Daily Newsletter Newsletter-Commodity 07/09/2010
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MARKET WRAP U.S dollar fell against the euro Copper prices rose near four-month highs on Monday Gold held steady near $1,250 an ounce Aluminium, lead hit 1-month high U.S. oil prices slipped towards $74 per barrel
Gold held steady near $1,250 an ounce in Europe on Monday as expectations for a rise in physical demand going into the fourth quarter supported prices, but with gains limited by a recovery in risk appetite. Copper prices rose near four-month highs on Monday as investors bet on improved demand following better-than-forecast jobs data in the United States, the world's largest economy. U.S. oil prices slipped towards $74 per barrel on Monday as the end of the U.S. driving season.
ECONOMIC CALENDAR Date
Time
Currency
Economic Data
Forecast Previous
Tue Sep 7
12:40am
USD
President Obama Speaks
Tentative
JPY
Monetary Policy Statement
Tentative
JPY
Overnight Call Rate
0.10%
0.10%
10:30am
JPY
Leading Indicators
98.3%
99.0%
Tentative
JPY
BOJ Press Conference
7th-8th
GBP
Halifax HPI m/m
-0.3%
0.6%
3:30pm
EUR
German Factory Orders m/m
0.6%
3.2%
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TECHNICAL VIEW GOLD(OCT) Trend Strategy
• Consolidate • Buy on dips
SILVER(DEC DEC) Trend Strategy
• Bullish • Buy on dips
Resistance
• R2 -19350 • R1 -19070
Resistance
• R2 - 32380 • R1 - 31550
support
• S1 -18830 • S2 -18650
support
• S1 - 30950 • S2 - 30380
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 - 354 • S2 - 347
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 - 105.5 • R1 - 102.8
support
•S1 - 178 •S2 - 167
support
• S1 - 100.3 •S2 - 97.8
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 - 1068 •R1 - 1045
support
•S1 - 99.3 •S2 - 96.4
support
•S1 - 1018 •S2 - 995
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ALUMINIUM(SEP) Trend Strategy
• Consolidate • Buy on dips
Resistance
•R2 - 104.5 •R1 - 102.7
support
•S1 - 100.2 •S2 - 98.5
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