Monthly Archives: May 2011

GBP/USD: Pound declined after BoE warns of risks to confidence and as unemployment rises, trading higher this morning

Posted on May 19, 2011 by GCI Financial

For the 24 hours to 23:00 GMT, GBP fell 0.54% against the USD and closed at 1.6162, as minutes from the Bank of England’s May 5 meeting showed the majority of policy makers warned against raising borrowing costs and after … Continue reading →

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EUR/USD: Euro rises range-bound, as Greece debt concerns loom

Posted on May 19, 2011 by GCI Financial

For the 24 hours to 23:00 GMT, EUR declined 0.10% against the USD and closed at 1.4256, after ECB officials ruled out a Greek debt restructuring. In the Euro Zone, construction output, on annual basis, fell by 4.9% in March … Continue reading →

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The Dollar weakened during the Asia session

Posted on May 18, 2011 by GCI Financial

The dollar weakened during the Asia session, despite the general absence of news. EU Council President Von Rompuy may have played a role in the dollar’s weakness however. He reminded markets that the greenback will likely lose its supreme reserve currency status in the distant future, noting that there will be a big change in the global FX landscape over the coming decades. EURUSD traded 1.4166-1.4287, USDJPY 80.98-81.59. Continue reading →

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Crude Oil: Trading flat after yesterdays surge

Posted on May 18, 2011 by GCI Financial

Oil prices advanced 0.98% against the USD for the 24 hour period ending 23:00GMT, closing at 97.88, over weakened US dollar which encouraged buying in dollar-priced commodities The American Petroleum Institute reported that the inventories of crude oil rose 2.7 … Continue reading →

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Silver: Silver prices continue to rise in Asian session

Posted on May 18, 2011 by GCI Financial

Silver prices rose 1.37% to USD 34.15 per ounce during the 24 hours ending 23:00GMT. In the Asian session at 3:00GMT, silver is trading at USD 34.23 per ounce, 0.23% higher, from 23:00GMT. The first level of short term resistance … Continue reading →

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Gold: Regaining some losses this morning

Posted on May 18, 2011 by GCI Financial

Gold prices traded lower by 0.14% against the USD in the 24 hour period ending 23:00GMT, at 1,487.28 per ounce, pressured by a stronger dollar and a general sell-off in commodities. In the Asian session at 3:00GMT, gold is trading … Continue reading →

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AUD/USD: Aussie up on drooping US economic data

Posted on May 18, 2011 by GCI Financial

For the 24 hours to 23:00 GMT, AUD strengthened 0.55% against the USD to close at 1.0628. Poor US economic data released overnight assisted the Australian dollar to move higher. In Australia, the Westpac consumer confidence fell 1.3% in May … Continue reading →

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USD/CAD: Loonie continues to spike in Asian session

Posted on May 18, 2011 by GCI Financial

For the 24 hours to 23:00 GMT, USD declined 0.32% against the CAD to close at 0.9718, over surge in crude oil prices. The foreign investment in Canadian securities rose to C$6.3 billion in March, compared to a foreign investment … Continue reading →

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USD/CHF: Pair trading below its MA’s

Posted on May 18, 2011 by GCI Financial

For the 24 hours to 23:00 GMT, USD declined 0.58% against the CHF and closed at 0.8792. In the US, the housing starts declined to 0.523 million in April from 0.585 million in March. Additionally, the industrial production remained unchanged … Continue reading →

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USD/JPY: Yen drops sharply; BoJ says economy in ‘Severe’ State

Posted on May 18, 2011 by GCI Financial

For the 24 hours to 23:00 GMT, USD strengthened 0.92% against the JPY and closed at 81.54, after the Bank of Japan Governor Masaaki Shirakawa stated that the economy is in a “very severe” state, fueling speculation of further easing … Continue reading →

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GBP/USD: British Pound continues to cement gains on inflation report

Posted on May 18, 2011 by GCI Financial

For the 24 hours to 23:00 GMT, GBP rose 0.28% against the USD and closed at 1.6249, as the headline reading for UK inflation topped market forecasts for April. The Bank of England (BoE) Governor, Mervyn King, in his letter … Continue reading →

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