Daily Archives: July 25, 2011

Moody’s cuts Greece’s sovereign rating

Posted on July 25, 2011 by GCI Financial

The euro initially weakened after Moody’s cut Greece’s sovereign rating by three notches to Ca, taking it one notch above the lowest possible rating. FX markets had earlier made a volatile start to the week in Asia after the latest round of negotiations on raising the US debt ceiling broke up acrimoniously and, crucially, without agreement over the weekend. EURUSD traded 1.4343-1.4417 and USDJPY 78.12-78.56. Continue reading →

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Crude Oil: Trading lower this morning

Posted on July 25, 2011 by GCI Financial

Oil prices advanced 0.39% against the USD, on Friday, for the 24 hour period ending 23:00GMT, closing at 99.77. At GMT 0300, Oil is trading at USD 98.82 per barrel in the Asian session, 0.95% lower from 23:00GMT. The pair … Continue reading →

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Silver: Zooms higher

Posted on July 25, 2011 by GCI Financial

Silver prices rose 1.45% to USD 40.01 per ounce, on Friday, during the 24 hours ending 23:00GMT. In the Asian session at 3:00GMT, silver is trading at USD 40.35 per ounce, 0.85% higher, from 23:00GMT. The first level of short … Continue reading →

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Gold: Yellow metal continues to gain, as failure to raise debt limit spurs default concern

Posted on July 25, 2011 by GCI Financial

Gold prices traded higher by 0.59% against the USD, on Friday, in the 24 hour period ending 23:00GMT, at 1,600.60 per ounce, as the political stand-off in the US over the country’s debt-ceiling fuelled fears among investors about a default. … Continue reading →

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USD/CHF: Swiss franc fell on Greek bailout hopes, trading higher this morning

Posted on July 25, 2011 by GCI Financial

For the 24 hours to 23:00 GMT, USD rose 0.33% against the CHF, on Friday, and closed at 0.8200. Swiss franc declined against its major counterparts as investors’ sold lower yielding franc, after the Euro zone leaders reached a consensus … Continue reading →

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AUD/USD: Aussie trading lower this morning

Posted on July 25, 2011 by GCI Financial

For the 24 hours to 23:00 GMT, AUD strengthened 0.15% against the USD, on Friday, to close at 1.0850. Australian dollar advanced as investors remained confident that the European debt crisis would be contained, boosting the demand for higher-yielding assets. … Continue reading →

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GBP/USD: Trading flat this morning

Posted on July 25, 2011 by GCI Financial

For the 24 hours to 23:00 GMT, GBP fell 0.10% against the USD, on Friday, and closed at 1.6301. In the UK, the house prices declined by 0.1% (M-o-M) in July, posting the third consecutive monthly decline. The pair opened … Continue reading →

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USD/CAD: Trading above its MA’s

Posted on July 25, 2011 by GCI Financial

For the 24 hours to 23:00 GMT, USD rose 0.38% against the CAD, on Friday, to close at 0.9478. In the economic news, the retail sales in Canada rose by 0.1% (M-o-M) in May to C$37.5 billion following a 0.3% … Continue reading →

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USD/JPY: Yen trading stronger this morning, stalled US debt talks in focus

Posted on July 25, 2011 by GCI Financial

For the 24 hours to 23:00 GMT, USD strengthened marginally against the JPY, on Friday, and closed at 78.55. In Japan, in the Friday’s economic news, the supermarket sales, on annual basis, rose by 0.1% to ¥1.059 trillion in June, … Continue reading →

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EUR/USD: Euro higher this morning, after Friday’s fall

Posted on July 25, 2011 by GCI Financial

For the 24 hours to 23:00 GMT, EUR declined 0.39% against the USD, on Friday, and closed at 1.4354, after Friday’s announcement of a rescue package for Greece. Euro came under pressure, over concerns that the measures announced to contain … Continue reading →

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