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NY sugar to fall to 16.36 cents SINGAPORE: New York March sugar is expected to fall to a support at 16.36 cents per lb, a break below which will lead to a further loss to 16.16 cents.The support is provided by the 50 percent Fibonacci retracement on the rise from the Sept. 23 low of 15.51 cents to the Oct. 9 high of 17.20 cents. Sugar has cleared a former support at 16.55 cents, the 38.2 percent retracement, and is heading towards 16.36 cents.A break above 16.55 cents, now a resistance, may signal the completion of the correction from 17.20 cents, and the 23.6 percent retracement at 16.80 cents will be targeted.** 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 ...


NY coffee to test support at $2.1310 SINGAPORE: New York December coffee is expected to test a support at $2.1310 per lb, with a good chance of breaking below this level and falling more to $2.0605.It is clear that a top has formed around a resistance at $2.2440, the 100 percent Fibonacci projection level of an upward wave c. Coffee has broken a support at $2.1790, the 86.4 percent level. The next support will be at $2.1310, the 76.4 percent level, which ...

Palm prices seen up from current levels by end-2014; oilseeds supply eyed KUALA LUMPUR: Palm oil futures may end the year 2 percent above current levels due to lower output in second-biggest producer Malaysia, but abundant supplies of rival oilseeds mean prices will still close down about 19 percent for the year, a Reuters poll showed.While a median survey of 14 planters, analysts and traders pegged prices at 2,161 ringgit ($660.05) per tonne for the end of this year, forecasts ranging between 1,900 ringgit and 2,600 ringgit ...

Iron ore futures stretch losses on global growth worries SINGAPORE: Iron ore futures in China and Singapore extended losses on Thursday, caught up in the weakness among other risk assets as worries over the outlook for the global economy mount.Oil prices fell to fresh four-year lows and Japanese stocks tumbled as investors shunned risks after recent weak data from the United States fueled worries over the world economy.The most-traded iron ore for January delivery on the Dalian Commodity Exchange was down 2.7 percent at ...

Fortescue quarterly iron ore output jumps as price sinks SYDNEY: Iron ore producer Fortescue Metals Group's September quarter shipments rose 60 percent from a year ago to 41.5 million tonnes, helping drive down costs in a hotly contested global market, the company said on Thursday.Australia's No. 3 iron ore miner said its average selling price fell to $71 per tonne over the quarter to Sept 30 from $121 per tonne tonne in the year earlier period, partly offset by a 3 percent drop in ...

Brent oil to retest support at $82.87 SINGAPORE: Brent oil is expected to retest support at $82.87 per barrel, with a good chance of breaking below it and falling more towards $77.70.The support has formed around the 86.4 percent Fibonacci projection level of a downward wave C that started at the June 19 high of $115.71. As the third component of a three-wave cycle that developed from the April 11, 2011 high of $127.02, the wave C may travel to $77.70, the ...

Spot gold targets $1,263 SINGAPORE: A bullish target at $1,263 per ounce has been established for spot gold as it has cleared resistance at $1,233.The strength of the rebound from the Oct. 6 low of $1,183.46 indicates it is against a big three-wave cycle that developed from the March 17 high of $1,391.76. A Fibonacci retracement analysis on the cycle reveals the rebound has extended above an earlier resistance at $1,233, the 23.6 percent level.The next resistance will be ...


 



 
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Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyAugust
Trade Balance $-2.807 bln
Exports $1.911 bln
Imports $4.718 bln
WeeklyOctober 20, 2014
Reserves $13.436 bln