Daily Newsletter Newsletter-Commodity 23/08/2011
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MARKET WRAP Gold prices retreated from early record highs near $1,900 China refined copper imports rise 8.8 pct in July Copper edges down on growth concerns Brent crude fell by more than a dollar on Monday Gold prices retreated from early record highs near $1,900 an ounce on Monday, as a rebound in stock markets from last week's lows gathered pace, denting interest in socalled safe haven assets like German bunds and bullion. Copper edged down on Monday, on growing concerns about a slowdown in the United States and a debt crisis in Europe, which raised fears about the outlook for global growth and demand for metals.
ECONOMIC CALENDAR Date
Time
Currency
Economic Data
Forecast Previous
Tue 12:30pm Aug 23 1:00pm
EUR
French Flash Manufacturing PMI
50.1
50.5
EUR
German Flash Manufacturing PMI
50.9
52.0
1:00pm
EUR
German Flash Services PMI
52.1
52.9
1:30pm
EUR
Flash Manufacturing PMI
49.6
50.4
1:30pm
EUR
Flash Services PMI
51.0
51.6
2:30pm
EUR
German ZEW Economic Sentiment
-24.8
-15.1
2:30pm
EUR
ZEW Economic Sentiment
-6.2
-7.0
7:30pm
EUR
Consumer Confidence
-12
-11
7:30pm
USD
New Home Sales
313K
312K
7:30pm
USD
Richmond Manufacturing Index
-7
-1
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TECHNICAL VIEW GOLD(OCT) Trend Strategy
• Bullish • Buy on dips
SILVER(SEP SEP) Trend Strategy
• Bullish • Buy on dips
Resistance
• R2 - 28500 • R1 - 28180
Resistance
• R2 - 68300 • R1 - 66800
support
• S1 - 27640 • S2 - 27150
support
• S1 - 64250 • S2 - 62800
COPPER(AUG)) Trend Strategy
• Consolidate • Sell on high
CRUDE(SEP SEP) Trend Strategy
• Consolidate • Buy on dips
Resistance
• R2 - 417 • R1 - 405
Resistance
• R2 - 3965 • R1 - 3870
support
• S1 - 393 • S2 - 385
support
• S1 - 3740 • S2 - 3650
NATURALGAS(AUG AUG) Trend Strategy
• Consolidate • Sell on high
LEAD(AUG AUG) Trend Strategy
• Consolidate • Sell on high
Resistance
•R2 - 193 •R1 - 185
Resistance
• R2 - 110.5 • R1 - 106.8
support
•S1 -175 •S2 -167
support
• S1 - 103.8 •S2 - 100.5
ZINC(AUG) Trend Strategy Resistance support
• Consolidate • Sell on high •R2 - 103.5 •R1 - 100.7 •S1 - 96.8 •S2 - 93.5
NICKEL(AUG) Trend Strategy
• Consolidate • Sell on high
Resistance
•R2 - 1013 •R1 - 977
support
•S1 - 938 •S2 - 905
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ALUMINIUM(AUG AUG) Trend Strategy
• Consolidate • Sell on high
Resistance
•R2 - 110.5 •R1 - 107.6
support
•S1 - 105.8 •S2 - 102.5
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