Daily Newsletter Newsletter-Commodity 10/06/2011
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MARKET WRAP Gold prices firmed to session highs near $1,545 U.S. crude oil rose in choppy trade on Thursday ECB signals rate hike next month Dollar was up against euro Copper ended almost flat on Thursday U.S. jobless claims had risen unexpectedly U.S. crude oil rose in choppy trade on Thursday on concerns about supply as investors assessed the impact of OPEC's failure to agree on a rise in output targets which threw a spotlight on supply concerns. Copper was softer on Thursday as traders fretted about further signs of U.S. economic weakness, but prices were buttressed by expectations of higher demand from top consumer China. Gold prices firmed to session highs near $1,540 an ounce on Thursday after the European Central Bank signalled a euro zone rate hike is on the cards for July, as expected.
ECONOMIC CALENDAR Date
Time
Currency
Economic Data
Forecast Previous
Fri 11:30am Jun 10 11:30am
EUR
German Final CPI m/m
0.0%
0.0%
EUR
German WPI m/m
0.5%
0.2%
12:15pm
EUR
French Industrial Production m/m
0.4%
-0.9%
6:00pm
USD
Import Prices m/m
-0.6%
2.2%
11:30pm
USD
Federal Budget Balance
-157.6B
-40.5B
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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 -22880 • R1 -22690
Resistance
• R2 - 57800 • R1 - 56650
support
• S1 - 22450 • S2 - 22180
support
• S1 - 54650 • S2 - 53500
COPPER(JUNE) Trend Strategy
• Consolidate • Buy on dips
CRUDE(JUNE)) Trend Strategy
• Consolidate • Buy on dips
Resistance
• R2 - 421 • R1 - 413
Resistance
• R2 - 4650 • R1 - 4580
support
• S1 - 401 • S2 - 393
support
• S1 - 4480 • S2 - 4410
NATURALGAS(JUNE) Trend Strategy
• Consolidate • Buy on dips
LEAD(JUNE) Trend Strategy
• Consolidate • Buy on dips
Resistance
•R2 - 225 •R1 - 219
Resistance
• R2 - 119.5 • R1 - 116.8
support
•S1 - 207 •S2 - 198
support
• S1 - 113.5 •S2 - 109.8
ZINC(JUNE) Trend Strategy
• Consolidate • Buy on dips
NICKEL(JUNE JUNE) Trend Strategy
• Consolidate • Sell on high
Resistance
•R2 - 106.5 •R1 - 103.4
Resistance
•R2 - 1072 •R1 - 1047
support
•S1 - 99.7 •S2 - 97.5
support
•S1 - 1014 •S2 - 983
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info@capitalheight.com PhonePhone (0731)4295950
ALUMINIUM(JUNE) Trend Strategy
• Consolidate • Buy on dips
Resistance
•R2 - 122.5 •R1 - 119.5
support
•S1 - 117.7 •S2 - 113.5
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