Daily Newsletter Newsletter-Commodity 10/01/2011
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MARKET WRAP Gold's biggest weekly loss since May US unemployment rate dips, but jobs rise below forecast Dollar strength as euro slides U.S. oil slips as dollar stronger Copper ended down for a fourth consecutive session
U.S. oil prices fell on Friday in volatile trade as the stronger dollar and a stock market slide erased earlier gains, and crude started the year with a weekly loss. Gold dipped on Friday, as disappointing U.S. job growth failed to revive safe-haven demand following a raft of strong economic data, and bullion notched its biggest weekly decline since May. Copper ended down for a fourth consecutive session on Friday after disappointing jobs data in the United States tempered some of the economic recovery optimism behind the metal's early-year rally to record highs. U.S. non-farm payrolls increased by 103,000 in December, below economist forecasts of 175,000 new jobs, but the jobless rate fell to 9.4 percent from 9.8 percent in November, its lowest in more than 1-1/2 years.
ECONOMIC CALENDAR Date Mon Jan 10
Time
Currency
Economic Data
Forecast Previous
All Day
JPY
Bank Holiday
1:15pm
EUR
French Industrial Production m/m
0.8%
-0.8%
1:30pm
GBP
Halifax HPI m/m
-0.3%
-0.1%
3:00pm
EUR
Sentix Investor Confidence
11.3
9.7
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TECHNICAL VIEW GOLD(FEB) Trend Strategy
• Consolidate • Buy on dips
SILVER(MAR MAR) Trend Strategy
• Consolidate • Buy on dips
Resistance
• R2 -20890 • R1 -20580
Resistance
• R2 - 45600 • R1 - 44850
support
• S1 -20250 • S2 -20030
support
• S1 - 43500 • S2 - 42650
COPPER(FEB) Trend Strategy
• Consolidate • Buy on dips
CRUDE(JAN)) Trend Strategy
• Consolidate • Buy on dips
Resistance
• R2 - 446 • R1 - 438
Resistance
• R2 - 4150 • R1 - 4070
support
• S1 - 427 • S2 - 418
support
• S1 - 3980 • S2 - 3910
NATURALGAS(JAN) Trend Strategy
• Consolidate • Sell on high
LEAD(JAN) Trend Strategy
• Bullish • Buy on dips
Resistance
•R2 - 215 •R1 - 207
Resistance
• R2 - 125.5 • R1 - 122.1
support
•S1 - 197 •S2 - 189
support
• S1 - 118.7 •S2 - 115.5
ZINC(JAN) Trend Strategy
• Bullish • Buy on dips
NICKEL(JAN) NICKEL(JAN Trend Strategy
• Consolidate • Sell on high
Resistance
•R2 - 115.5 •R1 - 112.1
Resistance
•R2 - 1145 •R1 - 1121
support
•S1 - 109.3 •S2 - 106.5
support
•S1 - 1095 •S2 - 1073
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ALUMINIUM(JAN) Trend Strategy
• Bullish • Buy on dips
Resistance
•R2 - 117.5 •R1 - 114.8
support
•S1 - 112.3 •S2 - 109.7
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