UAE’s Forex Focus: Key Player in Asia’s Gold Boom

November 19, 2024

The Forex newsletter for the day is here. DXY , XAUUSD , XAGUSD , COPPER , USOIL , NASDAQ , S&P 500 E-Mini , USDCHF, Dollar

DXY

Buy around 106.00
Stop loss below 105.800
Target 106.200–106.400

XAUUSD

(Yesterday given Buy around 2590 all target done)

Buy on dip around 2630
Stop loss below 2618
Target 2640–2650

XAGUSD

(Yesterday given Buy above 30.82 all target done)
Buy on around 31.35
Stop loss below 31.00
Target 31.70–32.00

USOIL

Buy around 68.80
Stop loss below 68.35
Target 69.20–69.60

COPPER (HG1)

Buy above 4.1060
Stop loss below 4.0950
Target 4.1100–4.1150

NASDAQ

Sell below 20490
Stop loss above 20700
Target 20300–20100

S&P 500 E-Mini

Buy above 5900
Stop loss below 5880
Target 5920–5940

Top pick

USDCHF

Sell around 0.88400
Stop loss above 0.88700
Target 0.88100–0.87800

Forex Newsletter – Asia’s rising demand for gold has propelled prices to record highs, with Dubai becoming the world’s second-largest gold trading hub. The UAE is central to an emerging “Asian Century” for gold, with increased trade, digital innovation, and regulatory improvements shaping the market’s future, according to the DMCC.

Until then, Happy Trading!

Commodity Samachar Securities
We Decode the Language of the Markets

Also Read: Silver price jumped over 2%—but are this rally sustainable or not? , BOE Speaks, Canada Inflation in Focus today

Want Help On Your Trades ?

Chat with RM

BOE Speaks, Canada Inflation in Focus today

November 19, 2024

BOE Speaks, Canada Inflation in Focus today

FX Update

The U.S. dollar retreated nearly half percent from multi-month peaks on Monday on expectations the Federal Reserve would slow its pace of easing, on profit-taking.

U.S. President-elect Donald Trump’s new administration is beginning to take shape with nominations to health and defense roles last week, but two key positions for financial markets, Treasury Secretary and Trade Representative, are yet to be filled.

A light data schedule in Europe and the U.S. on yesterday saw Wall Street close mixed.

Crude Oil:

Crude oil prices edged up over 2% after fighting between Russia and Ukraine intensified over the weekend, although concerns about fuel demand in China, the world’s second-largest consumer, and forecasts of a global oil surplus weighed on markets.

Gold:

Gold prices rebounded, having posted losses in the previous six sessions, with gains driven by a pause in the dollar’s rally, while investors await comments from the Federal Reserve officials for clarity on the interest rate trajectory.

Copper:

Most base metals prices were trading higher, boosted by dip-buying from physical consumers, but a strong dollar and sluggish Chinese demand capped gains.

Prices action (MCX)

Gold 75047 (+1.49%), Silver 90513 (+2.37%), Copper 804.80 (+1.21%) Crude Oil 5819 (+2.65%) Natural gas 247.80 (+4.34%).

Major Economic Data and Event scheduled today (BOE Speaks, Canada Inflation in Focus today)

Australia

At 6.00am- Monetary Policy Meeting Minutes.

Above data could have a negative impact on the dollar.

At 3.30 pm- Monetary Policy Report Hearings.

Above event could have a mixed impact on the Pound.

Eurozone

At 2.30pm- Current Account. Data is foreseen at 27.0B from previous 31.5B.

At 3.30pm-

Final Core CPI y/y. Data is foreseen at 2.7% from previous 2.7%.

Final CPI y/y. Data is foreseen at 2.0% from previous 2.0%.

Tentative – German Buba Monthly Report

Above data could have a volatile impact on the Euro.

Canada

At 7.00pm-

CPI m/m. Data is foreseen at 0.3% from previous -0.4%.

Median CPI y/y. Data is foreseen at 2.2% from previous 2.3%.

Trimmed CPI y/y. Data is foreseen at 2.4% from previous 2.4%.

Common CPI y/y. Data is foreseen at 2.1% from previous 2.1%.

Core CPI y/y. Previous 0.0%.

Above data could have a volatile impact on the Canadian dollar.

At 7.00pm-

Building Permits. Data is foreseen at 1.44M from previous 1.43M.

Housing Starts. Data is foreseen at 1.34M from previous 1.35M.

At 11.40pm- FOMC Member Schmid Speaks

Above data could have a volatile impact on the dollar.

Until then, Happy Trading!

Commodity Samachar Securities
We Decode the Language of the Markets

Also Read: Forex Focus: G20 Brazil Tackles Geopolitical Tensions , Silver price jumped over 2%—but are this rally sustainable or not?

Want Help On Your Trades ?

Chat with RM

Silver price jumped over 2%—but are this rally sustainable or not?

November 19, 2024

Silver price have paused their losing streak and rebounded by over two percent yesterday. The prices found support from two-month lows as the dollar rally stalled and investors reassessed the outlook for Federal Reserve monetary policy.

The dollar faced a wave of profit-taking following its recent rally which was driven by expectations of fewer Fed rate cuts and optimism about US economic outperformance under the incoming Trump administration.

Adding to this, the euro gained amid short-covering as a G-20 summit helped allay fears about stagnating global growth.

Chinese President Xi Jinping told Australian Prime Minister Anthony Albanese that China’s relationship with Australia has achieved a turnaround and the two countries are maintaining a positive momentum of development. Xi also announced an initiative to funnel sci-tech innovations to the Global South and called for more bridges of cooperation.

Global trade tensions add a risk to an already weak euro zone economy, European Central Bank Vice President Luis de Guindos said. Bundesbank President Joachim Nagel downplayed the global inflation impact from tariffs.

A quarter-point cut in euro zone’s interest rates by the end of the year would be reasonable, ECB policymaker Yannis Stournaras said. Investors are now waiting for more comments from Fed officials this week for further guidance on the US interest rate path.

Markets are also focused on China’s upcoming LPR decision, with hopes that the authorities will implement additional stimulus measures to boost economic growth.

China, the world’s biggest metals consumer, has experienced slowing economic growth and the government has been releasing supportive policies to revive activity, though the measures so far have not directly targeted physical metals consumption.

Meanwhile, geopolitical tensions escalated as US President Joe Biden authorized Ukraine to use US-made weapons for strikes deep within Russia.

This has raised concerns about a broader global conflict and spurred renewed demand for safe-haven assets like silver.

Technical Outlook – Silver Price

Silver prices rebounded from the low of 86,844 on Thursday, climbing to today’s high of 90,752 yesterday. The prices settled at 90513, up from Friday’s close of 88,421, up 2.37%.

From the start of the month, silver has been under pressure, falling nearly 9% from its peak of 99,332. However, the formation of a hammer candlestick indicates a potential recovery rally.

This recovery is likely to continue, with a break above 90,580 potentially paving the way toward the next resistance at 91,750–92,300. Alternatively, failure to break above this level may lead to consolidation, with immediate support at 88,500–87,450 before any significant move.

Traders may take action after a breakout 90,580.

Until then, Happy Trading!

Commodity Samachar Securities
We Decode the Language of the Markets

Also Read: Forex Focus: G20 Brazil Tackles Geopolitical Tensions , Global PMI, UK CPI & Retail Sales: Key Focus This Week

Want Help On Your Trades ?

Chat with RM

COMMODITY SAMACHAR SECURITIES PVT. LTD.

November 19, 2024

📊19 NOV 2024

ACTION FOR THE DAY🧐

📈GIFT NIFTY INDICATES NIFTY TO OPEN POSITIVE AROUND 45 POINTS GAP DOWN 🟢

INDEX SUPPORT & RESISTANCE LEVELS

✅ NIFTY
S1- 23419, S2- 23385, S3- 23357
R1- 23480, R2 – 23507, R3- 23541

✅ BANK NIFTY
S1- 50302, S2- 50259, S3- 50215
R1- 50389, R2 – 50433, R3- 50476

🎯 NO TOP STOCKS FOR THE DAY 🎯

📌 RESULTS SESSION Q2

HINDUSTAN TIN WORK Q2 Result

NET PROFIT DOWN 36% AT 4.12CR (YOY), UP 151% (QOQ)

REVENUE DOWN 6% AT 109.68CR (YOY) ,UP 3% (QOQ)

EBITDA DOWN 19% AT 8.2CR (YOY), UP 69%(QOQ)

MARGINS 7.47% V 8.72% (YOY), 4.53% (QOQ)

SANSTAR Q2 Result

NET PROFIT DOWN 49 % AT 7.51 CR (YOY), DOWN 54 % (QOQ)

REVENUE DOWN 22 % AT 195 CR (YOY) ,DOWN 33 % (QOQ)

EBITDA DOWN 51 % AT 11.45 CR (YOY),DOWN 59 %(QOQ)

MARGINS AT 5.86 % V 9.48 % (YOY), 9.7 % (QOQ)

MAHESHWARI LOGISTICS Q2 Result

NET PROFIT UP 19 % AT 4.52 CR (YOY), UP 20 % (QOQ)

REVENUE DOWN 4 % AT 224.7 CR (YOY) ,DOWN 8 % (QOQ)

EBITDA UP 16 % AT 15.78 CR (YOY),UP 12 %(QOQ)

MARGINS AT 7.01 % V 5.81 % (YOY), 5.73 % (QOQ)

ROTO PUMP Q2 Result

NET PROFIT DOWN 10 % AT 11.41 CR (YOY), UP 106% (QOQ)

REVENUE UP 4 % AT 84.58 CR (YOY) ,UP 48 % (QOQ)

EBITDA DOWN 6 % AT 19.4 CR (YOY),UP 61%(QOQ)

MARGINS AT 22.93 % V 25.2 % (YOY), 20.93 % (QOQ)

OMAXE LTD Q2 Result

NET LOSS AT 239 CR V 84 CR LOSS (YOY), 147 CR LOSS (QOQ)

REVENUE UP 46 % AT 389 CR (YOY) ,UP 14 % (QOQ)

EBITDA LOSS AT 223 CR V 67 CR LOSS (YOY), 151 CR LOSS (QOQ)

SEPC Q2 Result

NET PROFIT DOWN 59% AT 2.29CR (YOY), DOWN 72% (QOQ)

REVENUE UP 32% AT 171CR (YOY) , DOWN 3% (QOQ)

EBITDA DOWN 10% AT 7.67CR (YOY), DOWN 68%(QOQ)

MARGINS 4.48% V 6.57% (YOY), 13.75% (QOQ)

TIRUPATI STARCH & CHEMICALS Q2 Result

NET PROFIT UP 1757% AT 0.65CR (YOY), v 2.08CR LOSS (QOQ)

REVENUE UP 68% AT 103.27CR (YOY) ,UP 20% (QOQ)

EBITDA UP 29% AT 5.03CR (YOY), UP 96%(QOQ)

MARGINS 4.87% V 6.36% (YOY), 2.98% (QOQ)

VIKAS ECOTECH Q2 Result

NET PROFIT UP 37% AT 2.42CR (YOY), DOWN 76% (QOQ)

REVENUE UP 11% AT 67.34CR (YOY) , DOWN 16% (QOQ)

EBITDA DOWN 24% AT 4.19CR (YOY), UP 160%(QOQ)

MARGINS 6.22% V 9.02% (YOY), 2.01% (QOQ)

MONTE CARLO Q2 Result

NET PROFIT DOWN 39% AT 8.04CR (YOY), V LOSS 13CR (QOQ)

REVENUE UP 3% AT 219.7CR (YOY) ,UP 74% (QOQ)

EBITDA DOWN 17% AT 28.35CR (YOY), V LOSS 2.4CR (QOQ)

MARGINS 12.90% V 16.03% (YOY), -1.90% (QOQ)

RATNAMANI METALS Q2 Result

NET PROFIT DOWN 39 % AT 100 CR (YOY),DOWN 5 % (QOQ)

REVENUE DOWN 14 % AT 971 CR (YOY) ,DOWN 18% (QOQ)

EBITDA DOWN 37 % AT 153.7 CR (YOY),DOWN 6 %(QOQ)

MARGINS AT 15.8 % V 21.7 % (YOY), 13.85 % (QOQ)

PRIME FOCUS Q2 Result

NET PROFIT OF 33.4 CR V 220 CR LOSS (YOY), 119 CR LOSS (QOQ)

REVENUE DOWN 13 % AT 889 CR (YOY) ,UP 12 % (QOQ)

EBITDA OF 203 CR V 14.3 CR LOSS (YOY),UP 254 %(QOQ)

MARGINS AT 22.8 % V – 1.4 % (YOY), 7.21% (QOQ)

EVEREST KANTO CYLINDER Q2 Result

NET PROFIT UP 46 % AT 38.4 CR (YOY), UP 37% (QOQ)

REVENUE UP 23 % AT 367 CR (YOY) ,UP 7 % (QOQ)

EBITDA UP 29% AT 53.13 CR (YOY),UP 28 %(QOQ)

MARGINS AT 14.46 % V 13.77% (YOY), 12.1% (QOQ)

RELIANCE INFRA Q2 Result

NET PROFIT OF 4082 CR V 294 CR LOSS (YOY), 233 CR LOSS (QOQ)

REVENUE UP 1 % AT 7258 CR (YOY) ,UP 1 % (QOQ)

EBITDA UP 56 % AT 1635 CR (YOY),UP 35%(QOQ)

MARGINS AT 22.52 % V 14.65 % (YOY), 16.8 % (QOQ)

PTC INDUSTRIES Q2 Result

NET PROFIT UP 113% AT 17.3CR (YOY), UP 253% (QOQ)

REVENUE UP 26% AT 72.36CR (YOY) ,UP 54% (QOQ)

EBITDA UP 36% AT 21.23CR (YOY), UP 112%(QOQ)

MARGINS 29.33% V 27.23% (YOY), 21.40% (QOQ)

LA OPALA RG Q2 Result

NET PROFIT DOWN 23% AT 24.06CR (YOY), UP 2% (QOQ)

REVENUE UP 2% AT 90.61CR (YOY) ,UP 24% (QOQ)

EBITDA DOWN 24% AT 37.5CR (YOY), UP 2%(QOQ)

MARGINS 41.4% V 55.58% (YOY), 50.33% (QOQ)

ASHAPURA MINECHEM Q2 Result

NET PROFIT DOWN 25 % AT 44.32 CR (YOY), DOWN 26% (QOQ)

REVENUE UP 9 % AT 605 CR (YOY) ,DOWN 15% (QOQ)

EBITDA UP 110 % AT 64.06 CR (YOY),DOWN 26 %(QOQ)

MARGINS AT 10.60 % V 5.49 % (YOY), 12.17 % (QOQ)

🙏With Regards,

Commodity Samachar Securities Pvt. Ltd.
📲 WhatsApp 7410799956
🌎www.commoditysamachar.com
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Forex Focus: G20 Brazil Tackles Geopolitical Tensions

November 18, 2024

The Forex newsletter for the day is here. DXY , XAUUSD , XAGUSD , COPPER , USOIL , NASDAQ , S&P 500 E-Mini , USDCHF, Dollar

DXY

Buy on dip around 106.200
Stop loss below 105.990
Target 106.400–106.600

XAUUSD

Buy around 2590
Stop loss below 2580
Target 2600–2610

XAGUSD

Buy above 30.82
Stop loss below 30.50
Target 31.10-31.40

USOIL

(Friday given Sell around 68.20 all target done)

Sell on rise around 68.00
Stop loss above 68.50
Target 67.50–67.00

COPPER (HG1)

Sell around 4.0700
Stop loss above 4.1000
Target 4.0400–4.0100

NASDAQ

(Friday given Sell around 20820 all target done)

Buy above 20650
Stop loss below 20550
target 20750–20850

S&P 500 E-Mini

Sell below 5894
Stop loss above 5910
target 5880–5865

Top pick

USDCHF

(Friday given USDCHF Sell around 0.88900 first target done)

Buy around 0.88750
Stop loss below 0.88500
target 0.89000–0.89250

Forex Newsletter – Leaders at the G20 summit in Brazil brace for tensions over trade, climate, and security, as US President-elect Trump’s policy shifts loom large. With the Ukraine conflict, China’s growing economic influence, and calls for tax reform, diplomatic challenges intensify, especially with Trump’s opposition to multilateralism.

Until then, Happy Trading!

Commodity Samachar Securities
We Decode the Language of the Markets

Also Read: Global PMI, UK CPI & Retail Sales: Key Focus This Week , Focus Gold Price Drops 4%—Will It Hit Key Support Next?

Want Help On Your Trades ?

Chat With RM

Global PMI, UK CPI & Retail Sales: Key Focus This Week

November 18, 2024

U.S. economic data remain in focus amid expectations that the Federal Reserve would proceed cautiously with interest-rate cuts given the pickup in U.S. inflation in October and the prospect of President-elect Donald Trump’s policies adding to price pressures. This week Focus Will on Global PMI, UK CPI, Retail sales data

This week Focus Will on Global PMI, UK CPI, Retail sales data

U.S.

The week’s U.S. data releases include weekly jobless claims (forecast 220k from previous 217k) and existing home sales (forecast 3.94M from previous 3.84M) on Thursday.

On Friday, flash estimate of purchasing managers’ surveys (previous 48.5 and the University of Michigan’s final consumer survey are due, forecast is at 72.1 from previous 73).

The U.S. Treasury will auction $16 billion in 20-year bonds on Wednesday and $17 billion in 10-year notes on Thursday.

Canada

In Canada, the main focus will be on the October inflation data due Tuesday. Inflation fell to an annual rate of 1.6% in September from 2.0% the previous month, the lowest since February 2021 and below the Bank of Canada’s 2% target.

Last month, the Bank of Canada cut interest rates by 50 basis points to 3.75% and said it expects to cut rates further as it sees inflation remaining close to its target over the projection horizon.

Further, Canada Retail sales data on Friday will be another important data for the week. The data is foreseen at -0.5% from previous -0.7%. Both data will impact on the Canadian dollar.

Eurozone

This week, Eurozone balance of payments for September (forecast 27.0B from previous 31.5B) and final CPI data for October on Tuesday will in Focus (forecast 2.7% from previous 2.7%).

Flash estimates of French (forecast 44.6 from previous 44.5), German (forecast 43.1 from pervious 43) and eurozone purchasing manager indices (forecast 46 from previous 45) on Friday are the key indicators to watch. That could weight on the Euro.

U.K.

U.K. inflation data is set to be released on Wednesday. In the last reading, annual headline inflation for September stood at 1.7%. Forecast is 2.2%.

The U.K. retail sales data for October is set to be released on Friday. The data is foreseen at -0.3% from previous 0.3%.

Meanwhile, UK Flash manufacturing PMI data (foreseen 50.1 from previous 49.90) and Flash Service PMI data (foreseen at 52.3 from previous 52) could weight on the pound.

CHINA

It is a relatively quiet week for China after a flurry of data showed signs of gradual improvement.

China’s biggest banks are expected to hold their loan prime rates–the country’s benchmark lending rates that guide mortgage–steady on Wednesday at 3.10% and 3.60%, following a steep cut to borrowing costs last month.

Economists have low expectations for further monetary support after a wave of easing.

All eyes are on December’s Central Economic Work Conference for policy priorities, with potential surprise announcements, though Beijing’s fiscal moves are expected to remain cautious.

JAPAN

BOJ Governor Ueda speaks Monday in Nagoya, with investors eyeing hints on rate hikes as the yen’s sharp drop raises inflation risks. Economists see a hike in December or January.

Further, the BOJ governor will also attend a forum in Tokyo on Thursday, with Bank of France Governor Francois Villeroy de Galhau.

Japan’s October CPI, due Friday, is expected to show energy subsidies easing price pressures. Core CPI (ex-fresh food) likely rose 2.2% YoY, down from 2.4% in September, per market forecast.

Machinery orders for September due Monday and trade statistics for October due Wednesday will also give some clues on the strength of the manufacturing sector.

Until then, Happy Trading!

Commodity Samachar Securities
We Decode the Language of the Markets

Also Read: Focus Gold Price Drops 4%—Will It Hit Key Support Next? , Forex Focus: Gold & Silver Dip, Then Rebound

Want Help On Your Trades ?

Chat with RM

Data	Time	Forecast	Previous
Unemployment Claims	6:00pm	243K	241K
Flash Manufacturing PMI	7:15pm	47.5	47.3
Flash Services PMI	7:15pm	55.0	55.2

LME Metal	Change
COPPER	-1925
ALUMINUM	-2500

Index	PCR	Maximum Pain
Nifty	1.03	24500
Bank Nifty	1.33	52000

Institution	Cash
FII	-2262
DII	3226

BOE Speaks, Canada Inflation in Focus today

Major Economic Data and Event scheduled today (BOE Speaks, Canada Inflation in Focus today)

Silver price jumped over 2%—but are this rally sustainable or not?

Technical Outlook – Silver Price

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