Daily Newsletter Newsletter-Commodity 18/08/2011
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MARKET WRAP Gold was set for a third daily rise on Wednesday The euro pared earlier losses Copper edges up on Asian buying Dollar falls against basket of currencies U.S. crude oil stocks rose unexpectedly last week Gold was set for a third daily rise on Wednesday, recovering from an earlier dip, due to investor unease over the lack of a clear solution to the euro zone debt crisis. Copper rose on Wednesday on buying interest from Asia and as the dollar weakened, but gains were limited as fears of a slower economic recovery, which may dent metals demand growth, dampened market sentiment. U.S. crude oil stocks rose unexpectedly last week, while gasoline inventories fell more than analysts had expected, the U.S. Energy Information Administration data showed on Wednesday.
ECONOMIC CALENDAR Date
Time
Currency
Economic Data
Forecast Previous
Thu Aug 18
6:00pm
USD
Core CPI m/m
0.2%
0.3%
6:00pm
USD
Unemployment Claims
402K
395K
6:00pm
USD
CPI m/m
0.2%
-0.2%
6:05pm
USD
FOMC Member Dudley Speaks
7:30pm
USD
Existing Home Sales
4.91M
4.77M
7:30pm
USD
Philly Fed Manufacturing Index
4.0
3.2
7:30pm
USD
CB Leading Index m/m
0.2%
0.3%
8:00pm
USD
Natural Gas Storage
49B
25B
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TECHNICAL VIEW GOLD(OCT) Trend Strategy
• Bullish • Buy on dips
SILVER(SEP SEP) Trend Strategy
• Consolidate • Buy on dips
Resistance
• R2 - 26700 • R1 - 26450
Resistance
• R2 - 61800 • R1 - 60700
support
• S1 - 25980 • S2 - 25530
support
• S1 - 58850 • S2 - 57200
COPPER(AUG)) Trend Strategy
• Consolidate • Sell on high
CRUDE(AUG AUG) Trend Strategy
• Consolidate • Buy on dips
Resistance
• R2 - 417 • R1 - 408
Resistance
• R2 - 4165 • R1 - 4050
support
• S1 - 397 • S2 - 385
support
• S1 - 3930 • S2 - 3850
NATURALGAS(AUG AUG) Trend Strategy
• Consolidate • Sell on high
LEAD(AUG AUG) Trend Strategy
• Consolidate • Sell on high
Resistance
•R2 - 195 •R1 - 187
Resistance
• R2 - 112.5 • R1 - 109.3
support
•S1 -175 •S2 -167
support
• S1 - 105.3 •S2 - 102.5
ZINC(AUG) Trend Strategy Resistance support
• Consolidate • Sell on high •R2 - 102.5 •R1 - 99.8 •S1 - 94.8 •S2 - 90.5
NICKEL(AUG) Trend Strategy
• Consolidate • Sell on high
Resistance
•R2 - 1033 •R1 - 997
support
•S1 - 938 •S2 - 905
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ALUMINIUM(AUG AUG) Trend Strategy
• Consolidate • Sell on high
Resistance
•R2 - 112.5 •R1 - 109.6
support
•S1 - 105.8 •S2 - 102.5
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