Daily Newsletter Newsletter-Commodity 15/07/2011
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MARKET WRAP Gold hits record after Moody's warning Dollar slides against currency basket Silver rose 2 percent U.S. jobless claims fall, retail sales up Copper eases on economic recovery concerns Gold prices hit record highs for a second day on Thursday after hints of further policy easing from the Federal Reserve and a Moody's warning the United States may lose its top-notch credit rating hurt the dollar and sparked buying of safe-haven assets. .S. crude ticked up and Brent pared losses in choppy trading on Thursday due to a weak dollar and better-than-expected U.S. jobs and retail data. Copper slipped on Thursday on the London Metal Exchange, as concerns over the health of the world's largest economy, the United States, offset worries over supply constraints and prospects of improving demand growth in the second half in Asia.
ECONOMIC CALENDAR Date
Time
Currency
Economic Data
Forecast Previous
Fri Jul 15
6:00pm
USD
Core CPI m/m
0.2%
0.3%
6:00pm
USD
CPI m/m
-0.1%
0.2%
6:00pm
USD
Empire State Manufacturing Index
4.5
-7.8
6:45pm
USD
Capacity Utilization Rate
77.0%
76.7%
6:45pm
USD
Industrial Production m/m
0.4%
0.1%
7:25pm
USD
Prelim UoM Consumer Sentiment
72.5
71.5
7:25pm
USD
Prelim UoM Inflation Expectations
3.8%
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TECHNICAL VIEW GOLD(AUG) Trend Strategy
• Consolidate • Buy on dips
SILVER(SEP SEP) Trend Strategy
• Consolidate • Buy on dips
Resistance
• R2 - 23450 • R1 - 23120
Resistance
• R2 - 59900 • R1 - 58650
support
• S1 - 22850 • S2 - 22570
support
• S1 - 56870 • S2 - 55700
COPPER(AUG)) Trend Strategy
• Consolidate • Buy on dips
CRUDE(JULY JULY) Trend Strategy
• Consolidate • Buy on dips
Resistance
• R2 - 447 • R1 - 437
Resistance
• R2 - 4440 • R1 - 4360
support
• S1 - 427 • S2 - 419
support
• S1 - 4230 • S2 - 4150
NATURALGAS(JULY JULY) Trend Strategy
• Consolidate • Sell on high
LEAD(JULY JULY) Trend Strategy
• Consolidate • Buy on dips
Resistance
•R2 - 205 •R1 - 198
Resistance
• R2 - 124.2 • R1 - 120.8
support
•S1 - 185 •S2 - 177
support
• S1 - 118.2 •S2 - 115.5
ZINC(JULY) Trend Strategy
• Consolidate • Sell on high
NICKEL(JULY) Trend Strategy
• Consolidate • Buy on dips
Resistance
•R2 - 108.5 •R1 - 106.4
Resistance
•R2 - 1125 •R1 - 1093
support
•S1 - 103.2 •S2 - 100.5
support
•S1 - 1049 •S2 - 1015
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info@capitalheight.com PhonePhone (0731)4295950
ALUMINIUM(JULY JULY) Trend Strategy
• Consolidate • Sell on high
Resistance
•R2 - 114.8 •R1 - 112.3
support
•S1 - 109.5 •S2 - 106.8
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