Daily Newsletter Newsletter-Commodity 31/05/2011
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MARKET WRAP The dollar hovered near a two-week low against a basket of currencies Gold steady on Greece debt fear Brent crude oil fell below $115 a barrel on Monday Silver rose as much as 1.3 percent to $38.36 Gold held steady on Monday, buoyed by the ongoing debt crisis in the euro zone, while silver trimmed gains as a hike in margins by the Shanghai Gold Exchange kept sentiment in check. Shanghai copper fell on Monday on technicals, European debt problems and uncertainty about the monetary policies of the United States and China, on track for a 1 percent loss in May.
ECONOMIC CALENDAR Date
Time
Currency
Economic Data
Forecast Previous
Tue 11:30am May 31 12:15pm
EUR
German Retail Sales m/m
1.7%
-2.7%
EUR
French Consumer Spending m/m
-0.3%
-0.7%
1:25pm
EUR
German Unemployment Change
-31K
-37K
1:30pm
EUR
8.3%
8.3%
2:30pm
EUR
Italian Monthly Unemployment Rate CPI Flash Estimate y/y
2.8%
2.8%
2:30pm
EUR
Unemployment Rate
9.9%
9.9%
2:30pm
EUR
Italian Prelim CPI m/m
0.2%
0.5%
6:30pm
USD
S&P/CS Composite-20 HPI y/y
-3.5%
-3.3%
7:15pm
USD
Chicago PMI
64.2
67.6
7:30pm
USD
CB Consumer Confidence
66.2
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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 -22930 • R1 -22680
Resistance
• R2 - 59500 • R1 - 58450
support
• S1 - 22380 • S2 - 22050
support
• S1 - 56350 • S2 - 54900
COPPER(JUNE) Trend Strategy
• Consolidate • Buy on dips
CRUDE(JUNE)) Trend Strategy
• Consolidate • Buy on dips
Resistance
• R2 - 431 • R1 - 423
Resistance
• R2 - 4710 • R1 - 4625
support
• S1 - 409 • S2 - 398
support
• S1 - 4510 • S2 - 4430
NATURALGAS(JUNE) Trend Strategy
• Consolidate • Buy on dips
LEAD(MAY) Trend Strategy
• Consolidate • Buy on dips
Resistance
•R2 - 217 •R1 - 209
Resistance
• R2 - 119.5 • R1 - 115.8
support
•S1 - 203 •S2 - 195
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 • Buy on dips
Resistance
•R2 - 121.5 •R1 - 119.3
support
•S1 - 116.7 •S2 - 113.5
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