Finotec News Archive - November 28 2007

Commodities News

Crude oil drop 4 pct on small supply drawdown - Both Hamli and Saudi Oil Minister Ali al-Naimi said they were not aware of any specific output proposals, dismissing news reports that Gulf ministers were considering an increase of up to 750,000 bpd.

US gold tumbles on oil drop - In overnight sessions, gold futures had touched a bottom of $791, which marked the weakest since last Tuesday, weighed by weaker crude oil prices.

Forex Pairs Daily Analysis

USD/CHF correction and buy - The target is 1.1195 at previous resistance level ,strategy to buy at 1.1090.

Eur rebounds from a week low vs. usd - but Moving averages of 10 and 20 days, the shorter after a bearish cross that helps the correction till the resistance level of 1.4775.

GBP/USD will test the 2.0850 level? - The target is 2.0850 at previous support level failure to break will be considered as a sell strategy till 2.0760 at the previous support level.

USD/JPY loosing the power - Market strategy is to sell at 110.55 failure of previous resistance level

Forex Daily Analysis

Beige book and fed vice chairman pull back dollar gains - Today there is two major data that can give us good direction where the U.S currency is pointing. The first data is the GDP q/q annualized that will be released at 13:30 GMT, according to positive analysts forecast;the data can support the green back

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Real Time Forex Calendar

Event Date

Consumer Spending m/m(EUR)	21.11.2008 07:45
Manufacturing PMI(EUR)	21.11.2008 08:00
Services PMI(EUR)	21.11.2008 08:00
Manufacturing PMI(EUR)	21.11.2008 08:30
Services PMI(EUR)	21.11.2008 08:30
Manufacturing PMI(EUR)	21.11.2008 09:00
Services PMI(EUR)	21.11.2008 09:00
Italian Retail Sales m/m(EUR)	21.11.2008 09:00
Core CPI m/m(CAD)	21.11.2008 12:00
CPI m/m(CAD)	21.11.2008 12:00

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