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Daily Newsletter Newsletter-Commodity 29/04/2011

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MARKET WRAP Copper trims gains after U.S. GDP U.S. first-quarter growth slows to 1.8 pct U.S. jobless claims unexpectedly rise Aluminium at almost 3-year highs Silver hits record near $50, first time since 1980

Copper trimmed its gains on Thursday after data showed U.S. economic growth slowed more than expected in the first quarter and jobless claims unexpectedly rose, but a weaker dollar put the brakes on further losses. Silver soared to an all-time high on Thursday and gold rose to another record. Crude oil prices turned lower on Thursday in volatile trade after rising more than $1 a barrel, as lift from a weak dollar gave way to worries about the oil demand outlook.

ECONOMIC CALENDAR Date

Time

Currency

Economic Data

Forecast Previous

Fri Apr 29

6:00pm

USD

Core PCE Price Index m/m

0.1%

0.2%

6:00pm

USD

Employment Cost Index q/q

0.5%

0.4%

6:00pm

USD

Personal Spending m/m

0.6%

0.7%

6:00pm

USD

Personal Income m/m

0.3%

0.3%

7:15pm

USD

Chicago PMI

68.7

70.6

7:25pm

USD

70.0

69.6

7:25pm

USD

10:00pm

USD

Revised UoM Consumer Sentiment Revised UoM Inflation Expectations Fed Chairman Bernanke Speaks

4.6%

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TECHNICAL VIEW GOLD(JUNE) Trend Strategy

• Bullish • Buy on dips

SILVER(MAY MAY) Trend Strategy

• Bullish • Buy on dips

Resistance

• R2 -22580 • R1 -22370

Resistance

• R2 - 74500 • R1 - 72950

support

• S1 -22180 • S2 -21950

support

• S1 - 70200 • S2 - 68650

COPPER(APR) Trend Strategy

• Consolidate • Buy on dips

CRUDE(MAY MAY) Trend Strategy

• Bullish • Buy on dips

Resistance

• R2 - 435 • R1 - 423

Resistance

• R2 - 5170 • R1 - 5090

support

• S1 - 411 • S2 - 402

support

• S1 - 4955 • S2 - 4880

NATURALGAS(MAY)) Trend Strategy

• Consolidate • Buy on dips

LEAD(MAY MAY) Trend Strategy

• Consolidate • Buy on dips

Resistance

•R2 - 218 •R1 - 211

Resistance

• R2 - 117.5 • R1 - 114.7

support

•S1 - 197 •S2 - 189

support

• S1 - 110.8 •S2 - 108.5

ZINC(MAY) Trend Strategy

• Consolidate • Sell on high

NICKEL(MAY MAY) Trend Strategy

• Consolidate • Buy on dips

Resistance

•R2 - 105.8 •R1 - 102.5

Resistance

•R2 - 1248 •R1 - 1217

support

•S1 - 98.7 •S2 - 95.5

support

•S1 - 1183 •S2 - 1148

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ALUMINIUM(MAY) Trend Strategy

• Consolidate • Buy on dips

Resistance

•R2 - 125.7 •R1 - 123.8

support

•S1 - 121.3 •S2 - 119.5

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