-- Posted Monday, 23 June 2008 | Digg This Article | Source: GoldSeek.com

INSIGNIA CONSULTANTS
Asian Metals Market Update for 23rd June, 2008
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PLATINUM OCTOBER TECHNICAL LEVELS
SUPPORT				RESISTANCE
S1	S2	S3	S4	R1	R2	R3	R4
$1,968.00	$2,002.00	$2,036.00	$2,056.00	$2,089.00	$2,112.00	$2,137.00	$2,184.00
EURO/USD  -- TECHNCAL LEVELS
SUPPORT				RESISTANCE
S1	S2	S3	S4	R1	R2	R3	R4
1.5435	1.5498	1.5535	1.5604	1.5678	1.5714	1.5772	1.5832
GBP/USD  -- TECHNCAL LEVELS
SUPPORT				RESISTANCE
S1	S2	S3	S4	R1	R2	R3	R4
1.9574	1.9630	1.9690	1.9708	1.9794	1.9837	1.9902	1.9960
GENERAL MARKET CONDITIONS
The Fed meeting should be a damn squib. Bernanke & Co will be hawkish like most central banks trying to say that both growth and managing inflation are important to them. The Federal Reserve will adopt a wait and watch policy on interest rates. Before the September Fed meeting there are three more months. If the US economy recovers in the June to August period, then only will the Federal Reserve adopt an aggressive interest rate rise stance. Crude oil and food prices will be the key. Weather related crop losses will result in food prices trading with a firm bias. There are floods in the US mid west and Iowa region and in Southern China. A third of Australia’s wheat crop has been destroyed due to drought. Global warming will only increase supply pressures.
The US dollar is in the middle of the road. (A) On one hand divergent interest rate strategy between the Federal Reserve and the European Central bank (ECB) will result in gains in the euro against the US dollar. The ECB will manage inflation and inflationary expectation by raising interest rates till growth in the eurozone falls. The Federal Reserve will use a wait and watch policy on interest rate hikes. For the Federal reserve, everything will depend on US employment numbers. If the US monthly employment numbers turn positive, the Federal reserve will raise interest rates more than once in 2008. (B) If eurozone growth falters due to a stronger currency and higher commodity prices then the ECB will cut interest rates only once in July. This move will be negative for the Euro.
PLATINUM OCTOBER -- INTRA DAY PIVOT $2048.
Platinum targets $2100 and $2192 this week as long as $2038 and $2019 holds
MCX CARBON CREDIT --NOVEMBER (price in Indian Rupees)
Carbon Credits targets 1454 and 1502 this week as long as 1395 holds.
HAPPY PROFITABLE TRADING
Disclaimer : Any opinions as to the commentary, market information, and future direction of
prices of specific currencies, precious metals, base metals, or equity indices reflect the views
of the individual analyst, In no event shall Insignia Consultants or its employees  have any liability
for any losses incurred in connection with any decision made, action or inaction taken by any
party  in reliance upon the information provided in this material; or in any delays, inaccuracies,
errors in, or omissions of Information.
Nothing in this article is, or should be construed as, investment advice.

-- Posted Monday, 23 June 2008 | Digg This Article | Source: GoldSeek.com

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