Wednesday, 9 July 2014
BASE METAL WRAP: China's copper imports
fell 7.9 percent month-on-month in June, dropping as Chinese banks reduced lending
for metals imports following a probe into an alleged metals fraud at Qingdao
port.
ENERGY WRAP: West Texas
Intermediate fell for a 10th day, the longest losing streak on record, after
government data showed U.S. gasoline stockpiles expanded amid reduced demand in
the world’s biggest oil user. Brent dropped in London.
PRECIOUS METAL WRAP: Gold held near the
highest level in a week as the dollar fell after the U.S. Federal Reserve
released minutes of its last meeting and tension increased in the Middle East,
boosting demand for a haven. Palladium advanced to a 13-year high.
GLOBAL EVENTS TO WATCH: ECB President Draghi
Speaks, Employment Change, Unemployment Rate, Trade Balance, Asset Purchase
Facility, Official Bank Rate, MPC Rate Statement, Unemployment Claims,
Wholesale Inventories m/m, Natural Gas Storage, 30-y Bond Auction.
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