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MARKET WRAP
Oil slips on OPEC hike possibility trading near 98$
The dollar recovered against the euro
Gold steady near one-month highs
Copper steadied on Tuesday
Silver recovered sharply late night
Copper fell by nearly 1 percent on Wednesday in London, New York and Shanghai, with
international markets reversing early gains as the dollar recovered from a one-month low
hit after a bleak assessment of the U.S. economy by Fed officials. Gold prices were
steady on Wednesday, supported by a weaker dollar after U.S. Federal Reserve
Chairman Ben Bernanke acknowledged slowing economic growth momentum but gave
no hint on further stimulus.
ECONOMIC CALENDAR
Date Time Currency Economic Data Forecast Previous
Wed 12:30am USD Consumer Credit m/m 5.2B 4.8B
Jun 8
1:15am USD Fed Chairman Bernanke Speaks
6:30am USD FOMC Member Dudley Speaks
All Day ALL OPEC Meetings
8:00pm USD Crude Oil Inventories -1.4M 2.9M
11:30pm USD Beige Book
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ALUMINIUM(JUNE)
Trend • Consolidate
Strategy • Buy on dips
•R2 - 123.5
Resistance
•R1 - 120.9
•S1 - 117.7
support
•S2 - 113.5
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