Wednesday, 15 January 2014
BASE METAL WRAP: Copper prices advanced in London on speculation that an improving global economy will increase demand. Nickel rose to a 10-week high on concern that supplies will tighten as Indonesian bans ore exports.
ENERGY WRAP: West Texas Intermediate traded near the highest price in two weeks after government data showed crude inventories fell to the lowest level since March 2012 in the U.S., the world’s biggest oil consumer. Natural gas futures declined from a two-week high in New York on forecasts for milder weather that would limit demand for the heating fuel.
PRECIOUS METAL WRAP: Gold held a two-day decline from the highest level in a month on speculation that the U.S. economy is strong enough for the Federal Reserve to continue reducing asset purchases, boosting the dollar.
GLOBAL EVENTS TO WATCH: Employment Change, Unemployment Rate, Core CPI m/m, Unemployment Claims, CPI m/m, Treasury Sec Lew Speaks, TIC Long-Term Purchases, Philly Fed Manufacturing Index, NAHB Housing Market Index, Natural Gas Storage, Fed Chairman Bernanke Speaks, SNB Chairman Jordan Speaks.
ENERGY WRAP: West Texas Intermediate traded near the highest price in two weeks after government data showed crude inventories fell to the lowest level since March 2012 in the U.S., the world’s biggest oil consumer. Natural gas futures declined from a two-week high in New York on forecasts for milder weather that would limit demand for the heating fuel.
PRECIOUS METAL WRAP: Gold held a two-day decline from the highest level in a month on speculation that the U.S. economy is strong enough for the Federal Reserve to continue reducing asset purchases, boosting the dollar.
GLOBAL EVENTS TO WATCH: Employment Change, Unemployment Rate, Core CPI m/m, Unemployment Claims, CPI m/m, Treasury Sec Lew Speaks, TIC Long-Term Purchases, Philly Fed Manufacturing Index, NAHB Housing Market Index, Natural Gas Storage, Fed Chairman Bernanke Speaks, SNB Chairman Jordan Speaks.
