Monday, 7 July 2014
BASE METAL WRAP: Nickel led industrial
metals lower, falling for the third session as some investors deemed supply of
the refined metal sufficient for now, even after Indonesia banned raw ore
exports in January.
ENERGY WRAP: West Texas
Intermediate traded near a one-month low, capping its longest losing streak
since 2009 before U.S. stockpile data that may signal the strength of demand
from the world’s biggest oil user. Brent slid in London.
PRECIOUS METAL WRAP: Gold held a retreat
from a three-month high as investors assessed the timing of U.S. interest-rate
increases. Palladium declined from the highest price since 2001 to snap the
longest rally in 10 months.
GLOBAL EVENTS TO WATCH: NZIER Business
Confidence, NAB Business Confidence, Manufacturing Production m/m, NFIB Small
Business Index, JOLTS Job Openings, FOMC Member Kocherlakota Speaks.
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