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CBOT wheat may test support at $6.58-1/2 SINGAPORE: CBOT May wheat may test a support at $6.58-1/2 per bushel, as it failed to break a resistance at $6.83-1/2.The resistance has been identified as the 38.2 percent Fibonacci retracement on the fall from the March 20 high of $7.23-1/2 to the April 4 low of $6.58-3/4. Wheat's failure to overcome this barrier indicates a resumption of the preceding downtrend that developed from $7.23-1/2.The support is provided by the 38.2 percent Fibonacci retracement on the rise from the Jan. 30 low of $5.53-1/2 to $7.23-1/2, a break below which will open the way towards the 50 percent level at $6.38-1/2.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 ...

CBOT soybeans target $14.63-3/4 SINGAPORE: CBOT soybeans May contract is due for a deep drop as it may have completed a wave C that developed from the Nov. 5, 2013 low of $12.24.The final component wave of the wave C, the wave 5, could have peaked at the Wednesday high of $15.12, slightly above a resistance at $15.04-1/2, the 161.8 percent Fibonacci projection level of the wave C. The bearish divergence on the daily RSI strongly suggests the exhaustion ...
China coal prices now close to bottom SHANGHAI: Chinese coal prices are now close to their bottom after a long decline brought about by slowing demand and excess supply, an executive with a leading Chinese coal firm said on Thursday. "I think prices are bottoming out and are unlikely to fall a lot more given the sector-wide losses and rising costs," said Gong Qingchao, head of sales and executive director with the China Coal Group, China's second-biggest state coal producer. Speaking at ...
China copper imports rebound in March on term shipments HONG KONG: China's imports of copper rose 10.8 percent in March from February on expectations of increased seasonal demand through the second quarter, although shipments were still well off a record high hit in January. The resilience of imports by the world's top copper consumer could support global prices, which fell about 5 percent last month, the sharpest loss since June. On Thursday, copper traded at $6,612 per tonne, down 0.3 percent after the Chinese ...
China's March iron ore imports up 21pc from Feb SHANGHAI: China's iron ore imports surged 21 percent to 73.96 million tonnes in March from the preceding month, customs data showed on Thursday. First-quarter shipments jumped 19.4 percent to 222 million tonnes from a year earlier. Copyright Reuters, 2014 ...
Gold extends gains to 3rd day as rate hike fears ease SINGAPORE: Gold extended gains to a third session on Thursday, scaling fresh two-week highs, after minutes from the Federal Reserve's policy meeting showed that officials were not keen on increasing interest rates anytime soon.Gold prices came under pressure last month after Fed Chair Janet Yellen said the US central bank would probably end its massive bond-buying programme this fall and could start raising interest rates around six months later.Low interest rates, which cut the opportunity ...
LME aluminium to peak in $1,866-$1,885 range SINGAPORE: LME aluminium is expected to peak in a range of $1,866-$1,885 per tonne, as indicated by its wave pattern and a Fibonacci projection analysis. The metal is riding on the final wave of a five-wave cycle rising from the March 19 low of $1,704.25.These five waves have made up a bigger wave c, which may end in a range formed by its 123.6 percent and the 138.2 percent Fibonacci projection levels. Given that the ...

 



 
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Annual2012/13
Foreign Debt $60.9bn
Per Cap Income $1,368
GDP Growth 3.6%
Average CPI 7.5%
MonthlyFebruary
Trade Balance $-1.433 bln
Exports $2.167 bln
Imports $3.600 bln
WeeklyApril 14, 2014
Reserves $9.713 bln