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Global News

 
 
  Gold eases on profit taking
  Gold prices edged down in early Asian trade Monday as investors took profits from earlier gains ahead of a massive US economic stimulus package
 
  Oil remains steady in Asian trade
  Oil prices remained steady in Asian trade Monday ahead of a proposed $780 billion stimulus plan in the US.
 
  Paul Volcker: Master of Financial Universe
  Chairman Volcker historically has defined the economic condition we are in as the Mother of Financial Crises. MOTHER OF ALL. Chairman Volcker historically has said that the US dollar will decline as long as no policies are put in place with the proven capacity to change deficits towards surpluses.
 
  Gold ratios and the bullish trend in gold shares
  The ratio of gold prices to many of the commodities, and the averages, is at more than a 10-year extreme which is unsustainable. In fact  it could be a drag on gold prices.It is a buyer's market for  gold shares as they are factoring in a gold price of less than $800.
 
  French trade deficit hits $71.4 bn last year
  Trade deficit of France hit 55.7bn euros ($71.4bn ) in 2008, due to high oil prices and the slowing economy, according to country’s the customs office.
 
  OPEC crude rises above $42 a barrel
  Organization of the Petroleum Exporting Countries (OPEC) on Friday said the price for oil produced by its member countries rose to $42.05 a barrel Thursday.
 
  Iraq to sign oil deal with Iran
  Former archrivals, Iran and Iraq might sign an oil deal within two weeks to develop oil and gas fields in both the countries.
 
  Oil eases below $41 in Asian trade
  Oil prices reversed trends in early Asian trade Friday and fell below $41 a barrel on concerns of lower energy demand ahead of a key US data report.
 
  Gold slides on profit taking
  Gold prices eased in Asia mainly on profit taking by speculators despite record high exchange-traded fund holdings underlined strong investor interest amid continuing turmoil in the financial sector.
 
  Global cotton council sees 21 % drop in trade
  International Cotton Advisory Council (ICAC) on Thursday said it expects world cotton trade to drop by 21 per cent to 6.6 million tons in 2008/09.
 
  Rain comes as relief to soybean crop in Argentina
  The rainfall early this week in Argentina has provided an ease for the drought stricken soybean growing regions, but the soil is needed to be wet more in order to achieve the output target.
 
  Oil eases near $40 a barrel in Asia
  Oil eased in afternoon Asian trade Thursday as rising crude inventories and poor corporate results suggested the worst US recession in decades could be deepening.
 
  Gold slightly down on profit taking
  Gold prices were marginally down in early Asian trade Thursday mainly on profit selling by some investors.
 
  Oil remains steady in Asian trade
  Oil prices remained steady in early Asian trade Thursday after a US Energy Department report showed fuel inventories jumped more than twice the amount expected.
 
  CFTC to launch monthly report for transparency
  CFTC has launched a new monthly report: “This Month in Futures Markets.” that  will add transparency to the information the Commission provides the public concerning regulated futures markets by providing graphical and tabular displays on its site.
 
  Gold edges above $900 in European trade
  Gold prices rose above $900 in early European trade Wednesday on expectations of positive key rates announcements from European central banks and a key jobs data from the US.
 
  China hikes textile export tax rebates
  In an effort to support its struggling textile industry, China on Wednesday decided to increase export tax rebates for textile and garment makers to 15 percent from 14 percent.
 
  CME Jan trading volume dips by 41 percent
  World's largest and most diverse derivatives exchange, Chicago Mercantile Exchange on Tuesday said its trading volume in January decreased 41 percent year-on-year.
 
  Oil slightly up in Asian trade
  World oil prices advanced in early Asian trade Wednesday after OPEC comments about more output cuts to boost prices.
 
  Waning demand troubles US ethanol industry
  The ethanol industry in US is under pressure as the persistent decline in the crude oil prices waned the demand for the commodity amid rising ethanol inventories.
 
  Gold extends slide in Asia
  Gold prices continued to tumble in Asia mainly on fund selling.
More>>

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     Market Pulse
 
 
MCX Weekly Report: Comdex dips by 0.01%
  MCX Comdex was down by 0.01% to 2689.15, MCX Energy was down by 0.83% to 2682.40 and MCX Metal was up by 1.23% to 3249.78.
 
NCDEX turmeric moves up on firm demand
  Turmeric futures moved sharply up Friday on the back of lower stock piles and higher demand in the spot market.
 
MCX gold slips on weak global cues
  Gold futures in the domestic exchange witnessed a decline Friday in tandem with weak global market sentiments driven by strength in the US dollar.
More> 
    Technical Calls  
  Gold to explode too much higher levels
  Right now gold is range bound as you can see on the preceding chart, but the tertiary trend is still headed higher. The key will be a higher high above the upper band of resistance at 1,148.90 and then it is off to the races.
  Kapas futures positive on short covering
  The most Active April NCDEX Kapas futures traded in a range of 625 to 633.4 levels and ended the session at 626.6 levels with a negative change of -1.04 per cent.
  Maize range bound, no fresh fundamentals to trigger
  The March NCDEX futures traded in the range of 886.5 to 893 levels and ended the session at 887.5 levels
More> 
    FOREX Reports  
  Outlook : Major currencies vs dollar
  Fall below 1.3640, though a bearish sign, still holds hope for a rise towards 1.3855or even higher. Crucial support is at 1.3530 and as long as this level remains undisturbed, we favor a rise again towards 1.3800 or even higher. Fall below 1.3520 will force us to abandon our bullish view.
  US automakers against Yen, Won depreciation
  .S. automakers urged Congress to challenge Japan and South Korea on the issue of currency devaluation, which influences export prices. South Korea has recently made moves to depreciate the value of the won, while Japanese officials said they were prepared to keep the yen from appreciating
  Asian currencies fall vs dollar
  South Korea’s won and the Taiwan dollar dropped Thursday on speculation central banks will seek to limit appreciation that may hurt exports.
More> 
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