,431.50 per ounce, as violence in North Africa and the Middle East stokes demand for the yellow metal, and as worries over euro … Continue reading →

Posted in Gold | Leave a comment

AUD/USD: Australian economy unexpectedly lost jobs in February

Posted on March 10, 2011 by GCI Financial

For the 24 hours to 23:00 GMT, AUD strengthened 0.07% against the USD to close at 1.0098. In Australia, seasonally-adjusted unemployment rate declined to 5.0% in February, from 5.1% in January. Additionally, in the US, wholesale inventories rose by 1.1% … Continue reading →

Posted in AUD/USD | Leave a comment

USD/CAD: Rises in Asian session

Posted on March 10, 2011 by GCI Financial

For the 24 hours to 23:00 GMT, USD declined 0.28% against the CAD to close at 0.9683. In Canada, the New Housing Price Index (NHPI) rose by 0.2% (M-o-M) in January following a 0.1% advance in December. In the US, … Continue reading →

Posted in USD/CAD | Leave a comment

USD/CHF: Swiss Franc advanced in New York session on strong CPI, trading lower in Asian session

Posted on March 10, 2011 by GCI Financial

For the 24 hours to 23:00 GMT, USD declined 0.60% against the CHF and closed at 0.9295. In Switzerland, CPI index rose to 0.4% (M-o-M) in February, greater than market expectations, from a decline of 0.4% in January. In the … Continue reading →

Posted in USD/CHF | Leave a comment

USD/JPY: Continues to trade higher in Asian session

Posted on March 10, 2011 by GCI Financial

For the 24 hours to 23:00 GMT, USD strengthened 0.10% against the JPY and closed at 82.74. In Japan, yesterday, GDP declined by 1.3% (Y-o-Y) in the fourth quarter of 2010. Additionally, domestic corporate goods prices in Japan rose by … Continue reading →

Posted in USD/JPY | Leave a comment

GBP/USD: Rose in the New York session, amid positive UK trade data: Trading lower this morning

Posted on March 10, 2011 by GCI Financial

For the 24 hours to 23:00 GMT, GBP rose 0.24% against the USD and closed at 1.6200. In the UK, goods trade deficit narrowed to £7.06 billion in January from £9.69 billion in December. The pair opened the Asian session … Continue reading →

Posted in GBP/USD | Leave a comment

EUR/USD: Trading lower in Asian session

Posted on March 10, 2011 by GCI Financial

For the 24 hours to 23:00 GMT, EUR rose 0.01% against the USD and closed at 1.3904. ECB Governing Council member, Axel Weber stated that it is up to governments and not monetary policy makers to carry out fiscal and … Continue reading →

Posted in EUR/USD | Leave a comment