Wednesday, 21 May 2014
BASE METAL WRAP:
London copper edged up
on Thursday from a nine-day low hit the session before after Federal Reserve
meeting minutes reassured markets that discussions around rate hikes were
"prudent planning" and not a sign hikes would come any time soon.
ENERGY WRAP:
West Texas
Intermediate traded near the highest price in more than four weeks after a
Chinese manufacturing gauge rose, signaling a stabilizing economy in the
world’s second-biggest oil consumer. Brent was steady in London.
PRECIOUS METAL WRAP:
Gold fell on Wednesday
as the dollar climbed and equities maintained gains after minutes of the U.S.
Federal Reserve's last policy meeting showed the central bank began to lay
groundwork for an eventual retreat from stimulus but no final decisions were
taken. The RBI eased tough gold import rules on Wednesday by allowing seven
more private agencies to ship the precious metal.
GLOBAL EVENTS TO WATCH:
HSBC Flash
Manufacturing PMI, French Flash Manufacturing PMI, German Flash Manufacturing
PMI, Second Estimate GDP q/q, Core Retail Sales m/m, Unemployment Claims, Flash
Manufacturing PMI, Existing Home Sales, CB Leading Index m/m, Natural Gas
Storage.
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