Daily Newsletter Newsletter-Commodity 08/07/2011
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MARKET WRAP Gold prices held just below $1,530 an ounce on Thursday European Central Bank lifts rates by 25 bps The euro pared losses against the dollar U.S. new jobless claims fell last week U.S. crude stocks down less than expected Zinc stocks at highest in 16 years Copper hits 3-month high, demand hopes boost Gold prices held just below $1,530 an ounce on Thursday after the European Central Bank signalled it would continue to raise rates and offered to help Portugal stay solvent. Brent futures surged nearly $4 on Thursday, lifted by a bigger-than-expected fall in U.S. weekly jobless claims and crude stock draws. Copper rose on Thursday to its highest in nearly three months as expectations of increasing demand from top consumer China and upbeat employment data from the United States.
ECONOMIC CALENDAR Date
Time
Currency
Economic Data
Forecast Previous
Fri Jul 8
11:30am
EUR
German Trade Balance
12:15pm
EUR
French Gov Budget Balance
1:30pm
EUR
Italian Industrial Production m/m
-0.2%
1.0%
6:00pm
USD
Non-Farm Employment Change
88K
54K
6:00pm
USD
Unemployment Rate
9.1%
9.1%
6:00pm
USD
Average Hourly Earnings m/m
0.2%
0.3%
7:30pm
USD
Wholesale Inventories m/m
0.6%
0.8%
12.8B
12.0B -61.4B
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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 - 53580 • S2 - 52300
COPPER(AUG)) Trend Strategy
• Consolidate • Buy on dips
CRUDE(JULY JULY) Trend Strategy
• Consolidate • Buy on dips
Resistance
• R2 - 447 • R1 - 439
Resistance
• R2 - 4485 • R1 - 4410
support
• S1 - 427 • S2 - 419
support
• S1 - 4270 • S2 - 4170
NATURALGAS(JULY JULY) Trend Strategy
• Consolidate • Sell on high
LEAD(JULY JULY) Trend Strategy
• Consolidate • Buy on dips
Resistance
•R2 - 197 •R1 - 189
Resistance
• R2 - 124.2 • R1 - 121.3
support
•S1 - 181 •S2 - 172
support
• S1 - 118.8 •S2 - 115.5
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 - 1115 •R1 - 1078
support
•S1 - 104.9 •S2 - 101.3
support
•S1 - 1034 •S2 - 1015
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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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