Daily Newsletter Newsletter-Commodity 26/10/2010
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MARKET WRAP Gold rose about 1 percent U.S. existing home sales rise more than expected Oil rises to $83 as dollar weakens Dollar slips V/S euro Copper at 27-month top on dollar Lead and zinc hit 9-month tops on China shutdowns
Copper rose to a 27-month high above $8,500 a tonne on Monday as the dollar sank after a weekend G20 meeting, while investors took comfort from falling stocks and strong demand in top consumer China. Oil jumped by more than a dollar to around $83 a barrel on Monday, gaining for a second session as the U.S. currency weakened after a Group of 20 meeting and strikes in France disrupted oil supplies.
ECONOMIC CALENDAR Date
Time
Currency
Economic Data
Tue Oct 26
2:00am
USD
FOMC Member Dudley Speaks
5:30am
USD
FOMC Member Hoenig Speaks
11:30am
EUR
GfK German Consumer Climate
11:30am
EUR
6:30pm
Forecast Previous
5.2
4.9
German Import Prices m/m
0.1%
0.2%
USD
S&P/CS Composite-20 HPI y/y
2.4%
3.2%
7:30pm
USD
CB Consumer Confidence
49.3
48.5
7:30pm
USD
HPI m/m
-0.2%
-0.5%
7:30pm
USD
Richmond Manufacturing Index
-1
-2
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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 -19950 • R1 -19620
Resistance
• R2 - 36350 • R1 - 35750
support
• S1 -19350 • S2 -19080
support
• S1 - 34850 • S2 - 34180
COPPER(NOV) Trend Strategy
• Bullish • Buy on dips
CRUDE(NOV) CRUDE(NOV Trend Strategy
• Consolidate • Buy on dips
Resistance
• R2 - 389 • R1 - 382
Resistance
• R2 - 3790 • R1 - 3720
support
• S1 - 375 • S2 - 367
support
• S1 - 3610 • S2 - 3525
NATURALGAS(OCT) Trend Strategy
• Bearish • Sell on high
LEAD(OCT)) Trend Strategy
• Bullish • Buy on dips
Resistance
•R2 - 161 •R1 - 153
Resistance
• R2 - 116.5 • R1 - 114.1
support
•S1 - 144 •S2 - 137
support
• S1 - 111.3 •S2 - 108.5
ZINC(OCT) Trend Strategy
• Bullish • Buy on dips
NICKEL(OCT) NICKEL(OCT Trend Strategy
• Consolidate • Sell on high
Resistance
•R2 - 117.3 •R1 - 114.1
Resistance
•R2 - 1085 •R1 - 1065
support
•S1 - 110.3 •S2 - 107.5
support
•S1 - 1033 •S2 - 1005
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ALUMINIUM(OCT) Trend Strategy
• Consolidate • Sell on high
Resistance
•R2 - 107.9 •R1 - 105.7
support
•S1 - 103.7 •S2 - 101.3
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