Daily Commodity Report as -...

Daily Commodity Report as on Thursday, April 13, 2017

Date : Thursday, April 13, 2017 URL : www.achiieversequitiesltd.com Page No - 1

Open High Low Close % Cng OI

Gold 29216 29297 29167 29229 0.12 7467Silver 42308 42418 42154 42202 0.04 12309

Alum. 124.1 124.1 122.3 122.35 -1.13 2063Copper 371.55 372.4 363 363.75 -2.55 21537Lead 145.25 145.75 144.05 145.45 -0.27 2102Nickel 637.5 638 627.5 628.4 -1.52 35098Zinc 166.65 168.35 165.2 168.1 1.27 5202

Crude 3456 3478 3432 3444 -0.12 13118Nat. Gas 204.6 207.2 202.9 206.7 1.37 5985

Cardamom 1265.6 1284 1265.6 1270.6 0.59 850Turmeric 6270 6270 6160 6196 -0.86 19205

Jeera 19440 19470 18970 19250 -1.26 18441Dhaniya 7205 7318 7011 7261 0.67 58710

Wheat 1655 1665 1654 1658 -0.48 10520

Soyabean 2924 2965 2917 2961 1.47 134930Ref. Oil 620.5 624.8 617.95 624.5 0.48 58110CPO 513 518 510.2 517.1 0.66 6051RMSeed 3869 3901 3868 3896 0.65 68630Menthol 982 987 980 983.8 0.58 2341Cotton 20810 20820 20660 20720 -0.48 6077

USDINR 64.78 64.84 64.63 64.77 0.22 1241014EURINR 68.69 68.89 68.60 68.76 0.11 63865GBPINR 80.81 81.07 80.75 81.02 0.78 42447JPYINR 59.09 59.30 59.01 59.13 1.09 19517

1

Turmeric prices dropped tracking lower prices in spot market due to higher supplies and steady demand.Currency

Jeera dropped on profit booking after prices gained due to expectation of good demand for exports coupled with lower than expected supplies.


Natural gas recovered on short-covering ahead of the weekly US Energy Information Administration natural gas storage report.

Ref soyoil prices gained on buying at lower level amid hopes of higher demand for soymeal in export marker.Cereals

Mentha oil gained amid pick-up in demand in the domestic spot market. Oil and Oilseeds & Others

Soyabean gained on account of lower arrivals in the mandis due to hoarding by farmers and demand hopes also supporting prices.

Energy Copper eased shrugging off a tentative recovery in the broader financial markets as geopolitical tensions and fading hopes for a boost to U.S. demand pressured prices.

Zinc gained on short covering after prices dropped recently as data showed Chinese mine supply surged by nearly a fifth last year.

Nickel dropped as a tentative recovery in broader financial markets lost steam, with geopolitical tensions and fading hopes of a boost to U.S. demand putting pressure on prices.Spices

Market Round upPrecious Metals

Gold steadied as the dollar reversed losses and political tensions simmered, leaving investor interest in safe havens like the precious metal largely intact.

Base MetalSilver settled flat after prices seen supported as heightened geopolitical tensions underpinned safe haven demand for the precious metal.

Crude oil prices dropped as prices gave back some of its gain despite bullish data showing a surprise inventory draw.

President Donald Trump told the dollar "is getting too strong" and that he would prefer the Federal Reserve to keep interest rates low.

Gold steadied as the dollar reversed losses and political tensions simmered, leaving investor interest in safe havens like the precious metal largely intact.


CLOSE 42202 RES-1 42362

% CNG 0.04 RES-2 42522

Silver settled flat after prices seen supported as heightened geopolitical tensions underpinned safe haven demand for the precious metal. Investors continued to play it safe as concerns over U.S. military action against Syriaand North Korea along with worries over the French presidential election. Risk-off sentiment has boosted to demand for traditional safe-haven assets including bullion, as investors sought refuge from the recent marketvolatility amid increased geopolitical concerns. U.S. – Russia relations remained in the political spotlight, as U.S. Secretary of State Rex Tillerson was expected in Moscow on Wednesday to meet with his Russian counterpartSergey Lavrov and discuss a number of sensitive topics including the Korean peninsula, Syria and bilateral relations. The meeting between Tillerson and Lavrov, came fresh off the heels of comments from Russia PresidentVladimir Putin on Wednesday, after he said trust had eroded between the United States and Russia. Geopolitical tension on the Korean Peninsula also provided support. A call on Wednesday between Chinese President XiJinping and U.S. President Donald Trump called for a peaceful resolution of concerns with North Korea's nuclear and missile programs. Trump told the Wall Street Journal, that he thinks the currency (dollar) is getting toostrong and hinted that he may reappoint Janet Yellen to chair the Federal Reserve Board when her term ends in 2018, as he added "I do like a low-interest rate policy, I must be honest with you,” Technically market is undershort covering as market has witnessed drop in open interest by -2.36% to settled at 12309 while prices up 15 rupees, now Silver is getting support at 42098 and below same could see a test of 41994 level, And resistance isnow likely to be seen at 42362, a move above could see prices testing 42522.

BUY SILVER MAY 2017 @ 42280 SL 42100 TGT 42480-42650.MCX

Chinese President Xi Jinping called for a peaceful resolution of escalating tensions on the Korean peninsula during a call with U.S President Donald Trump.

HIGH 42418 SUP-1 42098

LOW 42154 P.P. 42258

Gold on MCX settled up 0.12% at 29229 as the dollar reversed losses and political tensions simmered, leaving investor interest in safe havens like the precious metal largely intact. The U.S. dollar took a heavy hit afterPresident Donald Trump told the Wall Street Journal the dollar "is getting too strong" and that he would prefer the Federal Reserve to keep interest rates low. Meanwhile, tensions continued over the United States'relationship with Russia over Syria and in the Korean peninsula, while worries about the upcoming French presidential election also kept investors nervous. Russian President Vladimir Putin said on Wednesday trust haderoded between the United States and Russia under President Donald Trump as Moscow delivered an unusually hostile reception to Secretary of State Rex Tillerson in a face-off over Syria. U.S. import prices recorded theirbiggest drop in seven months in March as the cost of petroleum declined, but the underlying trend pointed to a moderate rise in imported inflation as the dollar's rally fades. Chinese President Xi Jinping stressed the need fora peaceful solution for the Korean peninsula on a call with U.S President Donald Trump. Goldman Sachs on Wednesday maintained its near-term target for gold at $1,200 per ounce and 12-month target at $1,250 per ounce.Technically market is under fresh buying as market has witnessed gain in open interest by 2.54% to settled at 7467 while prices up 36 rupees, now Gold is getting support at 29165 and below same could see a test of 29101level, And resistance is now likely to be seen at 29295, a move above could see prices testing 29361.

MCX Silver May 2017 TRADING IDEA

OPEN 42308 SUP-2 41994 Silver trading range for the day is 41994-42522.

Investors continued to play it safe as concerns over U.S. military action against Syria and North Korea along with worries over the French presidential election.

Silver settled flat after prices seen supported as heightened geopolitical tensions underpinned safe haven demand for the precious metal.

CLOSE 29229 RES-1 29295 Meanwhile, tensions continued over the US relationship with Russia over Syria and in the Korean peninsula and worries about the upcoming French presidential election.

% CNG 0.12 RES-2 29361 BUY GOLD JUN 2017 @ 29260 SL 29150 TGT 29380-29500.MCX

HIGH 29297 SUP-1 29165

LOW 29167 P.P. 29231

MCX Gold Jun 2017 TRADING IDEA

OPEN 29216 SUP-2 29101 Gold trading range for the day is 29101-29361.

Copper on MCX settled down -2.55% at 363.75 shrugging off a tentative recovery in the broader financial markets as geopolitical tensions and fading hopes for a boost to U.S. demand pressured prices. Copper has falteredafter BHP Billiton restarted production in Chile last week and Freeport McMoRan said it was waiting for final details on a temporary export permit in Indonesia. Concerns over supply disruptions had sent the metal to a 1-1/2year high of $6,204 in mid-February. The discount of LME cash copper to the three-month contract was at $32 a tonne, close to the biggest in four years, indicating adequate supply of refined metal in the market. Unionrepresentatives and executives from miner Southern Copper in Peru failed to reach an accord to end an indefinite strike, the union said. Eurozone industrial production declined 0.3% in February compared with expectationsof a 0.1% increase for the month and the January data was revised significantly lower to an increase of 0.3% compared with the original estimate of 0.9%. There was a sharp 4.7% decline in energy output for the monthwhile non-durable consumer goods production also declined on the month. In contrast, capital goods and intermediate goods output both increased for the month. Technically market is under fresh selling as market haswitnessed gain in open interest by 35.38% to settled at 21537 while prices down -9.5 rupees, now Copper is getting support at 360.4 and below same could see a test of 357 level, And resistance is now likely to be seen at369.8, a move above could see prices testing 375.8.

BUY COPPER APR 2017 @ 363.00 SL 360.00 TGT 366.50-368.50.MCX

Prices remained under pressure amid impatience over the lack of details around Trump's plans for infrastructure

The metal slipped this week along with other cyclical assets as concerns over North Korea and the Middle East ratcheted up.

Copper eased shrugging off a tentative recovery in the broader financial markets as geopolitical tensions and fading hopes for a boost to U.S. demand pressured prices.


CLOSE 363.8 RES-1 369.8

% CNG -2.55 RES-2 375.8

HIGH 372.4 SUP-1 360.4

LOW 363.0 P.P. 366.4

Crudeoil on MCX settled down -0.12% at 3444 as prices gave back some of its gain on some ground in yesterday session tracking weakness from NYMEX Crude which slid by $0.29 to settled at $53.11 a barrel after reachinga one-month high of $53.76 a barrel as traders cashed in on the recent strength despite a report from the EIA showing an unexpected drop in crude oil inventories. Yesterday the US EIA early Wednesday reported thatdomestic crude supplies fell by 2.2mbls for the week ended April 7, after climbing in each of the previous three weeks. Crude stockpiles have only posted two weekly declines this year to date, according to EIA data. While aday earlier the API late Tuesday reported a 1.3mbl decline, according to sources. In a monthly report released Wednesday, the OPEC said its member output continued to fall in March, but the group also said raised its 2017forecast for supply growth in the U.S. by 200,000 barrels a day. The EIA’s weekly report revealed a rise of 36,000bpd in last week’s total U.S. crude production to 9.235mbls a day. In its short-term outlook report releasedMonday, the EIA said it expects to see record U.S. oil production in 2018. Prices were boosted earlier on Wednesday following reports that Saudi Arabia has told officials from the OPEC that it wants to extend an agreement tocut output for another six months when the group meets in May. Technically market is getting support at 3424 and below same could see a test of 3405 level, And resistance is now likely to be seen at 3470, a move abovecould see prices testing 3497.

MCX Copper Apr 2017 TRADING IDEA

OPEN 371.6 SUP-2 357.0 Copper trading range for the day is 357-375.8.

CLOSE 3444 RES-1 3470 Prices were boosted earlier after the reports that Saudi has told officials from the OPEC that it wants to extend an agreement to cut output.

% CNG -0.12 RES-2 3497 SELL CRUDEOIL APR 2017 @ 3418 SL 3460 TGT 3385-3340.MCX

EIA said in its weekly report that crude oil inventories fell by 2.166 million barrels in the week ended April 7.

HIGH 3478 SUP-1 3424

LOW 3432 P.P. 3451

Crude oil prices dropped as prices gave back some of its gain despite bullish data showing a surprise inventory draw.

MCX Crudeoil Apr 2017 TRADING IDEA

OPEN 3456 SUP-2 3405 Crudeoil trading range for the day is 3405-3497.

Miners in the world's top producer of the raw metal were allowed to remove previously mined ore that could pose environmental hazards.

Nickel dropped as a tentative recovery in broader financial markets lost steam, with geopolitical tensions and fading hopes of a boost to U.S. demand putting pressure on prices.

The global zinc market moved into a surplus of 19,800 tonnes in February from a deficit of 22,300 tonnes in January, data from ILZSG showed.

Zinc gained on short covering after prices dropped recently as data showed Chinese mine supply surged by nearly a fifth last year.

HIGH 638.0 SUP-1 624.6

LOW 627.5 P.P. 631.3

Zinc on MCX settled up 1.27% at 168.1 on short covering after prices dropped recently as data showed Chinese mine supply surged by nearly a fifth last year. The global zinc market moved into a surplus of 19,800 tonnes inFebruary from a deficit of 22,300 tonnes in January, data from ILZSG showed. In the first two months of the year, the zinc market was in a deficit of 2,000 tonnes versus a surplus of 44,000 tonnes in the same period lastyear. Zinc continues to see plenty of sellers lined up on every rally amid increasingly aggressive CTA selling and ongoing long liquidation. Chinese consumer prices weakened further in March, but were little changedcompared to a year ago, while producer prices rose at a steady pace. Beijing’s official consumer price index (CPI) rose 0.9% from a year ago, after slowing to 0.8% in February, the National Bureau of Statistics said in areport on Wednesday. UK consumer prices rose 0.4% in March compared with expectations of a 0.3% increase and the year-on-year rate was unchanged at 2.3%. The annual rate was in line with consensus forecasts andequalled the highest rate since September 2013. The core inflation rate declined to 1.8% from 2.0% and compared with expectations of a smaller decline to 1.9%. Technically market is under short covering as market haswitnessed drop in open interest by -19.09% to settled at 5202 while prices up 2.1 rupees, now Zinc is getting support at 166.1 and below same could see a test of 164.1 level, And resistance is now likely to be seen at 169.2,a move above could see prices testing 170.3.

MCX Nickel Apr 2017 TRADING IDEA

OPEN 637.5

Nickel on MCX settled down -1.52% at 628.40 tracking weakness in LME nickel ended the day down 1.1 percent at $9,735 a tonne as a tentative recovery in broader financial markets lost steam, with geopolitical tensions andfading hopes of a boost to U.S. demand putting pressure on prices. Meanwhile sentiments still remain robust after the news update that the two biggest nickel miners in the Philippines, Nickel Asia Corp and Global FerronickelHoldings Inc, said prices for the metal would be robust this year due to growing demand from China. The Philippines is the world's top supplier of nickel ore, used to help make stainless steel, with China its No.1 market.Benchmark nickel prices stood around $9750 a tonne in yesterday session, but forecasts from the likes of the World Bank show they could average around $11,000 in 2017. That would compare to around $9,500 last year.The nation's largest ore producer, Nickel Asia, said in its own statement that prices had held up "very well" in the first quarter and would likely remain firm due to low inventory levels in China. Parts of the Philippines' metalssector have been roiled as its resources minister, a committed environmentalist, this year ordered the closure of more than half the nation's mines to protect watersheds. One of Nickel Asia's four mines is among the 22ordered closed and the company has said it would pursue all legal remedies to overturn the order. Global Ferronickel is not among companies facing mine closures or suspensions. Now technically market is getting support at624.6 and below same could see a test of 620.8 level, And resistance is now likely to be seen at 635.1, a move above could see prices testing 641.8.

BUY NICKEL APR ABV 634 SL BELOW 625 TGT 640-648. MCX (BTST)

Two biggest nickel miners in the Philippines said prices for the metal would be robust this year due to growing demand from China.


CLOSE 628.4 RES-1 635.1

% CNG -1.52 RES-2 641.8

SUP-2 620.8 Nickel trading range for the day is 620.8-641.8.

CLOSE 168.1 RES-1 169.2 In the first two months of the year, the zinc market was in a deficit of 2,000 tonnes versus a surplus of 44,000 tonnes in the same period last year.

% CNG 1.27 RES-2 170.3 BUY ZINC APR 2017 @ 167.50 SL 166.00 TGT 168.80-170.00.MCX

HIGH 168.4 SUP-1 166.1

LOW 165.2 P.P. 167.2

MCX Zinc Apr 2017 TRADING IDEA

OPEN 166.7 SUP-2 164.1 Zinc trading range for the day is 164.1-170.3.

Turmeric farmers and traders have been hit hard by poor sales during peak season.

Turmeric prices dropped tracking lower prices in spot market due to higher supplies and steady demand.

The arrivals have been lower during the second half of current month compared to last month same period while the demand have increased.

Jeera dropped on profit booking after prices gained due to expectation of good demand for exports coupled with lower than expected supplies.

HIGH 6270 SUP-1 6146

LOW 6160 P.P. 6208

Jeera on NCDEX settled down by -1.26% at 19250 on profit booking after prices gained due to expectation of good demand for exports coupled with lower than expected supplies. The arrivals have been lower during thesecond half of current month compared to last month same period while the demand have increased. Sources estimate India’s jeera crop output will be around 2.5 lakh tonnes, lower than the 3.75 to 5 lakh-tonne estimatesput out by experts. Even at the lower crop estimate, jeera exports are projected to range between 100,000-150,000 tonnes, for the year. Exports will happen in spite of higher prices because there is no supplier of jeeraavailable globally. Syria has a significant share at 30,000-40,000 tonnes, while Turkey is very small at 10,000 tonnes. Going forward, arrivals will shrink. After reaching a peak of 45,000-50,000 bags (each of 55 kg), arrivalsat Unjha, have fallen to about 25,000-30,000 bags now and will shrink further to about 5000-10,000 bags by May. In the wake of high demand and reducing supplies, we expect a fresh peak levels in Jeera prices in thecoming weeks. As per data, during second half of March about 21,722 tonnes of jeera arrived compared to 22,108 during first half. On the export front, country the exports increase by 32.7% to 1,01,188 tonnes in first 10month of marketing year 2016/17 as per the data release by Dept of commerce, GOI. In Unjha, a key spot market in Gujarat, jeera edged down by -6.45 Rupees to end at 18840 Rupees per 100 kg.Technically now Jeera isgetting support at 18990 and below same could see a test of 18730 level, And resistance is now likely to be seen at 19490, a move above could see prices testing 19730.

NCDEX Turmeric May 2017 TRADING IDEA

OPEN 6270 SUP-2 6098 Turmeric trading range for the day is 6098-6318.

CLOSE

Turmeric on NCDEX settled down by -0.86% at 6196 tracking lower prices in spot market due to higher supplies and steady demand. Turmeric farmers and traders have been hit hard by poor sales during peak season. Manytraders and farmers expected good sales of turmeric during the peak period, which started a month ago. But, this year, for the first time in recent history, both farmers and traders are in agony due to poor production andtepid demand from North India. However, turmeric arrivals in the country is on higher side during second half of March at 79,534 tonnes compared to 63,965 tonnes during last month same period, as per the data. On theexport front, country exported about 89,704 tonnes during April-Jan period, up by 28.3% compared to last year exports of 69,870 tonnes, as per government data. There are expectations of improved demand in comingweeks as prices are lower. At Erode market arrivals were reported at 8000 quintals, up by 3000 quintals from previous trading day. At Nizamabad market arrivals were reported at 45000 quintals, up by 30000 quintals asagainst previous day. At Warangal market estimated market supply was at 2500 bags, up by 1000 bags as compared to previous day. The arrival of turmeric especially the new turmeric increased. At the Erode TurmericMerchants Association Sales yard finger turmeric sold at Rs. 5,299 to 8,033 a quintal, root variety sold at Rs. 5,199 to 7,014. In Nizamabad, a major spot market in AP, the price ended at 5970 Rupees dropped -10Rupees.Technically now Turmeric is getting support at 6146 and below same could see a test of 6098 level, And resistance is now likely to be seen at 6256, a move above could see prices testing 6318.


CLOSE 6196 RES-1 6256

% CNG -0.86 RES-2 6318 SELL TURMERIC MAY 2017 @ 6250 SL 6350 TGT 6120-6020.NCDEX

NCDEX accredited warehouses turmeric stocks gained by 179 tonnes to 2803 tonnes.

19250 RES-1 19490 NCDEX accredited warehouses jeera stocks gained by 159 tonnes to 834 tonnes.

% CNG -1.26 RES-2 19730 BUY JEERA MAY 2017 @ 19100 SL 18980 TGT 19320-19500.NCDEX

HIGH 19470 SUP-1 18990

LOW 18970 P.P. 19230

NCDEX Jeera May 2017 TRADING IDEA

OPEN 19440 SUP-2 18730 Jeera trading range for the day is 18730-19730.

DAILY MARKET LEVEL FOR METAL AND ENERGY

Mentha oil on MCX settled up by 0.58% at 983.8 amid pick-up in demand in the domestic spot market. Further, tight stocks due to fall in arrivals from Chandausi too led to the rise in mentha oil prices. However upside seenlimited on speculation that the area under cultivation can increase this year resulting good production. Total production of mentha oil during the current season is 32,000-34,000 tonnes against preliminary estimates ofaround 40,000 tonnes. Unfavourable weather conditions during harvesting period led to the drop in production. On the demand side, the seasonal demand emerges during winter season, especially from the pharma sector.Sources mentioned that nearly 14500 MT of mint products were exported in six months of the current financial year. This implies that export demand for the complete financial year can be between 27000 and 29000 MT quitecheaper, versus 23000 of total exports last year. Farmers are keeping most of the stocks in their hands. Most buyers are willing to buy at these levels. Since farmers are keeping most of stocks, thus whenever requirementarises, industry people will be purchasing from the farmers. Trade sources estimate that total area under Mentha planting has dropped by 20% to 1.75 lakh ha this season resulting into a proportionate fall in Mentha oilproduction this year. Mentha oil spot at Sambhal closed at 1120.20 per 1kg. Spot prices was up by Rs.3.70/-.Technically market is under fresh buying as market has witnessed gain in open interest by 0.21% to settled at2341 while prices up 5.7 rupees, now Menthaoil is getting support at 980.2 and below same could see a test of 976.6 level, And resistance is now likely to be seen at 987.2, a move above could see prices testing 990.6.

SELL MENTHAOIL APR 2017 @ 990.00 SL 1004.00 TGT 982.00-972.00.MCX

Further, tight stocks due to fall in arrivals from Chandausi too led to the rise in mentha oil prices.

Mentha oil gained amid pick-up in demand in the domestic spot market.

Mentha oil spot at Sambhal closed at 1120.20 per 1kg. Spot prices was up by Rs.3.70/-.

147.9146.8146.2

142.8143.4144.5

2102

145.1

0.3


Negative Negative

SPREAD 142 483 37.00 5.40 4.60 0.55 6.40

TREND Positive Positive Negative Positive Negative Positive Negative

0.65

620.8 121.129165 42098 3424 204.0 360.4

OI 7467 12309 13118 5985 21537 5202 35098 2063163.0 614.1 119.9

166.1 624.6 121.7164.1

P. POINT 29231 42258 3451 205.6 366.4

29035 41834 3378 199.7 351.0SUPPORT 29101 41994 3405 201.3 357.0

369.8 169.2 635.1 123.5167.2 631.3 122.9

RESISTANCE29425 42626 3516 212.6 379.2 172.3 645.6 125.329361 42522 3497 209.9 375.8 170.3 641.8 124.729295 42362 3470 208.3

CLOSE 29229 42202 3444 206.7

LEAD

145.5

CLOSE 983.8 RES-1 987.2

% CNG 0.58 RES-2 990.6

363.75 168.1 628.4 122.35

COMMODITIES GOLD SILVER CRUDE NAT.GAS COPPER ZINC NICKEL ALUMINUM

HIGH 987.0 SUP-1 980.2

LOW 980.0 P.P. 983.6

MCX Menthaoil Apr 2017 TRADING IDEA

OPEN 982.0 SUP-2 976.6 Menthaoil trading range for the day is 976.6-990.6.

11:30am EUR 0.002 0.00212:15pm EUR 0.006 0.0066:00pm USD 0 0.0036:00pm USD 242K 234K6:00pm USD 0.002 0.0037:30pm USD 97.1 96.97:30pm USD 0 0.0258:00pm USD 5B 2B

0 0 0 00 0 0 00 0 0 00 0 0 00 0 0 0

India's Iran oil imports jumped to a record high in 2016/17 topping half-a-million barrels per day(bpd) as refiners boosted purchases after lifting of some Western sanctions against Tehran last year.India, Iran's biggest oil buyer after China, was among a handful of countries that continued to dealwith Tehran despite Western sanctions over its nuclear programme. Refiners shipped in about541,000 bpd of Iranian oil in the fiscal year to March, a growth of about 115 percent over theprevious year, ship tracking data obtained from sources and data compiled by Thomson Reuters OilResearch & Forecasts showed. Iran was India's second biggest oil supplier - a position now belongingto Iraq - before economic sanctions aimed at Iran's nuclear programme hampered its trade relations,forcing the South Asian nation to tap alternative suppliers. Purchases by Indian refiners, includingReliance Industries that resumed imports last year after a multi-year lay-off, helped Iran regain someof the lost market share. Imports from Iran could ease in this fiscal year as state-refiners have agreedto cut their annual imports deal with Iran by a fifth to put pressure on Tehran to award the Farzad Bgas field to an Indian consortium.

NEWS YOU CAN USE

French Final CPI m/mPPI m/mUnemployment ClaimsCore PPI m/mPrelim UoM Consumer SentimentPrelim UoM Inflation Expectations

DAY

8

Eurozone is experiencing a resilient recovery, sustained by monetary policy and the recent upbeatdata suggest that the momentum is likely to be maintained, European Central Bank Vice-PresidentVitor Constancio said. "But it is too soon to declare complete success: we have yet to secure asustained convergence in inflation towards our goal of close to but below 2 percent over the mediumterm," Constancio said in a speech at the EUROFI Conference, Malta. "With the recovery underway,we should aim to build euro area resilience to future shocks." He defended the ECB's current policystance saying that inflation is not yet self-sustaining. "As ever, we are data dependent; we recognizethat there has been improvement in the situation and if inflation gives signs of a sustained pathtowards our aims, we will reassess our present policy stance," the rate-setter said. The policymakerdescribed the recent easing in underlying inflation as "disappointing". Domestic drivers of inflation,namely wages, are not yet responding to the recovery and the narrowing output gap, he pointed out.The ECB Staff has projected inflation to move towards 1.7 percent in 2019, predicated on underlyinginflation and wage growth of 1.8 percent and 2.4 percent, respectively.

Nonfarm payrolls increased by 98,000 jobs last month as the retail sector shed employment for asecond straight month, the Labor Department said on Friday, the fewest since last May. The economyenjoyed job gains in excess of 200,000 in January and February as unusually warm temperaturespulled forward hiring in weather-sensitive sectors like construction, leisure and hospitality. In March,temperatures dropped and a storm lashed the Northeast. The unemployment rate fell two-tenths of apercentage point to 4.5 percent, the lowest level since May 2007. The economy needs to create75,000 to 100,000 jobs per month to keep up with growth in the working-age population. The labormarket is expected to hit full employment this year, which could drive faster wage growth. The weakpayrolls gain could raise concerns about the economy's health especially given signs that grossdomestic product slowed to around a 1.0 percent annualized growth pace in the first quarter afterrising at a 2.1 percent rate in the fourth quarter.

The India Met Department (IMD) has forecast the possibility of a low-pressure area forming overSouth-East and adjoining East-Central Bay of Bengal by Friday. This could set off a pre-monsoon buzzin the Bay in the run-up to the onset of the South-West monsoon over the next 45 days. Early modelforecasts indicated that the ‘low’ would pick up strength, but travel away from the East coast of India(Tamil Nadu-Andhra Pradesh-Odisha) and guide itself east-north-east, eyeing theMyanmar/Bangladesh coast by April 20. More recent forecasts (including that of the IMD) have it thatthe system, a depression or even a cyclone, could instead gravitate to the Bengal coast for a landfall.These are early assessments of the likely behaviour of the system, the orientation of which would alsodepend a lot on concurrent western disturbances that move across North-West and East India. Atleast two models — from the Japanese Meteorological Agency and the UK Met Office — do not see apowerful system being initiated in the Bay any time soon. But others do, among them the EuropeanCentre for Medium-Range Forecasts, the Navy Global Environment Model (Navgem) of the US, theGlobal Forecast System (GFS) of the US National Centres for Environmental Prediction, and theCanadian Meteorological Centre (CMC). The European Centre sees the ‘low’ in South-Central Bayspinning away east-north-east to become a probable cyclone and heading towards

The United States department of agriculture (USDA) maintained 2016-17 United States soybeanproduction forecast for April while hiked forecast for ending stockpiles, the department said in itsWorld Agriculture Supply and Demand Estimates report. The USDA expects soybean output in US, theworld's biggest bean grower, at 117.2 million tons in April unchanged from the previous month whilehigher than 106.9 million tons a year ago. USDA hiked 2016-17 US soybean ending stockpiles to 445million bushels in April as compared to 435 million bushels in March while higher than 197 millionbushels estimated in the same period a year ago. Soybean production forecast for Brazil, the world'ssecond biggest soybean producer, pegged to 111 million tons in April as compared to 108 March and96.5 million tons in April 2015-16, the USDA said. Bean output estimation for Argentina, world's thirdbiggest soybean producer, was also hiked to 56 million bushels for April month as compared to 55.5million tons in the previous month while lower than forecast of 56.8 million tons in the previous year.

Date : Thursday, April 13, 2017 URL : www.achiieversequitiesltd.com Page No -

Natural Gas Storage000

00

PREV

Thu

German Final CPI m/m

TIME ZONE ECONOMICAL DATA EXP

Daily Commodity Report as -...

Documents

Transcript of Daily Commodity Report as -...