Daily Newsletter Newsletter-Commodity 21/09/2010
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MARKET WRAP Copper eases from 5-mth high Oil jumps above $75, A weak dollar also was supportive to oil. Gold hit record highs for a fourth day on Monday Euro up V/s Dollar Silver at 2-1/2 year highs, nears 30-year peaks
Gold hit record highs for a fourth day on Monday, lifted by a potent mix of factors including dollar weakness, further central bank buying and speculation more stimulus measures could prove inflationary. Copper climbed to a fresh five month peak on Monday, buoyed by a falling dollar and market talk of further quantitative easing in the United States. Oil edged higher on Monday towards $74 a barrel, after dropping 3.7 percent last week.
ECONOMIC CALENDAR Date
Time
Currency
Economic Data
Forecast Previous
Tue Sep 21
7:00am
AUD
2:00pm
GBP
Monetary Policy Meeting Minutes Public Sector Net Borrowing
12.3B
3.2B
4:30pm
CAD
Core CPI m/m
0.1%
-0.1%
4:30pm
CAD
CPI m/m
0.0%
0.5%
6:00pm
USD
Building Permits
0.56M
0.56M
6:00pm
USD
Housing Starts
0.55M
0.55M
11:45pm
USD
FOMC Statement
11:45pm
USD
Federal Funds Rate
<0.25%
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TECHNICAL VIEW GOLD(OCT) Trend Strategy
• Bullish • Buy on dips
SILVER(DEC DEC) Trend Strategy
• Bullish • Buy on dips
Resistance
• R2 -19350 • R1 -19180
Resistance
• R2 - 33150 • R1 - 32580
support
• S1 -19040 • S2 -18850
support
• S1 - 31850 • S2 - 31180
COPPER(NOV) Trend Strategy
• Consolidate • Buy on dips
CRUDE(SEP)) Trend Strategy
• Consolidate • Sell on high
Resistance
• R2 - 366 • R1 - 357
Resistance
• R2 - 3510 • R1 - 3440
support
• S1 - 351 • S2 - 343
support
• S1 - 3330 • S2 - 3250
NATURALGAS(SEP) Trend Strategy
• Consolidate • Sell on high
LEAD(SEP) Trend Strategy
• Consolidate • Sell on high
Resistance
•R2 - 189 •R1 - 181
Resistance
• R2 - 102.8 • R1 - 100.3
support
•S1 - 173 •S2 - 165
support
• S1 - 97.5 •S2 - 95.3
ZINC(SEP) Trend Strategy
• Consolidate • Sell on high
NICKEL(SEP) NICKEL(SEP Trend Strategy
• Consolidate • Buy on dips
Resistance
•R2 - 102.7 •R1 - 100.5
Resistance
•R2 - 1110 •R1 - 1083
support
•S1 - 97.7 •S2 - 95.5
support
•S1 - 1052 •S2 - 1018
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info@capitalheight.com Phone- (0731)4295950
ALUMINIUM(SEP) Trend Strategy
• Consolidate • Sell on dips
Resistance
•R2 - 102.7 •R1 - 100.5
support
•S1 - 98.8 •S2 - 96.5
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