Daily Newsletter-Commodity 14/10/2011
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MARKET WRAP Gold falls with equities Brent snaps 6-day rally, China's imports drop U.S. crude inventory up more than forecast Silver slides almost 3% on Thursday Nickel slides almost 3% Gold fell on Thursday, hitting a stiff headwind from a stronger dollar, after U.S. data signalled a slight improvement in the jobs market, although investor nerves over the euro zone were ultimately expected to support the bullion price. Oil slipped on Thursday, with Brent snapping a six-day rally, after trade data from China pointed to slower demand and equity markets fell.
ECONOMIC CALENDAR Date
Time
Currency
Economic Data
Fri Oct 14
1:30pm
EUR
Italian Trade Balance
Day 1
ALL
G20 Meetings
2:30pm
EUR
2:30pm
Forecast Previous 0.74B
1.44B
CPI y/y
3.0%
3.0%
EUR
Core CPI y/y
1.5%
1.2%
2:30pm
EUR
Trade Balance
-1.1B
-2.5B
6:00pm
USD
Core Retail Sales m/m
0.2%
0.1%
6:00pm
USD
Retail Sales m/m
0.5%
0.0%
6:00pm
USD
Import Prices m/m
-0.3%
-0.4%
7:25pm
USD
Prelim UoM Consumer Sentiment
60.2
59.4
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TECHNICAL VIEW GOLD(DEC) Trend Strategy
• Consolidate • Buy on dips
SILVER(DEC) Trend Strategy
• Consolidate • Buy on dips
Resistance
• R2 - 27250 • R1 - 26980
Resistance
• R2 - 55850 • R1 - 54570
support
• S1 - 26550 • S2 - 26180
support
• S1 - 52150 • S2 - 50400
COPPER(NOV) Trend Strategy
• Consolidate • Buy on dips
CRUDE(OCT) Trend Strategy
• Consolidate • Buy on dips
Resistance
• R2 - 383 • R1 - 371
Resistance
• R2 - 4315 • R1 - 4210
support
• S1 - 358 • S2 - 347
support
• S1 - 4080 • S2 - 4015
NATURALGAS(OCT) Trend Strategy
• Consolidate • Sell on high
LEAD(OCT) Trend
Strategy
• Consolidate • Sell on high
Resistance
•R2 - 188 •R1 - 181
Resistance
• R2 - 103.5 • R1 - 100.6
support
•S1 -168 •S2 -161
support
• S1 - 97.3 •S2 - 94.5
ZINC(OCT) Trend Strategy
• Consolidate • Sell on high
NICKEL(OCT) Trend Strategy
• Consolidate • Sell on high
Resistance
•R2 - 99.5 •R1 - 96.3
Resistance
•R2 - 963 •R1 - 928
support
•S1 - 92.8 •S2 - 88.2
support
•S1 - 887 •S2 - 863
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ALUMINIUM(OCT) Trend Strategy
• Consolidate • Sell on high
Resistance
•R2 - 110.5 •R1 - 108.9
support
•S1 - 106.8 •S2 - 104.5
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