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NY cocoa may test resistance at $3,142 SINGAPORE: New York September cocoa may test a resistance at $3,142 per tonne, a break above which will lead to a further gain to $3,174.The resistance has been formed around the 38.2 percent Fibonacci projection level of a presumed wave c starting at the June 25 low of $3,040. The big gain on July 21 signals a resumption of the wave c. A rise above the July 3 high of $3,149 will confirm the break above the resistance.A correction from the current level may be limited to $3,107, but a deeper fall below this level could indicate bulls have not prepared themselves for testing the resistance.Wang Tao is a Reuters market analyst for commodities and energy technicals. 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 ...

China iron ore, steel extend losses to hit 1-month lows SINGAPORE: Steel and iron ore futures in China fell to one-month lows on Monday, stretching steep losses from the prior session, weighed down by slow demand that has kept steel traders from replenishing inventories and iron ore stocks at ports high.Stocks of five major steel products held by Chinese traders fell to 13.13 million tonnes on Friday, according to industry consultancy Mysteel. That is the lowest inventory level since December 2012, said Helen Lau, analyst ...
Palm falls as weak soy, strong ringgit drag; exports support KUALA LUMPUR: Malaysian palm oil futures edged down on Monday, adding to losses after three straight weeks of declines, as weakness in comparative soyoil markets and a firm ringgit weighed, although an uptick in export data curbed the fall.Cargo surveyor Intertek Testing Services reported that exports of Malaysian palm oil products during July 1-20 rose 7.8 percent to 868,843 tonnes from a month ago, due to bigger shipments to Europe and China. Exports to China ...
LME copper to fall to $6,891 SINGAPORE: LME copper is expected to fall to $6,891 per tonne, as it has broken below a support at $7,025. The support was provided by the 61.8 percent Fibonacci retracement on the fall from the Jan. 2 high of $7,460 to the March 19 low of $6,321. The next support will be at $6,891, the 50 percent retracement. The fall seems to have accelerated, as indicated by the big loss on July 18, as a ...
Spot gold to hover above $1,305 SINGAPORE: Spot gold has found a support at $1,305 per ounce, and may hover above this level for half or one trading session before falling more.The support has been identified as the 38.2 Fibonacci retracement on the rise from the June 3 low of $1,240.61 to the July 10 high of $1,345. Wave pattern indicates gold is riding on a powerful wave (3), the third wave of a big bearish five-wave cycle.A drop to $1,300 ...
LME aluminium neutral in $1,961-$1,999 range SINGAPORE: LME aluminium looks neutral in a range of $1,961-$1,999 per tonne and an escape will point a direction. The range has been formed by the 76.4 percent and the 100 percent Fibonacci projection levels of an upward wave c, which developed from the June 12 low of $1,836. A drop below $1,961 may signal a reversal of the uptrend and a bearish target at $1,937, the 61.8 percent retracement, will be established. A rise ...
Shanghai copper to retest support at 49,260 yuan SINGAPORE: Shanghai copper is expected to retest support at 49,260 yuan per tonne, a break below which will lead to a further loss to 48,710 yuan.The support is provided by the 50 percent Fibonacci retracement on the rise from the June 9 low of 46,940 yuan to the July 4 high of 51,580 yuan.The next support will be at 48,710 yuan, the 61.8 percent retracement.The depth of the fall from 51,580 yuan signals a reversal ...

 



 
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Annual2012/13
Foreign Debt $60.9bn
Per Cap Income $1,368
GDP Growth 3.6%
Average CPI 7.5%
MonthlyMay
Trade Balance $-1.558 bln
Exports $2.117 bln
Imports $3.675 bln
WeeklyJuly 10, 2014
Reserves $14.638 bln