Daily Newsletter Newsletter-Commodity 03/08/2011
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MARKET WRAP Gold surged more than 1 percent to all-time highs U.S. consumer spending slipped 0.2 percent in June Oil falls as market worries over economy Copper inched up on Tuesday Gold surged more than 1 percent to all-time highs on Tuesday, as more weak U.S. economic data fueled safe-haven buying on fears a slow economy may trigger more monetary stimulus by the Federal Reserve. Oil prices fell on Tuesday as increasing concerns about slowing economic growth provided pressure even as a debt-limit deal in the United States was being finalized in Washington. Copper inched up on Tuesday as supply worries fuelled by a strike at the world's biggest copper mine offset concerns about demand growth.
ECONOMIC CALENDAR Date
Time
Currency
Economic Data
Forecast Previous
Wed Aug 3
1:30pm
EUR
Final Services PMI
51.4
51.4
2:30pm
EUR
Retail Sales m/m
0.5%
-1.1%
5:00pm
USD
Challenger Job Cuts y/y
5:45pm
USD
ADP Non-Farm Employment Change
101K
157K
7:30pm
USD
ISM Non-Manufacturing PMI
53.8
53.3
7:30pm
USD
Factory Orders m/m
-0.4%
0.8%
8:00pm
USD
Crude Oil Inventories
1.3M
2.3M
5.3%
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TECHNICAL VIEW GOLD(OCT) Trend Strategy
• Consolidate • Buy on dips
SILVER(SEP SEP) Trend Strategy
• Consolidate • Buy on dips
Resistance
• R2 - 24150 • R1 - 23870
Resistance
• R2 - 61200 • R1 - 59550
support
• S1 - 23580 • S2 - 23250
support
• S1 - 58170 • S2 - 57300
COPPER(AUG)) Trend Strategy
• Consolidate • Buy on dips
CRUDE(AUG AUG) Trend Strategy
• Consolidate • Sell on high
Resistance
• R2 - 443 • R1 - 436
Resistance
• R2 - 4345 • R1 - 4260
support
• S1 - 427 • S2 - 419
support
• S1 - 4130 • S2 - 4050
NATURALGAS(AUG AUG) Trend Strategy
• Consolidate • Sell on high
LEAD(AUG AUG) Trend Strategy
• Consolidate • Sell on high
Resistance
•R2 - 201 •R1 - 193
Resistance
• R2 - 119.8 • R1 - 116.2
support
•S1 -181 •S2 -173
support
• S1 - 113.3 •S2 - 110.5
ZINC(AUG) Trend Strategy
• Consolidate • Buy on dips
NICKEL(AUG) Trend Strategy
• Consolidate • Buy on dips
Resistance
•R2 - 113.5 •R1 - 110.6
Resistance
•R2 - 1155 •R1 - 1113
support
•S1 - 106.7 •S2 - 104.5
support
•S1 - 1083 •S2 - 1055
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info@capitalheight.com PhonePhone (0731)4295950
ALUMINIUM(AUG AUG) Trend Strategy
• Consolidate • Buy on dips
Resistance
•R2 - 118.5 •R1 - 115.7
support
•S1 - 113.3 •S2 - 110.8
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