Wednesday, 18 June 2014
BASE METAL WRAP: Janet Yellen did more
of the usual as widely expected, the Fed pushed ahead with plans to wind down
one of its main stimulus programs, reducing its monthly asset purchases from
$45 billion to $35 billion beginning in July. Nickel-Prices
corrected sharply post the inventories showed a massive increase in the stocks
and the cancelled warrant ratio also declined.
ENERGY WRAP: West Texas
Intermediate rose for the first time in four days after a government report
showed U.S. crude supplies shrank and as Iraqi forces battled insurgents north
of Baghdad. Brent extended gains in London.
PRECIOUS METAL WRAP: Gold traded near the
highest level in three weeks as the U.S. Federal Reserve trimmed its outlook
for economic growth and said interest rates will remain low, boosting demand
for bullion as an alternative investment.
GLOBAL EVENTS TO
WATCH: FOMC Press Conference, GDP q/q, Libor Rate, SNB
Monetary Policy Assessment, SNB Press Conference, Retail Sales m/m,
Unemployment Claims, Philly Fed Manufacturing Index, CB Leading Index m/m,
Natural Gas Storage.
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