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Palm set for longest weekly losing streak in 16 years JAKARTA: Malaysian palm oil futures marked time on Friday but were still set to post their longest weekly losing streak since 1999, down 1.5 percent for the week and heading for an eighth consecutive weekly loss.Palmoil has fallen about 12 percent in the past eight weeks and is sitting near recent 11-month lows, hurt by worries about higher production, slowing import demand in China and a global commodities rout. The benchmark palm oil contract for November on the Bursa Malaysia Derivatives Exchange edged up 0.05 percent to 1,998 ringgit ($477.99) a tonne by the midday break, after falling a combined 3 percent in the previous two sessions.A weak Malaysian ringgit, which makes palm cheaper for offshore buyers, has lent some support.Traded volume stood at 21,711 lots of 25 tonnes each at midday, well above the roughly 13,500 lots usually traded by midday.Technical analysis suggests palm oil may drop to 1,976 ...


CBOT corn may rise into $3.74-$3.76 range SINGAPORE: CBOT September corn may climb into a range of $3.74-$3.76 per bushel, as suggested by a rising channel and a Fibonacci projection analysis.The uptrend from Aug. 13 has been developing within the channel, the upper channel line of which suggests a target range of $3.76 to $3.78-1/2, formed by the 38.2 percent and the 23.6 percent Fibonacci projection levels of a downward wave C.Based on the speed of the rise, a more realistic target ...

CBOT wheat may retrace to $5.01-1/2 SINGAPORE: CBOT September wheat may retrace to $5.01-1/2, as it failed to break a resistance at $5.05-1/2 per bushel.The resistance is at the 23.6 percent Fibonacci retracement on the rise from the Aug. 12 low of $4.84 to the Aug. 14 high of $5.12-1/4. It has caused a correction towards the 38.2 percent level at $5.01-1/2. The lower channel line of a rising channel suggests a similar target.The wave pattern indicates that wheat is riding ...

White sugar falls to 6-1/2-year low, coffee extends losses NEW YORK/LONDON: White sugar futures dropped for the fourth straight session to a 6-1/2-year low on Thursday as refiners sold into the whites-over-raws premium, while spot arabica coffee fell in heavy volume ahead of first notice day on Friday.Cocoa futures edged up on technically driven buying.White sugar prices fell sharply as refiners locked in sales before the steep premium over raw sugar prices dissolved, traders said.October white sugar settled down $5.60, or 1.7 percent, at ...

Gold hits 5-week high on lower US Sept rate hike chance NEW YORK/LONDON: Gold hit its highest in five weeks on Thursday as the dollar eased after minutes from the U.S. Federal Reserve meeting suggested policymakers were in no hurry to raise interest rates.Although agreeing that the economy was nearing a point where rates should move higher, Fed officials last month were worried that lagging inflation and a weak global economy posed risks too big to commit to a rate "lift-off"."There is some frustration because the ...

Soybeans bounce from 6-year low, corn stays firm CHICAGO: US soybean futures rebounded from near six-year lows on Thursday in a short-covering bounce and as weekly government data showed solid soybean and soymeal export sales last week.Corn edged higher, hovering close to last session's one-week peak after field reports from an annual crop tour suggested the country's output may be lower than was forecast by the U.S. Department of Agriculture.Wheat also advanced, drawing support from corn, a weaker dollar and chart support around ...

Spot gold may rise to $1,152 SINGAPORE: Spot gold may rise more to $1,152 per ounce, as indicated by a trendline and a Fibonacci projection analysis.The trendline fell from the May 18 high of $1,232.20 and suggests a target at $1,152, the 76.4 percent Fibonacci projection level of a downward wave C, which is the third wave of a three-wave cycle that developed from the Jan. 22 high of $1,306.20.Strategically, the target will be confirmed when gold breaks the immediate resistance ...


 



 
Index Closing Chg%
Arrow DJIA 16,643.01 0.07
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Arrow S&P 1,988.87 0.06
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Banking Review 2014


Annual2013/14
Foreign Debt $62.649bn
Per Cap Income $1,512
GDP Growth 4.24%
Average CPI 8.6%
MonthlyJune
Trade Balance $-2.378 bln
Exports $2.016 bln
Imports $4.394 bln
WeeklyAugust 27, 2015
Reserves $18.509 bln