Daily Newsletter Newsletter-Commodity 15/11/2010
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MARKET WRAP Gold falls most since July Silver's biggest one-day loss since February Oil tumbles on China rate Copper knocked by China interest rate Zinc falls as much as 7 percent
Gold suffered its biggest fall in four months on Friday, tumbling 3 percent as Chinese rate-hike talk, eurozone debt worries and weaker Treasuries prices triggered widespread unwinding of risk in commodities. Oil prices slumped more than 3 percent on Friday, retreating from a 25-month high, amid a broad commodities rout on fears that China may raise interest rates to brake its economy and concerns about euro zone debt. Copper fell on Friday, receding from the previous session's record high to hit a one-week low on talk of an interest rate hike in top consumer China.
ECONOMIC CALENDAR Date
Time
Currency
Economic Data
Mon Nov 15
2:30pm
EUR
Italian Trade Balance
3:30pm
EUR
7:00pm
Forecast Previous -1.91B
-3.26B
Trade Balance
1.3B
-1.4B
USD
Core Retail Sales m/m
0.4%
0.4%
7:00pm
USD
Retail Sales m/m
0.7%
0.6%
7:00pm
USD
13.9
15.7
8:30pm
USD
Empire State Manufacturing Index Business Inventories m/m
0.6%
0.6%
15th-26th
USD
Mortgage Delinquencies
9.85%
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TECHNICAL VIEW GOLD(DEC) Trend Strategy
• Consolidate • Buy on dips
SILVER(DEC DEC) Trend Strategy
• Consolidate • Buy on dips
Resistance
• R2 -20550 • R1 -20280
Resistance
• R2 - 40750 • R1 - 39850
support
• S1 -20050 • S2 -19820
support
• S1 - 38550 • S2 - 37750
COPPER(NOV) Trend Strategy
• Bullish • Buy on dips
CRUDE(NOV) CRUDE(NOV Trend Strategy
• Consolidate • Buy on dips
Resistance
• R2 - 403 • R1 - 395
Resistance
• R2 - 3930 • R1 - 3870
support
• S1 - 385 • S2 - 377
support
• S1 - 3790 • S2 - 3710
NATURALGAS(NOV)) Trend Strategy
• Consolidate • Sell on high
LEAD(NOV) Trend Strategy
• Consolidate • Buy on dips
Resistance
•R2 - 186 •R1 - 177
Resistance
• R2 - 116.8 • R1 - 113.6
support
•S1 - 167 •S2 - 161
support
• S1 - 110.7 •S2 - 107.5
ZINC(NOV) Trend Strategy
• Consolidate • Sell on high
NICKEL(NOV) NICKEL(NOV Trend Strategy
• Consolidate • Sell on high
Resistance
•R2 - 111.8 •R1 - 109.5
Resistance
•R2 - 1173 •R1 - 1043
support
•S1 - 106.4 •S2 - 103.5
support
•S1 - 1005 •S2 - 979
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ALUMINIUM(NOV) Trend Strategy
• Consolidate • Buy on dips
Resistance
•R2 - 110.5 •R1 - 108.7
support
•S1 - 106.3 •S2 - 104.5
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