Monthly Archives: March 2011

USD/JPY: Showing convergence with its MA’s

Posted on March 11, 2011 by GCI Financial

For the 24 hours to 23:00 GMT, USD strengthened 0.29% against the JPY and closed at 82.98. In Japan, yesterday, machine tool orders surged by 73.7% (Y-o-Y) to reach Â¥112.57 billion in February compared to an increase of 89.8% in … Continue reading →

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USD/CHF: Swiss Franc trading higher in Asian session

Posted on March 11, 2011 by GCI Financial

For the 24 hours to 23:00 GMT, USD rose 0.28% against the CHF and closed at 0.9321. In the US, trade deficit increased to $46.3 billion in January, compared to a deficit of $40.3 billion posted in December. Additionally, monthly … Continue reading →

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USD/CAD: CAD trading marginally higher this morning

Posted on March 11, 2011 by GCI Financial

For the 24 hours to 23:00 GMT, USD rose 0.70% against the CAD to close at 0.9751. In Canada, trade surplus fell to C$116.0 million in January, compared to a revised C$1.7 billion surplus in December. In the Asian session … Continue reading →

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AUD/USD: Continues its downtrend this morning

Posted on March 11, 2011 by GCI Financial

For the 24 hours to 23:00 GMT, AUD weakened 0.89% against the USD to close at 1.0008. In the Asian session at 4:00GMT, the pair is trading at 1.0032, 0.24% lower from the New York session close. LME Copper prices … Continue reading →

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Gold: Gold slides as dollar, Chinese data prompt profit-taking; trading higher in Asian session

Posted on March 11, 2011 by GCI Financial

Gold prices traded lower by 1.44% against the USD in the 24 hour period ending 23:00GMT, at 1,410.89 per ounce. In the Asian session at 4:00GMT, gold is trading at USD 1,415.13 per ounce, 0.30% higher from 23:00GMT. The pair … Continue reading →

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Silver: Trading higher in Asian session

Posted on March 11, 2011 by GCI Financial

Silver prices declined 2.38 % to USD 35.23 per ounce during the 24 hours ending 23:00GMT. In the Asian session at 4:00GMT, silver is trading at USD 35.34 per ounce, 0.31% higher, from 23:00GMT. The first level of short term … Continue reading →

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Crude oil: After a sharp decline yesterday, trading flat in Asian session

Posted on March 11, 2011 by GCI Financial

Oil prices declined 1.71% against the USD for the 24 hour period ending 23:00GMT, closing at 102.61, amid fall in the US stocks, strengthening dollar and trade deficit in China, raising concerns of a downfall in the energy demand. At … Continue reading →

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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 →

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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 →

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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 →

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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 →

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