Daily Newsletter Newsletter-Commodity 06/06/2011
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MARKET WRAP Volatile Crude oil ends higher Dollar index, euro choppy amid Greece debt woes Gold jumps 1.5 pct on euro zone debt fears Silver ETF holdings drop over 2 pct LME aluminium inventories fall Gold steadied on Monday, holding on to gains made in the previous session after a sluggish U.S. employment report fueled fears of a slowdown in recovery of the world's biggest economy, while a softer dollar lent support. copper rose half a percent on buoyed by a softer dollar and expectations that the Federal Reserve will continue to supply liquidity to the market. U.S. crude futures headed higher as the dollar remained soft but gains were set to be limited after weak U.S. jobs data added to evidence of a marked economic slowdown. The U.S. dollar slid to a fresh one-month low against a basket of major currencies early in Asia finding no support after disappointing jobs data.
ECONOMIC CALENDAR Date
Time
Currency
Economic Data
Forecast Previous
Mon June 06
2:00pm
EUR
Sentix Investor Confidence
9.4
10.9
2:30pm
EUR
PPI m/m
0.80%
0.70%
6:00pm
CAD
Building Permits m/m
-2.30%
17.20%
7:30pm
CAD
Ivey PMI
59.1
57.7
8:00pm
CAD
Gov Council Member Macklem Speaks
-
-
10:45pm
USD
Treasury Sec Geithner Speaks
-
-
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TECHNICAL VIEW GOLD(AUG) Trend Strategy
• Consolidate • Buy on dips
SILVER(JULY JULY) Trend Strategy
• Consolidate • Buy on dips
Resistance
• R2 -22870 • R1 -22780
Resistance
• R2 - 56550 • R1 - 55550
support
• S1 -22510 • S2 -22400
support
• S1 - 53000 • S2 - 51900
COPPER(JUNE) Trend Strategy
• Consolidate • Buy on dips
CRUDE(JUNE JUNE) Trend Strategy
• Consolidate • Buy on dips
Resistance
• R2 - 425 • R1 - 416
Resistance
• R2 - 4840 • R1 - 4670
support
• S1 - 401 • S2 - 395
support
• S1 - 4380 • S2 - 4210
NATURALGAS(JUNE)) Trend Strategy
• Consolidate • Buy on dips
LEAD(JUNE JUNE) Trend Strategy
• Consolidate • Sell on high
Resistance
•R2 - 218 •R1 - 213
Resistance
• R2 - 115.5 • R1 - 112.4
support
•S1 - 208 •S2 - 204
support
• S1 - 108.5 •S2 - 106.8
ZINC(JUNE) Trend Strategy
• Consolidate • Buy on dips
NICKEL(JUNE JUNE) Trend Strategy
• Consolidate • Sell on high
Resistance
•R2 - 104.5 •R1 - 102.5
Resistance
•R2 - 1072 •R1 - 1054
support
•S1 - 99.6 •S2 - 98.1
support
•S1 - 1005 •S2 - 970
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info@capitalheight.com Phone- (0731)4295950
ALUMINIUM(JUNE) Trend Strategy
• Consolidate • Buy on dips
Resistance
•R2 - 120.5 •R1 - 118.9
support
•S1 - 116.7 •S2 - 113.5
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