Sharekhan Commodities Buzz dated February 09, 2007

[Sunil]

Commodities Buzz [February 09, 2007] Please see the attachment for details Share khan www.sharekhan.com

Summary of Contents   COMMODITIES BUZZ Copper: Trichet and crude oil save the day for copper Copper started the day on a soft note with Wednesday's selling pressure spilling over to yesterday's trading. The falling euro and weak crude oil prices on Wednesday's crude inventory emboldened the funds to sell the red metal aggressively and copper slipped to its key support point. The euro slipped lower on the ECB's decision (though widely anticipated) to hold its benchmark rate steady at 3.5%. However the hawkish comments of ECB President Jean- Claude Trichet (that the inflation rates are likely to increase later this year making it very likely that the ECB will raise rates in March and could go for one more hike after March) helped the euro to surge past $1.3000.

Regards, The Sharekhan Research Team myac...@sharekhan.com

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