Monthly Archives: July 2011

AUD/USD: Aussie rose as US debt plan takes shape, trading lower this morning

Posted on July 20, 2011 by GCI Financial

For the 24 hours to 23:00 GMT, AUD strengthened 1.14% against the USD to close at 1.0740, after a bi-partisan plan to avoid a US debt default emerged in the US overnight. According to media reports, a bipartisan group of … Continue reading →

Posted in AUD/USD | Leave a comment

Gold: Yellow metal took breather on the US debt ceiling progress, trading higher this morning

Posted on July 20, 2011 by GCI Financial

Gold prices traded lower by 0.90% against the USD in the 24 hour period ending 23:00GMT, at 1,589.80 per ounce, as easing concerns over the US economic recovery and European debt crisis decreased appeal for safe-haven assets. In the Asian … Continue reading →

Posted in Gold | Leave a comment

USD/CHF: Greenback hold gains versus Swiss Franc as Obama endorses deficit-cutting plan

Posted on July 20, 2011 by GCI Financial

For the 24 hours to 23:00 GMT, USD rose 0.83% against the CHF and closed at 0.8241, after the US President, Barack Obama endorsed deficit-cutting measures as a step toward raising the debt ceiling and avoiding default. In the US, … Continue reading →

Posted in USD/CHF | Leave a comment

USD/CAD: Loonie gained on BoC interest rate decision‎

Posted on July 20, 2011 by GCI Financial

For the 24 hours to 23:00 GMT, USD declined 0.97% against the CAD to close at 0.9501. Canadian dollar gained, after the Bank of Canada (BoC) signaled an interest-rate hike within the next few months. BoC kept its main interest … Continue reading →

Posted in USD/CAD | Leave a comment

GBP/USD: Trading lower ahead of BoE Minutes

Posted on July 20, 2011 by GCI Financial

For the 24 hours to 23:00 GMT, GBP rose 0.42% against the USD and closed at 1.6134. The pair opened the Asian session at 1.6134, and is trading at 1.6126 at 3.00GMT. The pair is trading 0.05% lower from yesterday’s … Continue reading →

Posted in GBP/USD | Leave a comment

USD/JPY: Greenback continues to trade higher this morning

Posted on July 20, 2011 by GCI Financial

For the 24 hours to 23:00 GMT, USD strengthened 0.08% against the JPY and closed at 79.13. Bank of Japan Deputy Governor, Hirohide Yamaguchi has stated that he is focusing on the negative impact a stronger yen could have on … Continue reading →

Posted in USD/JPY | Leave a comment

EUR/USD: Euro rose ahead of crucial debt summit, trading lower in Asian session

Posted on July 20, 2011 by GCI Financial

For the 24 hours to 23:00 GMT, EUR rose 0.35% against the USD and closed at 1.4174, on hopes that European officials would make progress to provide further aid for Greece at a summit later this week. In the economic … Continue reading →

Posted in EUR/USD | Leave a comment

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 →

Posted in Market Snapshot | Leave a comment

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 →

Posted in Silver | Leave a comment

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 →

Posted in Crude Oil | Leave a comment

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 →

Posted in Gold | Leave a comment