Daily Newsletter Newsletter-Commodity 27/05/2011
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MARKET WRAP U.S. crude extends losses on economic growth worries Gold eases as Greek debt worries dent euro The euro fell back from the day's highs Copper eases on demand, LME copper inventories down Oil fell back on Thursday as disappointing U.S. economic data and renewed euro-zone debt worries stoked fresh oil demand concerns. Gold fell on Thursday, led by a fall in euro-priced bullion and after the single European currency came under sudden pressure, but concern about the euro zone debt crisis was expected kept metal prices supported. Copper eased on Thursday amid lingering concerns over weaker Chinese demand, disappointing U.S. economic data and as Greek fiscal woes weakened the euro.
ECONOMIC CALENDAR Date
Time
Currency
Economic Data
Forecast Previous
Fri May 27
All Day
EUR
German Prelim CPI m/m
0.1%
0.2%
1:30pm
EUR
M3 Money Supply y/y
2.5%
2.3%
1:30pm
EUR
Private Loans y/y
2.7%
2.5%
6:00pm
USD
Core PCE Price Index m/m
0.2%
0.1%
6:00pm
USD
Personal Spending m/m
0.5%
0.6%
6:00pm
USD
Personal Income m/m
0.4%
0.5%
7:25pm
USD
72.5
72.4
7:25pm
USD
7:30pm
USD
Revised UoM Consumer Sentiment Revised UoM Inflation Expectations Pending Home Sales m/m
4.4% -0.9%
5.1%
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TECHNICAL VIEW GOLD(JUNE) Trend Strategy
• Consolidate • Buy on dips
SILVER(JULY JULY) Trend Strategy
• Consolidate • Buy on dips
Resistance
• R2 -22850 • R1 -22580
Resistance
• R2 - 59500 • R1 - 57450
support
• S1 - 22280 • S2 - 22050
support
• S1 - 55850 • S2 - 54600
COPPER(JUNE) Trend Strategy
• Consolidate • Buy on dips
CRUDE(JUNE)) Trend Strategy
• Consolidate • Buy on dips
Resistance
• R2 - 425 • R1 - 416
Resistance
• R2 - 4710 • R1 - 4635
support
• S1 - 406 • S2 - 397
support
• S1 - 4530 • S2 - 4450
NATURALGAS(JUNE) Trend Strategy
• Consolidate • Sell on high
LEAD(MAY) Trend Strategy
• Consolidate • Buy on dips
Resistance
•R2 - 211 •R1 - 203
Resistance
• R2 - 119.5 • R1 - 115.8
support
•S1 - 191 •S2 - 183
support
• S1 - 112.3 •S2 - 109.5
ZINC(MAY) Trend Strategy
• Consolidate • Buy on dips
NICKEL(MAY MAY) Trend Strategy
• Consolidate • Sell on high
Resistance
•R2 - 105.5 •R1 - 102.8
Resistance
•R2 - 1115 •R1 - 1067
support
•S1 - 99.2 •S2 - 96.5
support
•S1 - 1023 •S2 - 1005
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info@capitalheight.com PhonePhone (0731)4295950
ALUMINIUM(MAY) Trend Strategy
• Consolidate • Sell on high
Resistance
•R2 - 118.5 •R1 - 116.8
support
•S1 - 114.7 •S2 - 112.5
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