Commodity Trading News And Technical Analysis Reports.

Monday, June 17, 2013

Weekly Economic Data;Data for the week 15-Jun-13 to 21-Jun-13

Expected impact on price:

This indicator shows the effect of the anticipation of data on the prices of related country’s major indices. We have categorized it as below:

Very Good

Good

Neutral

Bad

Very Bad

Actual:

Refers to the actual/latest figures after its release.

Data for the week 15-Jun-13 to 21-Jun-13

Date	Time (IST)	Country	Data	Exp.	Prior	Exp. chg today	Avg. chg of last 1 year	Exp. Impact on Price
14-17 Jun-2013	00:00	India	Imports (YoY)%		11.0%		5.21
14-17 Jun-2013	00:00	India	Exports (YoY)%		1.70%		4.14
17-Jun-2013	11-00 AM	India	India Repo Cutoff Yld	7.25%	7.25%	0.00%	0.07	Neutral

17-Jun-2013	11-00 AM	India	Cash Reserve Ratio	4.0%	4.0%	0.00%	0.83	Neutral
17-Jun-2013	11-00 AM	India	Reverse Repo Rate	6.25%	6.25%	0.00%	0.68	Neutral
17-Jun-2013	06-00 PM	United States	Empire Manufacturing	0	-1.43	1.43	4.86	Neutral

18-20 Jun 2013	00:00	United States	Federal Reserve FOMC Meeting
18-Jun-2013	02-00 PM	United Kingdom	Consumer Price Index (MoM)	0.1%	0.2%	-0.10%	0.45	Neutral
18-Jun-2013	02-00 PM	United Kingdom	Consumer Price Index (YoY)	2.6%	2.4%	0.20%	0.28	Neutral
18-Jun-2013	02-30 PM	Germany	ZEW Survey - Economic Sentiment	38.1	36.4	1.70	12.25	Neutral
18-Jun-2013	02-30 PM	Germany	ZEW Survey - Current Situation	9.5	8.9	0.60	5.46	Neutral
18-Jun-2013	06-00 PM	United States	Housing Starts (MoM)	0.950M	0.853M	0.10M	0.03	Good
18-Jun-2013	06-00 PM	United States	Consumer Price Index (MoM)	0.2%	-0.4%	0.60%	0.26	Good

19-Jun-2013	02-00 PM	United Kingdom	Bank of England Minutes
19-Jun-2013	04-30 PM	United States	MBA Mortgage Applications		5.00%
19-Jun-2013	08-00 PM	United States	EIA Crude Oil Stocks change		2.523M		3.45
19-Jun-2013	11-30 PM	United States	Fed Interest Rate Decision	0.25%	0.25%	0.00%	0.00	Neutral

20-Jun-2013	12-00 AM	United States	Fed's Monetary Policy Statement and press conference
20-Jun-2013	07-15 AM	China	HSBC Manufacturing PMI		49.2	0.20	0.97	Neutral
20-Jun-2013	12-18 PM	France	Markit Manufacturing PMI	47.0	46.4	0.60	1.53	Neutral
20-Jun-2013	12-28 PM	France	Markit Services PMI	44.8	44.3	0.50	1.45	Neutral
20-Jun-2013	12-58 PM	Germany	Markit Manufacturing PMI	49.9	49.4	0.50	1.32	Neutral
20-Jun-2013	06-00 PM	United States	Initial Jobless Claims	340k	334K	6.00K	8.00	Neutral
20-Jun-2013	18-30 PM	European Monetary Union	Euro Area Finance Ministers Meet In Luxembourg
20-Jun-2013	07-30 PM	United States	CB Leading Indicator (MoM)	0.2%	0.6%	-0.40%	0.56	Neutral
20-Jun-2013	07-30 PM	European Monetary Union	Consumer Confidence	-21.5	-21.9	0.40	1.04	Neutral
20-Jun-2013	07-30 PM	United States	Existing Home Sales (MoM)	5.01M	4.97M	0.04	0.16	Neutral
20-Jun-2013	08-00 PM	United States	EIA Natural Gas Storage change		95B		24.64

21-Jun-2013	12-00 PM	European Monetary Union	Eu-27 Finance Ministers Meet in Luxembourg

Empire State Manufacturing Index And Foreign Securities Purchases - Economic Data

Friday, June 14, 2013

Technical Analysis – Copper could move to $ 7270

Analysis

Copper is in a large symmetrical triangle formation at $7,483-6,856. Since this triangle is also a continuation pattern, it suggests a drop unless the metal can break above the top of the triangle formation. A break below this triangle offers a downside target of $6,000-5,900 while a break back above it offers a weaker (counter-trend) target of $7,883-7,938.

Conclusion

Presently, it can test support of the bottom of the triangle formation at $6,856 but this might not come about immediately.
Overall we are neutral-negative in the short term. This would only change on a break back above the UTL at $7,296.
We are neutral in the medium term and will remain so until a break of this formation. We are neutral-negative in the long term.

Tuesday, June 11, 2013

Commodity futures turnover in India rose 4.7 percent to 28.16 trillion rupees in April and May

India has 21 commodity bourses, including six operating at the national level.

Foreigners are still not allowed to trade in futures, but can buy stakes in commodity exchanges in the world's second-biggest producer of wheat and biggest buyer of gold.

Agricultural futures fell 26.46 percent to 2.5 trillion rupees in the first two months of the financial year starting from April. Cumulative turnover for bullion rose 4.23 percent to 13.52 trillion rupees, the market regulator said in a statement.

"As far as commodity futures turnover is concerned, tough times are ahead," said Harish Galipelli, head of commodities and currency, JRG Wealth Management.

Volumes will take a hit due to the commodities transaction tax as the cost of transaction will increase, making it difficult for jobbers, traders to enter and exit, he said.

CTT will be levied at 0.01 percent of the value of transaction on all non-agricultural commodities, but the date of implementation has not been fixed.

Commodity exchanges in India, which allowed futures trading in 2003, trade in about 80 commodities ranging from gold to carbon credits, but most of the volumes are cornered by 8-10 commodities.

Monday, June 10, 2013

Weekly Economic Data; Economic & Political Events, Data for the week 08-Jun-13 to 14-Jun-13