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Palm oil to test support at 1,950 ringgit SINGAPORE: Palm oil is expected to test a support at 1,950 ringgit per tonne, driven by a wave 5. This is the final wave of a five-wave cycle that developed from the June 25 high of 2,511 ringgit. It may travel a similar distance as the first wave, the wave 1, to arrive at 1,920 ringgit, the 400 percent Fibonacci projection level of the third wave labelled 3. However, the target at 1,920 ringgit could only be confirmed when palm oil breaks a support at 1,950 ringgit, the 376.4 percent projection level. Resistance is at 1,998 ringgit, the 338.2 percent level, a break above which may trigger a further gain towards 2,046 ringgit, the 300 percent level. 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 ...


CBOT soybeans neutral in $10.19-3/4 to $10.30 range SINGAPORE: CBOT soybeans November contract looks neutral in a range of $10.19-3/4 to $10.30 per bushel, as it is not clear if the rebound from $10.19-3/4 extends.The range has been formed by the Aug. 26 low of $10.19-3/4 and the 14.6 percent Fibonacci retracement on the fall to this low from the Aug. 11 high of $10.89-1/4.A rise above $10.30 will signal an extension of the rebound towards $10.36, the 23.6 percent retracement, while a ...

Soybeans edged up after losses, higher US yields weigh SINGAPORE: Chicago soybeans rose on Thursday as the market paused after sliding three consecutive sessions to contract lows under pressure from higher-than-expected US harvest yields. Wheat ticked lower but the market is holding on to most of the gains from the last two days with support from tensions in the Black Sea region. Lack of demand for US supplies continues to weigh on the market. Chicago Board of Trade November soybeans rose 0.2 percent to ...

Spot gold edges up on dollar drop, heightened tensions NEW YORK: Spot gold edged up on Wednesday as a lower dollar and lingering geopolitical tensions helped offset selling pressure from a record rally in US equities.The dollar softened as traders focused on riskier assets, while speculation the European Central Bank will resort to monetary stimulus also triggered some interest in bullion, traders said.On Wednesday, Ukraine accused Russian forces of launching a new military incursion across its border, a day after the leaders of both ...

London copper dips on firm dollar, increasing supply LONDON: Copper dipped on Wednesday as a firm dollar and the prospect of increasing supply of the metal offset growing confidence in U.S. economic growth.Data on Tuesday showed orders for long-lasting U.S. manufactured goods posted their biggest gain on record in July, helped by strong overseas demand for aircraft. The underlying trend remained firm, pointing to brisk economic growth.The figures bolstered the dollar, which hit a 13-month peak against a basket of currencies on Wednesday. ...

Tokyo futures bounce from 1-week low; trapped in range SINGAPORE: Tokyo rubber futures rebounded from their weakest level in a week on Wednesday but settled little changed as Thailand's plan to sell its stockpile weighed on sentiment.The military government in top producer Thailand has approved a plan to sell 200,000 tonnes of rubber to cut storage costs and end a stock overhang. Thailand normally exports 250,000-300,000 tonnes of rubber a month.The Tokyo Commodity Exchange rubber contract for February delivery fell to 198.5 yen a ...

NY cocoa to drop to $3,181 SINGAPORE: New York December cocoa may drop to support at $3,181 per tonne as it could have completed an uptrend that developed from the July 16 low of $3,051.The trend has been driven by a wave C, which has briefly pierced into a range of $3,284-$3,308, formed by the 238.2 percent and the 261.8 percent projection levels.A trendline rising from the June 30 high of $3,141 also suggests a reversal of the uptrend, as cocoa ...


 



 
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Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyJune
Trade Balance $-2.311 bln
Exports $2.027 bln
Imports $4.338 bln
WeeklyAugust 28, 2014
Reserves $13.582 bln