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Palm oil faces resistance at 2,312 ringgit SINGAPORE: Palm oil faces a resistance at 2,312 ringgit per tonne, a break above which will lead to a further gain to 2,342 ringgit.The contract is riding on a wave c, the third wave of a presumed three-wave cycle that developed from the Jan. 30 low of 2,106 ringgit. This wave may travel to 2,371 ringgit, the 61.8 percent level. A rise to 2,318 ringgit may confirm a break above 2,312 ringgit. However, the break will be considered as false, should palm oil fail to stand firm above 2,312 ringgit. A drop to 2,298 ringgit could be extended to the support at 2,275 ringgit, the 23.6 percent level.Copyright Reuters, 2015


CBOT soybeans may gain to $10.42-1/2 SINGAPORE: CBOT soybeans May contract may gain a bit further to $10.42-1/2 per bushel as it has stood above resistance at $10.27-1/4.It is not very clear if the uptrend from the Jan. 30 low of $9.61-3/4 is a continuation of the preceding uptrend from the Oct. 1 low of $9.28-3/4 or a counter-trend against the downtrend from the Nov. 12 high of $10.92-3/4.However, the Fibonacci retracement analysis on the fall from $10.92-3/4 to $9.61-3/4 does ...

Glencore cuts Australian coal output on weak demand, supply glut SYDNEY: Mining and commodities giant Glencore Xstrata on Friday said it was reducing its coal production in Australia by 15 million tonnes amid weak global demand and oversupply.It is understood that up to 120 jobs at Glencore's 13 Australian mines could be affected as a result of the cuts, which will include scaling back some operations and deferring projects.The announcement follows the Swiss company's decision to shut its mines for three weeks over the Christmas ...

Gold pares gains after firm US data, but remains higher NEW YORK/LONDON: Gold pared gains on Thursday after stronger-than-expected US data lifted the dollar and impetus from Chinese buying petered out, but it remained higher after the Federal Reserve indicated this week that it was in no rush to raise interest rates.The dollar rose against a currency basket as data on U.S. durable goods orders in January beat forecasts, boosting confidence in business activity despite worries of the recent surge in the dollar hurting exports.That ...

ICE cotton slips from fresh Sept. highs on profit-taking NEW YORK: ICE cotton settled lower on Thursday after late-session profit-taking knocked prices off their highest levels in five months, offsetting healthy export sales data that fueled optimism about foreign demand and dwindling supplies.The most-active May cotton contract on ICE Futures U.S. eased 0.34 cent, or 0.5 percent, to settle at 65.21 cents a lb, after rising to as high as 66.24 cents, the loftiest since Sept. 15, about an hour before the close.Prices rose ...

US soy climbs on Brazilian truck strike; corn, wheat trail CHICAGO: Chicago soybean futures rose on Thursday on uncertainty over the Brazilian trucker strike, which threatens to stall movement of the new harvest of the grain onto the world market, traders and analysts said.Chicago corn and wheat also ended higher, tracking the strength in soybeans.Chicago Board of Trade March soybeans ended 16-1/4 cents, or 1.6 percent, higher at $10.24 a bushel."Until the Brazilian trucker strike is resolved, all you are going to do is give ...

Bullish export data helps spark rebound in EU wheat prices LONDON: Wheat futures in Paris turned higher on Thursday after bullish European Union export data and bargain hunting helped the market rebound from a two-month low earlier in the day.London's feed wheat futures market remained lower, however, as sterling's rise to a 7-year high against the struggling euro dented export prospects for UK wheat to key customers in the euro zone.May milling wheat in Paris ended 0.75 euro or 0.4 percent higher at 186.00 euros ...


 



 
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ICT 2014


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyDecember
Trade Balance $-1.703 bln
Exports $2.156 bln
Imports $3.859 bln
WeeklyFebruary 26, 2015
Reserves $15.944 bln