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LME aluminium may bounce to $1,590 SINGAPORE: LME aluminium may bounce to a resistance at $1,590, as it has found a support at $1,560 per tonne.The support is provided by the 150 percent Fibonacci projection level of a big wave C from the July 15 high of 1,729.50. It caused a bounce on Aug. 12, which ended around $1,600, the 114.6 percent level.The second bounce has been triggered, which could be weaker, to extend to $1,590, the 123.6 percent level.A break below $1,560 will signal the continuation of the downtrend towards a range of $1,530-$1,547, formed by the 176.4 percent and the 161.8 percent levels.Copyright Reuters, 2015


Shanghai copper to drop to 38,510 yuan SINGAPORE: Shanghai copper is expected to drop to 38,510 yuan per tonne, as it is riding on a downtrend towards the Aug.7 low of 37,310 yuan.The trend is considered as a continuation of a bigger downtrend preceding the rebound from the July 28 low of 37,440 yuan. A Fibonacci projection analysis reveals an immediate support at 38,790 yuan, the 76.4 percent level, which could be broken on Tuesday.The next support will be at 38,510 yuan, ...

Palm oil to hover below 2,052 ringgit SINGAPORE: Palm oil faces a resistance at 2,052 ringgit per tonne and may either hover below this level or retrace to a support at 2,017 ringgit. The resistance is identified as the 161.8 percent Fibonacci projection level of a big wave C, the third wave of a three-wave cycle that developed from the June 8 high of 2,362 ringgit.A break above the resistance could open the way towards the next resistance at 2,086 ringgit, the ...

CBOT soybeans neutral in $9.12-1/4 to $9.23 range SINGAPORE: CBOT soybeans November contract looks neutral in a range of $9.12-1/4 to $9.23 per bushel, and an escape will point a direction.The range is formed by the 14.6 percent Fibonacci retracement on the fall from the Aug. 12 high of $9.76 to the Aug. 12 low of $9.01-1/2 and the 61.8 percent Fibonacci projection level of a downward wave c, the third wave of a three-wave cycle that developed from the July 14 high ...

Copper slides on China demand concerns and dollar strength LONDON: Copper prices slid on Monday on prospects for slowing demand in top consumer China, reinforced by last week's move to weaken the yuan, and a higher dollar.Benchmark copper on the London Metal Exchange was untraded at the close but was bid down 1 percent at $5,114 a tonne from $5,170 on Friday. The metal, used in power and construction, plunged to a six-year low of $5,062 last week.China's yuan posted its biggest weekly loss ...

Gold firms as US data hurts dollar, caution over China lingers LONDON: Gold firmed on Monday, building on its biggest weekly rise in three months, as weaker than expected U.S. data weighed on the dollar and uncertainty lingered over the implications of China's yuan devaluation.Gold rallied to its highest since mid-July last week after Beijing's mini-devaluation of the yuanm, as analysts speculated that a weakening Chinese currency could prompt the Federal Reserve to postpone an expected rise in U.S. interest rates.Spot gold was up 0.5 percent ...

Arabica coffee eases, near three-month high; sugar dips LONDON: Arabica coffee on ICE dipped on Monday, hovering below a three-month peak touched last week and pressured by a firm dollar, while sugar eased in response to a rapid cane crush in Brazil and cocoa firmed."People are concerned about a smaller Brazilian arabica crop, and the market is also down because it failed to break out higher on Friday," one arabica trader said.Traders said coffee prices were buoyed by a report from Brazilian exporters ...


 



 
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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