Daily Archives: July 6, 2011

Euro recovers some lost ground

Posted on July 6, 2011 by GCI Financial

The euro managed to stage a minor recovery overnight as markets digested the Moody’s downgrade of Portugal, which jolted an otherwise sleepy US session. The four-notch move, with hints of more to go, served as a reminder that even though Greece has passed its near-term tests, problems within other economies persist, not to mention contagion risk. As the ECB meets and growth momentum starts to wobble, the sustainability of current plans will be further scrutinised. Continue reading →

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Gold: Trading flat, after yesterday’s rise

Posted on July 6, 2011 by GCI Financial

Gold prices traded higher by 1.22% against the USD in the 24 hour period ending 23:00GMT, at 1,513.55 per ounce, stoked by concerns over the outlook for the Chinese economy and amid renewed worries over the euro zone debt crisis. … Continue reading →

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Silver: Trading above its MA’s

Posted on July 6, 2011 by GCI Financial

Silver prices rose 3.80% to USD 35.43 per ounce during the 24 hours ending 23:00GMT. In the Asian session at 3:00GMT, silver is trading at USD 35.38 per ounce, 0.16% lower, from 23:00GMT. The first level of short term resistance … Continue reading →

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Crude Oil: Continues to zoom ahead

Posted on July 6, 2011 by GCI Financial

Oil prices advanced 2.08% against the USD for the 24 hour period ending 23:00GMT, closing at 97.04, after the report indicated that new orders for US manufactured goods rose in May. Prices were further bolstered after Barclays Capital raised its … Continue reading →

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USD/CAD: Loonie trading higher this morning

Posted on July 6, 2011 by GCI Financial

For the 24 hours to 23:00 GMT, USD rose 0.38% against the CAD to close at 0.9632. The Canadian dollar slipped for a second session against the greenback, yesterday, after a major ratings agency downgraded Portugal and as poor European … Continue reading →

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AUD/USD: Aussie declined yesterday, after RBA holds rate steady, trading higher this morning

Posted on July 6, 2011 by GCI Financial

For the 24 hours to 23:00 GMT, AUD weakened 0.45% against the USD to close at 1.0691, after the Reserve Bank of Australia (RBA) left its key interest rates unchanged and stated that growth for this year is unlikely to … Continue reading →

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GBP/USD: Pound trading marginally higher

Posted on July 6, 2011 by GCI Financial

For the 24 hours to 23:00 GMT, GBP fell 0.09% against the USD and closed at 1.6067. Pound came under pressure, yesterday, after Barclays Capital revised down its forecast for the British pound, citing disappointing economic data. In the UK, … Continue reading →

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USD/CHF: Swiss Franc continues to cement gains

Posted on July 6, 2011 by GCI Financial

For the 24 hours to 23:00 GMT, USD declined 0.84% against the CHF and closed at 0.8404, on investors speculation that China would increase its interest rates, and increased appeal for safe-haven assets. In the Asian session, at 3:00GMT, the … Continue reading →

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USD/JPY: Pair trading below its MA’s

Posted on July 6, 2011 by GCI Financial

For the 24 hours to 23:00 GMT, USD strengthened 0.38% against the JPY and closed at 81.07. In the Asian session at 3:00GMT, the pair is trading lower from yesterday’s close at 23:00 GMT, by 0.30%, at 80.83. The first … Continue reading →

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EUR/USD: Euro rally fizzles amid lacklustre economic data, trading higher this morning

Posted on July 6, 2011 by GCI Financial

For the 24 hours to 23:00 GMT, EUR declined 0.80% against the USD and closed at 1.4430, amid disappointing euro zone economic data and lingering sovereign debt concerns. Moody’s Investors Service, yesterday, downgraded Portugal’s credit rating to Ba2, or junk … Continue reading →

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