Daily Archives: May 6, 2011

RBA Turns Hawkish

Posted on May 6, 2011 by GCI Financial

Sentiment stabilised during the Asia session after yesterday’s heavy falls in the euro and the AUD. Silver continued to weaken, but at a far more moderate pace, and gold and oil both managed to claw back some losses. AUD was strongly boosted by renewed RBA hawkishness in the latest quarterly statement of monetary policy. Continue reading →

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EUR/USD: Trading flat this morning

Posted on May 6, 2011 by GCI Financial

For the 24 hours to 23:00 GMT, EUR declined 1.94% against the USD and closed at 1.4541, after Jean-Claude Trichet, President of the European Central Bank (ECB) stated that he wouldn’t hike interest rates for the Euro-zone. On Thursday, ECB … Continue reading →

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GBP/USD: Pair trading below its MA’s

Posted on May 6, 2011 by GCI Financial

For the 24 hours to 23:00 GMT, GBP fell 0.69% against the USD and closed at 1.6383, as dollar paced gains, amid fall in commodities, oil prices and US stock market. Additionally, the Purchasing Managers’ Index (PMI) for services in … Continue reading →

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USD/JPY: Surge in Yen raises intervention speculation, trading lower this morning

Posted on May 6, 2011 by GCI Financial

For the 24 hours to 23:00 GMT, USD weakened 0.39% against the JPY and closed at 80.32. The monetary base in Japan climbed 23.9% in April, following a 16.9% rise recorded in March. Separately, in an annual Asian Development Bank … Continue reading →

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USD/CHF: Swiss Franc remains under pressure

Posted on May 6, 2011 by GCI Financial

For the 24 hours to 23:00 GMT, USD rose 1.06% against the CHF and closed at 0.8702. In the US, initial jobless claims unexpectedly rose to 474,000, highest level since August of 2010, for the week ended 30 April 2011, … Continue reading →

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USD/CAD: Loonie trading higher this morning

Posted on May 6, 2011 by GCI Financial

For the 24 hours to 23:00 GMT, USD rose 0.88% against the CAD to close at 0.9665, as crude oil prices slumped below $100 per barrel on speculation of slower global economic growth. The Richard Ivey School of Business reported … Continue reading →

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AUD/USD: Aussie recovers after RBA statement

Posted on May 6, 2011 by GCI Financial

For the 24 hours to 23:00 GMT, AUD weakened 1.39% against the USD to close at 1.0603, amid fall in commodities and as Australian retail sales for March, unexpectedly declined. In Australia, the Bureau of Statistics reported that the nation’s … Continue reading →

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Gold: Yellow metal regains its shine in Asian session

Posted on May 6, 2011 by GCI Financial

Gold prices traded lower by 3.02% against the USD in the 24 hour period ending 23:00GMT, at 1472.18 per ounce, amid stronger dollar.. In the Asian session at 3:00GMT, gold is trading at USD1488.83 per ounce, 1.13% higher from 23:00GMT. … Continue reading →

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Silver: Silver Slumps on dollar rally, margin hikes and amid heavy sell-offs, trading higher in Asian session

Posted on May 6, 2011 by GCI Financial

Silver prices declined 11.72% to USD34.64 per ounce during the 24 hours ending 23:00GMT, after the CME Group, owner of Comex and Nymex, late Wednesday, announced fourth and fifth increase in margin requirements since 26 April 2011. In the Asian … Continue reading →

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Crude Oil: Oil limits its losses in Asian session

Posted on May 6, 2011 by GCI Financial

Oil prices declined 8.05% against the USD for the 24 hour period ending 23:00GMT, closing at 99.89, amid fears of lower-than-expected global economic growth and amid a stronger dollar. At GMT 0300, Oil is trading at USD100.58 per barrel in … Continue reading →

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