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Posted by : Simran Shah Monday, 16 June 2014


BASE METAL WRAP:

Copper futures rose for the second straight session on signs that demand will pick up as economies gain in China, the world’s top consumer of industrial metals, and the U.S. manufacturing output and factory data, the second-biggest.


ENERGY WRAP:

West Texas Intermediate fell as a technical indicator shows last week’s increase to the highest price in nine months was excessive. Brent in London dropped amid speculation Iraqi forces will slow the advance of insurgents. U.S. crude inventories probably shrank by 750,000 barrels in the week ended June 13.


PRECIOUS METAL WRAP:

Gold extended a decline from the highest level in three weeks before the U.S. Federal Reserve begins a two-day policy meeting today and as investors assessed the tension in Iraq and Ukraine. Silver for immediate delivery decreased 0.4 percent to $19.5828 an ounce. Silver is taking its cues from gold but also being weighed down by the IMF downgrade of US growth and disappointing data from China.


GLOBAL EVENTS TO WATCH:

Monetary Policy Meeting Minutes, CPI y/y, German ZEW Economic Sentiment, Building Permits, Core CPI m/m, CPI m/m, Housing Starts.


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