Tuesday, 8 July 2014
BASE METAL WRAP:
Zinc prices rose to a
35-month high as inventories dwindled amid speculation that increasing
auto sales in China and the U.S. will boost metal use.
ENERGY WRAP:
West
Texas Intermediate crude traded near the lowest price in more than a
month before inventory data that may signal the strength of fuel demand
in the U.S., the world’s biggest oil consumer. Brent was steady in
London.
PRECIOUS METAL WRAP:
Gold rose as
a decline in equities and the dollar spurred demand for an alternative
investment amid increased holdings in the largest exchange-traded fund.
Palladium headed for the longest rally in 14 years.
GLOBAL EVENTS TO WATCH:
CPI y/y, PPI y/y, Crude Oil Inventories, 10-y Bond Auction, FOMC Meeting Minutes.
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