Daily Newsletter Newsletter-Commodity 03/11/2010
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MARKET WRAP Gold rises as dollar wilts ahead of Fed Dollar retreats ahead of Fed meeting Oil price jumps after Libya talks of $100 Copper rose on Tuesday as the dollar fell lead stocks at highest level in more than 10 years
Gold firmed in Europe on Tuesday, climbing back towards the previous session's near two-week high, as the dollar retreated ahead of a hotly anticipated policy meeting of the U.S. Federal Reserve starting today. Copper rose on Tuesday as the dollar fell and on signs demand could be improving in top metals consumer China as well as in Europe, but investors were cagey ahead of U.S. elections and a Federal Reserve meeting.
ECONOMIC CALENDAR Date
Time
Currency
Economic Data
Forecast Previous
Wed Nov 3
5:00pm
USD
Challenger Job Cuts y/y
5:45pm
USD
21K
-39K
7:30pm
USD
ADP Non-Farm Employment Change ISM Non-Manufacturing PMI
53.5
53.2
7:30pm
USD
Factory Orders m/m
1.3%
-0.5%
8:00pm
USD
Crude Oil Inventories
1.7M
5.0M
All Day
USD
Total Vehicle Sales
11.8M
11.8M
11:45pm
USD
FOMC Statement
11:45pm
USD
Federal Funds Rate
<0.25%
<0.25
-44.1%
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TECHNICAL VIEW GOLD(DEC) Trend Strategy
• Consolidate • Buy on dips
SILVER(DEC DEC) Trend Strategy
• Bullish • Buy on dips
Resistance
• R2 -20050 • R1 -19820
Resistance
• R2 - 37850 • R1 - 37300
support
• S1 -19630 • S2 -19450
support
• S1 - 36550 • S2 - 35880
COPPER(NOV) Trend Strategy
• Consolidate • Buy on dips
CRUDE(NOV) CRUDE(NOV Trend Strategy
• Consolidate • Buy on dips
Resistance
• R2 - 384 • R1 - 377
Resistance
• R2 - 3850 • R1 - 3770
support
• S1 - 368 • S2 - 361
support
• S1 - 3670 • S2 - 3590
NATURALGAS(NOV)) Trend Strategy
• Consolidate • Sell on high
LEAD(NOV) Trend Strategy
• Consolidate • Buy on dips
Resistance
•R2 - 187 •R1 - 179
Resistance
• R2 - 113.5 • R1 - 111.7
support
•S1 - 171 •S2 - 163
support
• S1 - 108.5 •S2 - 105.7
ZINC(NOV) Trend Strategy
• Consolidate • Buy on dips
NICKEL(NOV) NICKEL(NOV Trend Strategy
• Consolidate • Sell on high
Resistance
•R2 - 113.5 •R1 - 110.2
Resistance
•R2 - 1079 •R1 - 1055
support
•S1 - 107.2 •S2 - 104.5
support
•S1 - 1015 •S2 - 978
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ALUMINIUM(NOV) Trend Strategy
• Consolidate • Buy on dips
Resistance
•R2 - 110.7 •R1 - 108.5
support
•S1 - 105.7 •S2 - 103.3
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