Daily Newsletter Newsletter-Commodity 24/11/2010
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MARKET WRAP Gold held above 1275$ on Tuesday Euro sheds early gains versus dollar Oil fell towards $81 on Tuesday Copper prices fell more than two percent in London
Gold held near one-week highs on Tuesday as weakness in the euro stemming from the ongoing European debt crisis offset any potential price gains from a major exchange of artillery fire on the Korean peninsula. Copper prices fell more than two percent in London and 3 percent Shanghai on Tuesday, weighed down by a rally in the dollar on reports that North Korea had fired artillery shells at a South Korean island and lingering fears about euro zone indebtedness.
ECONOMIC CALENDAR Date
Time
Currency
Economic Data
Forecast Previous
Wed Nov 24
12:30am
USD
FOMC Meeting Minutes
7:00pm
USD
0.7%
-0.4%
7:00pm
USD
Core Durable Goods Orders m/m Unemployment Claims
434K
439K
7:00pm
USD
Core PCE Price Index m/m
0.1%
0.0%
7:00pm
USD
Personal Spending m/m
0.5%
0.2%
8:25pm
USD
8:30pm
USD
Revised UoM Inflation Expectations New Home Sales
311K
307K
9:00pm
USD
Crude Oil Inventories
-1.9M
-7.3M
10:30pm
USD
Natural Gas Storage
-6B
3B
3.0%
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TECHNICAL GOLD(DEC) Trend Strategy
• Consolidate • Buy on dips
COPPER(NOV)
NATURALGAS(DEC)
ZINC(NOV)
info@capitalheight.com Phone- (0731)4295950
ALUMINIUM(NOV) Trend Strategy
• Consolidate • Buy on dips
Resistance
•R2 - 106.7 •R1 - 104.8
support
•S1 - 101.7 •S2 - 99.5
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