Wednesday, 19 March 2014
BASE METAL WRAP: Copper declined for the first time in five days on speculation that demand will slow as the U.S. Federal Reserve officials boosted their forecasts for key interest rates and China’s growth faltered.
ENERGY WRAP: West Texas Intermediate crude climbed above $100 a barrel after a government report showed that inventories at Cushing, Oklahoma, the delivery point for the contract, dropped for a seventh week. Brent oil decreased.
PRECIOUS METAL WRAP: Gold traded near the lowest in three weeks as Federal Reserve policy makers signaled a rise in interest rates by next year while further reducing monetary stimulus, boosting the dollar and curbing demand for the metal.
GLOBAL EVENTS TO WATCH: FOMC Press Conference, GDP q/q, BOJ Gov Kuroda Speaks, Libor Rate, SNB Monetary Policy Assessment, Unemployment Claims, Existing Home Sales, Philly Fed Manufacturing Index, CB Leading Index m/m, Natural Gas Storage.
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