Crude oil and gold prices increased while base metals and grains declined. Crude oil rose to $104 per barrel in London due to tensions between Israel and Iran exacerbating unrest in the Middle East. Copper extended losses as investors worried prices may have outpaced demand. The newsletter provided an economic calendar and technical analysis of commodity markets.
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MARKET WRAP
gold up as Israel, Iran add to Mideast tension
Base metals and grains down broadly
Crude oil prices ended higher on Wednesday
Crude oil prices ended higher on Wednesday after spiking to $104 a barrel in London,
and gold edged up as well, as tension between Israel and Iran accentuated the
widening unrest in the oil-rich Middle East. Copper extended losses from Tuesday as
investors continued to worry that prices may have gotten ahead of demand.
ECONOMIC CALENDAR
Date Time Currency Economic Data Forecast Previous
Thu 12:30am USD FOMC Meeting Minutes
Feb 17
12:30am USD Treasury Sec Geithner Speaks
7:00pm USD Core CPI m/m 0.1% 0.1%
7:00pm USD Unemployment Claims 401K 383K
7:00pm USD CPI m/m 0.3% 0.5%
8:30pm USD Fed Chairman Bernanke
Testifies
8:30pm USD Philly Fed Manufacturing Index 20.8 19.3
8:30pm USD Mortgage Delinquencies 9.13%
8:30pm USD CB Leading Index m/m 0.3% 1.0%
9:00pm USD Natural Gas Storage -233B -209B
10:50pm USD FOMC Member Evans Speaks
11:40pm USD FOMC Member Fisher Speaks
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ALUMINIUM(FEB)
Trend • Consolidate
Strategy • Sell on high
•R2 - 117.3
Resistance
•R1 - 115.2
•S1 - 112.5
support
•S2 - 109.6
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