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CBOT corn may retest resistance at $3.80 SINGAPORE: CBOT Dec. corn may retest resistance at $3.80 per bushel, a break above which will open the way towards $3.93-1/4.The resistance is provided by the 23.6 percent Fibonacci retracement on the fall from the June 19, 2013 high of $5.80 to the Oct. 1 low of $3.18-1/4. The next resistance will be at $3.93-1/4, the 38.2 percent Fibonacci retracement on a shorter downtrend from the May 9 high of $5.14-3/4 to $3.18-1/4.A further drop from the current level may be limited to $3.64-1/2, the 23.6 percent retracement on the shorter trend.Wang Tao is a Reuters market analyst for commodities and energy technicals. The views expressed are his own.No information in this analysis should be considered as being business, financial or legal advice. Each reader should consult his or her own professional or other advisers for business, financial or legal advice regarding the products mentioned in the analyses.Copyright Reuters, 2014 ...


Gold languishes near $1,200; set for worst week in seven SINGAPORE: Gold was struggling near $1,200 an ounce on Friday and looked likely to post its worst week in seven, while silver was stuck near its lowest in 4-1/2 years, as strong US economic data and fears of an early rate hike curbed the metals' appeal.Gold was also headed for its second monthly decline and silver looked set for a fourth monthly drop in a row.FUNDAMENTALSSpot gold was little changed at $1,200.12 an ounce by ...

Soymeal eyes biggest monthly gain since 2008 on tight supply SINGAPORE: Chicago soymeal rose more than 1 percent on Friday, stretching its monthly climb in October to the biggest since June 2008, boosted by record export demand and railroad congestion.Soybeans added 0.6 percent, trading near a seven-week peak, while corn was largely unchanged after rising to its highest since July 18 in the last session.FUNDAMENTALSSoybean, soymeal, corn and wheat futures are on track to end October with strong gains. Soymeal has added more than a ...

Spot gold to end rebound around $1,207 SINGAPORE: Spot gold may end its current weak rebound around a resistance at $1,207 per ounce, and then resume its downtrend towards the Oct. 6 low of $1,183.46.The short-term uptrend from this low has been reversed more than 76.4 percent, as indicated by a Fibonacci retracement analysis. Chances are high that the trend will eventually be totally reversed.Gold is riding on a downward wave c, the third wave of a three-wave cycle that started at ...

LME copper to drop to $6,653 SINGAPORE: LME copper may fall more to $6,653 per tonne, driven by a wave (5).This is the fifth wave of a five-wave cycle that developed from the Aug. 26 high of $7,108.75. It may travel to $6,530, the Oct. 17 low and the presumed trough of the preceding wave (3).A Fibonacci retracement analysis on the fall from the Sept. 8 high of $7,052.25 to $6,530 reveals that copper has deeply pierced below a support at ...

London copper steady, set to post small monthly gain SYDNEY: London copper was little changed on Friday as a dollar-rally threatened to extinguish its modest monthly gains, and as traders said further strength in the greenback may erode prices going into November.The US dollar held at four-week highs against a basket of major currencies early on Friday, getting another boost from encouraging growth data a day after the Federal Reserve gave an upbeat assessment on the economy."We have a call for a modest downside ...

LME aluminium targets $2,063 SINGAPORE: LME aluminium may break a resistance at $2,029 per tonne and rise more to $2,063, as it approached this barrier again.The resistance has been identified as the 61.8 percent Fibonacci retracement on the fall from the Sept. 8 high of $2,118 to the Oct. 2 low of $1,885. This resistance has triggered a shallow correction to the support at $2,002, the 50 percent level.With the metal approaching $2,029 again, the uptrend seems to have ...


 



 
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Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyJuly-June
Trade Balance $-19.98 bln
Exports $25.13 bln
Imports $45.11 bln
WeeklyOctober 27, 2014
Reserves $13.464 bln