Weak US retail sales data kept the dollar confined in a short-term holding pattern as we await Chairman Bernanke's semi-annual congressional testimony tomorrow. We do not expect any additional dovish surprises from Bernanke. The Fed's policy will be data dependent. We believe that the US recovery is real, and this will lead to the tapering of asset purchases beginning in September.
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Tuesday, 16 July 2013
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sell lead 120.75 2nd lot @122.50 target 118/113
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Monday, 15 July 2013
crude oil tips
crude oil 1st target achieved
silver tips
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gold tips
gold 2nd target achieved
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gold 1st target achieved
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sell silver@41450 target 41000/40800
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sell crude 6325-6340 target 6280/6250/6220
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