Daily Archives: July 12, 2011

Euro Sell-Off continues

Posted on July 12, 2011 by GCI Financial

The euro continued to sell off during the Asia session as Monday’s meeting of Eurozone finance ministers failed to produce any concrete proposals to address the latest bout of market nervousness. EURUSD traded 1.3932-1.4062 and USDJPY 80.06-80.38. Continue reading →

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Crude Oil: Oil fell on debt concerns, weak China demand

Posted on July 12, 2011 by GCI Financial

Oil prices fell 0.94% against the USD for the 24 hour period ending 23:00GMT, closing at 94.99, amid concerns over weakening demand due to Europe’s mounting debt crisis, while signs of weakening crude-oil demand emerged from China. Data from China … Continue reading →

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Silver

Posted on July 12, 2011 by GCI Financial

Silver prices declined 2.53% to USD35.78 per ounce during the 24 hours ending 23:00GMT. In the Asian session at 3:00GMT, silver is trading at USD 35.75 per ounce, 0.06% lower, from 23:00GMT. The first level of short term resistance on … Continue reading →

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Gold: Trading steady this morning

Posted on July 12, 2011 by GCI Financial

Gold prices traded higher by 0.59% against the USD in the 24 hour period ending 23:00GMT, at 1552.38 per ounce, as continuing worries over Europe’s sovereign-debt crisis boosted the demand for the yellow metal. In the Asian session at 3:00GMT, … Continue reading →

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USD/CHF: Pair trading between its MA’s

Posted on July 12, 2011 by GCI Financial

For the 24 hours to 23:00 GMT, USD declined 0.10% against the CHF and closed at 0.8362. In the Asian session, at 3:00GMT, the pair is trading at 0.8368, 0.07% higher from yesterday’s close at 23:00 GMT. The pair has … Continue reading →

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AUD/USD: Trading lower after Australia business confidence declined

Posted on July 12, 2011 by GCI Financial

For the 24 hours to 23:00 GMT, AUD weakened 0.78% against the USD to close at 1.0636. Australian business confidence fell to 0, a six-month low in June, from +6 previously. In the Asian session at 3:00GMT, the pair is … Continue reading →

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USD/CAD: Loonie slides as euro debt worries push investors to safe haven greenback

Posted on July 12, 2011 by GCI Financial

For the 24 hours to 23:00 GMT, USD rose 0.60% against the CAD to close at 0.9689. Canadian dollar weakened against the greenback yesterday, as fresh euro zone debt problems hurt investor demand for commodity-linked currencies. In economic news, Mortgage … Continue reading →

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USD/JPY: Yen continues to trade higher in Asian session

Posted on July 12, 2011 by GCI Financial

For the 24 hours to 23:00 GMT, USD weakened 0.41% against the JPY and closed at 80.32. Data released in Japan showed that the consumer confidence index climbed to 35.3 in June, from 34.2 in May. Also, the Japan Machine … Continue reading →

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GBP/USD: Pound continues its downfall

Posted on July 12, 2011 by GCI Financial

For the 24 hours to 23:00 GMT, GBP fell 0.79% against the USD and closed at 1.5901. The British Chambers of Commerce (BCC) has warned that the UK economic recovery would remain fragile until the government places a greater emphasis … Continue reading →

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EUR/USD: Lower on heightened European Debt concerns

Posted on July 12, 2011 by GCI Financial

For the 24 hours to 23:00 GMT, EUR declined 1.21% against the USD and closed at 1.4036, amid fears that the Europe’s sovereign-debt crisis is deepening. EUR was pressured as soaring yields on Italian bonds raised concern that Italy would … Continue reading →

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