Daily Newsletter Newsletter-Commodity 27/09/2010
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MARKET WRAP Gold futures rose on Friday, hitting all-time highs above $1,300 Silver climbs to 30-year peak on gold's coat-tails Oil rises in biggest weekly gain since July Euro up V/s Dollar Copper, aluminum, zinc, lead around 5-mth highs
Gold futures rose on Friday, hitting all-time highs above $1,300 an ounce as investors fretted over economic uncertainty after the Federal Reserve raised expectations to take new measures to spur growth. Oil prices rose sharply on Friday on the back of a sliding dollar as investors continued to anticipate the U.S. central bank will pump billions of dollars into the financial system to support the faltering economic recovery. Copper inched closer to the psychological $8,000 a tonne level on Friday, driven by expectations of further downward pressure in the U.S. dollar and a seasonally strong fourth-quarter demand outlook.
ECONOMIC CALENDAR Date
Time
Currency
Economic Data
Forecast Previous
Mon 12:30pm Sep 27 1:30pm
EUR
ECB President Trichet Speaks
EUR
M3 Money Supply y/y
0.4%
0.2%
1:30pm
EUR
Private Loans y/y
1.2%
0.9%
6:30pm
EUR
ECB President Trichet Speaks
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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 -19480 • R1 -19250
Resistance
• R2 - 33550 • R1 - 32750
support
• S1 -19040 • S2 -18850
support
• S1 - 32150 • S2 - 31380
COPPER(NOV) Trend Strategy
• Consolidate • Buy on dips
CRUDE(OCT)) Trend Strategy
• Consolidate • Sell on high
Resistance
• R2 - 372 • R1 - 364
Resistance
• R2 - 3580 • R1 - 3510
support
• S1 - 357 • S2 - 348
support
• S1 - 3430 • S2 - 3350
NATURALGAS(SEP) Trend Strategy
• Consolidate • Sell on high
LEAD(SEP) Trend Strategy
• Consolidate • Buy on dips
Resistance
•R2 - 186 •R1 - 179
Resistance
• R2 - 106.3 • R1 - 103.5
support
•S1 - 172 •S2 - 165
support
• S1 - 100.7 •S2 - 98.5
ZINC(SEP) Trend Strategy
• Consolidate • Buy on dips
NICKEL(SEP) NICKEL(SEP Trend Strategy
• Consolidate • Sell on dips
Resistance
•R2 - 103.7 •R1 - 101.7
Resistance
•R2 - 1083 •R1 - 1053
support
•S1 - 99.5 •S2 - 96.7
support
•S1 - 1025 •S2 - 995
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ALUMINIUM(SEP) Trend Strategy
• Consolidate • Buy on dips
Resistance
•R2 - 106.5 •R1 - 104.3
support
•S1 - 102.5 •S2 - 100.6
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