Monthly Archives: March 2011

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 →

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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 →

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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 →

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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 →

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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 →

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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 →

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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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