Daily Archives: July 1, 2011

Soft data out of Asia

Posted on July 1, 2011 by GCI Financial

Data out of Asia was broadly soft overnight, giving risk trades a mild knock though equities are faring well. Safety plays have started the European session relatively robust as growth fears remain in place. In addition to a soft Japanese Tankan, Chinese PMI also came in softer than expected at 50.9, the lowest since Q1 2009. Continue reading →

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Crude Oil: Continues to remain under pressure on demand concerns

Posted on July 1, 2011 by GCI Financial

Oil prices declined 0.33% against the USD for the 24 hour period ending 23:00GMT, closing at 94.89, as investors booked profits from recent price rises as a result of easing concerns over Greece’s debt crisis and a weaker dollar. At … Continue reading →

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Silver: Silver continues to traded lower

Posted on July 1, 2011 by GCI Financial

Silver prices declined 0.38% to USD 34.77 per ounce during the 24 hours ending 23:00GMT. In the Asian session at 3:00GMT, silver is trading at USD 34.58 per ounce, 0.56% lower, from 23:00GMT. The first level of short term resistance … Continue reading →

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Gold: Yellow metal takes a backseat

Posted on July 1, 2011 by GCI Financial

Gold prices traded lower by 0.62% against the USD in the 24 hour period ending 23:00GMT, at 1,502.22 per ounce, as Greece’s drive to stave off the euro area’s first sovereign default curbs demand for the metal as a protection … Continue reading →

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USD/CAD: Canadian Dollar pauses rally after April GDP report

Posted on July 1, 2011 by GCI Financial

For the 24 hours to 23:00 GMT, USD declined 0.35% against the CAD to close at 0.9643. Loonie surged against its major counterparts, boosted by rise in commodity prices and easing of Greece’s debt concerns. In the US, the St. … Continue reading →

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AUD/USD: Aussie trading lower this morning

Posted on July 1, 2011 by GCI Financial

For the 24 hours to 23:00 GMT, AUD strengthened 0.20% against the USD to close at 1.0712. In the US, the initial jobless claims fell to 428,000 for the week ended 25 June 2011, compared to the previous week’s unrevised … Continue reading →

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USD/CHF: Pair trading above its MA’s

Posted on July 1, 2011 by GCI Financial

For the 24 hours to 23:00 GMT, USD rose 1.02% against the CHF and closed at 0.8421. In the US, the Institute for Supply Management reported that its business barometer rose to a reading of 61.1 in June, compared to … Continue reading →

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USD/JPY: Japanese Yen rose on signs of economic recovery, trading flat this morning

Posted on July 1, 2011 by GCI Financial

For the 24 hours to 23:00 GMT, USD weakened 0.06% against the JPY and closed at 80.67. Japanese Yen rallied yesterday on signs of economic recovery in Japan, supported by better than expected housing starts data. In Japan, yesterday, the … Continue reading →

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GBP/USD: Pound trades flat this morning, after sliding yesterday

Posted on July 1, 2011 by GCI Financial

For the 24 hours to 23:00 GMT, GBP fell 0.21% against the USD and closed at 1.6038. In the Bank of England credit conditions report, the UK banks stated that demand for mortgages would probably fall in the third quarter … Continue reading →

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EUR/USD: Euro rallies as ECB President talks tough on inflation

Posted on July 1, 2011 by GCI Financial

For the 24 hours to 23:00 GMT, EUR rose 0.10% against the USD and closed at 1.4488, on investors’ speculations that the European Central Bank would raise interest rates next week to curb inflation and as Greece’s Parliament voted “yes” … Continue reading →

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