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LME copper to retest support at $6,820 SINGAPORE: LME copper is expected to retest a support at $6,820 per tonne, as it has completed a rebound triggered by this level. The support is provided by the 150 percent Fibonacci projection level of a downward wave C that started at the July 25 high of $7,198.25. This wave has been zigzagging down in a falling channel, the upper channel line of which exerts a resistance while the lower channel line provides a support. Copper has bounced off the upper channel line and is falling towards the lower channel line which is about $6,754, the 176.4 percent projection level. The views expressed are his own. No information in this analysis should be considered as being business, financial or legal advice. Each reader should consult his or her own professional or other advisers for business, financial or legal advice regarding the products mentioned in the analyses. Copyright Reuters, 2014


LME aluminium may rise to $2,074 SINGAPORE: LME aluminium may break a resistance at $2,041 per tonne and rise more to $2,074. The resistance is at the 123.6 percent Fibonacci projection level of an upward wave C that developed from the May 21 low of $1,754.75, temporarily blocking the way towards the 138.2 percent level at $2,074. A rise above the Aug. 19 high of $2,047 will confirm the break.Wave pattern indicates the metal is riding on a wave 5, which ...

Gold struggles below $1,300 on strong US data, higher stocks SINGAPORE: Gold was stuck firmly below $1,300 an ounce on Wednesday after a three-day losing streak, as strong US housing data bolstered stock markets and dimmed bullion's appeal as a safe haven.While keeping an eye on mounting geopolitical tensions, investors were also awaiting minutes of the Federal Reserve's July meeting for clues about the US central bank's monetary policy outlook.Spot gold was little changed at $1,295.68 an ounce by 0332 GMT, after dropping 1.3 percent ...

CBOT soybeans to break support at $10.41-1/2 SINGAPORE: CBOT soybeans November contract is poised to break a support at $10.41-1/2 per bushel and fall further towards $10.26-3/4, driven by a wave C.The contract failed to overcome this barrier at its first attempt, but may succeed in its current attempt. The support is provided by 76.4 percent Fibonacci projection level of a downward wave C that started at the Aug. 11 high of $10.89-1/4.The next support will be at $10.26-3/4, the 100 percent ...

Copper steady as upbeat US economic data offsets China concerns LONDON: Copper prices steadied on Tuesday as encouraging signs from the U.S. economy offset concerns about top consumer China's struggling property sector and the outlook for industrial metals demand.Three-month copper on the London Metal Exchange (LME) traded at $6,905 a tonne in official rings, flat from Monday's close.U.S. homebuilding stocks rose on Monday, boosted by data that showed homebuilder sentiment rose in August to its highest level since January.In contrast, China's new home prices fell ...

Corn, wheat ease for second day on supply pressure SINGAPORE/PARIS: Chicago corn futures dropped for a second session on Tuesday as findings from a widely-watched crop tour renewed expectations of a near-record US harvest, while wheat fell on easing concerns over Black Sea supplies.Soybeans edged lower, giving up some of the last session's gains after a US Department of Agriculture weekly report showed a slight improvement in crop ratings.Chicago Board of Trade December corn had fallen 0.8 percent to $3.68-1/2 a bushel by 1126 ...

Sugar slips to 6-month low as stocks build, coffee eases LONDON: ICE raw sugar futures sank to a fresh six-month low on Tuesday, as slow demand on the physical market and building world stocks weighed on prices.Coffee was also lower, while cocoa prices traded below the previous session's more than 3-year high.The strengthening U.S. dollar against a basket of currencies was bearish for dollar-priced commodities.In raw sugar, benchmark ICE October futures were down 0.07 cent or 0.5 percent to 15.61 cents at 1405 GMT, having ...


 



 
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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 25, 2014
Reserves $13.925 bln