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COMMODITY UPDATES

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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.S. non-farm payrolls climbed by 163,000 in July 2012, while the jobless rate unexpectedly rose to a five month high of 8.3 per cent. The Institute for Supply Management (ISM) also reported that non-manufacturing index unexpectedly gained to 52.6 in July from 52.1 in June 2012.
 The U.S. dollar tumbled the most in a month on Friday, down by 1.18 per cent, after U.S. reported better than expected U.S. payrolls data which reduced the demand for safe haven assets including the U.S. dol

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