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Gold 1333 vs 1326      , $/R 10.83 vs 10.92    , Copper 7.13 vs 7.13 , Nickel 14.25 vs 14.20       , Oil 102.43 vs 102.50


GLEN.L

-0.74%   



GLNCY

-0.89% 



^DJI

+0.64% 



HMY 

-0.30%         

Asian share markets regained some altitude on Tuesday courtesy of a tailwind from Wall Street which sped to historic highs amid more mergers buzz, while gold consolidated its recent rally.

Fourth quarter GDP up by 3,8 per cent

The seasonally adjusted real gross domestic product (GDP) at market prices for the fourth quarter of 2013 increased at an annualised rate of 3,8 per cent. The main contributors to this increase in economic activity were the manufacturing industry (1,8 percentage points) and the mining and quarrying industry (0,8 of a percentage point).

Eco Calendar

SA Budget Speech, Gordon
11:30 GB GDP 2.8%  prev & exp
17:00 US New home sales

S&P closing -0.14% @ 1845, second failed break on S&P 500 (recent high 1850), prospect of pullback seems to be growing, Dow -0.17& & Nas -0.13%.

Nikkei ends -0.5% earlier, Topix -0.7%

Back home, ALSi -0.92%@ 46956, T40 -1.02% @ 42 442. 

T40: Short term sideways, volatility increasing, overbought, Support 42480, Resistance 43100

I’m looking for shorts on food retailers, (Pick nPay, Shoprite, Spar) & retailers in general (Fos, JD, MrP, Tru, Wool) but not Cfr, Shf & moving BGA to short watchlist, still shorting ACL since 17/2. What are you up to?

New high AECI, new lows Aveng & Santam.

Duals:

SHF:US  +10.80% (have to double check, seems odd)
OXV:GR  (SHF Stuttgart) +2.94%
TLKGY:US +1.66%
TENC:HK +0.87% (8:03)
CFR:US +0.30%
MT:NA (that’s Mittal in Amsterdam) -2.14%
BPH:AU -1.33%
GLNCY:US -1.16%
NPSNY -0.79%
BCS:US -0.46%
BARC:LN -0.42%

For the metal bugs out there, yes, talking to you jaDEB & yozzi:

Gold has near term support near $1308 with significant resistance at $1340-$1350.

Silver faces stiff resistance near $22 with near term support levels below $21.40 and $21.00.

Precious metals investors should be happy to see a further consolidation after the recent upside moves. Some cooling off in sentiment and working off a bit of the recent overbought condition in gold and silver will only serve to prepare the market for the next upside surge.

T40 +24 pips atm (8:15)
T40 +112 PIPS @ (8:35), idiots:

Dow ended -0.12%, Nas -0.10%, S&P flat.

Asia mostly green (just), except Nikkei -0.32%

Rand weaker after Gordhan R1.3 trillion budget-2014 speech yesterday, R10.81/$.

Growth forecast 2.7%, deficit forecast cut to 4.0% of GDP from 4.1% (Oct13).

Eco Calendar:

Swiss GDP just came in at 1.7%, expected 2.0%, Spanish GDP @ 10:00, German unemployment rate @ 10:55 (prev & exp 6.8%)

11:30 SA PPI, prev 0.50%, exp 0.80%.
15:00 German CPI
15:30 US Continuing &  Jobless Claims & Core Durable Goods Orders
17:00 Fed Chair Yellen speaks

Dual:
BARC:Ln -1.84%
Tenc:HK +3.67%
SNHFY:US -0.13%
BHP:AU -0.52%
BB:US -0.34%
TCEHY:US -0.04%

New highs for Comair, Reinet, Steinhoff & new lows for Shoprite, Santam.

IGM T40 +201 pips atm (0.48%)

Gold 1343 vs 1333        , $/R 10.81 vs 10.72      , Copper 7.04 vs 7.11 , Nickel 14.46 vs 14.29       , Oil 103.78 vs 101.99


GLNCY

-0.64%



0805.HK

-1.75%



HMY

+1.89%



GLEN.L

-0.15

China's services sector regained some momentum in February but its manufacturing sector struggled, separate surveys showed on Monday, with the divergence adding to the difficulty in assessing the strength of the economy at the start of 2014.

Gold 1342 vs 1343        , $/R 10.86 vs 10.81      , Copper 7.04 vs 7.04 , Nickel 14.50 vs 14.46       , Oil 104.74 vs 103.78


GLNCY

-0.46%



GLEN.L

-0.91%



0805.HK

-1.52%



HMY

+1.23%


factory activity rebounded last month from an eight-month low and consumer spending increased more than expected in January, suggesting the economy was regaining some strength after abruptly slowing in recent months. The signs of a comeback, also evident in a surprise gain in construction spending, should bolster the Federal Reserve's resolve to keep scaling back its massive monetary stimulus

Theme for day is probably ‘stand-off’, obviously referring to Crimea abroad and platinum producers locally.

US ended +1.41%, +1.75%, +1.53%, futures negative atm.

Nikkei closed +1.2% , Topix +0.7% just now.  Still going, HangSeng -0.36%, Shanghai -0.80%, Sensex flat.

IGM T40 -11 pips @ 8:46

Eco Calendar:
02:30 AUS GDP came it at 2.8%, expected 2.5%
11:28 GB Services PMI
12:00 EUR GDP
15:15 US Nonfarm
17:00 ISM Non-manufacturing PMI

New highs Sabvest, Sappi, Grandparade, Bats, Mondi (both) Sasol, Old Mutual, Steinhoff.

New low Aveng, JDG, CAT

Dual:
NPSNY:US +4.41%
VOD:LN +2.24%
BARC:LN +1.98*
TENC:HK +1.88%
CFR:VX +1.68%
GLN:US +1.66
HMY:US -1.83%
TLKGY:US -1.11%
BHP:AU +1.18%

Companies added fewer workers than projected in February, a sign that U.S. employers were waiting for a pickup in demand before boosting headcount, a private report based on payrolls showed today.

The 139,000 increase in employment followed a revised 127,000 gain in January that was weaker than initially reported, the weakest two months since August-September 2012, according to the ADP Research Institute in Roseland, New Jersey. The median forecast of 39 economists surveyed by Bloomberg called for a 155,000 advance.