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Market Commentary By SMC
September 3, 2010
 
" Debt has become a part of who we are"
- Dave Ramsey
 
 
IndiaNotes Blog
  Commodity_Newsletter

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News Highlight
  • GOLD IN 3-DAY RALLY AS PRICES HIT FRESH 2-MTH PEAK.
  • US OIL FALLS TO $74, HEADS FOR MONTHLY LOSS.
  • BASE METALS UP ON POSITIVE CONSUMER CONFIDENCE.
  • INDIA JEERA UP ON BARGAIN BUYING; PEPPER SLIPS.
Fundamental Review
GOLD RECOUPED LOSSES ON TUESDAY AND RALLIED FOR A THIRD DAY, HITTING TWO-MONTH HIGHS AFTER MORE DATA SUGGESTED THE U.S. ECONOMY IS RUNNING OUT OF STEAM AND A FLURRY OF END-OF-MONTH BUYING LIFTED PRICES.
BASE METALS RISES AS U.S. CONSUMER CONFIDENCE EDGED UP IN AUGUST WHILE PRICES FOR U.S. HOMES GAINED MORE THAN EXPECTED IN JUNE, PROVIDING A LITTLE RELIEF FOR THOSE CONCERNED ABOUT A SLOWDOWN IN THE ECONOMIC RECOVERY.

Today's Economic Events
Date Time Currency Economic Data Forecast Previous
Wed
Sep 01
5:00am AUD AIG Manufacturing Index 54.4
6:30am CNY Manufacturing PMI 51.6 51.2
7:00am AUD GDP q/q 0.9% 0.5%
8:00am CNY HSBC Manufacturing PMI 49.4
8:30am NZD ANZ Commodity Prices m/m -0.8%
11:30am EUR German Retail Sales m/m 0.6% -0.3%
12:00pm AUD Commodity Prices y/y 51.0%
1:00pm CHF SVME PMI 65.9 66.9
1:30pm EUR Final Manufacturing PMI 55.0 55.0
1st-7th GBP Halifax HPI m/m 0.6%
2:00pm GBP Manufacturing PMI 57.1 57.3
5:00pm USD Challenger Job Cuts y/y -57.2%
5:45pm USD ADP Non-Farm Employment Change 20K 42K
7:30pm USD ISM Manufacturing PMI 53.2 55.5
7:30pm USD Construction Spending m/m -0.4% 0.1%
7:30pm USD ISM Manufacturing Prices 55.5 57.5
8:00pm USD Crude Oil Inventories 1.3M 4.1M
8:15pm USD FOMC Member Duke Speaks
All Day USD Total Vehicle Sales 11.6M 11.5M
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