Daily Newsletter Newsletter-Commodity 07/07/2011
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MARKET WRAP Gold prices hit a two-week high on Wednesday Dollar hits session highs versus currency basket Copper falls on China rate rise Copper stocks at LME warehouses fall Oil slips on Europe debt worries Gold prices hit a two-week high on Wednesday, extending the previous session's 1.3 percent rise, as a rate hike from China put inflation concerns back in the spotlight, and as worries over euro zone and U.S. debt lifted the metal's haven appeal. Copper fell on Wednesday after China raised interest rates and Moody's downgraded Portugal's credit rating over the euro zone's debt problems, but supply disruptions at some of the world's top copper mines are expected to keep a floor under prices.
ECONOMIC CALENDAR Date
Time
Currency
Economic Data
Forecast Previous
Thu Jul 7
12:15pm
EUR
French Trade Balance
-6.6B
-7.1B
3:30pm
EUR
German Industrial Production m/m
0.7%
-0.6%
5:15pm
EUR
Minimum Bid Rate
1.50%
1.25%
5:45pm
USD
ADP Non-Farm Employment Change
67K
38K
6:00pm
EUR
ECB Press Conference
6:00pm
USD
Unemployment Claims
421K
428K
8:00pm
USD
Natural Gas Storage
80B
78B
8:30pm
USD
Crude Oil Inventories
-2.4M
-4.4M
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TECHNICAL VIEW GOLD(AUG) Trend Strategy
• Consolidate • Buy on dips
SILVER(SEP SEP) Trend Strategy
• Consolidate • Buy on dips
Resistance
• R2 - 22550 • R1 - 22280
Resistance
• R2 - 55800 • R1 - 54750
support
• S1 - 21950 • S2 - 21670
support
• S1 - 53180 • S2 - 52300
COPPER(AUG)) Trend Strategy
• Consolidate • Buy on dips
CRUDE(JULY JULY) Trend Strategy
• Consolidate • Buy on dips
Resistance
• R2 - 439 • R1 - 431
Resistance
• R2 - 4450 • R1 - 4365
support
• S1 - 417 • S2 - 409
support
• S1 - 4260 • S2 - 4170
NATURALGAS(JULY JULY) Trend Strategy
• Consolidate • Sell on high
LEAD(JULY JULY) Trend Strategy
• Consolidate • Buy on dips
Resistance
•R2 - 205 •R1 - 197
Resistance
• R2 - 123.5 • R1 - 120.3
support
•S1 - 187 •S2 - 181
support
• S1 - 117.8 •S2 - 114.5
ZINC(JULY) Trend Strategy
• Consolidate • Buy on dips
NICKEL(JULY) Trend Strategy
• Consolidate • Sell on high
Resistance
•R2 - 110.5 •R1 - 107.3
Resistance
•R2 - 1093 •R1 - 1057
support
•S1 - 104.9 •S2 - 101.3
support
•S1 - 1028 •S2 - 993
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info@capitalheight.com PhonePhone (0731)4295950
ALUMINIUM(JULY JULY) Trend Strategy
• Consolidate • Sell on high
Resistance
•R2 - 117.8 •R1 - 114.7
support
•S1 - 112.3 •S2 - 110.5
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