The document summarizes commodity market news from March 16, 2011. It reports that commodities fell across the board due to fears over Japan's nuclear crisis. Gold slid over 2% but recovered from lows. Oil prices declined due to risk aversion related to Japan's crisis and unrest in Bahrain and Libya. Copper sank to a 3-month low. The document also provides the day's economic calendar, a technical analysis of various commodities, and a disclaimer.
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MARKET WRAP
Commodities tumble across the board
Gold slides as Japan crisis slams markets
Oil falls on Japan worry
Copper sinks to 3-month low
Silver recovers after sharp fall
Gold prices fell more than 2 percent on Tuesday, but were well off their lows, as rising
fears over Japan's nuclear crisis hit global financial markets, prompting a flight to liquid
assets like cash. Oil prices fell on Tuesday as Japan's nuclear crisis following last
week's earthquake sparked risk aversion, while unrest in Bahrain and Libya helped pull
prices off lows. Copper fell to a three-month low on Tuesday, after a mounting
emergency at a quake-stricken nuclear plant in Japan sparked a slide across financial
markets.
ECONOMIC CALENDAR
Date Time Currency Economic Data Forecast Previous
Wed 6:00pm USD Building Permits 0.58M 0.56M
Mar 16
6:00pm USD PPI m/m 0.7% 0.8%
6:00pm USD Core PPI m/m 0.2% 0.5%
6:00pm USD Current Account -111B -127B
6:00pm USD Housing Starts 0.58M 0.60M
8:00pm USD Crude Oil Inventories 1.8M 2.5M
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ALUMINIUM(MAR)
Trend • Consolidate
Strategy • Sell on high
•R2 - 117.7
Resistance
•R1 - 114.8
•S1 - 111.5
support
•S2 - 108.7
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