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Mtechtips Commodity Market News 1

Mtechtips Commodity Market News 1

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Published by MtechTips
MTECHTIPS COMMODITY MARKET NEWS 1

MTECHTIPS:-GLOBAL HAPPENINGS
The preliminary HSBC China Manufacturing Purchasing Managers Index, a gauge of nationwide manufacturing activity, fell to 50.4 in February, compared with a final reading of 52.3 in January. A reading above 50 indicates expansion from the previous month, while a reading below 50 indicates contraction. The decline in the index could renew concerns about growth in the world's second largest economy. Japan’s government is likely to nominate Asian Development Bank President Haruhiko Kuroda, an advocate of aggressive monetary easing, as its next central bank governor. The choice of Kuroda, who has long criticized the BOJ as too slow in expanding stimulus, will likely nudge the central bank into more aggressive, unorthodox measures to achieve its new 2 per cent inflation target set in January. Britain lost its top credit rating by Moody’s Investors Service, which cited weakness in the nation’s growth outlook and challenges to the government’s fiscal consolidation program. The rating on the U.K. was lowered one level to Aa1 from Aaa and the outlook on the nation’s debt changed to stable from negative.

MTECHTIPS:-GOLD
Gold ticked lower on Monday, with investors cautious over the outcome of an unpredictable election in Italy and its impact on the euro, but bullion held above a 7-month low struck last week.Hedge funds and other big speculators cut their bullish bets on U.S. commodities by the most in nearly 10 months. Gold SPDR’s, the world’s largest gold backed ETF holdings remained unchanged at 1280 tons as on Friday. Outlook: Gold is expected to trade with slight positive bias and later it is expected to take cues from Italy elections which is crucial and US dollar index.

MTECHTIPS:-SILVER
Silver expected to be in range bound recovering, as lackluster U.S. data bolstered expectations that the Federal Reserve's monetary stimulus would stay in place. Earlier the silver had a hit on growth concerns after by concerns the U.S. Federal Reserve could scale back its monetary stimulus. Ishares silver trust, the world’s largest silver backed ETF holding remained unchanged at 10602 tons as on Friday. Outlook : Silver prices are expected to trade with positive bias and later it is expected to take cues from Italy elections which is crucial and US dollar index.

MTECHTIPS:-CRUDEOIL
U.S. crude futures steadied above $93 a barrel on Monday, after falling to six-week lows in the prior session as investors worried about how long the U.S. central bank can provide stimulus to support the world's top economy and oil consumer. China HSBC PMI came in below expectations, however it was above the key expansion levels. The index hit a two-year high of 52.3 in January as domestic demand strengthened, underlining hopes the nation's economic recovery is slowly gaining momentum. Outlook: Crude is expected to expected to trade with positive bias and later take cues from China manufacturing PMI and Italy elections.

MTECHTIPS:-COPPER
Copper slipped to its lowest level in two months over this weekend and showed its biggest weekly loss in 14 months on concerns about the global economy and the demand for industrial metals.Three month copper on the LME closed at $7,805 a Tonne on Friday, down from $7,860 at the close on Thursday. It earlier fell to its lowest level since December 21, at $7,796. OUTLOOK: Copper is expected to trade with negative bias after China PMI which came in below market expectations and later take cues from Italy elections results.




WWW.MTECHTIPS.COM
07489294118-119
MTECHTIPS COMMODITY MARKET NEWS 1

MTECHTIPS:-GLOBAL HAPPENINGS
The preliminary HSBC China Manufacturing Purchasing Managers Index, a gauge of nationwide manufacturing activity, fell to 50.4 in February, compared with a final reading of 52.3 in January. A reading above 50 indicates expansion from the previous month, while a reading below 50 indicates contraction. The decline in the index could renew concerns about growth in the world's second largest economy. Japan’s government is likely to nominate Asian Development Bank President Haruhiko Kuroda, an advocate of aggressive monetary easing, as its next central bank governor. The choice of Kuroda, who has long criticized the BOJ as too slow in expanding stimulus, will likely nudge the central bank into more aggressive, unorthodox measures to achieve its new 2 per cent inflation target set in January. Britain lost its top credit rating by Moody’s Investors Service, which cited weakness in the nation’s growth outlook and challenges to the government’s fiscal consolidation program. The rating on the U.K. was lowered one level to Aa1 from Aaa and the outlook on the nation’s debt changed to stable from negative.

MTECHTIPS:-GOLD
Gold ticked lower on Monday, with investors cautious over the outcome of an unpredictable election in Italy and its impact on the euro, but bullion held above a 7-month low struck last week.Hedge funds and other big speculators cut their bullish bets on U.S. commodities by the most in nearly 10 months. Gold SPDR’s, the world’s largest gold backed ETF holdings remained unchanged at 1280 tons as on Friday. Outlook: Gold is expected to trade with slight positive bias and later it is expected to take cues from Italy elections which is crucial and US dollar index.

MTECHTIPS:-SILVER
Silver expected to be in range bound recovering, as lackluster U.S. data bolstered expectations that the Federal Reserve's monetary stimulus would stay in place. Earlier the silver had a hit on growth concerns after by concerns the U.S. Federal Reserve could scale back its monetary stimulus. Ishares silver trust, the world’s largest silver backed ETF holding remained unchanged at 10602 tons as on Friday. Outlook : Silver prices are expected to trade with positive bias and later it is expected to take cues from Italy elections which is crucial and US dollar index.

MTECHTIPS:-CRUDEOIL
U.S. crude futures steadied above $93 a barrel on Monday, after falling to six-week lows in the prior session as investors worried about how long the U.S. central bank can provide stimulus to support the world's top economy and oil consumer. China HSBC PMI came in below expectations, however it was above the key expansion levels. The index hit a two-year high of 52.3 in January as domestic demand strengthened, underlining hopes the nation's economic recovery is slowly gaining momentum. Outlook: Crude is expected to expected to trade with positive bias and later take cues from China manufacturing PMI and Italy elections.

MTECHTIPS:-COPPER
Copper slipped to its lowest level in two months over this weekend and showed its biggest weekly loss in 14 months on concerns about the global economy and the demand for industrial metals.Three month copper on the LME closed at $7,805 a Tonne on Friday, down from $7,860 at the close on Thursday. It earlier fell to its lowest level since December 21, at $7,796. OUTLOOK: Copper is expected to trade with negative bias after China PMI which came in below market expectations and later take cues from Italy elections results.




WWW.MTECHTIPS.COM
07489294118-119

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Published by: MtechTips on Feb 25, 2013
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02/25/2013

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MTECHTIPS COMMODITY MARKET NEWS 1
MTECHTIPS:-GLOBAL HAPPENINGS
 
The preliminary HSBC China Manufacturing Purchasing Managers Index, agauge of nationwide manufacturing activity, fell to 50.4 in February, comparedwith a final reading of 52.3 in January. A reading above 50 indicates expansionfrom the previous month, while a reading below 50 indicates contraction. Thedecline in the index could renew concerns about growth in the world's secondlargest
economy. Japan’s
government is likely to nominate Asian DevelopmentBank President Haruhiko Kuroda, an advocate of aggressive monetary easing, asits next central bank governor. The choice of Kuroda, who has long criticized theBOJ as too slow in expanding stimulus, will likely nudge the central bank intomore aggressive, unorthodox measures to achieve its new 2 per cent inflationtarget set in January. Britain lost its top credit r
ating by Moody’s InvestorsService, which cited weakness in the nation’s growth outlook and challenges tothe government’s fiscal consolidation program. The rating on the U.K. waslowered one level to Aa1 from Aaa and the outlook on the nation’s debt chang
edto stable from negative.MTECHTIPS:-GOLD
 
Gold ticked lower on Monday, with investors cautious over the outcome of anunpredictable election in Italy and its impact on the euro, but bullion held abovea 7-month low struck last week.Hedge funds and other big speculators cut theirbullish bets on U.S. commodities by the most in
nearly 10 months. Gold SPDR’s,the world’s largest gold backed ETF holdings remained unchanged at 1280 tons
as on Friday. Outlook: Gold is expected to trade with slight positive bias andlater it is expected to take cues from Italy elections which is crucial and US dollarindex.MTECHTIPS:-SILVER 
 
Silver expected to be in range bound recovering, as lackluster U.S. databolstered expectations that the Federal Reserve's monetary stimulus would stay
 
in place. Earlier the silver had a hit on growth concerns after by concerns theU.S. Federal Reserve could scale back its monetary stimulus. Ishares silver trust,
the world’s largest silver backed ETF holding remained unchanged at 10602
tonsas on Friday. Outlook : Silver prices are expected to trade with positive biasand later it is expected to take cues from Italy elections which is crucial and USdollar index.MTECHTIPS:-CRUDEOIL
 
U.S. crude futures steadied above $93 a barrel on Monday, after falling to six-week lows in the prior session as investors worried about how long the U.S.central bank can provide stimulus to support the world's top economy and oilconsumer. China HSBC PMI came in below expectations, however it was abovethe key expansion levels. The index hit a two-year high of 52.3 in January asdomestic demand strengthened, underlining hopes the nation's economicrecovery is slowly gaining momentum. Outlook: Crude is expected to expected totrade with positive bias and later take cues from China manufacturing PMIand Italy elections.MTECHTIPS:-COPPER 
 
Copper slipped to its lowest level in two months over this weekend and showedits biggest weekly loss in 14 months on concerns about the global economy andthe demand for industrial metals.Three month copper on the LME closed at

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