Daily Newsletter Newsletter-Commodity 12/11/2010
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MARKET WRAP Oil hovered near $88 a barrel The dollar rose against the euro Gold retreated from early highs on Thursday Copper at record high as commodities surge
Gold retreated from early highs on Thursday as the dollar extended gains versus the euro, lifted by escalating concerns over debt in some euro zone economies and by a report suggesting U.S. monetary easing may be tempered. Copper scored a record high on Thursday, tracking this week's historic milestones in gold and tin while oil hit a 25month high, as Chinese data boosted the outlook for raw material demand.
ECONOMIC CALENDAR Date
Time
Currency
Economic Data
Forecast Previous
Fri Nov 12
Day 2
ALL
G20 Meetings
12:00pm
EUR
French Prelim GDP q/q
0.5%
0.7%
12:30pm
EUR
German Prelim GDP q/q
0.8%
2.2%
2:30pm
EUR
Italian Prelim GDP q/q
0.4%
0.5%
3:30pm
EUR
Flash GDP q/q
0.5%
1.0%
3:30pm
EUR
Industrial Production m/m
0.4%
1.1%
7:05pm
USD
FOMC Member Tarullo Speaks
8:25pm
USD
69.1
67.7
8:25pm
USD
Prelim UoM Consumer Sentiment Prelim UoM Inflation Expectations
2.7%
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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 -20730 • R1 -20480
Resistance
• R2 - 41750 • R1 - 40950
support
• S1 -20250 • S2 -20020
support
• S1 - 39850 • S2 - 38750
COPPER(NOV) Trend Strategy
• Bullish • Buy on dips
CRUDE(NOV) CRUDE(NOV Trend Strategy
• Consolidate • Buy on dips
Resistance
• R2 - 407 • R1 - 399
Resistance
• R2 - 4020 • R1 - 3930
support
• S1 - 390 • S2 - 381
support
• S1 - 3850 • S2 - 3770
NATURALGAS(NOV)) Trend Strategy
• Consolidate • Sell on high
LEAD(NOV) Trend Strategy
• Bullish • Buy on dips
Resistance
•R2 - 195 •R1 - 186
Resistance
• R2 - 118.8 • R1 - 116.6
support
•S1 - 176 •S2 - 167
support
• S1 - 113.8 •S2 - 110.5
ZINC(NOV) Trend Strategy
• Consolidate • Sell on high
NICKEL(NOV) NICKEL(NOV Trend Strategy
• Consolidate • Buy on dips
Resistance
•R2 - 116.3 •R1 - 113.5
Resistance
•R2 - 1125 •R1 - 1095
support
•S1 - 110.2 •S2 - 107.4
support
•S1 - 1065 •S2 - 1033
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ALUMINIUM(NOV) Trend Strategy
• Consolidate • Buy on dips
Resistance
•R2 - 112.5 •R1 - 110.2
support
•S1 - 108.2 •S2 - 106.3
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