Daily Archives: May 23, 2011

Euro Downturn to continue

Posted on May 23, 2011 by GCI Financial

The euro continued to sell off during the Asia session amid signs that the Eurozone sovereign debt crisis is escalating again. Friday’s Eurozone headlines continued to haunt the euro overnight but, adding to the downside pressure, a weekend report in a Greek newspaper claimed that if the next quarterly instalment of EU/IMF funding is not released, Greece will run out of money by July 18. EURUSD traded 1.4065-1.4147 and USDJPY 81.59-82.02. Continue reading →

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Crude Oil: Oil drops this morning on demand concerns

Posted on May 23, 2011 by GCI Financial

Oil prices advanced 1.14% against the USD, on Friday, for the 24 hour period ending 23:00GMT, closing at 99.91, inching close to $100, as lower prices encouraged buyers back to the market. At GMT 0300, Oil is trading at USD … Continue reading →

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Silver: Silver shines in Asian session

Posted on May 23, 2011 by GCI Financial

Silver prices declined 0.34% to USD 35.02 per ounce, on Friday, during the 24 hours ending 23:00GMT. In the Asian session at 3:00GMT, silver is trading at USD 35.07 per ounce, 0.14% higher, from 23:00GMT. The first level of short … Continue reading →

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Gold: Yellow metal trading lower this morning

Posted on May 23, 2011 by GCI Financial

Gold prices traded higher by 1.05% against the USD, on Friday, in the 24 hour period ending 23:00GMT, at 1,511.20 per ounce, as debt fears in the Euro zone resurfaced ahead of Spanish elections and after Fitch downgraded Greece’s rating. … Continue reading →

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AUD/USD: Aussie trading lower this morning

Posted on May 23, 2011 by GCI Financial

For the 24 hours to 23:00 GMT, AUD weakened 0.08% against the USD, on Friday, to close at 1.0657, after concerns increased that Europe’s debt crisis would worsen. In the Asian session at 3:00GMT, the pair is trading at 1.0583, … Continue reading →

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USD/CAD: Loonie slides on weak retail sales, inflation

Posted on May 23, 2011 by GCI Financial

For the 24 hours to 23:00 GMT, USD rose 0.75% against the CAD, on Friday, to close at 0.9742, despite a rally in crude oil prices as disappointing economic data dragged the Loonie into negative territories. In Canada, the retail … Continue reading →

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USD/CHF: Swissy trading between is MA’s

Posted on May 23, 2011 by GCI Financial

For the 24 hours to 23:00 GMT, USD declined 0.37% against the CHF, on Friday, and closed at 0.8771. In the Asian session, at 3:00GMT, the pair is trading at 0.8788, 0.19% higher from the New York session close. The … Continue reading →

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USD/JPY: Greenback trading higher against Yen this morning, after the BOJ left rates unchanged

Posted on May 23, 2011 by GCI Financial

For the 24 hours to 23:00 GMT, USD traded flat against the JPY, on Friday, and closed at 81.71, as the Bank of Japan stated that the economy continues to face downward pressure as showed by the gross domestic product … Continue reading →

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GBP/USD: Pound trading lower this morning

Posted on May 23, 2011 by GCI Financial

For the 24 hours to 23:00 GMT, GBP traded flat against the USD, on Friday, and closed at 1.6232. Bank of England Chief Economist, Spencer Dale stated that monetary policy makers should boost interest rates to control inflation, even if … Continue reading →

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EUR/USD: Euro falls, after Fitch downgraded its credit ratings on Greece

Posted on May 23, 2011 by GCI Financial

For the 24 hours to 23:00 GMT, EUR declined 1.16% against the USD, on Friday, and closed at 1.4156, weighed down by rekindled worries about euro-zone sovereign debt after Greece’s credit rating was slashed. Fitch Ratings on Friday slashed Greece’s … Continue reading →

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