Thursday 12 June 2014
BASE
METAL WRAP:
Copper in London pared a third weekly loss, the longest streak since
March, as some physical demand outweighed concerns that a warehousing probe at
China’s Qingdao port will curb demand for the metal.
ENERGY
WRAP:
West Texas Intermediate crude headed for the biggest weekly advance, and
Brent gained as escalating violence in Iraq threatened supplies from OPEC’s
second-largest oil producer. Natural gas futures climbed the most in almost
four months, reaching a five-week high, after a government report showed that a
U.S. stockpile expansion was smaller than forecast.
PRECIOUS
METAL WRAP:
Gold rose to a two-week high on demand for a haven. U.S. recovery may be
stalling and violence in Iraq will escalate boosted demand for a haven. Gold
advanced as equity markets declined, Platinum rose 0.5 percent to $1,451.38 an
ounce, Silver rose as much as 0.5 percent to $19.6323 an ounce.
GLOBAL
EVENTS TO WATCH:
BOE Gov Carney Speaks, Monetary Policy Statement,
Industrial Production y/y, Fixed Asset Investment ytd/y, Retail Sales y/y, BOJ
Press Conference, Manufacturing Sales m/m, Manufacturing Sales m/m, PPI m/m,
Core PPI m/m, Prelim UoM Consumer Sentiment, Prelim UoM Inflation Expectations.
