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- Crude Oil: Oil trading higher ahead of Baker Hughes weekly rig count data
- Silver; White metal trading on a weaker footing this morning
- Gold: Yellow metal reverses it gains in the Asian session
- AUD/USD: Australia’s retail sales climbed in July
- USD/CAD: Loonie trading on a stronger footing this morning
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Monthly Archives: May 2011
The Euro gets a strong boost
The euro got a strong boost from a Wall Street Journal article which claimed that Germany might be willing to participate in another round of funding for Greece, even if a voluntary ‘soft’ restructuring of Greek debt does not first take place. No sources were cited, however the currency reaction was logical given that, if this is what ultimately happens, the market will not have to cope with the potential trauma of a restructuring event – at least not in the near term. EURUSD traded 1.4272-1.4406, USDJPY 80.72-81.38. Continue reading
Posted in Market Snapshot
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Crude Oil: Trading higher this morning
Oil prices declined 0.27% against the USD for the 24 hour period ending 23:00GMT, closing at 100.29, on speculation that fuel demand would falter amid a slowdown in the US economic recovery and Europe’s continuing debt crisis. Investors await the … Continue reading
Posted in Crude Oil
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Silver: Silver backpedals in Asian session
Silver prices rose 0.24% to USD 38.25 per ounce during the 24 hours ending 23:00GMT. In the Asian session at 3:00GMT, silver is trading at USD 38.16 per ounce, 0.24% lower, from yesterday 23:00GMT. The first level of short term … Continue reading
Posted in Silver
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Gold: Yellow metal buoyed by Greece debt fear, trading lower this morning
Gold prices traded higher by 0.11% against the USD in the 24 hour period ending 23:00GMT, at 1,538.20 per ounce, as concerns about the Greece debt crisis heightened appeal for safe-haven assets. In the Asian session at 3:00GMT, gold is … Continue reading
Posted in Gold
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AUD/USD: Aussie shrugs off slew of downbeat economic reports, trading higher this morning
For the 24 hours to 23:00 GMT, AUD strengthened marginally against the USD to close at 1.0707. In Australia, the current account deficit decreased to A$10.4 billion in the first quarter of 2011 from a deficit of A$8.1 billion in … Continue reading
Posted in AUD/USD
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USD/CAD: Canadian dollar trading higher this morning, BoC interest rate decision awaited
For the 24 hours to 23:00 GMT, USD declined 0.04% against the CAD to close at 0.9766, ahead of Canadian interest rate decision. In Canada, the current account deficit improved to C$8.92 billion in the first quarter of 2011 from … Continue reading
Posted in USD/CAD
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USD/CHF: Swiss Franc at record highs
For the 24 hours to 23:00 GMT, USD declined 0.13% against the CHF and closed at 0.8494, as expectations for slower US growth and concerns over a possible restructuring of Greek sovereign debt supported demand for Swiss Franc. In the … Continue reading
Posted in USD/CHF
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USD/JPY: Yen slips, as Moody’s puts Japan on review for possible downgrade
For the 24 hours to 23:00 GMT, USD traded flat against the JPY and closed at 80.86. In Japan, this morning, the industrial production rose by 1% (M-o-M) in April, following a 15.5% decline in March. The unemployment rate, on … Continue reading
Posted in USD/JPY
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GBP/USD: British Pound trading higher in Asian session
For the 24 hours to 23:00 GMT, GBP traded flat against the USD and closed at 1.6493. A leading British business group, The British Chambers of Commerce (BCC), on Monday cut its growth forecasts for the country’s economic growth over … Continue reading
Posted in GBP/USD
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EUR/USD: Euro rises on speculation Germany to support new Greek aid
For the 24 hours to 23:00 GMT, EUR rose 0.36% against the USD and closed at 1.4339, on speculation that the European officials would approve additional assistance for Greece, thus increasing demand for the region’s assets. The Euro-zone finance ministers’ … Continue reading
Posted in EUR/USD
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Dollar has a mixed session
The dollar had a mixed session. It managed to claw back some of Friday’s losses against the euro, assisted by euro-negative press commentary. Nevertheless, it was not all one-way dollar buying – NZDUSD set a post-floatation 26-year high after better than expected New Zealand trade data. EURUSD traded 1.4262-1.4334, USDJPY 80.72-81.02. Continue reading
Posted in Market Snapshot
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