Achiievers equities commodity report

Daily Commodity Report as on Friday, January 16, 2015

Date : Friday, January 16, 2015 URL : www.achiieversequitiesltd.com Page No - 1

Open High Low Close % Cng OI

Gold 27066 27546 26706 27492 1.07 8538Silver 37601 38389 37076 37922 -0.02 10016

Alum. 110.5 111.3 109.55 110.3 0.09 3009Copper 347 356.75 347 352.2 1.89 13505Lead 109.75 111.25 108.85 109.1 0.28 2185Nickel 894.1 908 885.8 891.4 0.35 4534Zinc 127.4 127.65 125.65 126.8 0.24 2643

Crude 2892 3120 2892 2939 2.65 15268Nat. Gas 201.6 207.4 195.8 198.5 -1.34 5909

Chana 27066 27546 26706 27492 1.07 8538

Cardamom 1060.5 1077.5 1050 1068.6 0.16 1589Turmeric 9250 9296 9080 9122 -0.85 36685

Jeera 16560 16600 16220 16455 0.15 15000Dhaniya 7362 7600 7070 7245 -3.67 9730

Wheat 1670 1700 1659 1681 0.60 2850

Soyabean 3479 3505 3470 3491 0.87 91890Ref. Oil 655.5 659.8 655.5 655.75 0.47 76100CPO 462.1 465.9 460 460.5 0.30 1335RMSeed 3540 3545 3478 3483 -1.16 38780Menthol 745 745 731.8 738.4 -1.30 9040Cotton 15100 15160 15040 15130 0.07 5425

USDINR 62.01 62.24 61.59 62.19 -0.28 1321500EURINR 73.12 73.13 71.70 72.81 -0.61 43280GBPINR 94.61 94.99 93.69 94.72 0.13 23984JPYINR 53.00 53.58 52.35 53.43 0.16 17991

Market Round upPrecious Metals

Gold rose after the Swiss National Bank lowered interest rates further into negative territory.

Base MetalSilver recovered from lows as the dollar weakened following Switzerland’s decision to decouple its currency to the euro.

Crude oil prices gains after OPEC said that a slump in prices will start to erode U.S. supply growth this year.

Natural gas prices dropped as the outlook for a late January cold snap moderated, signaling slowing demand for the heating fuel.

Ref soyoil ended with gains on improvement in demand from oil crusher and on supply worries in the domestic market.Cereals

Mentha oil prices ended with losses due to the ample stocks availability in the physical market on account of higher supply.Oil and Oilseeds & Others

Soyabean prices ended with gains due to higher demand in the domestic market and good export demand for soymeal.

Energy Copper prices rebounded as investors returned to the market to seek cheap valuations one day after prices fell to the lowest level in almost six years.

Zinc prices seen supported on a mix of bargain-hunting, short covering and hedging by consumers.Pulses

Nickel gains tracking firmness in copper prices after data showed Germany’s growth in 2014 was in line with market expectations.Spices

Chana prices remained under pressure driven by subdued demand in the spot market.

Turmeric prices ended with losses as pressure seen on prices as new harvest started arriving. Currency

Jeera gains as prices seen supported tracking firmness in spot prices as lower acreage supported prices.


MCX Gold Feb 2015 TRADING IDEA

OPEN 27066 SUP-2 26408 Gold trading range for the day is 26408-28088.

HIGH 27546 SUP-1 26950 Gold rose after the Swiss National Bank lowered interest rates further into negative territory.

LOW 26706 P.P. 27248 The SNB announced that it will discontinue the minimum exchange rate of 1.20 per euro, while lowering interest rates further into negative territory.

Gold settled up 1.07% at 27492 erased its earlier decline and gained smartly towards mid-European trade after the Swiss National Bank cut the interest rate to minus 0.75 per cent and scrapped its minimum exchange rate of1.20 Swiss francs to a euro, which boosted fundamental sentiment towards the yellow metal. Following the interest rate cut in Switzerland, gold moved up to $1,255 an oz in London’s early Thursday trade. However, profitbooking from a section of traders pulled it down to $1,250.4 an oz towards early afternoon. However, as mentioned, the Swiss central bank had also said it was scrapping its minimum exchange rate of 1.20 Swiss francs aeuro and raised the fees it would charge banks to deposit money. For bullion market globally, Switzerland has been a very important centre for importing gold. Also Gold also found support on some soft economic data fromthe U.S., with first time claims for unemployment benefits jumping to a four-month high and manufacturing activity in the Philadelphia area growing at a notably slower pace in January. In a potentially troubling sign for thelabor market, a Labor Department report on Thursday showed first-time claims for U.S. unemployment benefits to have jumped to a four-month high in the week ended January 10. Separately, a Labor Department reportshowed U.S. producer prices to have recorded their biggest drop in over three years in December, with energy prices declining substantially. In a reflection of improving investor confidence, SPDR Gold Trust, said its holdingsrose 1.35 percent to 717.15 tonnes on Thursday. Technically market is getting support at 26950 and below same could see a test of 26408 level, And resistance is now likely to be seen at 27790, a move above could seeprices testing 28088.

MCX Silver Mar 2015 TRADING IDEA

OPEN 37601 SUP-2 36483 Silver trading range for the day is 36483-39109.

CLOSE 27492 RES-1 27790 SPDR gold trust holdings gained by 9.56 tonnes i.e. 1.35% to 717.15 tonnes from 707.59 tonnes.

% CNG 1.07 RES-2 28088 BUY GOLD FEB @ 27250 SL 27100 TGT 27380-27560.MCX

HIGH 38389 SUP-1 37203 Silver recovered from lows as the dollar weakened following Switzerland’s decision to decouple its currency to the euro.

LOW 37076 P.P. 37796 Prices recovered after SNB announced that it would discontinue the minimum exchange rate of 1.20 per euro, lowering interest rates into negative territory.

CLOSE 37922 RES-1 38516 Holdings at Ishares Silver Trust dropped by -0.41% i.e. -41.69 tonnes to 10108.97 tonnes from 10150.66 tonnes.

% CNG -0.02 RES-2 39109 BUY SILVER MAR @ 37600 SL 37300 TGT 37900-38250.MCX

Silver settled down -0.02% at 37922 but recovered from the day's low as support seen tracking gain's from Gold which rose as much as 1 percent to a four-month high on Thursday after Switzerland's central bankunexpectedly abandoned its three-year cap on the franc sent global shares and bond yields into turmoil. Bullion also found support on some soft economic data from the U.S., with first time claims for unemployment benefitsjumping to a four-month high and manufacturing activity in the Philadelphia area growing at a notably slower pace in January. The Swiss National Bank ended the three-year minimum exchange rate of CHF 1.20 per euro, thecentral bank said in a statement on Thursday. The move is seen as a precursor to the ECB further weakening the euro by the anticipated announcement full-scale quantitative easing in the coming months. At the same time,the Federal Reserve Bank of New York said that its general business conditions index increased to 10.0 this month from a reading of -3.6 in December. Separately, the Commerce Department said that producer prices fell bya seasonally adjusted 0.3% last month, compared to forecasts for a 0.4% decline, after falling 0.2% in November. The core producer price index eased up by a seasonally adjusted 0.3% last month, above expectations for again of 0.1% and following a flat reading in November. Data on Wednesday showed that retail sales in the U.S. dropped by the most in 11 months in December, suggesting that the Federal Reserve could keep rates on holdfor longer. Technically market is getting support at 37203 and below same could see a test of 36483 level, And resistance is now likely to be seen at 38516, a move above could see prices testing 39109.


MCX Crudeoil Jan 2015 TRADING IDEA

OPEN 2892 SUP-2 2756 Crudeoil trading range for the day is 2756-3212.

HIGH 3120 SUP-1 2848 Crude oil prices gains after OPEC said that a slump in prices will start to erode U.S. supply growth this year.

LOW 2892 P.P. 2984 In its monthly report, the OPEC forecast demand for the group's oil would drop to 28.78 million barrels per day (bpd) in 2015

Crudeoil settled up 2.65% at 2939 up but surrendered all its 9 percent gain to settled with only 2.65 percent gain tracking losses from Nymex Crude which ended sharply lower on Thursday plummeted $2.23 to close at$46.25 a barrel surrendering much of the gains made yesterday, with focus on developments in the currency market after the Swiss National Bank preferred to to abandon its currency ceiling. Nonetheless, fears of excesssupply continued to haunt investors after the official weekly oil report from the U.S. EIA showed crude stockpiles in the U.S. to have jumped more than expected last week. Crude oil posted its largest one-day gain in morethan two years on Wednesday, picking up over 5 percent in a late rally. Bargain hunters have swooped in to buy crude oil futures after a dramatic decline from summertime highs above $100. The Swiss National Bank moveput the dollar in a spot, but recovered soon enough to trend higher against a select band of currencies. The Swiss National Bank ended the three-year minimum exchange rate of CHF 1.20 per euro -- a move seen as aprecursor to the ECB further weakening the euro with the full-scale quantitative easing expected in the coming months. Market blame the decline in energy prices on oversupplied markets amid an influx of U.S. shale and anunwillingness from OPEC to cut production. Saudi Arabia may prove successful in driving prices too low for U.S. shale companies to be profitable. On Wednesday, crude oil surged by 2.59 to close at $48.48 a barrel, onbargain hunting with the dollar trending lower against some major currencies. Technically market is getting support at 2848 and below same could see a test of 2756 level, And resistance is now likely to be seen at 3076, amove above could see prices testing 3212.

MCX Copper Feb 2015 TRADING IDEA

OPEN 347.0 SUP-2 342.3 Copper trading range for the day is 342.3-361.7.

CLOSE 2939 RES-1 3076 OPEC countries expect global oil demand to rise this year while supply could advance, but at a slower pace.

% CNG 2.65 RES-2 3212 SELL CRUDE OIL JAN BELOW 2920 SL 2970 TGT 2885-2840-2810.MCX

HIGH 356.8 SUP-1 347.3 Copper prices rebounded as investors returned to the market to seek cheap valuations one day after prices fell to the lowest level in almost six years.

LOW 347.0 P.P. 352.0 Copper’s drop in last some sessions is raising speculation China’s government will take advantage of lower prices to buy supplies, hastening a rebound.

CLOSE 352.2 RES-1 357.0 Data showed that retail sales in the U.S. dropped by the most in 11 months in December, suggesting Fed could keep rates on hold for longer.

% CNG 1.89 RES-2 361.7 SELL COPPER FEB @ 355 SL 359.50 TGT 351.50-348.50.MCX

Copper settled up 1.89% at 352.2 as investors returned to the market to seek cheap valuations one day after prices fell to the lowest level in almost six years. U.S. producer prices in December recorded their biggest fall inmore than three years on tumbling energy costs while underlying inflation pressures were tame, a cautionary note for the Federal Reserve as it ponders its next step on monetary policy. China's central bank will increase itsrelending quota, by which it lends funds to banks at low rates to give them more cash they can lend out to customers, by 50 billion yuan, it said. A sharp drop in oil prices and a stronger U.S. economy probably won't beenough to brighten the outlook for global growth this year, the head of the International Monetary Fund warned on Thursday. The CME Group, parent company of the Chicago Board of Trade, on Thursday raised the initialmargins for copper contracts by 17.2 percent, effective on Friday. Supporting the market, investors bet on an increased chance of policy stimulus after disappointing China bank loan data. But adding to bearish sentiment,Japan's core machinery orders rose less than expected in November, as renewed global growth concerns appeared to temper corporate spending plans and cast fresh doubts over how quickly the economy can recover fromrecession. technically market is under short covering as market has witnessed drop in open interest by -5.7% to settled at 13505 while prices up 6.55 rupee, now Copper is getting support at 347.3 and below same could seea test of 342.3 level, And resistance is now likely to be seen at 357, a move above could see prices testing 361.7.


MCX Zinc Jan 2015 TRADING IDEA

OPEN 127.4 SUP-2 124.7 Zinc trading range for the day is 124.7-128.7.

HIGH 127.7 SUP-1 125.8 Zinc prices seen supported on a mix of bargain-hunting, short covering and hedging by consumers.

LOW 125.7 P.P. 126.7 Pressure seen on prices as concerns over the global economic outlook and the impact on future demand prospects dampens demand.

Zinc settled up 0.24% at 126.8 as prices seen supported on a mix of bargain-hunting, short covering and hedging by consumers. Major economic indicators from the US overnight were mixed. Swiss National Bankunexpectedly lowered interest rates and freed up the 1.2 floor of the euro against Swiss franc, causing risk aversion to rise. US initial jobless claims for the week ending January 10 increased 19,000 to 316,000, the highestsince early September and well above 291,000 expected. Jobless claims for the week ending January 3 were revised up from 294,000 to 297,000. The country’s producer price index (PPI) slid 0.3% MoM in December, thesharpest decline since October 2011, due in large part to declines in energy prices. China's foreign direct investment (FDI) rose an annual 1.7 percent last year, although the pace slowed from 2013 as a cooling economy andshifting drivers of growth weighed on offshore investment flows. China attracted a record $119.56 billion from foreign investors last year compared to $117.6 billion in 2013, the Ministry of Commerce said in a statement onits website. Commodity prices consolidated as investors remained cautious. LME zinc prices opened at USD 2,042/mt, then inched up RMB 2,065/mt during Asian trading hours, fluctuating between USD 2,040-2,060/mtduring European and US trading hours, and closing at USD 2,055/mt, up USD 16.75/mt or 0.82%. LME zinc inventories fell 3,350 to 661,375 mt. Technically market is under short covering as market has witnessed drop inopen interest by -6.41% to settled at 2643 while prices up 0.3 rupee, now Zinc is getting support at 125.8 and below same could see a test of 124.7 level, And resistance is now likely to be seen at 127.8, a move above couldsee prices testing 128.7.

MCX Nickel Jan 2015 TRADING IDEA

OPEN 894.1 SUP-2 872.9 Nickel trading range for the day is 872.9-917.3.

CLOSE 126.8 RES-1 127.8 Zinc daily stocks at Shanghai exchange came up by 1600 tonnes.

% CNG 0.24 RES-2 128.7 SELL ZINC JAN @ 127.60 SL 128.80 TGT 126.60-125.80.MCX

HIGH 908.0 SUP-1 882.2 Nickel gains tracking firmness in copper prices after data showed Germany’s growth in 2014 was in line with market expectations.

LOW 885.8 P.P. 895.1 Supporting the market, investors bet on an increased chance of policy stimulus after disappointing China bank loan data.

CLOSE 891.4 RES-1 904.4 Data showed that retail sales in the U.S. dropped by the most in 11 months in December, suggesting Fed could keep rates on hold for longer.

% CNG 0.35 RES-2 917.3 SELL NICKEL JAN @ 905 SL 918 TGT 892-880.MCX

Nickel settled up 0.35% at 891.4 tracking firmness in copper prices after data showed Germany’s growth in 2014 was in line with market expectations. Germany’s growth in 2014 announced overnight was in line with marketexpectations. Crude oil prices plummeted again, and the US dollar index stabilized at 92. With attenuating selloffs, base metals prices rebounded. The Swiss National Bank loosened the floor of the euro against Swiss franc.Supporting the market, investors bet on an increased chance of policy stimulus after disappointing China bank loan data. But adding to bearish sentiment, Japan's core machinery orders rose less than expected in November,as renewed global growth concerns appeared to temper corporate spending plans and cast fresh doubts over how quickly the economy can recover from recession. The U.S. Department of Labor said the number of individualsfiling for initial jobless benefits increased by 19,000 last week to 316,000, the highest in almost four months. The US dollar index, however, plunged. The Federal Reserve Bank of New York said that its general businessconditions index increased to 10.0 this month from a reading of -3.6 in December. LME nickel prices opened higher at USD 14,438/mt, then climbed and hovered around USD 14,500/mt. During European and US tradinghours, LME nickel prices jumped to USD 14,705/mt, but dived again and closed at USD 14,447/mt, up 1.06%. LME nickel inventories grew 12 to 418,332 mt. Technically market is under fresh buying as market has witnessedgain in open interest by 5.74% to settled at 4534 while prices up 3.1 rupee, now Nickel is getting support at 882.2 and below same could see a test of 872.9 level, And resistance is now likely to be seen at 904.4, a moveabove could see prices testing 917.3.


NCDEX Chana Feb 2015 TRADING IDEA

OPEN 3455 SUP-2 3393 Chana trading range for the day is 3393-3523.

HIGH 3492 SUP-1 3424 Chana prices remained under pressure driven by subdued demand in the spot market.

LOW 3427 P.P. 3458 Besides, extending Duty-free import for Pulses till March 31 created a further selling pressure.

Chana settled down by -0.09% at 3454 driven by subdued demand in the spot market. Besides, extending Duty-free import for Pulses till March 31 created a further selling pressure for Pulses complex too influenced chanaprices, even though lower sowing this season in major producing states capped some losses. Chana arrivals were steady at 30 trucks as compared to previous day. Domestic demand for chana is weak in local mandis as thequality available is of inferior variety. The 2nd advance estimate by Rajasthan state agriculture department projected 12.24 lakh tons of chana this year, while it had touched 16.40 lakh tons last year. Chana acreage islagging by 22% there. As per the data, sowing area has covered 14.9 lakh ha in the state so far, while it was recorded 19.23 lakh ha last year Latest report from AP Agri Dept indicates Rabi Pulses sowing down 6% from 6.43lakh ha to 6.02 lakh ha. The chana 2014-15 planted area is down in major producing states Madhya Pradesh (-17%),Andhra Pradesh(-30%),Maharashtra (-25%), Karnataka (6%) and Uttar Pradesh (5%). According toMinistry of Agriculture, total rabi pulses acreage till Jan. 2, 2015 is down by 10% to 129.99 lakh hectare(Ha.) as compared with last year’s area coverage of 144.79 lakh hectare during the corresponding week. The areaplanted under chana is also down by 16.18% to 79.65 Lakh Ha against 95.03 lakh ha. in same corresponding week during last year. In Delhi spot market, chana gained by 2.45 rupee to end at 3461.4 rupee per 100kgs.Technically market is under long liquidation as market has witnessed drop in open interest by -6.26% to settled at 105680 while prices down -3 rupee, now Chana is getting support at 3424 and below same could see atest of 3393 level, And resistance is now likely to be seen at 3489, a move above could see prices testing 3523.

NCDEX Turmeric Apr 2015 TRADING IDEA

OPEN 9250 SUP-2 8950 Turmeric trading range for the day is 8950-9382.

CLOSE 3454 RES-1 3489 The 2nd advance estimates by Rajasthan state agriculture department projected 12.24 lakh tons of chana this year.

% CNG -0.09 RES-2 3523 BUY CHANA FEB ABV 3460 SL 3440 TGT 3500-3540.NCDEX

HIGH 9296 SUP-1 9036 Turmeric prices ended with losses as pressure seen on prices as new harvest started arriving.

LOW 9080 P.P. 9166 Many buyers were keen on buying quality hybrid turmeric and also local root variety turmeric.

CLOSE 9122 RES-1 9252 Technically market is under fresh selling as market has witnessed gain in open interest by 1.78% to settled at 36685

% CNG -0.85 RES-2 9382 BUY TURMERIC APR ABV 9220 SL 9050 TGT 9340-9450.NCDEX

Turmeric settled down by -0.85% at 9122 as pressure seen on prices as new harvest started arriving. However expectation of lower output from South India due to last year's bad monsoon and crop damage from cyclonelimited the downside. Traders, especially exporters, procured good number of turmeric due to arrival of good quality produce. Many buyers were keen on buying quality hybrid turmeric and also local root variety turmeric.Sowing of Turmeric in AP for the 2014-15 season is reported at 0.13 lakh ha, as against 0.1 lakh ha last year. The area in Telanaga stood at 0.446 lakh ha against 0.431 lakh ha last year. Exports in turmeric have increasedby 10% to 43000 tonnes during Apr-Sep 2014 as compared to last year. The export target for the 2014-15 is 80000 tonnes according to Spice Board. Prices of hybrid turmeric fell due to poor quality of arrivals. Hybrid fingerrates were down by around Rs.800 a quintal as the quality that arrived for sale was poor. But root variety prices gained on quality. As per sources 4,000 bags arrived for sale, but only 1,185 were sold. At the Erode TurmericMerchants Association sales yard, the finger variety fetched Rs.4,599-7,934 a quintal, the root variety Rs.4,432-7,211. Technically market is under fresh selling as market has witnessed gain in open interest by 1.78% tosettled at 36685 while prices down -78 rupee, now Turmeric is getting support at 9036 and below same could see a test of 8950 level, And resistance is now likely to be seen at 9252, a move above could see prices testing9382.


MCX Menthaoil Jan 2015 TRADING IDEA

OPEN 745.0 SUP-2 725.2 Menthaoil trading range for the day is 725.2-751.6.

HIGH 745.0 SUP-1 731.8 Menthaoil spot is at 858/-. Spot market is down by Rs. 20/-.

LOW 731.8 P.P. 738.4 Mentha oil prices ended with losses due to the ample stocks availability in the physical market on account of higher supply.

CLOSE 738.4 RES-1 745.0 Acreage is expected to fall by 20 per cent this year, to 17,500 hectare on the back of a large carry-over stock.

% CNG -1.30 RES-2 751.6 SELL MENTHA OIL JAN @ 745 SL 752 TGT 736-730-724.MCX

352.2 126.8 891.4 110.3

Mentha oil settled down by -1.3% at 738.4 due to the ample stocks availability in the physical market on account of higher supply from the producing belts of Chandausi in Uttar Pradesh. Besides, subdued demand in the spotmarket also put pressure on mentha oil. At Barabanki market arrivals were reported at 100 Drums(1-drum-180kg), unchanged as compared to previous day’s arrival. At Bareilly market total arrivals are at 2 Drums(1-drum-180kg), steady as against previous day’s arrival. At Rampur market total arrivals are at 4 Drums(1-drum=180kg), lower by 1 Drums(1-drum=180kg) as compared to previous day. At Sambhal market estimated marketsupply was at 40 Drums(1-drum=180kg), steady as against previous day’s arrival. Mentha oil production is expected to fall this year by 30 per cent to 40,000 tonnes from 55,000 tonnes a year ago, with acreage under thecommodity declining as farmers sentiment were dampened due to lower prices. Mentha oil arrivals to the spot market, especially from the Chandausi in Uttar Pradesh, have increased substantially. The resulting fall in priceswas capped due to lower production of the commodity this season. Acreage is expected to fall by 20 per cent this year, to 17,500 hectare on the back of a large carry-over stock from last year, which also had an impact onprices. Technically market is under long liquidation as market has witnessed drop in open interest by -2.44% to settled at 9040 while prices down -9.7 rupee, now Menthaoil is getting support at 731.8 and below same couldsee a test of 725.2 level, And resistance is now likely to be seen at 745, a move above could see prices testing 751.6.

DAILY MARKET LEVEL FOR METAL AND ENERGY

COMMODITIES GOLD SILVER CRUDE NAT.GAS COPPER ZINC NICKEL ALUMINUM LEAD

109.1

27790 38516 3076 205.4

CLOSE 27492 37922 2939 198.5

357.0 127.8 904.4 111.3126.7 895.1 110.4

RESISTANCE28630 39829 3304 217.0 366.7 129.8 926.6 113.128088 39109 3212 212.2 361.7 128.7 917.3 112.2

P. POINT 27248 37796 2984 200.6 352.0

26110 35890 2620 182.2 337.6SUPPORT 26408 36483 2756 189.0 342.3 872.9 108.6

26950 37203 2848 193.8 347.3

OI 8538 10016 15268 5909 13505 2643 4534 3009123.8 860.0 107.7

125.8 882.2 109.5124.7


Positive Positive

SPREAD 115 611 59.00 -1.70 3.75 0.55 7.30

TREND Positive Positive Positive Positive Positive Positive Positive

0.80

113.0112.1110.6

105.8107.3108.2

2185

109.7

1

12:30pm EUR 0 01:15pm EUR 0 -84.7B3:30pm EUR -0.002 -0.0023:30pm EUR 0.008 0.0087:00pm USD -0.003 -0.0037:00pm USD 0.001 0.0017:45pm USD 0.802 0.8017:45pm USD 0.001 0.0138:25pm USD 94.3 93.68:25pm USD 0 0.0289:30pm USD 0 0

0 0 0 00 0 0 0

Industrial Production m/mPrelim UoM Consumer SentimentPrelim UoM Inflation ExpectationsFOMC Member Williams Speaks00

PREV

Chinese bank lending and foreign exchange reserves declined at the end of 2014, data from thePeople's Bank of China revealed. Bank lending fell to CNY 697.3 billion in December from CNY 852.7billion in November. It was also below the expected lending of CNY 890 billion. The fall in net newloans reflects the usual seasonal pattern, with the amount of loans issued typically lowest at the endof the year, Julian Evans-Pritchard, a China economist at Capital Economics said. Total socialfinancing, a broad measure of liquidity in the economy, totaled CNY 1.69 trillion compared to CNY1.15 trillion in November. China's broad M2 money supply grew 12.2 percent in December, slowerthan the 12.3 percent rise in November. Economists had forecast an annual growth of 12.5 percent.Foreign exchange reserves declined to $3.84 trillion at the end of fourth quarter from $3.89 trillion inthe prior quarter.

Fri

German Final CPI m/mFrench Gov Budget BalanceFinal CPI y/yFinal Core CPI y/yCPI m/mCore CPI m/mCapacity Utilization Rate

NEWS YOU CAN USE DAY TIME ZONE ECONOMICAL DATA EXP

An earlier bond-buying programme announced by the European Central Bank won a crucial legalbacking from the top EU court on Wednesday, giving boost to speculation that the central bank mayopt for full blown quantitative easing as early as this month, which could include government debtpurchases, as it battles the threat of deflation in the euro area. In his opinion note, Advocate GeneralPedro Cruz Villalon of the EU Court of Justice said, " The OMT programme..falls within the monetarypolicy for which the Treaty makes the ECB responsible and does not constitute an economic policymeasure, provided that, throughout the whole period of implementation of any OMT programme, theECB refrains from any direct involvement in the financial assistance programmes to which the OMTprogramme is linked." "The stated objectives of the OMT programme may in principle be accepted aslegitimate," he said. The OMT programme was announced by the ECB on September 6, 2012, amidthe peak of the sovereign debt crisis in Europe, when even the survival of the euro as a singlecurrency was threatened as the speculation of a break-up of Eurozone gained strength. Under thescheme, the central bank planned to buy government bonds subject to certain conditions. However,the plan was never put into practice.

Japan's government raised the economic growth estimates marginally for the fiscal year 2015. Thereal economic growth is estimated to reach 1.5 percent compared to the prior forecast of 1.4 percent,the Cabinet Office said. In nominal terms, GDP is forecast to rise 2.7 percent, slightly below theprevious estimate of 2.8 percent. For the current fiscal, the government projected 0.5 percentcontraction in real terms versus prior estimate of 1.2 percent. Further, the government expectsconsumer prices to rise only 1.4 percent in fiscal 2015 signaling that falling oi prices weigh on theefforts to lift inflation to the 2 percent target.

The United States department of agriculture (USDA) increased 2014-15 United States soybeanproduction forecast indicating robust supply in the world's biggest bean producer. The USDAincreased US, the world's biggest bean grower, 2014-15 production estimates to 108 million tonscompared to 107.7 million tons in the previous estimates and 91.4 million tons a year ago. However,USDA forecast for 2014-15 US soybean ending stockpiles at 410 million bushels unchanged from theprevious month and 92 million bushels a year ago. Brazil, the world's second biggest soybeanproducer, 2014-15 output may rise to 95.5 million tons compared to 94 million tons a month ago and86.7 million tons a year ago, the USDA said. Argentina, world's third biggest soybean producer, 2014-15 crop output may increase to 55 million tons unchanged from the previous month and 54 milliontons a year ago.

The South Indian Mills Association (SIMA), which represents textile mills in Tamil Nadu, has urged theCotton Corporation of India (CCI) to commence procurement of cotton at the minimum support price(MSP) in the state. T Rajkumar, chairman of SIMA, said the cotton prices had been highly volatile inthe past five years due to various factors. If India continues to increase its production during thecurrent cotton season, it would become the largest producer, and is likely to achieve a recordproduction of 40 million bales. However, China, the largest cotton consumer and importer, influencesthe international prices of cotton. He noted that to deplete its high-cost cotton, amounting to almosttwo years of stock, in February 2014, China had come out with a cotton policy restricting imports to25 per cent of its consumption and also extending over 25 per cent subsidy for the reserve cotton.“This had seriously affected international cotton prices. From August 2014, New York Futures forcotton had remained below 70 cents, as against the normal rate of over 90 cents. As the MSP ofIndian cotton is much higher than this, the poor offtake had seriously affected cotton farmers in Indiain the current cotton season,” said Rajkumar.



Achiievers equities commodity report

Economy & Finance

spot prices

zinc prices

turmeric prices

spiceschana prices

crude oil prices

cerealsmentha oil prices

energy copper prices

natural gas prices