Daily Archives: July 8, 2011

Payrolls numbers due

Posted on July 8, 2011 by GCI Financial

Attention shifts to payrolls today as the market seeks to end the week consolidating the gains made in risk. A robust ADP payrolls report has boosted hopes of a good number today (UBSe +135k, cons. 100k) and sentiment is invariably better on the economy compared to just over a weak ago, when soft regional PMI prints out of the US prompted fears that the soft patch was entrenching. Consensus expectations for the headline payrolls number has risen by around 20k since, though even with a good print the Fed will remain underwhelmed. In other news, yesterday the euro caught a bid after the ECB unexpectedly tweaked its collateral rules to favour Portuguese sovereign bonds. Continue reading →

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Silver: Retreats in the Asian session

Posted on July 8, 2011 by GCI Financial

Silver prices rose 1.38% to USD 36.46 per ounce during the 24 hours ending 23:00GMT. In the Asian session at 3:00GMT, silver is trading at USD 36.42 per ounce, 0.09% lower, from 23:00GMT. The first level of short term resistance … Continue reading →

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Crude Oil: Oil rose, amid upbeat US economic data and drop in crude stockpile, trading lower this morning

Posted on July 8, 2011 by GCI Financial

Oil prices advanced 1.67% against the USD for the 24 hour period ending 23:00GMT, closing at 98.90, buoyed by better-than-expected US jobs report data and drop in US crude supplies. The US Energy Information Administration indicated that US crude oil … Continue reading →

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Gold: Trading flat this morning

Posted on July 8, 2011 by GCI Financial

Gold prices traded higher by 0.15% against the USD in the 24 hour period ending 23:00GMT, at 1,530.82 per ounce. In the Asian session at 3:00GMT, gold is trading at USD 1,531.05 per ounce, flat from 23:00GMT. The pair is … Continue reading →

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AUD/USD: Australian Dollar rose on robust jobs data, trading flat this morning

Posted on July 8, 2011 by GCI Financial

For the 24 hours to 23:00 GMT, AUD strengthened 0.71% against the USD to close at 1.0770, amid strong Australian jobs data. The unemployment rate remained steady at 4.9% in June, while 23,400 jobs were added in June. In the … Continue reading →

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USD/CAD: Loonie trading below its MA’s

Posted on July 8, 2011 by GCI Financial

For the 24 hours to 23:00 GMT, USD rose 0.65% against the CAD to close at 0.9584. In the US, the ADP national employment report showed that the private sector employment increased by 157,000 jobs in June following a downwardly … Continue reading →

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USD/CHF: Swiss Franc trading flat this morning, Swiss inflation ticks up

Posted on July 8, 2011 by GCI Financial

For the 24 hours to 23:00 GMT, USD rose 0.63% against the CHF and closed at 0.8448. In Switzerland, the consumer price inflation, on annual basis, rose to 0.6% in June compared to a rate of 0.4% recorded in the … Continue reading →

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USD/JPY: Japanese Yen trading flat this morning

Posted on July 8, 2011 by GCI Financial

For the 24 hours to 23:00 GMT, USD strengthened 0.36% against the JPY and closed at 81.24. In the Japan economic news this morning, the current account surplus, on annual basis, stood at ¥590.7 billion in May from ¥405.6 billion … Continue reading →

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GBP/USD: Pound stays lower after BoE hold rates steady

Posted on July 8, 2011 by GCI Financial

For the 24 hours to 23:00 GMT, GBP fell 0.22% against the USD and closed at 1.5977. The Bank of England held its key rate unchanged at 0.5% and maintained bond purchase program at £200 billion. In the UK, the … Continue reading →

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EUR/USD: Euro rose as ECB lends support to Portuguese banks, trading lower this morning

Posted on July 8, 2011 by GCI Financial

For the 24 hours to 23:00 GMT, EUR rose 0.20% against the USD and closed at 1.4360, as investors concerns quelled after the European Central Bank President Jean-Claude Trichet extended more support to the region’s sovereign-debt problems. The European Central … Continue reading →

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