Thursday, 1 May 2014
BASE METAL WRAP:
Copper prices fell to a
two-week low on Thursday, following the release of disappointing data on
China’s manufacturing sector and after Federal Reserve decided to taper its
monthly bond-buying program by $10 billion for the fourth consecutive meeting.
ENERGY WRAP:
Crude futures fell on
Thursday after a Chinese factory barometer missed market forecasts, though positive
spending and factory data out of the U.S. cushioned losses.
PRECIOUS METAL WRAP:
Gold headed for a
weekly loss after the Federal Reserve pressed on with cuts to stimulus amid
signs of a recovery in the U.S. and holdings in the largest bullion-backed
exchange traded fund contracted to a five-year low.
GLOBAL EVENTS TO WATCH:
PPI q/q, Construction PMI, Non-Farm Employment
Change, Unemployment Rate, Average Hourly Earnings m/m, Factory Orders m/m.
