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NY coffee may retest resistance at $1.1880 SINGAPORE: New York December coffee may retest a resistance at $1.1880 per lb, as a temporary bottom could have formed around the Aug. 23 low of $1.1635.The consolidation above this low has taken a time long enough for a bottom to form. This is especially so after coffee briefly pierced above the resistance at $1.1880 - the 23.6 percent Fibonacci retracement on the downtrend from the Aug. 14 high of $1.2680 to $1.1635.A break above $1.1880 will lead to a further gain to $1.2035, the 38.2 percent retracement.Support is at $1.1635, a valid break below which will only be confirmed when coffee drops below its Aug. 30 low of $1.1610.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 ...

Bangladesh tenders to import 50,000 tonnes of wheat DHAKA: Bangladesh's state grain buyer issued an international tender on Wednesday to buy 50,000 tonnes of wheat, the third for the financial year started in July.The deadline to submit offers is Sept. 19, with validity up to Sept. 30, and the wheat is to be shipped in 40 days of signing the contract, a senior official at the purchasing agency said.The state agency plans to import 850,000 tonnes of wheat in the current financial year. ...
NY cocoa to approach $2,451 before dropping to $2,392 SINGAPORE: New York December cocoa may approach resistance at $2,451 again before breaking support at $2,392 per tonne and falling towards $2,344.A sideways move from the Aug. 30 low of $2,406 may be shaped into a complicated flat pattern.This pattern will consist of three waves labelled a, b and c, with the current wave c to progress towards $2,451, the 23.6 percent Fibonacci retracement on a five-wave cycle that developed from the June 28 low ...
Copper drifts as Syria dents risk appetite, growth hopes support SINGAPORE: London copper prices edged lower on Wednesday, hurt by receding appetite for risk as an air strike on Syria looked more likely, but supported by signs the global economy is finally getting on track.Improved prospects for global growth after a string of upbeat factory activity reports led by the China and the United States have brightened the outlook for metals demand, helping lift copper from three-week lows last week.But potential upheaval in the Middle ...
CBOT soybeans to drop to $13.51 SINGAPORE: The CBOT soybean contract for November delivery is expected to drop to support at $13.51 per bushel as it either has not completed a correction from the Aug. 27 high of $14.09-1/2 or is forming a double-top pattern around this level.A Fibonacci retracement analysis on the rise from the Aug. 7 low of $11.62-1/2 to $14.09-1/2 reveals support at $13.51, the 23.6 percent level, which has triggered a sharp bounce towards $14.09-1/2.The bounce could ...
Gold holds up as Obama garners support for Syria strike SINGAPORE: Gold clung to gains made in the previous session on sporadic safe-haven buying as US President Barack Obama won support from key Congressmen for a limited strike against Syria.Obama secured the backing of Republicans John Boehner and Eric Cantor in his call for limited US strikes on Syria to punish President Bashar al-Assad for his suspected use of chemical weapons against civilians.Leaders of the US Senate Foreign Relations Committee said they reached an agreement ...
Palm oil edges lower, but firm exports cap losses SINGAPORE: Malaysian palm oil futures edged lower on Wednesday, tracking the US soy market that dropped after a US Department of Agriculture report showed yields were not worse than expected.Palm oil tracks soy prices as it is a substitute for soybean oil. But losses in the tropical oil were curbed by data showing August exports from Malaysia rose as much as 7.6 percent from a month ago, helped by higher purchases from Europe and China.Investors ...


Index Closing Chg%
Arrow DJIA 17,195.42 1.30
Arrow Nasdaq 4,566.14 0.37
Arrow S&P 1,994.65 0.62
Arrow FTSE 6,463.55 0.15
Arrow DAX 9,114.84 0.35
Arrow CAC-40 4,141.24 0.74
Arrow Nikkei 15,658.00 1.67
Arrow H.Seng 23,702.04 1.49
Arrow Sensex 27,346.33 0.92

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Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-19.98 bln
Exports $25.13 bln
Imports $45.11 bln
WeeklyOctober 27, 2014
Reserves $13.464 bln