Commodities Evening Update

Wednesday | August 29, 2013

International Commodities

Content
Days overview Market Highlights Outlook Important Events for Today

Research Team
Reena Rohit Chief Manager Non-Agri Commodities and Currencies Reena.rohit@angelbroking.com (022) 2921 2000 Extn :6134 Anish Vyas Research Analyst anish.vyas@angelbroking.com (022) 2921 2000 Extn :6104

Angel Commodities Broking Pvt. Ltd. Registered Office: G-1, Ackruti Trade Centre, Rd. No. 7, MIDC, Andheri (E), Mumbai - 400 093. Corporate Office: 6th Floor, Ackruti Star, MIDC, Andheri (E), Mumbai - 400 093. Tel: (022) 2921 2000 MCX Member ID: 12685 / FMC Regn No: MCX / TCM / CORP / 0037 NCDEX : Member ID 00220 / FMC Regn No: NCDEX / TCM / CORP / 0302

Disclaimer: The information and opinions contained in the document have been compiled from sources believed to be reliable. The company does not warrant its accuracy, completeness and correctness. The document is not, and should not be construed as an offer to sell or solicitation to buy any commodities. This document may not be reproduced, distributed or published, in whole or in part, by any recipient hereof for any purpose without prior permission from Angel Commodities Broking (P) Ltd. Your feedback is appreciated on commodities@angelbroking.com

Commodities Evening Update

Wednesday | August 29, 2013

International Commodities
News and Analysis Indian Rupee appreciated more than 2 percent in todays trade. German Unemployment Change rose to 7,000 in the month of July. US GDP estimated to rise in the second quarter of 2013. European equities are trading higher today ahead of the estimates of rise in the US Gross Domestic Product (GDP) data. Asian markets ended on a positive note and US stock futures trading on a flat note. Indian Rupee appreciated by more than 2 percent today on the back of measures taken by the Reserve Bank of India (RBI) of creating swap window for buying dollars for OMCs. This has eased the dollar demand from importers and oil companies in forex market providing support to free fall in Rupee from previous sessions. German Unemployment Change rose to 7,000 in July as against a decline of 7,000 in June. European Retail Raw Materials Price Index (RMPI) gained by 0.8 points to 50.3-mark in August from 49.5-level in July. Spot gold prices declined around 0.3 percent today on the back of strength in the US Dollar Index (DX). However, sharp downside in prices was capped as result of rise in SPDR gold holdings coupled with upbeat global market sentiments. In the Indian markets, appreciation in the Rupee exerted downside in prices on the MCX. Taking cues from fall in gold prices along with downside in base metals complex, Spot silver prices fell around 0.6 percent today. Further, strength in the DX along with weak market sentiments acted as a negative factor for prices. On the domestic bourses, appreciation in the Rupee added downside pressure on prices. The base metals group was trading on a negative note today on the back of stronger DX. Further, unexpected rise in German unemployment data exerted downside pressure on prices. However sharp decline was cushioned due to mixed LME inventories along with upbeat global markets. LME Copper prices slipped around 0.1 percent as a result of strength in the DX. Further, rise in LME Copper inventories by 0.5 percent which stood at 577,675 tonnes exerted downside pressure on prices. Appreciation in the Rupee capped sharp gains in prices on the MCX. Nymex crude oil prices traded on a negative note today on account of rise in US crude stockpiles in yesterdays trade. Strength in the DX further added downside pressure. However, sharp downside was prevented due to supply concerns surrounding the US military action on Syria. In the Indian markets, crude oil prices declined on the back of appreciation in the Rupee. Performance during the day
Index Nifty Sensex Nikkei Kospi FTSE Open High

as at 4.30 pm 29 August 13
Low Last % Chg from Prev day

5316.50 18073.66 13382.95 1892.03 16826.00

5428.90 18455.66 13463.14 1914.90 16925.69

5303.00 18071.22 13364.82 1891.59 16742.05

5409.05 18401.04 13459.71 1907.54 16742.05

2.35 2.25 0.91 1.22 0.22

Source: Reuters

as at 4.30 pm 29 August 13
Currency Dollar Index Euro/$ Spot INR/$ Spot Open High Low Current % Chg from Prev day

81.50 1.3338 66.91

81.96 1.3343 67.87

81.42 1.3241 66.85

81.885 1.3257 67.04

0.52 -0.61 -2.56

Source: Reuters

as at 4.30 pm 29 August 13
Commodity Spot Gold Comex Gold Oct13 MCX Gold Oct13 Spot Silver Comex Silver Sept13 MCX Silver Sept13 Crude Oil Nymex Oct 13 ICE -Brent Crude Oil MCX Crude Oil Sep 13 Copper LME - 3 Month MCX Copper Aug13 Zinc LME - 3 Month Zinc MCX - Aug13 Lead LME - 3 Month Lead MCX - Aug13 Nickel LME - 3 Month Nickel MCX Aug13 Aluminum LME - 3 Month Aluminum MCX Aug13 Unit Open High Low Last % Chg from Prev day

$/oz $/oz Rs/10 gms $/oz $/oz

1417.44 1410.00 33564.00 24.32 0.24355 55951 109.53 115.86 7342 7263.50 484.00 1955.00 128.40 2215 147.60 14200 947.00 1861.00 122.15

1417.91 1411.20 33862.0 24.38 0.24355 56682 109.74 116.13 7482 7294.25 495.30 1955.75 130.60 2225 150.00 14269 961.00 1867.50 123.90

1404.86 1406.70 33300.0 23.65 0.2366 55235 108.60 114.94 7342 7226.00 484.00 1935.00 127.80 2192 147.30 14089 942.60 1848.00 121.10

1413.66 1410.20 33398.00 24.19 0.242 55445 109.47 115.97 7386 7264.00 489.00 1945.00 128.05 2205 147.60 14142 944.10 1852.00 121.20

-0.28 -0.62 -0.02 -0.62 -0.77 -0.59 -0.57 -0.55 0.53 -0.03 1.00 -0.56 0.12 -0.41 0.65 -0.58 0.31 -0.63 0.46

Rs/kg $/bbl

$/bbl Rs/bbl $/tonne Rs/kg $/tonne Rs/kg $/tonne

Rs/kg $/tonne Rs/kg $/tonne Rs/kg

Source: Reuters

Commodities Evening Update

Wednesday | August 29, 2013

International Commodities
Outlook In the evening session, we expect precious metals, base metals and crude oil prices to trade lower on the back of strength in the DX. Further, downside in prices will be seen as a result of estimates of rise in US GDP data showing signs of economic growth which will lead to concerns of QE tapering from the Federal Reserve. However, sharp downside in prices will be cushioned on account of optimistic global market sentiments.

Technical Outook for evening session 29 August 13 ( CMP as of 4.30 pm)

Commodity Gold Oct'13 Spot Gold Silver Sept13 Spot Silver Crude Oil Sep13 Nymex Crude Oil Oct13 Natural Gas Aug13 LME Copper Copper Aug13 Zinc Aug13 Lead Aug13 Aluminum Aug13 Nickel Aug13 Unit Rs/10 gm $/oz Rs /kg $/oz Rs /bbl $/bbl Rs /mmBtu $/tonne Rs /kg Rs /kg Rs /kg Rs /kg Rs /kg Support 2 Support 1 CMP Resistance1 Resistance 2

32700 1389 53850 23.35 7175 107.2 232 7160 473 125 143.8 118 923

33180 1400 54800 23.65 7280 108.3 236 7210 483 126.7 145.8 120 937

33430 1410 55406 24.03 7384 109.27 243 7250 489.2 128.35 148 121.4 945.6

33770 1421 56700 24.54 7480 110.2 247 7290 494 130.5 150 123.8 960

33970 1430 57700 24.88 7650 111.4 253 7325 502 132.75 152.7 125.7 981

Important Events for Today

Indicator Country Time (IST) Actual Forecast Previous Impact

Retail Sales y/y German Prelim CPI m/m German Unemployment Change Italian 10-y Bond Auction Prelim GDP q/q Unemployment Claims FOMC Member Bullard Speaks

Japan Euro Euro Euro US US US

5:20am All day 1:25pm 2:40pm 6:00pm 6:00pm 6:20pm

-0.3% 7K 4.46/1.5 -

0.0% 0.2% -5K 2.2% 330K -

1.6% 0.5% -7K 4.46/1.3 1.7% 336K -

Medium Medium Medium Medium High High Medium