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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. The euro also hit its lowest level in a year against the U.S. currency as expectations grew that the European Central Bank will act soon to counter low growth and inflation.Industrial metals, priced in dollars, become more expensive for investors holding other currencies when the dollar rises.Three-month copper on the London Metal Exchange was $7,030 a tonne in official rings from $7,054 at the close on Tuesday. On Tuesday it hit an intraday high of ...


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 ...

Palm ends lower on anxiety of swelling supplies, strong ringgit  KUALA LUMPUR: Malaysian palm oil futures lost earlier gains and ended lower on Wednesday due to a strong ringgit, while anxiety about swelling supplies of global edible oils continued to drag.Prices in early trade had touched a near one-week high of 2,052 ringgit, lifted by overnight gains in overseas soy markets and a round of technical correction."The market cannot sustain (the gains). The overall scenario is still technically bearish, fundamentals are not friendly ... this ...

Soybeans rise from contract lows, corn near 2-week low HAMBURG/SINGAPORE: Chicago soybeans rose on Wednesday, lifted by expectations of an increase in demand after prices slid to a contract low in the previous session due to prospects for a bumper US soybean harvest.Corn fell to levels near Tuesday's two-week low as the expected record-large US crop thrives in favourable weather. Wheat was flat after seeing a rebound from recent lows earlier on Wednesday.Chicago Board of Trade November soybeans were up 0.3 percent at $10.32 ...

London copper dips on dollar, increasing supply LONDON: Copper fell 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."Strength ...

Cocoa hits fresh 3-year high, sugar near 7-month low LONDON: Cocoa futures on ICE edged up on Wednesday to a more than three-year high, having climbed steadily since the start of the year as speculators bet on a global deficit in 2014/15, while raw sugar hovered near a seven-month low.Arabica coffee steadied following a rally in the prior session after a leading trade house forecast a fall in Brazil's 2015/16 production.Cocoa futures on ICE edged up to a more than three-year high, basis second ...


 



 
Index Closing Chg%
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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