Daily Newsletter Newsletter-Commodity 27/10/2010
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MARKET WRAP Gold and silver recovers from early lows Oil slips towards $82 before U.S. stocks data Dollar slips V/S euro Copper at 27-month top on dollar weakness Lead and zinc hit 9-month tops on China shutdowns
Copper prices flagged on Tuesday as the dollar rose, retreating from a 27-month peak hit earlier and tracking choppy currency trading ahead of a key Federal Reserve meeting next week. The dollar rose against a basket of major currencies, given an extra lift after October consumer confidence data . Gold pared losses in Europe on Tuesday as a report showed U.S. consumer confidence rose slightly in October, while the dollar was broadly firm.
ECONOMIC CALENDAR Date
Time
Currency
Economic Data
Forecast Previous
Wed Oct 27
2:00am
USD
FOMC Member Dudley Speaks
All Day
EUR
German Prelim CPI m/m
0.1%
-0.1%
1:30pm
EUR
M3 Money Supply y/y
1.4%
1.1%
1:30pm
EUR
Private Loans y/y
1.5%
1.2%
6:00pm
USD
Core Durable Goods Orders m/m
0.4%
1.7%
6:00pm
USD
Durable Goods Orders m/m
1.7%
-1.5%
7:30pm
USD
New Home Sales
301K
288K
8:00pm
USD
Crude Oil Inventories
1.1M
0.7M
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TECHNICAL VIEW GOLD(DEC) Trend Strategy
• Consolidate • Buy on dips
SILVER(DEC DEC) Trend Strategy
• Consolidate • Buy on dips
Resistance
• R2 -19950 • R1 -19620
Resistance
• R2 - 37150 • R1 - 36350
support
• S1 -19350 • S2 -19080
support
• S1 - 35550 • S2 - 34780
COPPER(NOV) Trend Strategy
• Bullish • Buy on dips
CRUDE(NOV) CRUDE(NOV Trend Strategy
• Consolidate • Buy on dips
Resistance
• R2 - 389 • R1 - 382
Resistance
• R2 - 3790 • R1 - 3720
support
• S1 - 375 • S2 - 367
support
• S1 - 3630 • S2 - 3525
NATURALGAS(OCT) Trend Strategy
• Bearish • Sell on high
LEAD(OCT)) Trend Strategy
• Bullish • Buy on dips
Resistance
•R2 - 161 •R1 - 153
Resistance
• R2 - 116.5 • R1 - 114.7
support
•S1 - 144 •S2 - 137
support
• S1 - 112.3 •S2 - 110.5
ZINC(OCT) Trend Strategy
• Bullish • Buy on dips
NICKEL(OCT) NICKEL(OCT Trend Strategy
• Consolidate • Sell on high
Resistance
•R2 - 119.3 •R1 - 116.1
Resistance
•R2 - 1085 •R1 - 1065
support
•S1 - 113.3 •S2 - 110.5
support
•S1 - 1033 •S2 - 1005
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ALUMINIUM(OCT) Trend Strategy
• Consolidate • Sell on high
Resistance
•R2 - 107.9 •R1 - 105.7
support
•S1 - 103.7 •S2 - 101.3
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