Daily Archives: May 13, 2011

The Dollar continues to recover

Posted on May 13, 2011 by GCI Financial

The dollar consolidated its recent gains after the Bank of Korea disappointed consensus expectations, and chose not to hike. Most USD/Asia pairs pushed higher in response, which in turn had a negative impact on risk appetite more generally. Memories of yesterday’s 50bp RRR hike by China merely added to the sombre mood. EURUSD traded 1.4184-1.4277, USDJPY 80.45-81.09. Continue reading →

Posted in Market Snapshot | Leave a comment

Crude Oil: Trading flat this morning

Posted on May 13, 2011 by GCI Financial

Oil prices declined 0.19% against the USD for the 24 hour period ending 23:00GMT, closing at 98.76, as the International Energy Agency trimmed demand for oil. The International Energy Agency on Thursday cut its forecast for crude oil demand for … Continue reading →

Posted in Crude Oil | Leave a comment

Silver: Pair trading between its MA’s

Posted on May 13, 2011 by GCI Financial

Silver prices declined 1.22% to USD 34.92 per ounce during the 24 hours ending 23:00GMT. In the Asian session at 3:00GMT, silver is trading at USD 34.85 per ounce, 0.20% lower, from 23:00GMT. The first level of short term resistance … Continue reading →

Posted in Silver | Leave a comment

Gold: Trading lower this morning

Posted on May 13, 2011 by GCI Financial

Gold prices traded higher by 0.25% against the USD in the 24 hour period ending 23:00GMT, at 1,505.30 per ounce, as dollar weakened. In the Asian session at 3:00GMT, gold is trading at USD 1,503.50 per ounce, 0.12% lower from … Continue reading →

Posted in Gold | Leave a comment

AUD/USD: Australian dollar continues its downfall on weak jobs data

Posted on May 13, 2011 by GCI Financial

For the 24 hours to 23:00 GMT, AUD weakened 0.38% against the USD to close at 1.0661, as employment data in Australia came below market expectations. The economy lost 22,100 jobs in April, against expectations of a rise of 17,000, … Continue reading →

Posted in AUD/USD | Leave a comment

USD/CAD: Canadian dollar continues to trade lower in Asian session

Posted on May 13, 2011 by GCI Financial

For the 24 hours to 23:00 GMT, USD rose 0.25% against the CAD to close at 0.9627. The Federal Reserve Bank of Philadelphia President, Charles Plosser stated that the US economic recovery is nearing a point where the apex bank … Continue reading →

Posted in USD/CAD | Leave a comment

USD/CHF: Swiss Franc trading lower this morning

Posted on May 13, 2011 by GCI Financial

For the 24 hours to 23:00 GMT, USD declined 0.18% against the CHF and closed at 0.8844. In the US, the producer price index, on a monthly basis, increased by 0.8% in April, following a 0.7% gain recorded in March. … Continue reading →

Posted in USD/CHF | Leave a comment

USD/JPY: Pair showing convergence with its MA’s

Posted on May 13, 2011 by GCI Financial

For the 24 hours to 23:00 GMT, USD strengthened 0.02% against the JPY and closed at 81.02. In Japan, the current conditions index rose to a reading of 28.3 in April, following a reading of 27.7 recorded in the previous … Continue reading →

Posted in USD/JPY | Leave a comment

GBP/USD: Downbeat economic data in UK continue to dent Pound

Posted on May 13, 2011 by GCI Financial

GBPUSD Movement For the 24 hours to 23:00 GMT, GBP fell 0.49% against the USD and closed at 1.6285, after UK’s manufacturing and industrial data came in weaker-than-expected. The National Institute of Economic and Social Research (NIESR) indicated that the … Continue reading →

Posted in GBP/USD | Leave a comment

EUR/USD: Euro drifts lowers, amid lingering sovereign debt concerns

Posted on May 13, 2011 by GCI Financial

For the 24 hours to 23:00 GMT, EUR rose 0.23% against the USD and closed at 1.4242, as commodities strengthened, thus reducing the greenback’s appeal against riskier assets. The European Central Bank (ECB) in its May issue of the monthly … Continue reading →

Posted in EUR/USD | Leave a comment