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Daily Archives: July 26, 2011
US Debt Ceiling debate on focus
A pair of speeches by US President Obama and House Speaker Boehner showed that there has been no significant convergence of opinion between both camps in the debt ceiling debate. This jolted FX investors into concluding that the risk of a US downgrade and possible default was larger than first supposed, and the dollar sold off across the board. EURUSD traded 1.4358-1.4501 and USDJPY 77.90-78.70. Continue reading
Posted in Market Snapshot
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USD/CAD: Loonie rises over the US debt concerns
For the 24 hours to 23:00 GMT, USD declined 0.26% against the CAD to close at 0.9471, as US lawmakers failed to find consensus on raising the nation’s $14.3 trillion debt ceiling. In the Asian session at 3:00GMT, the pair … Continue reading
Posted in USD/CAD
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AUD/USD: AUD rallies as investors flee greenback
For the 24 hours to 23:00 GMT, AUD strengthened 0.08% against the USD to close at 1.0848, as investors sought alternatives to the greenback with the US lawmakers remaining at odds on how to raise the debt ceiling and avoid … Continue reading
Posted in AUD/USD
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Silver: Trading lower this morning
Silver prices declined 0.22% to USD 40.38 per ounce during the 24 hours ending 23:00GMT. In the Asian session at 3:00GMT, silver is trading at USD 40.34 per ounce, 0.10% lower, from 23:00GMT. The first level of short term resistance … Continue reading
Posted in Silver
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Crude Oil: Crude ends down on the US debt concerns, trading higher this morning
Oil prices declined marginally against the USD for the 24 hour period ending 23:00GMT, closing at 99.11, as the US lawmakers’ failure to reach an agreement on the country’s debt ceiling, raised concerns over the decline in energy demand. At … Continue reading
Posted in Crude Oil
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Gold: Gains in gold prices capped, US debt developments keenly watched
Gold prices traded lower by 0.30% against the USD in the 24 hour period ending 23:00GMT, at 1,613.75 per ounce. The losses were however capped as deadlock over raising the US debt limit pushed risk-averse investors to hold the safe-haven … Continue reading
Posted in Gold
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USD/JPY: Yen trading higher this morning, BOJ Shirakawa warns of yen rise pain on Japan economy
For the 24 hours to 23:00 GMT, USD traded flat against the JPY and closed at 78.30. Bank of Japan Governor, Masaaki Shirakawa stated yesterday that recent yen rises could hurt the country’s economic outlook by undermining exports and corporate … Continue reading
Posted in USD/JPY
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USD/CHF: Greenback drops to record low versus Franc on US debt stalemate
For the 24 hours to 23:00 GMT, USD declined 0.95% against the CHF and closed at 0.8054. The US dollar remained under pressure versus the Swiss franc, as the US President, Barack Obama warned that the nation’s burgeoning debt threatens … Continue reading
Posted in USD/CHF
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GBP/USD: Pound trading higher this morning ahead of UK GDP release
For the 24 hours to 23:00 GMT, GBP fell 0.20% against the USD and closed at 1.6278. In the UK, the number of home loans issued by the BBA increased in June to 31,747, in comparison with 30,803 in April. … Continue reading
Posted in GBP/USD
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EUR/USD: EUR fell on Moody’s downgrade of Greece, trading higher this morning
For the 24 hours to 23:00 GMT, EUR declined 0.10% against the USD and closed at 1.4372, after Moody’s Investors Service cut Greece’s credit rating. Moody’s Investors Service lowered Greece’s credit ratings from ‘Caa1’ to ‘Ca’, stating that the European … Continue reading
Posted in EUR/USD
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