Monthly Archives: March 2011

GBP/USD: Trading flat; UK services PMI dampens tightening sentiment

Posted on March 4, 2011 by GCI Financial

For the 24 hours to 23:00 GMT, GBP fell 0.34% against the USD and closed at 1.6270, amid weak UK services sector data that dampened expectations for a near term rate hike by the BoE. In the UK, services PMI … Continue reading →

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EUR/USD: Flat this morning, after the surge yesterday

Posted on March 4, 2011 by GCI Financial

For the 24 hours to 23:00 GMT, EUR rose 0.67% against the USD and closed at 1.3959 after the ECB president signaled that the ECB may raise interest rates in the next month to fight inflationary pressures. The ECB left … Continue reading →

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ECB decision on tab

Posted on March 3, 2011 by GCI Financial

FX markets remained tightly range-bound for most of the Asia session, as investors direct their attention to the upcoming ECB press conference. Headlines suggesting that a peace plan for Libya is being discussed led to a spurt of risk-seeking, but it was shallow and brief. EURUSD traded 1.3847-1.3876, USDJPY 81.65-81.93. Continue reading →

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Crude Oil: Continues rising trend

Posted on March 3, 2011 by GCI Financial

Oil prices advanced 2.05% against the USD for the 24 hour period ending 23:00GMT, closing at 102.34. Crude futures closed above $102 a barrel Wednesday, after an unexpected decline in last week’s US oil inventories and continuing political turmoil in … Continue reading →

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Silver: Up after yesterday’s flat close

Posted on March 3, 2011 by GCI Financial

Silver prices traded flat, at USD 34.61 per ounce during the 24 hours ending 23:00GMT. In the Asian session at 4:00GMT, silver is trading at USD 34.69 per ounce, 0.23% higher, from 23:00GMT. The first level of short term resistance … Continue reading →

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Gold: Holding above 1430

Posted on March 3, 2011 by GCI Financial

Gold prices traded higher by 0.20% against the USD in the 24 hour period ending 23:00GMT, at 1,434.60 per ounce. In the Asian session at 4:00GMT, gold is trading at USD 1,433.43 per ounce, 0.08% lower from 23:00GMT. The pair … Continue reading →

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AUD/USD: Trading steady amid mixed data

Posted on March 3, 2011 by GCI Financial

For the 24 hours to 23:00 GMT, AUD strengthened 0.38% against the USD to close at 1.0161. In Australia, the AiG Performance of Services Index rose by 3.2 points to reach 48.7 points in February 2011, from 45.5 in January. … Continue reading →

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USD/CAD: Witnessing low volatility

Posted on March 3, 2011 by GCI Financial

For the 24 hours to 23:00 GMT, USD declined 0.08% against the CAD to close at 0.9728. In Canada, industrial product prices rose by 0.2% (M-o-M) in January, compared to 0.7% growth in December. In the Asian session at 4:00GMT, … Continue reading →

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USD/CHF: Steady this morning, Await retail sales in Switzerland later today

Posted on March 3, 2011 by GCI Financial

For the 24 hours to 23:00 GMT, USD declined 0.44% against the CHF and closed at 0.9235. The Federal Reserve, in its Beige Book, reported continued expansion of economic activity in the US, in January and early February. It also … Continue reading →

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USD/JPY: Trading flat; Capital spending rise in Japan lower than expected

Posted on March 3, 2011 by GCI Financial

For the 24 hours to 23:00 GMT, USD weakened 0.06% against the JPY and closed at 81.81. In a speech this morning, Bank of Japan board member, Tadao Noda, said that BoJ is ready to take “appropriate” policy action in … Continue reading →

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GBP/USD: GBP holds on to yesterday’s gains

Posted on March 3, 2011 by GCI Financial

For the 24 hours to 23:00 GMT, GBP rose 0.41% against the USD and closed at 1.6326. In the UK, construction PMI rose to 56.5 in February compared to 53.7 in January. In the US, private sector employment increased by … Continue reading →

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