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China steel, iron ore hold near 7-week highs after firm GDP SINGAPORE: Steel and iron ore futures in China steadied near seven-week highs on Wednesday after data showed the Chinese economy grew slightly faster than expected in the second quarter.Both commodities rose to their highest level since late May on Tuesday ahead of the data on expectations that China would continue with stimulus measures, including infrastructure spending, to aid growth.The world's No. 2 economy expanded 7.5 percent in April-June, quicker than the 7.4 percent that economists had predicted, although they said further state support is likely needed to meet the government's growth target this year.Oil, copper and other industrial commodities along with equities were also largely steady after the data was released.The most-active rebar contract for January delivery on the Shanghai Futures Exchange was unchanged at 3,144 yuan ($510) a tonne by midday. The contract peaked at 3,155 yuan on Tuesday, its highest since May 28.Iron ore for September delivery on ...

Shanghai copper to fall to 49,810 yuan SINGAPORE: Shanghai copper is expected to drop to a support at 49,810 yuan per tonne, a break below which will lead to a further loss to 49,260 yuan.The support is provided by the 38.2 percent Fibonacci retracement on the rise from the June 9 low of 46,940 yuan to the July 4 high of 51,580 yuan.It will temporarily block the way towards the next support at 49,260 yuan, the 50 percent level.Resistance will be at ...
Gold below $1,300 on stronger dollar, interest rate fears SINGAPORE: Gold steadied after two days of losses on Wednesday but held below $1,300 an ounce, near a four-week low, on a stronger dollar and fears that the Federal Reserve could hike US interest rates sooner than expected.Fed Chair Janet Yellen said on Tuesday the US central bank could raise rates earlier or faster if hiring and wages take off in an unexpected way, though she signalled that the Fed will keep monetary policy loose ...
Palm oil to retest support at 2,298 ringgit SINGAPORE: Palm oil may retest support at 2,298 ringgit per tonne, as it could have completed a rebound triggered by this level. The support is provided by the 100 percent Fibonacci projection level of a downward wave 3, which started at the July 7 high of 2,424 ringgit. This wave has a fierce character and may eventually extend to 2,220 ringgit, its 161.8 percent projection level. A break above 2,328 ringgit will indicate the continuation ...
Corn rises after sliding to contract low; soy ticks up SINGAPORE: US new-crop corn futures rose on Wednesday, taking a breather after sharp recent falls that pushed them to a contract low in the previous session, though expectations of near-record production in the United States kept a lid on prices. Soybeans rose as Chinese buying underpinned the market while wheat rose on bargain buying. Chicago Board Of Trade December corn gained 0.7 percent to $3.84-1/4 a bushel by 0246 GMT, having slid 1.7 percent in ...
Vietnam rice prices hit nearly 7 month high HANOI: Prices for Vietnamese low-quality 25-percent broken rice rose around 5 percent this week to $385-$390 a tonne, the highest in nearly seven months, due to limited supply and regional buying, traders said on Wednesday. "China has resumed buying across the land border in the past week, while exporters also need to buy grain in domestic markets for loading to the Philippines and Malaysia," said a Vietnamese trader in Ho Chi Minh City. Prices of ...
Spot gold to rebound to $1,305 SINGAPORE: Spot gold may rebound moderately to $1,305 per ounce, due to the completion of a five-wave cycle.The cycle could be well divided into five small waves. More convincingly, the final wave, the wave 5, seems to have bottomed around a key support at $1,293, the 50 percent Fibonacci retracement on the rise from the June 3 low of $1,240.61 to the July 10 high of $1,345.This cycle marks the beginning of a medium-term downtrend, ...


Index Closing Chg%
Arrow DJIA 17,083.80 0.02
Arrow Nasdaq 4,472.11 0.04
Arrow S&P 1,987.98 0.05
Arrow FTSE 6,821.46 0.34
Arrow DAX 9,794.06 0.42
Arrow CAC-40 4,410.65 0.78
Arrow Nikkei 15,284.42 0.29
Arrow H.Seng 24,141.50 0.71
Arrow Sensex 26,271.85 0.48

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