Daily Newsletter Newsletter-Commodity 14/01/2011
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MARKET WRAP The euro rose against the dollar Gold undermined by US data Copper softens on concerns about China demand U.S. crude down as jobless claims data disappoint
Gold fell on Thursday, succumbing to a flurry of profit-taking after surprisingly weak U.S. jobs data briefly sent the price to one-week highs, although persistent concern over the euro zone helped contain the slide. Copper fell on Thursday, after two days of gains, on concerns that demand may wane in China because the top metals consumer is approaching its New Year holiday and also may further tighten monetary policy.
ECONOMIC CALENDAR Date
Time
Currency
Economic Data
Forecast Previous
Fri Jan 14
7:00pm
USD
Core CPI m/m
0.1%
0.1%
7:00pm
USD
Core Retail Sales m/m
0.7%
1.2%
7:00pm
USD
Retail Sales m/m
0.8%
0.8%
7:00pm
USD
CPI m/m
0.4%
0.1%
7:45pm
USD
Capacity Utilization Rate
75.6%
75.2%
7:45pm
USD
Industrial Production m/m
0.5%
0.4%
8:25pm
USD
75.5
74.5
8:25pm
USD
8:30pm
USD
Prelim UoM Consumer Sentiment Prelim UoM Inflation Expectations Business Inventories m/m
3.0% 0.7%
0.7%
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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 -20650 • R1 -20480
Resistance
• R2 - 46200 • R1 - 45250
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 - 437 • S2 - 428
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 - 205
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 - 113.3
support
•S1 - 111.3 •S2 - 109.7
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