The document summarizes commodity market performance for the day. It reports that oil prices rose to a 2.5 year peak on positive US jobs data, while gold and copper prices fell. US unemployment fell to 8.8% while non-farm payrolls were stronger than forecast. The document also provides the technical outlook and resistance/support levels for various commodities like gold, silver, copper, crude oil, and others. Upcoming economic data releases are also listed.
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MARKET WRAP
Oil rises to 2-1/2 yr peak on job rise
U.S. March nonfarm payrolls stronger than forecast
U.S. jobless rate hit a two-year low of 8.8 percent
Gold slips on U.S. jobs data
Silver gained 0.2 percent to $37.69 an ounce.
Copper ended lower on Friday
LME copper stocks fell by 1,000 tonnes on Thursday
Gold slipped on Friday as an encouraging U.S. jobs report boosted the dollar, though
euro zone debt worries and unrest in the Middle East lifted bullion off lows. Copper
ended lower on Friday, building upon the 2.4-percent loss recorded in the first quarter,
as a lull in Chinese buying and a rising trend in inventories continued to reflect near-
term demand weakness. Oil prices jumped on Friday, as supportive U.S. jobs data
reinforced economic growth expectations and Libya's conflict and Middle East unrest
kept supply threats in focus, pushing both Brent and U.S. crude to their highest
settlements since 2008.
ECONOMIC CALENDAR
Date Time Currency Economic Data Forecast Previous
Mon 2:00pm EUR Sentix Investor Confidence 16.1 17.1
Apr 4
2:30pm EUR PPI m/m 0.7% 1.5%
7:00pm USD FOMC Member Evans Speaks
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ALUMINIUM(APR)
Trend • Consolidate
Strategy • Buy on dips
•R2 - 121.3
Resistance
•R1 - 118.5
•S1 - 116.3
support
•S2 - 113.5
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