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- Crude Oil: Oil trading higher ahead of Baker Hughes weekly rig count data
- Silver; White metal trading on a weaker footing this morning
- Gold: Yellow metal reverses it gains in the Asian session
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- USD/CAD: Loonie trading on a stronger footing this morning
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Daily Archives: August 10, 2011
Trading signals for Wednesday 10-08-2011
Forex, Commodities and Index signals for Wednesday 10-08-2011 11:00 GMT
Posted in Trading Signals
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Flat FED
Markets reacted positively to Tuesday’s FOMC statement. While officials did pledge to use additional policy tools as appropriate and embellished the “exceptionally low” rate commitment to indicate low rates are likely to be warranted “at least through mid-2013″, they also acknowledged increased downside risks to growth. Equity markets initially fell on the dovish outlook but later rallied after the rates commitment. Asian equities rallied and high-beta risk currencies gained, with AUD and NZD in particular recovering some lost ground. EURUSD traded 1.4398-1.4196, USDJPY 77.31-76.71. Continue reading
Posted in Market Snapshot
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AUD/USD: Aussie erases yesterday’s gains, trading lower this morning
For the 24 hours to 23:00 GMT, AUD strengthened 2.12% against the USD to close at 1.0361, after the US Federal Reserve indicated that it would maintain a low interest rate for at least the next two years. In Australia, … Continue reading
Posted in AUD/USD
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USD/CAD: Canadian dollar trading tad lower this morning
For the 24 hours to 23:00 GMT, USD declined 1.17% against the CAD to close at 0.9802, after the US Federal Reserve indicated that it would maintain its hefty monetary policy stimulus for another two years. In Canada, the Canada … Continue reading
Posted in USD/CAD
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USD/JPY: Japanese yen continues to strengthen, intervention effects fade, credit negative for Japan economy: Moody’s
For the 24 hours to 23:00 GMT, USD weakened 0.67% against the JPY and closed at 77.03, after the Federal Reserve stated that it would keep interest rates low for at least two years, keeping the Fed fund rate at … Continue reading
Posted in USD/JPY
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GBP/USD: Pound lower on weak UK economic data
For the 24 hours to 23:00 GMT, GBP fell 0.16% against the USD and closed at 1.6303, after UK manufacturing unexpectedly dropped in June and the trade deficit widened, and as the worst civil unrest in 30 years added to … Continue reading
Posted in GBP/USD
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USD/CHF: Swiss Franc rises on Federal Reserve’s policy decision, trading lower this morning
For the 24 hours to 23:00 GMT, USD declined 4.20% against the CHF and closed at 0.7225, as the Federal Reserve’s pledge to keep rates near zero for another two years further diminished its allure to global investors. In the … Continue reading
Posted in USD/CHF
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EUR/USD: EUR trading lower in the Asian session
For the 24 hours to 23:00 GMT, EUR rose 1.33% against the USD and closed at 1.4369, after the Federal Reserve stated that it would keep interest rates low for at least the next two years. EUR was also benefitted … Continue reading
Posted in EUR/USD
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Crude Oil: Cementing gains
Oil prices advanced 1.31% against the USD for the 24 hour period ending 23:00GMT, closing at 81.67, after the American Petroleum Institute (API) data showed an unexpected drop in US crude stockpiles. Late Tuesday, the API indicated that crude-oil supplies … Continue reading
Posted in Crude Oil
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Silver: Trading higher this morning
Silver prices declined 2.68% to USD38.17 per ounce during the 24 hours ending 23:00GMT. In the Asian session at 3:00GMT, silver is trading at USD38.42 per ounce, 0.65% higher, from 23:00GMT. The first level of short term resistance on the … Continue reading
Posted in Silver
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Gold: Yellow metal continues to roar
Gold prices traded higher by 1.64% against the USD in the 24 hour period ending 23:00GMT, at USD1,749.70 per ounce, as the Federal Reserve pledged to keep its benchmark interest rate low at least through mid-2013. In the Asian session … Continue reading
Posted in Gold
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