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Dollar hits high vs European rivals |
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Dollar advanced against its major European counterparts. On the other hand, the dollar slipped against the yen due to across the board rallying of the latter.
U.S Commerce Department is due to release its report on factory goods orders for September . Orders for manufactured goods are likely to have increased 0.9% in the month.
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The US currency edged up against its Swiss counterpart during Tuesday's early trading. The dollar-franc pair hit as high as 1.0238, compared to 1.0218 hit late Monday in New York. If the dollar climbs further, 1.03 is seen as the next upside target level.
The dollar rose to 1.4756 against the euro and 1.6337 against the pound with 1.468 and 1.625, seen as the next upside target levels respectively. The greenback closed Monday’s deals at 1.4777 against the European currency and 1.6410 against the pound.
Elsewhere, the dollar tumbled against the yen during this time period and hit as low as 90.08. This may be compared with Monday's close of 90.23. On the downside, 89.2 is seen as the next target level for the dollar-yen pair.
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| Technical Calls |
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Gold price will double $1,150: Jim Rogers |
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The most bullish investor on gold these days seems to be the global commodities investor Jim Rogers. Rogers, based in Singapore, and a big investor in the Chinese commodities market says, gold price should double the current $1,150 per ounce level. |
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Gold price to average $1,140: Barclays Capital |
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Barclays Capital says gold prices will average $1,140 per ounce in 2010, says Barclays Capital. "We expect prices to maintain their upward momentum through to at least the first half of 2010, where we expect prices to average $1,140 in the second qu |
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Silver in great demand as gold price soars |
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Thus the bull market may have put gold out of reach for many consumers. And that may account for some of the renewed interest in "the poor man's gold" – silver. Since Monday this week, silver has made its first significant break-out move – relative t |
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Crude oil futures continued to trade down in mid London trade Friday as the US dollar strengthened against the major currencies apart from a dip in the global equities. |
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Gold futures fell in negative zone as dollar gathered some strength in mid London trades. Dollar typically strengthens when there are less data releases from US. |
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MCX Comdex was up by 2.35% to 2694.17. MCX Energy was down by 0.22% to 2651.55, MCX Metal was up by 3.70% to 3226.02 and MCX Agri was up by 4.84% to 2255.10. |
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