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NY cocoa may break resistance at $2,863 SINGAPORE: New York March cocoa may break a resistance at $2,863 per tonne and rise further, as it has briefly pierced above this level. The resistance is provided by the 14.6 percent Fibonacci retracement on the fall from the Sept. 25 high of $3,349 to the Nov. 13 low of $2,780. The next resistance will be at $2,914, the 23.6 percent retracement. Strategically, a surge above the Nov. 24 high of $2,878 could confirm a break above $2,863. A drop to $2,850 could indicate a failure to break the resistance and cocoa may revisit its Nov. 24 low of $2,802 then. 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 ...


Copper steady as China eases but demand worries persist LONDON: Copper was steady on Tuesday as investors weighed additional monetary policy easing in top consumer China against worries that the measures would not necessarily translate into more metals demand. Three-month copper on the London Metal Exchange (LME) dipped 0.15 percent to $6,665 a tonne. It touched a three-week high of $6,772.50 on Friday after China cut benchmark interest rates in a bid to jumpstart the economy. On Tuesday, China's central bank lowered the yield ...

Gold holds around $1,200/oz; US data, Swiss vote eyed LONDON: Gold rose to around $1,200 an ounce on Tuesday as the dollar was steady ahead of US economic data, and the market looked to forthcoming Swiss referendum on central bank gold reserves for more trading cues. A right-wing Swiss party called the Nov. 30 vote, aiming to prevent the Swiss National Bank from offloading its gold holdings and obliging it to hold at least 20 percent of its assets in gold, compared with 8 ...

India cotton supply down 19pc y/y as prices drop MUMBAI: Cotton supplies from the new crop in India, the world's second-largest producer of the fibre, have fallen 19 percent so far in the current season that began on October 1, said B. K. Mishra, managing director of the state-run Cotton Corporation of India. In the spot markets so far farmers have brought in around 3.9 million bales of 170 kg each, down from 4.8 million bales during the same period a year earlier, Mishra ...

Palm oil slips to over one-week low as ringgit advances KUALA LUMPUR: Malaysian palm oil futures slipped to their lowest in over a week on Monday as gains in the local currency made the ringgit-denominated commodity more expensive for overseas buyers and refiners.Malaysia's ringgit outperformed regional peers to climb 0.42 percent to 3.3415 on Monday, after the government decided to scrap fuel subsidies, a move seen helping state coffers save some 20 billion ringgit ($6 billion) annually."The ringgit strengthened and added a bit of pressure ...

Germany ships 231,000 T wheat to Iran in September HAMBURG: Germany exported about 231,000 tonnes of wheat to Iran in September 2014, figures from the German statistics agency showed on Monday, confirming market talk of large German sales to Iran. European grain traders had reported that Iran purchased substantial volumes of European wheat in September, including possibly from Germany. Iran has been Germany's largest customer for wheat exports outside the European Union in the current season, which started in July 2014, with shipments of ...

Copper pressured by China growth outlook concerns LONDON: Copper prices slipped on Monday, reversing hefty gains from the previous session which followed China's surprise interest rate cut, as investors focused on the uncertain outlook for metals demand from the world's top consumer. Three-month copper on the London Metal Exchange (LME) was down 0.5 percent at $6,691.25 a tonne, slipping from a three-week high of $6,772.50 a tonne touched on Friday after China cut benchmark interest rates in a bid to jumpstart the ...


 



 
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Banking Review 2013


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlySeptember
Trade Balance $-2.380 bln
Exports $2.181 bln
Imports $4.561 bln
WeeklyNovember 13, 2014
Reserves $13.268 bln