Daily Newsletter Newsletter-Commodity 12/10/2010
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MARKET WRAP Gold rises towards $1,350/oz Aluminium falls from new multi weak high Base metals up on monday Copper retreated from a more than two-year high Dollar turns higher v/s Euro
Gold rose back towards $1,350 an ounce in Europe on Monday as the dollar languished, with confidence in the U.S. currency undermined by expectations the Federal Reserve will persist with a loose monetary policy. Copper hit its highest level in more than two years on Monday, buoyed by expectations of more quantitative easing (QE) in the United States that could erode the dollar plus potential new investment demand.
ECONOMIC CALENDAR Date
Time
Currency
Economic Data
Forecast Previous
Tue 12:15am Oct 12 11:30am
USD
FOMC Member Yellen Speaks
EUR
German Final CPI m/m
-0.1%
-0.1%
11:30am
EUR
German WPI m/m
0.4%
1.6%
7:30pm
USD
IBD/TIPP Economic Optimism
46.7
45.3
9:15pm
USD
FOMC Member Hoenig Speaks
9:50pm
EUR
ECB President Trichet Speaks
11:30pm
USD
FOMC Meeting Minutes
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TECHNICAL VIEW GOLD(DEC) Trend Strategy
• Bullish • Buy on dips
SILVER(DEC DEC) Trend Strategy
• Bullish • Buy on dips
Resistance
• R2 -19970 • R1 -19720
Resistance
• R2 - 35800 • R1 - 35100
support
• S1 -19470 • S2 -19150
support
• S1 - 34350 • S2 - 33680
COPPER(NOV) Trend Strategy
• Bullish • Buy on dips
CRUDE(OCT)) Trend Strategy
• Consolidate • Buy on dips
Resistance
• R2 - 385 • R1 - 373
Resistance
• R2 - 3790 • R1 - 3710
support
• S1 - 364 • S2 - 357
support
• S1 - 3610 • S2 - 3530
NATURALGAS(OCT) Trend Strategy
• Consolidate • Sell on high
LEAD(OCT)) Trend Strategy
• Consolidate • Buy on dips
Resistance
•R2 - 175 •R1 - 166
Resistance
• R2 - 105.8 • R1 - 103.3
support
•S1 - 158 •S2 - 147
support
• S1 - 100.5 •S2 - 98.7
ZINC(OCT) Trend Strategy Resistance support
• Consolidate • Buy on dips •R2 - 106.5 •R1 - 104.2 •S1 - 100..57 •S2 - 98
NICKEL(OCT) NICKEL(OCT Trend Strategy
• Bullish • Buy on dips
Resistance
•R2 - 1133 •R1 - 1105
support
•S1 - 1073 •S2 - 1041
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ALUMINIUM(OCT) Trend Strategy
• Consolidate • Buy on dips
Resistance
•R2 - 109.5 •R1 - 107.2
support
•S1 - 105.3 •S2 - 103.5
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