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NY sugar may rise to 16.43 cents SINGAPORE: New York March sugar may break a resistance at 16.19 cents per lb and rise more to 16.43 cents, as indicated by its wave pattern and a Fibonacci projection analysis.A correction from the Oct. 9 high of 17.20 cents has completed, as a Fibonacci projection analysis reveals that the first and third component waves of the correction, labelled a and c respectively, are roughly equal in length.The analysis also reveals a resistance at 16.19 cents, the 76.4 percent level, which temporarily blocks the way towards the 50 percent level at 16.43 cents.The target at 16.43 cents will be aborted should sugar drop below 16.10 cents.** 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 ...


Gold holds near $1,230 ahead of Fed SINGAPORE: Gold steadied near $1,230 an ounce on Wednesday, clinging to modest gains from the previous session, ahead of the next guidance from the Federal Reserve on whether it will hike US interest rates sooner or keep them lower for longer. The Fed wraps up its two-day policy meeting later on Wednesday and is expected to end its bond purchases amid signs of strength in the US economy. But policymakers will likely reinforce its stated ...

CBOT soybeans still target $10.47-1/4 SINGAPORE: A bullish target at $10.47-1/4 per bushel remains unchanged for CBOT soybeans November contract as indicated by its wave pattern and a Fibonacci retracement analysis.The gain from the Oct. 1 low of $9.04 followed the completion of a five-wave cycle that developed from the May 22 high of $12.79. A Fibonacci retracement analysis on the cycle reveals soybeans have cleared a resistance at $9.92-1/2, the 23.6 percent level and approached the next resistance at ...

Shanghai copper to rise to 48,120 yuan SINGAPORE: Shanghai copper third month may rise to 48,120 yuan per tonne, as it has cleared a resistance at 47,420 yuan.The resistance was provided by the 14.6 percent Fibonacci projection level of an upward wave c, which started at the Oct. 17 low of 46,270 yuan and is presumably the third wave of a three-wave cycle that developed from the March 12 low of 43,740 yuan.The next resistance will be at 48,120 yuan, the 23.6 ...

Gold firms on weak US durable goods data; Fed eyed NEW YORK/LONDON: Gold prices edged higher on Tuesday as softer-than-expected US consumer spending data pressured the dollar, ahead of a closely-watched Federal Reserve policy statement. Data showed demand for US-made non-defence durable goods, excluding aircraft, fell 1.7 percent in September, its biggest drop in eight months and a cautionary note for an economy that otherwise seems to be moving forward at a steady clip. Investors are focusing on the Fed's latest policy statement on Wednesday ...

Brazil's 2015 coffee crop seen as big as 47mn bags SAO PAULO: Brazil's 2015 coffee crop is expected at best to reach 47 million 60-kg bags, on par with this year's crop that just finished harvest, a Rabobank analyst said. Rafael Barbosa, food and agribusiness analyst at the bank, said in an email late on Monday that he expected rains to return to the drought-stricken coffee belt in the coming weeks, which would likely unleash widespread flowering across the coffee belt. Even so, he did ...

Palm oil to rise to 2,259 ringgit SINGAPORE: Palm oil is expected to rise to 2,259 ringgit per tonne, as it has cleared a resistance at 2,222 ringgit.The resistance was provided by the 38.2 percent Fibonacci projection level of an upward wave C that developed from the Oct. 16 low of 2,104 ringgit. This is the third wave of a three-wave cycle that rose from the Sept. 2 low of 1,914 ringgit.The next resistance will be at 2,259 ringgit, the 50 percent ...


 



 
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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