Monthly Archives: May 2011

Focus on today’s Eurozone Finance Ministers Meeting

Posted on May 16, 2011 by GCI Financial

The dollar stayed firm during the Asia session, and continued its advance against the euro, the yen, the AUD, and the NZD. EURUSD traded 1.4048-1.4107, USDJPY 80.64-81.07. There was little in the way of news from the open, but the weekend arrest of IMF Managing Director Dominique Strauss-Kahn is not helping sentiment, given the possible implications for today’s meeting of Eurozone finance ministers. Continue reading →

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Crude Oil: Crude declines in Asian session

Posted on May 16, 2011 by GCI Financial

Oil prices advanced 0.60% against the USD, on Friday, for the 24 hour period ending 23:00GMT. At GMT 0300, Oil is trading at USD 98.78 per barrel in the Asian session, 0.57% lower from 23:00GMT, after the arrest of the … Continue reading →

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Silver: Silver trading lower this morning

Posted on May 16, 2011 by GCI Financial

Silver prices rose 0.69% to USD 35.16 per ounce, on Friday, during the 24 hours ending 23:00GMT. In the Asian session at 3:00GMT, silver is trading at USD 35.12 per ounce, 0.73% lower, from 23:00GMT. The first level of short … Continue reading →

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Gold: Rising dollar erodes demand for precious metals

Posted on May 16, 2011 by GCI Financial

Gold prices traded lower by 0.74% against the USD, on Friday, in the 24 hour period ending 23:00GMT, at 1,494.10 per ounce, amid profit taking. In the Asian session at 3:00GMT, gold is trading at USD 1,491.35 per ounce, 0.18% … Continue reading →

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AUD/USD: Aussie weaker on Greece debt worries

Posted on May 16, 2011 by GCI Financial

For the 24 hours to 23:00 GMT, AUD weakened 0.85% against the USD, on Friday, to close at 1.0570, as commodity prices declined. The Australian dollar remained under pressure as Greece’s sovereign debt problems continued to worry investors. In Australia, … Continue reading →

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USD/CAD: Loonie down as greenback strengthens on euro-zone worries, trading flat this morning

Posted on May 16, 2011 by GCI Financial

For the 24 hours to 23:00 GMT, USD rose 0.66% against the CAD, on Friday, to close at 0.9691, amid fresh worries over the European debt crisis. The greenback gained ground, after the European Union warned that the debt loads … Continue reading →

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USD/CHF: Swiss Franc trading marginally higher in Asian session

Posted on May 16, 2011 by GCI Financial

For the 24 hours to 23:00 GMT, USD rose 0.96% against the CHF, on Friday, and closed at 0.8929. In Switzerland, the producer and import prices rose by 0.3% in April, compared to 0.4% rise recorded in March. In the … Continue reading →

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USDJPY: Yen trading higher this morning

Posted on May 16, 2011 by GCI Financial

For the 24 hours to 23:00 GMT, USD weakened 0.28% against the JPY, on Friday, and closed at 80.79. In Japan, on Sunday, the core machinery orders unexpectedly rose by 2.9% in March compared to 1.9% drop in February. In … Continue reading →

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GBPUSD: Pair trading below its MA’s

Posted on May 16, 2011 by GCI Financial

For the 24 hours to 23:00 GMT, GBP fell 0.55% against the USD, on Friday, and closed at 1.6195. In the US, Reuters and the University of Michigan reported that the consumer sentiment index rose to a reading of 72.4 … Continue reading →

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EURUSD: Dollar gains, Euro extends declines

Posted on May 16, 2011 by GCI Financial

For the 24 hours to 23:00 GMT, EUR declined 0.93% against the USD, on Friday, and closed at 1.4110, on concern that European finance ministers may fail to resolve Greece’s debt restructuring. Additionally, the news of arrest of IMF chief, … Continue reading →

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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 →

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