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- COMMODITY MARKET STRATEGY 22 JULY 2014
Posted by : Simran Shah
Monday, 21 July 2014
BASE METAL WRAP:
Aluminum entered a bull
market in London and traded near the highest in 16 months on speculation demand
will exceed supply for the metal used in everything from cars to packaging.
ENERGY WRAP:
West Texas
Intermediate rose for a second day before stockpile data that may signal the
strength of fuel demand in the U.S., the world’s biggest oil consumer. Brent
also increased in London. Natural gas futures slipped in New York to the lowest
price in more than seven months as meteorologists predicted mild weather, which
would curtail demand from power plants and help narrow a stockpile deficit.
PRECIOUS METAL WRAP:
Gold traded below the
highest level in more than three months as the dollar strengthened amid the
outlook for higher U.S. borrowing costs, countering haven demand fueled by
tension in Ukraine and Gaza.
GLOBAL EVENTS TO WATCH:
Core CPI m/m, CPI m/m, HPI m/m, Existing Home
Sales, Richmond Manufacturing Index, CPI q/q, Trimmed Mean CPI q/q.