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Gold traded flat while base metals remained mostly steady ahead of releasof US non farm payrolls. Crude oil was hovering near the recent highs,leading towards to register gains for second consecutive week. Dollarstrengthened against the basket of six currencies while euro slipped versus
dollar on persisting debt problems in Euro Zone and on expected strong employment figures from US. The IMF Executive Board is expected to approve today the first installment of 3 billion Euros from the bailout loan of 12 billion Euros for Greece.
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Earlier today the German data released shows that
the exports have increased considerably to 4.3 percent. Markets wait for the
key US employment data which will released later today. The labor market is
expected to show an optimistic trend, as payrolls are likely to be higher
than the forecasted amount
A daily technical report on bullion, base metals and energy that aims to
help investors identify the best trading strategy to be adopted in the
evening trades in MCX. The report also gives a brief review of the key
events in International and domestic markets in the day so far.
Additionally, the price updates of major domestic as well as International
markets along with snapshot of the major economic events scheduled for the
evening seeks to prepare the investor prior to opening of US markets. The
report is unique in its focus on evening trades.
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