Daily Archives: July 19, 2011

Gold traded up to a new record high and RBA signalizes a Shift

Posted on July 19, 2011 by GCI Financial

The market remains in a state of suspended animation given the relative lack of news, the dearth of economic data releases, and the uncertainty around what may emerge from Thursday’s EU summit. Nevertheless there is a palpable sense of foreboding as Spanish and Italian yields continue to climb. The euro staged a modest recovery during the US session, but this is unlikely to last. After all, the upswing only got underway when European sovereign bond markets closed for the evening, which put a temporary stop to the flow of euro negative headlines on the plight of Eurozone sovereign bond markets. In Asia, the minutes of the RBA’s July 5 policy meeting show that the bank has shifted decisively to a neutral policy stance. EURUSD traded in a range of 1.4084-1.4136 and USDJPY 78.97-79.15. Continue reading →

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Silver: Cooling off this morning after yesterday’s surge

Posted on July 19, 2011 by GCI Financial

Silver prices rose 2.19% to USD 40.54 per ounce during the 24 hours ending 23:00GMT. In the Asian session at 3:00GMT, silver is trading at USD 40.25 per ounce, 0.71% lower, from 23:00GMT. The first level of short term resistance … Continue reading →

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Crude Oil: Trading higher ahead of crude oil inventory reports

Posted on July 19, 2011 by GCI Financial

Oil prices declined 1.58% against the USD for the 24 hour period ending 23:00GMT, closing at 96.03, as the greenback strengthened. Further, crude oil fell amid concerns that fuel demand may curb, following continuing concerns over debt crises in Europe … Continue reading →

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Gold: Gold breaks $1600/Oz on debt concerns

Posted on July 19, 2011 by GCI Financial

Gold prices traded higher by 0.48% against the USD in the 24 hour period ending 23:00GMT, at 1,604.22 per ounce, as debt concerns in the Euro zone and the US boosted demand for safe-haven assets. In the Asian session at … Continue reading →

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AUD/USD: Aussie down on RBA minutes, trading flat this morning

Posted on July 19, 2011 by GCI Financial

For the 24 hours to 23:00 GMT, AUD weakened 0.33% against the USD to close at 1.0619. Minutes from the most recent Reserve Bank of Australia (RBA) board meeting reveal a greater concern with the global economy and less emphasis … Continue reading →

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USD/CAD: Loonie down on debt concerns, trading flat this morning; BoC interest rate decision in focus

Posted on July 19, 2011 by GCI Financial

For the 24 hours to 23:00 GMT, USD rose 0.54% against the CAD to close at 0.9594, as concerns of sovereign debt default in Europe and the United States weighed on investor sentiment. In economic news, the foreign investment in … Continue reading →

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GBP/USD: Pair trading between its MA’s

Posted on July 19, 2011 by GCI Financial

For the 24 hours to 23:00 GMT, GBP fell 0.29% against the USD and closed at 1.6067, on poor UK house prices data. The pair opened the Asian session at 1.6067, and is trading at 1.6077 at 3.00GMT. The pair … Continue reading →

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USD/CHF: Morning dollar weakness supporting the Swiss franc

Posted on July 19, 2011 by GCI Financial

For the 24 hours to 23:00 GMT, USD rose 0.88% against the CHF and closed at 0.8173. In the US, the housing market index rose to a reading of 15.0 in July, following a reading of 13.0 posted in June. … Continue reading →

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USD/JPY: Japanese Yen trading marginally higher this morning

Posted on July 19, 2011 by GCI Financial

For the 24 hours to 23:00 GMT, USD marginally weakened against the JPY and closed at 79.06. In the US, the net long-term assets bought by foreign investors fell to $23.6 billion in May, compared to a net purchase of … Continue reading →

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EUR/USD: EUR falls on lingering euro zone debt concerns ‎

Posted on July 19, 2011 by GCI Financial

For the 24 hours to 23:00 GMT, EUR traded flat against the USD and closed at 1.4124. Euro was pressurized after a poorly received round of European-bank stress tests and sovereign-debt worries in the US and Euro zone. In the … Continue reading →

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