Daily Newsletter Newsletter-Commodity 15/10/2010
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MARKET WRAP Gold hits record highs as dollar wilts Silver hits 30-year peak Copper touched its highest in more than two years Oil rises above $83 on dollar
Gold rallied to fresh record highs in Europe on Thursday as the dollar slid to its lowest this year versus a basket of major currencies, boosting interest in the metal as a haven from currency market volatility. Oil rose towards five-month highs above $84 per barrel on Thursday in a broad-based rally of commodities fuelled by a slump in the dollar and news of a surprise drop in U.S. stockpiles.
ECONOMIC CALENDAR Date
Time
Currency
Economic Data
Forecast Previous
Fri Oct 15
5:45pm
USD
Fed Chairman Bernanke Speaks
6:00pm
USD
Core CPI m/m
0.1%
0.0%
6:00pm
USD
Core Retail Sales m/m
0.4%
0.6%
6:00pm
USD
Retail Sales m/m
0.5%
0.4%
6:00pm
USD
CPI m/m
0.2%
0.3%
6:00pm
USD
Empire State Manufacturing Index
7.1
4.1
7:25pm
USD
Prelim UoM Consumer Sentiment
68.8
68.2
7:25pm
USD
Prelim UoM Inflation Expectations
7:30pm
USD
Business Inventories m/m
11:30pm
USD
Federal Budget Balance
2.2% 0.5%
1.0%
-32.3B
-90.5B
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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 -20150 • R1 -19970
Resistance
• R2 - 37350 • R1 - 36600
support
• S1 -19670 • S2 -19350
support
• S1 - 35850 • S2 - 35180
COPPER(NOV) Trend Strategy
• Bullish • Buy on dips
CRUDE(OCT)) Trend Strategy
• Consolidate • Buy on dips
Resistance
• R2 - 385 • R1 - 377
Resistance
• R2 - 3790 • R1 - 3720
support
• S1 - 369 • S2 - 361
support
• S1 - 3610 • S2 - 3530
NATURALGAS(OCT) Trend Strategy
• Consolidate • Sell on high
LEAD(OCT)) Trend Strategy
• Consolidate • Buy on dips
Resistance
•R2 - 177 •R1 - 169
Resistance
• R2 - 110.5 • R1 - 107.8
support
•S1 - 159 •S2 - 147
support
• S1 - 104.5 •S2 - 101.3
ZINC(OCT) Trend Strategy
• Consolidate • Buy on dips
NICKEL(OCT) NICKEL(OCT Trend Strategy
• Bullish • Buy on dips
Resistance
•R2 - 109.8 •R1 - 107.5
Resistance
•R2 - 1133 •R1 - 1105
support
•S1 - 104.2 •S2 - 101.5
support
•S1 - 1065 •S2 - 1041
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info@capitalheight.com Phone- (0731)4295950
ALUMINIUM(OCT) Trend Strategy
• Consolidate • Buy on dips
Resistance
•R2 - 109.5 •R1 - 107.9
support
•S1 - 104.8 •S2 - 101.5
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