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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:-MCX Gold sideways to positive; resistance 27300
MCX Gold futures are trading sideways to positive for the day and intra-day traders may use buy on dips strategy “The commodity has important support at 26950 and resistance at 27300 for the day. One can enter into buying position near 26050 with stop loss of 26950 for the target near 27300.However, certain data releases hold the key to the futures movement with opinions varying. Later into the day by around 05.30 PM IST, Bank of England would announce its QE Total as well as interest rate decision.“The odds favour the Bank of England continuing to hold off from more stimulus on Thursday," said IHS Global Insight economist Howard Archer who was quoted by the AFP as saying."GDP growth of 0.3-percent quarter-on-quarter in the first quarter and an improved set of purchasing managers' surveys for April has eased pressure on the Bank of England for immediate further action to support the economy,” he added. A similar decision is expected when it comes to interest rate decisions as well."The first hurdle you have to get over is that you have to persuade the MPC (Monetary Policy Committee) that there needs to be more loosening anyway," said Simon Hayes, an economist at Barclays Capital to Reuters."For me, that is the biggest impediment to anything more interesting on the policy front," he added.With the US economy on a firm footing and non-farm pay rolls rising as per the latest data, chances galore that this time too the number of people who have applied for unemployment insurance would drop.
MTECHTIPS:-Live another day: Gold can bounce back by 2014-end riding hyperinflation
November 28, 2012 Wednesday: Gold for February delivery on the Comex shed weight, $26 dollars to be precise, as the session came to a close and settled at $1,718.80 an ounce. Spot gold, on the same day quoted down $25.20 at $1,717.25. Silver shed 1% and was seen at $33.725 an ounce. From there, gold prices began to chart a downhill registering incremental losses. April 12, 2013; Friday: With investors moving money out of gold and silver, the futures tumbled at a breathtaking speed on Friday night. Gold futures for delivery on June 13 closed at $1482.65 registering a loss of $82.25 or 5.26%. Silver for delivery on May 13 closed at $25.915 a loss of $1.782 or 6.43%.The objective of this article is not to exhume the past. But it is worthwhile to think what took gold prices to astronomical heights way back in 2011 to $1900 levels and from where it fell miserably.Clearly, it was some QE frenzy that caused the rise! Quantitative Easing, in effect money printing, became a hit with central bankers around the world to such an extent that it led to bubble formations across various asset classes; especially commodities and real-estate. The easy money received by financial institutions were parked in asset classes like
MTECHTIPS:-MCX Natural Gas negative; US inventory data awaited
Natural Gas futures for May delivery on India's Multi Commodity Exchange (MCX) is negative. Traders are awaiting US inventory data which is scheduled to be released later today. Expected data is negative for the commodity prices.“For intra-day, support for the commodity is seen at 210 while 215 and 217.5 are the resistances.“Prices may continue their downward movement, if the inventory data is in expected lines. Traders can enter into short sell around 214.5 with the stop loss of 217.5 for target 211,”MCX natural gas futures for May delivery was seen trading down by 0.37% at Rs.213.60 per mmBtu as of 03.25 PM IST on Thursday.US Energy Information Administration (EIA) is scheduled to release its data on natural gas stock-piles at 08.00 PM IST.Traders and analysts are expecting above average natural gas stock-piles (gain of 83 billion cubic feet), according to Reuters analysis. Higher stock-piles in United States are putting pressure on the commodity movement in the global market. Also, expectations o
MTECHTIPS COMMODITY MARKET NEWS 1
MTECHTIPS:-MCX Gold sideways to positive; resistance 27300
MCX Gold futures are trading sideways to positive for the day and intra-day traders may use buy on dips strategy “The commodity has important support at 26950 and resistance at 27300 for the day. One can enter into buying position near 26050 with stop loss of 26950 for the target near 27300.However, certain data releases hold the key to the futures movement with opinions varying. Later into the day by around 05.30 PM IST, Bank of England would announce its QE Total as well as interest rate decision.“The odds favour the Bank of England continuing to hold off from more stimulus on Thursday," said IHS Global Insight economist Howard Archer who was quoted by the AFP as saying."GDP growth of 0.3-percent quarter-on-quarter in the first quarter and an improved set of purchasing managers' surveys for April has eased pressure on the Bank of England for immediate further action to support the economy,” he added. A similar decision is expected when it comes to interest rate decisions as well."The first hurdle you have to get over is that you have to persuade the MPC (Monetary Policy Committee) that there needs to be more loosening anyway," said Simon Hayes, an economist at Barclays Capital to Reuters."For me, that is the biggest impediment to anything more interesting on the policy front," he added.With the US economy on a firm footing and non-farm pay rolls rising as per the latest data, chances galore that this time too the number of people who have applied for unemployment insurance would drop.
MTECHTIPS:-Live another day: Gold can bounce back by 2014-end riding hyperinflation
November 28, 2012 Wednesday: Gold for February delivery on the Comex shed weight, $26 dollars to be precise, as the session came to a close and settled at $1,718.80 an ounce. Spot gold, on the same day quoted down $25.20 at $1,717.25. Silver shed 1% and was seen at $33.725 an ounce. From there, gold prices began to chart a downhill registering incremental losses. April 12, 2013; Friday: With investors moving money out of gold and silver, the futures tumbled at a breathtaking speed on Friday night. Gold futures for delivery on June 13 closed at $1482.65 registering a loss of $82.25 or 5.26%. Silver for delivery on May 13 closed at $25.915 a loss of $1.782 or 6.43%.The objective of this article is not to exhume the past. But it is worthwhile to think what took gold prices to astronomical heights way back in 2011 to $1900 levels and from where it fell miserably.Clearly, it was some QE frenzy that caused the rise! Quantitative Easing, in effect money printing, became a hit with central bankers around the world to such an extent that it led to bubble formations across various asset classes; especially commodities and real-estate. The easy money received by financial institutions were parked in asset classes like
MTECHTIPS:-MCX Natural Gas negative; US inventory data awaited
Natural Gas futures for May delivery on India's Multi Commodity Exchange (MCX) is negative. Traders are awaiting US inventory data which is scheduled to be released later today. Expected data is negative for the commodity prices.“For intra-day, support for the commodity is seen at 210 while 215 and 217.5 are the resistances.“Prices may continue their downward movement, if the inventory data is in expected lines. Traders can enter into short sell around 214.5 with the stop loss of 217.5 for target 211,”MCX natural gas futures for May delivery was seen trading down by 0.37% at Rs.213.60 per mmBtu as of 03.25 PM IST on Thursday.US Energy Information Administration (EIA) is scheduled to release its data on natural gas stock-piles at 08.00 PM IST.Traders and analysts are expecting above average natural gas stock-piles (gain of 83 billion cubic feet), according to Reuters analysis. Higher stock-piles in United States are putting pressure on the commodity movement in the global market. Also, expectations o

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Published by: MtechTips on May 09, 2013
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MTECHTIPS COMMODITY MARKET NEWS 1
MTECHTIPS:-MCX Gold sideways to positive; resistance 27300MCX Gold futures are trading sideways to positive for the day and intra-daytraders may use buy on dips
strategy “The
commodity has important support at26950 and resistance at 27300 for the day. One can enter into buying positionnear 26050 with stop loss of 26950 for the target near 27300.However, certaindata releases hold the key to the futures movement with opinions varying. Laterinto the day by around 05.30 PM IST, Bank of England would announce its QE
Total as well as interest rate decision.“The odds favour the Bank of England
continuing to hold off from more stimulus on Thursday," said IHS Global Insighteconomist Howard Archer who was quoted by the AFP as saying."GDP growthof 0.3-percent quarter-on-quarter in the first quarter and an improved set of purchasing managers' surveys for April has eased pressure on the Bank of 
England for immediate further action to support the economy,” he
added. Asimilar decision is expected when it comes to interest rate decisions aswell."The first hurdle you have to get over is that you have to persuade the MPC(Monetary Policy Committee) that there needs to be more loosening anyway,"said Simon Hayes, an economist at Barclays Capital to Reuters."For me, that isthe biggest impediment to anything more interesting on the policy front," headded.With the US economy on a firm footing and non-farm pay rolls rising asper the latest data, chances galore that this time too the number of people whohave applied for unemployment insurance would drop.MTECHTIPS:-Live another day: Gold can bounce back by 2014-end ridinghyperinflationNovember 28, 2012 Wednesday: Gold for February delivery on the Comex shedweight, $26 dollars to be precise, as the session came to a close and settled at$1,718.80 an ounce. Spot gold, on the same day quoted down $25.20 at$1,717.25. Silver shed 1% and was seen at $33.725 an ounce. From there, goldprices began to chart a downhill registering incremental losses. April 12, 2013;Friday: With investors moving money out of gold and silver, the futures tumbled
 
at a breathtaking speed on Friday night. Gold futures for delivery on June 13closed at $1482.65 registering a loss of $82.25 or 5.26%. Silver for delivery onMay 13 closed at $25.915 a loss of $1.782 or 6.43%.The objective of this articleis not to exhume the past. But it is worthwhile to think what took gold prices toastronomical heights way back in 2011 to $1900 levels and from where it fellmiserably.Clearly, it was some QE frenzy that caused the rise! QuantitativeEasing, in effect money printing, became a hit with central bankers around theworld to such an extent that it led to bubble formations across various assetclasses; especially commodities and real-estate. The easy money received byfinancial institutions were parked in asset classes likeMTECHTIPS:-MCX Natural Gas negative; US inventory data awaitedNatural Gas futures for May delivery on India's Multi Commodity Exchange(MCX) is negative. Traders are awaiting US inventory data which is scheduled tobe released later today. Expected data is negative
for the commodity prices.“For
intra-day, support for the commodity is seen at 210 while 215 and 217.5 are the
resistances.“Prices may continue their downward movement, if the inventory
data is in expected lines. Traders can enter into short sell around 214.5 with the
stop loss of 217.5 for target 211,”MCX natural gas futures for May delivery was
seen trading down by 0.37% at Rs.213.60 per mmBtu as of 03.25 PM IST onThursday.US Energy Information Administration (EIA) is scheduled to release itsdata on natural gas stock-piles at 08.00 PM IST.Traders and analysts areexpecting above average natural gas stock-piles (gain of 83 billion cubic feet),according to Reuters analysis. Higher stock-piles in United States are puttingpressure on the commodity movement in the global market. Also, expectationsof higher than normal temperature have been putting pressure on pricemovement to some extent.MTECHTIPS:-MCX Copper to remain bullish until breaking of 395 levelCopper futures for June delivery on India's Multi Commodity Exchange (MCX)may remain bullish until the base metal breaks the crucial support of 395.However, for the time being, the futures are trading down due to profit
booking.“For intra
-day, support for the commodity is seen at 398 and 395 levels

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