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Shanghai copper may drop to 42,460 yuan SINGAPORE: Shanghai copper may drop to 42,460 yuan per tonne, as it could have resumed a downtrend falling from the March 24 high of 44,690 yuan.The resumption has been indicated by the completion of a moderate rebound from the April 2 low of 43,030 yuan. A Fibonacci retracement analysis on the rise from the Jan. 26 low of 38,860 yuan to 44,690 yuan reveals an immediate support at 43,310 yuan, the 23.6 percent level, a break below which could confirm the extension of the downtrend towards the 38.2 percent level at $42,460 yuan.Resistance is at 43,840 yuan, the 14.6 percent level, a break above which could open the way towards 44,690 yuan.Copyright Reuters, 2015

Palm oil to test support at 2,175 ringgit SINGAPORE: Palm oil is expected to test a support at 2,175 ringgit per tonne, a break below which will lead to a further loss to the next support at 2,146 ringgit.These two supports are identified respectively as the 76.4 percent and the 86.4 percent Fibonacci retracements on the rise from the Jan. 30 low of 2,106 ringgit to the March 4 high of 2,400 ringgit. The depth of the fall from the April 6 high ...

CBOT soybeans to fall into $9.59-3/4 to $9.65 range SINGAPORE: CBOT soybeans May contract may fall more into a range of $9.59-3/4 to $9.65 per bushel, as indicated by its wave pattern and a Fibonacci projection analysis.The range has been formed by the 23.6 percent and the 38.2 percent Fibonacci projection levels of an upward wave c, the third wave of an irregular flat that developed from the March 17 low of $9.53-1/2. The depth of the fall from the April 2 high of ...

Chinese steel futures fall for 6th day on demand woes SHANGHAI: Chinese rebar futures dropped for the sixth straight session to touch a record low on Wednesday as weak demand and ample supply in the world's top steel consumer continues to weigh on prices.A rapid decline in iron ore prices has allowed Chinese steel mills to produce rebar at lower costs, encouraging investors to increase their short positions in expectation of further declines ahead for steel."Steel mills are making better profit thanks to shrinking raw ...

China lowers 2015 cotton target price in key growing region BEIJING: China has reduced the target price its cotton subsidy scheme is based on in the major growing region of Xinjiang by 3.5 percent, with analysts saying the step would have little impact on output in one of the world's top growers.The 2015 target price for cotton in Xinjiang was set at 19,100 yuan ($3,080) per tonne, down from 19,800 yuan last year, the National Development and Reform Commission (NDRC) said late on Tuesday.Under a ...

Argentina soy prices inch lower, in line with Chicago BUENOS AIRES: Argentina's closing soy prices and trends on Tuesday:In the Rosario grains market, soy prices edged lower to between 1,880 and 1,920 pesos per tonne ($213-$217) from Wednesday's close of 1,900 to 1,920 per tonne. Lower prices in benchmark Chicago futures set the tone for the session.US soybean futures fell for the third session in a row on Tuesday, hitting a one-week low on pressure from the expanding harvest in South America that is ...

Gold retreats from seven-week top as dollar bounces back NEW YORK/LONDON: Gold edged lower on Tuesday as the dollar recovered and global shares rose, but uncertainty about the timing of a US interest rate increase kept bullion not far from a seven-week high above $1,200 an ounce. Bullion hit its highest since Feb. 17 at $1,224.10 on Monday, supported by a weakening dollar after US nonfarm payrolls data fueled expectations that the Federal Reserve could delay an anticipated rate rise this year. "Bulls are ...


Index Closing Chg%
Arrow DJIA 17,826.30 1.54
Arrow Nasdaq 4,931.82 1.52
Arrow S&P 2,081.18 1.13
Arrow FTSE 6,994.60 0.93
Arrow DAX 11,688.70 2.58
Arrow CAC-40 5,143.26 1.55
Arrow Nikkei 19,652.88 1.17
Arrow H.Seng 27,653.12 0.31
Arrow Sensex 28,442.10 0.78

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ICT 2014

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-999 mln
Exports $2.064 bln
Imports $3.063 bln
WeeklyApril 16, 2015
Reserves $16.818 bln