COMMODITY UPDATED BY INTRADAY TRADING SYSTEMS OF TECHNOTRADES News Highlights: Commodity markets strengthened on Friday as the U.S. non-farm payrolls and U.S. ISM manufacturing data beat the market expectation, even after the jobless rate unexpectedly rose to a five month high of 8.3 per cent. Copper futures posted its biggest weekly drop in nine weeks as Investors sold the base metals last week when the Fed and ECB ended a policy meeting without announcing stimulus measures to boost the economic growth. Cotton futures are expected to maintain its bullish trend for the next weeks as some short-covering has been seen ahead of the U.S. Agriculture Department’s monthly supply/demand report on August 10, 2012. The concern over oil supply disruption in the Gulf of Mexico supported the oil prices on Friday. The U.S. National Hurricane Center forecasted that tropical storm “Ernesto” may grow into a hurricane this weakened. The U.S. Labor Department reported last week that U....
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