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Daily Newsletter Newsletter-Commodity 02/09/2010

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MARKET WRAP Oil rose more than 3 percent to above $74 Copper hit its highest in more than four months U.S. manufacturing data pushes base metals higher Aluminium stocks in LME warehouses have also been falling U.S. crude stocks rose 3.43 million barrels

Oil rose more than 3 percent to above $74 a barrel on Wednesday after strong U.S. and Chinese data soothed investor concerns over the pace of economic recovery in the world's top two energy consumers. Gold eased on Wednesday after better-thanexpected U.S. manufacturing data lifted appetite for stocks and other assets seen as higher risk after earlier hitting two-month highs amid concerns over economic recovery.

ECONOMIC CALENDAR Date

Time

Currency

Economic Data

Forecast Previous

Thu 6:00pm Sep 2 6:00pm

USD

Unemployment Claims

476K

473K

USD

Revised Nonfarm Productivity q/q

-1.9%

-0.9%

6:00pm

USD

Revised Unit Labor Costs q/q

1.3%

0.2%

6:30pm

USD

Fed Chairman Bernanke Testifies

7:30pm

USD

Pending Home Sales m/m

-1.3%

-2.6%

7:30pm

USD

Factory Orders m/m

0.4%

-1.2%

8:00pm

USD

Natural Gas Storage

56B

40B

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TECHNICAL VIEW GOLD(OCT) Trend Strategy

• Bullish • Buy on dips

SILVER(DEC DEC) Trend Strategy

• Bullish • Buy on dips

Resistance

• R2 -19420 • R1 -19170

Resistance

• R2 - 31680 • R1 - 31000

support

• S1 -18930 • S2 -18750

support

• S1 - 30250 • S2 - 29580

COPPER(NOV) Trend Strategy

• Bullish • Buy on dips

CRUDE(SEP)) Trend Strategy

• Consolidate • Sell on high

Resistance

• R2 - 367 • R1 - 359

Resistance

• R2 - 3610 • R1 - 3530

support

• S1 - 352 • S2 - 345

support

• S1 - 3410 • S2 - 3330

NATURALGAS(SEP) Trend Strategy

• Consolidate • Sell on higher

LEAD(SEP) Trend Strategy

• Consolidate • Buy on dips

Resistance

•R2 - 193 •R1 - 185

Resistance

• R2 - 102.8 • R1 - 100.2

support

•S1 - 176 •S2 - 167

support

• S1 - 98.3 •S2 - 95.5

ZINC(SEP) Trend Strategy

• Consolidate • Buy on dips

NICKEL(SEP) NICKEL(SEP Trend Strategy

• Consolidate • Sell on high

Resistance

•R2 - 103.7 •R1 - 101.2

Resistance

•R2 - 1055 •R1 - 1012

support

•S1 - 99.3 •S2 - 96.4

support

•S1 - 975 •S2 - 933

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ALUMINIUM(SEP) Trend Strategy

• Consolidate • Sell on higher

Resistance

•R2 - 101.5 •R1 - 99.5

support

•S1 - 96.8 •S2 - 94.5

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