4:54 PM
Unknown
GOLD
The
impact of the positive jobs data released last week can be seen on
gold. There are expectations that the gold prices will decline in coming
days. The prices was flat yesterday and ended 0.05% day declining
margin and closed at $1251.6/oz. The inflation can move higher
indicating that the monetary policy winding will be done soon which will
result in correction of gold prices.Forecast
Gold continue to trade in a range .The trading range can be between 1246-1270 as the recent trend in bullion prices are lower .
SILVER
Base
metals largely underperformed the last week, still silver managed to
perform well .It is still expected to continue the weaker trend and the
gold to silver ratio is observed at 66 mark and might trade in a range
and may start moving higher gradually .Silver traded marginally higher
yesterday and 0.3% increase has been observed diverging from weakness in
gold prices. The dollar index rose by 0.3%yesterday, strength in base
metals complex led to gains in silver prices.Forecast
The silver can trade marginally higher and the range bound movement can be observed.
CRUDE
The
oil prices increased by 1$ on Monday because of the strong Chinese data
and US data which indicates that the growth in economy is healthy and
demand is also high .The positive data boosted an oil market already in
loss of crude exports from Libya, where violence and civil turmoil have
cut oil output by more than 1 million barrels a day .The china’s export
have come more than the forecast it is due to the firmer global demand
which is rising 7% from a year earlier and increased 9% by April .Forecast
The up movement in prices can be observed in the coming session .It is also expected to range of 103-105.30 .
TODAY’S DAY RANGE
| COMMODITY | S1 | S2 | R1 | R2 |
| GOLD | 1248 | 1240 | 1260 | 1265 |
| SILVER | 18.80 | 18.70 | 19.10 | 19.30 |
| CRUDE | 104 | 103.30 | 105.20 | 105.80 |
DAY’S HIGHLIGHT
- Euro Zone Sentix Investor Confidence declined to 8.5-mark in June.
- US API crude oil inventories expected to fall by 1.5 mn bbl. – Reuters.
- China’s Consumer Price Index (CPI) increased by 2.5 percent in May.
- Japan’s Tertiary Industry Activity declined by 5.4 percent in April.
- Probe into Qingdau port pushed the red metal lower.
- UK’s BRC Retail Sales Monitor grew by 0.5 percent in last month.
Data Update for 10th JUNE 2014
| Time | Currency | Impact | Actual | Forecast | Previous | |
| 1:45am | CHF | Unemployment Rate | 3.20% | 3.20% | 3.20% | |
| 1:59am | JPY | Prelim Machine Tool Orders y/y | 24.10% | 48.70% | ||
| 2:45am | EUR | French Industrial Production m/m | 0.30% | 0.30% | -0.40% | |
| 3:15am | CHF | Retail Sales y/y | 2.20% | 3.00% | ||
| 4:00am | EUR | Italian Industrial Production m/m | 0.40% | -0.50% | ||
| 4:30am | GBP | HIGH | Manufacturing Production m/m | 0.40% | 0.50% | |
| GBP | Industrial Production m/m | 0.40% | -0.10% | |||
| Tentative | GBP | 10-y Bond Auction | 2.82|1.7 | |||
| 7:30am | USD | NFIB Small Business Index | 96.1 | 95.2 | ||
| 10:00am | GBP | NIESR GDP Estimate | 1.00% | |||
| USD | JOLTS Job Openings | 4.04M | 4.01M | |||
| USD | Wholesale Inventories m/m | 0.60% | 1.10% | |||
| 7:50pm | JPY | BSI Manufacturing Index | 14.1 | 12.5 | ||
| JPY | CGPI y/y | 4.10% | 4.10% | |||
| 8:30pm | AUD | HIGH | Westpac Consumer Sentiment | -6.80% | ||
| 11th-14th | NZD | REINZ HPI m/m | 0.10% |
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