Daily Newsletter Newsletter-Commodity 03/09/2010
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MARKET WRAP LME nickel gained 3 percent Copper rose to its highest in more than four months Gold tops $1,250/oz, investors edgy before US jobs Dollar slips against all major currencies Oil rose on Wednesday, rebounding after two days of declines
Oil rose on Wednesday, rebounding after two days of declines to finish nearly 3 percent higher as strong manufacturing data from China and the United States revived risk appetite and eased worries about flagging energy demand. The U.S. dollar fell against major currencies after the upbeat manufacturing data calmed investors worried about the global economy, improving appetite for riskier assets. Gold rose on Thursday as overarching concern about growth-linked assets ahead of key U.S. jobs data sharpened investor appetite for bullion, as evidenced by a third straight increase in exchangetraded fund holdings.
ECONOMIC CALENDAR Date
Time
Currency
Economic Data
Forecast Previous
Fri Sep 3
1:30pm
EUR
Final Services PMI
55.6
55.6
2:30pm
EUR
Retail Sales m/m
0.3%
0.0%
6:00pm
USD
Non-Farm Employment Change
-101K
-131K
6:00pm
USD
Unemployment Rate
9.6%
9.5%
6:00pm
USD
Average Hourly Earnings m/m
0.1%
0.2%
7:30pm
USD
ISM Non-Manufacturing PMI
53.6
54.3
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TECHNICAL VIEW GOLD(OCT) Trend Strategy
• Bullish • Buy on dips
SILVER(DEC DEC) Trend Strategy
• Bullish • Buy on dips
Resistance
• R2 -19420 • R1 -19170
Resistance
• R2 - 31880 • R1 - 31250
support
• S1 -18930 • S2 -18750
support
• S1 - 30750 • S2 - 30180
COPPER(NOV) Trend Strategy
• Bullish • Buy on dips
CRUDE(SEP)) Trend Strategy
• Consolidate • Sell on high
Resistance
• R2 - 371 • R1 - 363
Resistance
• R2 - 3610 • R1 - 3530
support
• S1 - 352 • S2 - 345
support
• S1 - 3410 • S2 - 3330
NATURALGAS(SEP) Trend Strategy
• Consolidate • Sell on higher
LEAD(SEP) Trend Strategy
• Consolidate • Buy on dips
Resistance
•R2 - 193 •R1 - 185
Resistance
• R2 - 104.5 • R1 - 102.2
support
•S1 - 175 •S2 - 167
support
• S1 - 99.5 •S2 - 96.8
ZINC(SEP) Trend Strategy
• Consolidate • Buy on dips
NICKEL(SEP) NICKEL(SEP Trend Strategy
• Consolidate • Sell on high
Resistance
•R2 - 105.7 •R1 - 102.5
Resistance
•R2 - 1055 •R1 - 1023
support
•S1 - 99.3 •S2 - 96.4
support
•S1 - 1002 •S2 - 975
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info@capitalheight.com Phone- (0731)4295950
ALUMINIUM(SEP) Trend Strategy
• Consolidate • Sell on higher
Resistance
•R2 - 101.5 •R1 - 99.7
support
•S1 - 98.2 •S2 - 95.7
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