Daily Newsletter Newsletter-Commodity 13/01/2011
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MARKET WRAP Gold retreats after Portuguese debt auction The euro rose for a third day against the dollar Copper rose on Wednesday, boosted by positive economic data Nickel hits multi week high Brent crude oil rose to $98 a barrel
Gold eased on Wednesday after a successful Portuguese bond auction soothed some concern over the euro zone's finances and removed some investor desire for safehaven assets, though a softer dollar stemmed the slide. Copper rose on Wednesday, boosted by positive economic data and expectations of stronger demand from top metals consumer China, with a weaker U.S. dollar also supporting prices. Brent crude oil rose to $98 a barrel on Wednesday for the first time in 27 months.
ECONOMIC CALENDAR Date
Time
Currency
Economic Data
Thu 12:30am Jan 13 12:30am
USD
Beige Book
USD
Federal Budget Balance
7:00pm
USD
PPI m/m
7:00pm
USD
Trade Balance
7:00pm
USD
7:00pm
Forecast Previous
-81.1B
-150.4B
0.8%
0.8%
-40.8B
-38.7B
Unemployment Claims
405K
409K
USD
Core PPI m/m
0.2%
0.3%
9:00pm
USD
Natural Gas Storage
-146B
-135B
11:30pm
USD
Fed Chairman Bernanke Speaks
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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 -20650 • R1 -20480
Resistance
• R2 - 46200 • R1 - 45450
support
• S1 -20250 • S2 -20030
support
• S1 - 44300 • S2 - 43450
COPPER(FEB) Trend Strategy
• Consolidate • Buy on dips
CRUDE(JAN)) Trend Strategy
• Consolidate • Buy on dips
Resistance
• R2 - 453 • R1 - 447
Resistance
• R2 - 4250 • R1 - 4180
support
• S1 - 438 • S2 - 430
support
• S1 - 4110 • S2 - 4030
NATURALGAS(JAN) Trend Strategy
• Consolidate • Sell on high
LEAD(JAN) Trend Strategy
• Consolidate • Buy on dips
Resistance
•R2 - 215 •R1 - 207
Resistance
• R2 - 123.5 • R1 - 121.5
support
•S1 - 197 •S2 - 189
support
• S1 - 118.9 •S2 - 115.5
ZINC(JAN) Trend Strategy
• Consolidate • Buy on dips
NICKEL(JAN) NICKEL(JAN Trend Strategy
• Consolidate • Buy on dips
Resistance
•R2 - 114.5 •R1 - 111.9
Resistance
•R2 - 1210 •R1 - 1183
support
•S1 - 109.3 •S2 - 107.5
support
•S1 - 1147 •S2 - 1113
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ALUMINIUM(JAN) Trend Strategy
• Consolidate • Buy on dips
Resistance
•R2 - 116.5 •R1 - 114.1
support
•S1 - 112.3 •S2 - 109.7
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