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Palm oil slips to over one-week low as ringgit advances KUALA LUMPUR: Malaysian palm oil futures slipped to their lowest in over a week on Monday as gains in the local currency made the ringgit-denominated commodity more expensive for overseas buyers and refiners.Malaysia's ringgit outperformed regional peers to climb 0.42 percent to 3.3415 on Monday, after the government decided to scrap fuel subsidies, a move seen helping state coffers save some 20 billion ringgit ($6 billion) annually."The ringgit strengthened and added a bit of pressure on palm oil prices," said a trader with a foreign commodities brokerage in Kuala Lumpur. "There's no other strong sentiment, the market should trade in a range of 2,200-2,250 ringgit."The benchmark February contract on the Bursa Malaysia Derivatives Exchange slipped to 2,200 ringgit in intraday trade, its lowest since Nov. 14, before settling 1.3 percent lower at 2,204 ringgit ($658) per tonne by Monday's close.Total traded volume stood at 35,585 lots of 25 tonnes, above ...

Spot gold may test resistance at $1,203 SINGAPORE: Spot gold may test a resistance at 1,203 per ounce, a break above which will lead to a further gain to $1,247.The resistance is at the 23.6 percent Fibonacci retracement on the fall from the Aug. 28, 2013 high of $1,433.31 to the Nov. 7 low of $1,131.85. It has triggered a correction which seems to have ended around the 14.6 percent level at $1,176.A rise to $1,210 could signal a break above the ...
US corn, soy ease after rally; record supply adds pressure SINGAPORE: Chicago corn and soybean prices slid on Friday as record US harvesting nears completion, with both markets giving up some of last session's gains driven by strong demand and slower farmer sales. Wheat also dipped, tracking declines in corn, although losses were limited by harsh weather threatening crops in Russia and the United States. Corn jumped almost 3 percent on Thursday after dropping to a two-week low earlier in the session as falling prices ...
LME copper neutral in $6,600-$6,680 range SINGAPORE: LME copper looks neutral in a range of $6,600-$6,680 per tonne, and an escape will point a direction. The range has been defined by two trendlines of a triangle. Wave pattern suggests that this pattern could be bullish, as an upward wave C that developed from the Nov. 13 low of $6,590 seems to be incomplete. However, due to the complex structure of this wave, it could be hard to time the break above ...
LME aluminium remains neutral in $2,008-$2,035 range SINGAPORE: LME aluminium remains neutral in a range of $2,008 - $2,035 per tonne, and an escape will point a direction. The range has been formed by the 38.2 percent and the 23.6 percent Fibonacci retracements on the rise from the Oct. 16 low of $1,893.50 to the Nov. 6 high of $2,078.75. The gain on Nov. 20 could be categorized as a rebound or a continuation of the preceding uptrend that developed from $1,893.50.A ...
Shanghai copper may break resistance at 47,280 yuan SINGAPORE: Shanghai copper third month may break a resistance at 47,280 yuan per tonne, and then rise into a range of 47,450-47,610 yuan.The wave pattern suggests copper is riding on a wave c, the third wave of a three-wave cycle that developed from the Nov. 5 low of 46,510 yuan, and it is capable of traveling to 48,130 yuan, the 100 percent Fibonacci projection level.The immediate resistance is at 47,280 yuan, the 38.2 percent level. ...
Palm oil to bounce to 2,256 ringgit SINGAPORE: Palm oil is expected to rebound to 2,256 ringgit per tonne, as it will continue to consolidate within a triangle. After touching the lower trendline of the pattern, about 2,213 ringgit, palm oil has been bouncing up towards the upper trendline resistance around 2,256 ringgit. Wave pattern suggests the current bounce could be driven by a wave c, the third wave of a three-wave cycle that rose from the Nov. 7 low of 2,193 ...


Index Closing Chg%
Arrow DJIA 17,810.06 0.51
Arrow Nasdaq 4,712.97 0.24
Arrow S&P 2,063.50 0.52
Arrow FTSE 6,750.76 1.08
Arrow DAX 9,732.55 2.62
Arrow CAC-40 4,347.23 2.67
Arrow Nikkei 17,357.51 0.33
Arrow H.Seng 23,437.12 0.37
Arrow Sensex 28,334.63 0.95

Banking Review 2013

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-2.380 bln
Exports $2.181 bln
Imports $4.561 bln
WeeklyNovember 13, 2014
Reserves $13.268 bln