Daily Newsletter Newsletter-Commodity 24/06/2011
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MARKET WRAP Gold tumbles 2 pct as dollar surges The euro fell 1.0 percent against the dollar U.S. jobless claims rise more than expected Oil dives to lowest since Feb Copper falls on dollar, growth concerns Gold was set for its biggest daily fall in over a month on Thursday after a surprisingly large rise in weekly U.S. jobless claims hit investor risk appetite, pummelling commodities and stocks and boosting the dollar. Copper fell on Thursday on a stronger dollar and concerns about demand in the United States after the Federal Reserve cut its forecasts for economic growth in the world's largest economy.
ECONOMIC CALENDAR Date
Time
Currency
Economic Data
Forecast Previous
Fri Jun 24
1:30pm
EUR
German Ifo Business Climate
113.6
114.2
1:30pm
EUR
Italian Retail Sales m/m
-0.1%
-0.2%
Day 2
EUR
EU Economic Summit
6:00pm
USD
Core Durable Goods Orders m/m
1.0%
-1.6%
6:00pm
USD
Durable Goods Orders m/m
1.6%
-3.6%
6:00pm
USD
Final GDP q/q
1.9%
1.8%
6:00pm
USD
Final GDP Price Index q/q
1.9%
1.9%
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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 - 22770 • R1 - 22550
Resistance
• R2 - 54800 • R1 - 53750
support
• S1 - 22280 • S2 - 22050
support
• S1 - 52250 • S2 - 50780
COPPER(JUNE) Trend Strategy
• Consolidate • Buy on dips
CRUDE(JULY) Trend Strategy
• Consolidate • Sell on high
Resistance
• R2 - 418 • R1 - 409
Resistance
• R2 - 4270 • R1 - 4180
support
• S1 - 399 • S2 - 391
support
• S1 - 4050 • S2 - 3970
NATURALGAS(JUNE) Trend Strategy
• Consolidate • Sell on high
LEAD(JUNE) Trend Strategy
• Consolidate • Sell on high
Resistance
•R2 - 203 •R1 - 196
Resistance
• R2 - 117.5 • R1 - 114.8
support
•S1 - 185 •S2 - 178
support
• S1 - 111.8 •S2 - 107.5
ZINC(JUNE) Trend Strategy
• Consolidate • Sell on high
NICKEL(JUNE JUNE) Trend Strategy
• Consolidate • Sell on high
Resistance
•R2 - 102.8 •R1 - 100.8
Resistance
•R2 - 1045 •R1 - 1017
support
•S1 - 98.3 •S2 - 95.8
support
•S1 - 977 •S2 - 945
www.capitalheight.com
info@capitalheight.com PhonePhone (0731)4295950
ALUMINIUM(JUNE) Trend Strategy
• Consolidate • Sell on high
Resistance
•R2 - 116.8 •R1 - 113.5
support
•S1 - 111.3 •S2 - 109.5
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