Monthly Archives: May 2011

GBP/USD: Pound trading marginally higher in Asian session, BoE lifts inflation outlook, signals rate hike this year

Posted on May 12, 2011 by GCI Financial

For the 24 hours to 23:00 GMT, GBP fell 0.04% against the USD and closed at 1.6365. In the UK, the Bank of England Governor, Mervyn King stated that inflation remains “uncomfortably high,” and officials indicated that they need to … Continue reading →

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USD/JPY: Japanese yen trading lower this morning

Posted on May 12, 2011 by GCI Financial

For the 24 hours to 23:00 GMT, USD traded flat against the JPY and closed at 81.00. In Japan, today morning, the Bank of Japan reported that M2 money supply increased 2.7% annually to Â¥796.8 trillion in April, following the … Continue reading →

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USD/CHF: Swiss Franc trading lower in Asian session

Posted on May 12, 2011 by GCI Financial

For the 24 hours to 23:00 GMT, USD rose 0.69% against the CHF and closed at 0.8860. In the US, the Federal Reserve Bank of Atlanta President, Dennis Lockhart indicated that the rise in jobs this year would reduce unemployment … Continue reading →

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USD/CAD: Slipping commodity prices continue to weigh on Loonie

Posted on May 12, 2011 by GCI Financial

For the 24 hours to 23:00 GMT, USD rose 0.39% against the CAD to close at 0.9603, amid fall in oil and other commodity prices. In Canada, the trade surplus increased to C$627.0 million in March, compared to a surplus … Continue reading →

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AUD/USD: Australian dollar slides on disappointing jobs data

Posted on May 12, 2011 by GCI Financial

For the 24 hours to 23:00 GMT, AUD weakened 1.40% against the USD to close at 1.0702, on tumbling commodity prices. In the Asian session at 3:00GMT, the pair is trading at 1.0623, 0.74% lower from the New York session … Continue reading →

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Gold: Yellow metal regains the shine in Asian session after declining yesterday

Posted on May 12, 2011 by GCI Financial

Gold prices traded lower by 1.06% against the USD in the 24 hour period ending 23:00GMT, at 1,501.50 per ounce, as greenback strengthened. In the Asian session at 3:00GMT, gold is trading at USD 1,505.53 per ounce, 0.27% higher from … Continue reading →

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Silver: Trading higher this morning

Posted on May 12, 2011 by GCI Financial

Silver prices declined 8.63% to USD 35.35 per ounce during the 24 hours ending 23:00GMT, as stronger dollar eroded the appeal of the precious metal as an alternative asset. In the Asian session at 3:00GMT, silver is trading at USD … Continue reading →

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Crude Oil: Crude declines on inventory jump, trading higher this morning

Posted on May 12, 2011 by GCI Financial

Oil prices declined 4.87% against the USD for the 24 hour period ending 23:00GMT, closing at 98.95, after an Energy Department report showed that US supplies surged and fuel demand slipped. The EIA reported that the US crude oil inventories … Continue reading →

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Mixed Chinese data for April

Posted on May 11, 2011 by GCI Financial

Rising commodity prices and stronger equity markets gave risk appetite a boost during the Asia session. The combined effect was powerful enough to keep AUDUSD largely supported, despite some rather mixed Chinese data for April. Higher oil prices in particular helped the euro to recover some ground recently lost to the dollar, although speculation that a new Greece rescue package may eventually be announced also helped embolden euro bulls. EURUSD traded 1.4350-1.4423, USDJPY 80.72-81.09. Continue reading →

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EUR/USD: Euro rose despite Greece woes, trading lower this morning

Posted on May 11, 2011 by GCI Financial

For the 24 hours to 23:00 GMT, EUR rose 0.31% against the USD and closed at 1.4413, following reports that Greece could get a new financial aid package. In the Asian session, at 3:00GMT, the EURUSD is trading at 1.4396, … Continue reading →

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GBP/USD: Pound trading flat this morning, investors awaits BoE inflation report

Posted on May 11, 2011 by GCI Financial

For the 24 hours to 23:00 GMT, GBP fell 0.25% against the USD and closed at 1.6371, on speculation that the Bank of England would lower its economic growth forecasts. The pair opened the Asian session at 1.6371, and is … Continue reading →

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