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Brent oil drops below $86 after Goldman cuts forecasts LONDON: Brent crude oil fell below $86 a barrel on Monday after Goldman Sachs slashed its price forecasts, citing abundant supply and lacklustre demand despite a pick-up in global economic growth.The US investment bank said in a research note on Sunday that it had cut its forecast for Brent to $85 a barrel from $100 for the first quarter of 2015 and reduced its projection for US crude to $75 from $90.The bank said Brent could fall to $80 a barrel in the second quarter of 2015, with US crude dipping as low as $70 while rising production in non-OPEC countries outside North America outstripped demand.Goldman Sachs' move makes it the most bearish of major financial institutions that have been carving back their estimates in recent weeks.Brent for December was down 25 cents at $85.88 a barrel by 0850 GMT. US crude for December was up 2 cents at $81.03 ...

Palm slips on weak soy, crude; hopes for weaker output supports KUALA LUMPUR: Malaysian palm oil futures edged down on Monday, slipping off a two-week high as losses in overnight soy markets as well as weak crude prices weighed, although optimism that wet weather could cap output in the world's top palm growers provided support.Export demand for Malaysian palm oil held steady, but was still down 11.2 percent for Oct. 1-25 period compared with a month ago, according to data from cargo surveyor Intertek Testing Services. ...

CBOT wheat to hover around $5.11-1/4 SINGAPORE: CBOT December wheat has found a support at $5.11-1/4 per bushel, and may hover around this level for one day before falling towards the next support at $5.02-3/4.These two supports are identified respectively as the 38.2 percent and the 50 percent Fibonacci retracements on the rise from the Sept. 25 low of $4.66-1/4 to the Oct. 24 high of $5.39-1/4. The drop from this high seems to be too linear to sustain.A fall to ...

NY sugar to retest support at 16.19 cents SINGAPORE: New York March sugar may retest a support at 16.19 cents per lb, as indicated by its wave pattern and a Fibonacci projection analysis.The support was provided by the 76.4 percent Fibonacci projection level of a downward wave c that started at the Oct. 20 high of 16.89 cents. This wave seems to be only partially completed, as it is capable of travelling to 15.97 cents, the 100 percent projection level. The lower channel ...

Spot gold may break support at $1,228 SINGAPORE: Spot gold may retest support at $1,228 per ounce, a break below which will lead to a further loss to $1,219.Support is provided by the 38.2 percent Fibonacci retracement on the uptrend from the Oct. 6 low of $1,183.46 to the Oct. 21 high of $1,255.20. It has triggered a weak rebound which seems to have ended around the 30 percent level at $1,234.Strategically, a drop to $1,226 will confirm a break below support ...

LME copper drifts lower as supply pick-up pressures prices SYDNEY: London copper drifted on lower Monday after closing last week little changed, as a strike at Peru's biggest copper mine failed to undercut confidence that improving supply will eclipse a seasonal uptick in demand.China's copper product makers typically ramp up ahead of the Christmas and Lunar New Year gift-giving seasons, but demand has been fragile this year due to flickering growth in the euro zone that is a further drag on already slowing activity ...

LME aluminium may bounce to $1,985 SINGAPORE: LME aluminium may rebound further to $1,985 per tonne, as it has cleared a resistance at $1,966.The resistance was provided by the 38.2 percent Fibonacci retracement on the rise from the Oct. 2 low of $1,885 to the Oct. 22 high of $2,015.75. After approaching a support at $1,950, the 50 percent level, aluminium failed to fall further, instead, it started a bounce.This bounce could be due to the development of the right shoulder ...


Index Closing Chg%
Arrow DJIA 16,974.31 0.18
Arrow Nasdaq 4,549.23 0.33
Arrow S&P 1,982.30 0.14
Arrow FTSE 6,453.87 0.81
Arrow DAX 9,082.81 0.16
Arrow CAC-40 4,110.64 0.05
Arrow Nikkei 15,553.91 1.46
Arrow H.Seng 23,819.87 1.27
Arrow Sensex 27,098.17 0.81

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Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-19.98 bln
Exports $25.13 bln
Imports $45.11 bln
WeeklyOctober 27, 2014
Reserves $13.464 bln