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- COMMODITY MARKET STRATEGY 23 JULY 2014
Posted by : Simran Shah
Tuesday, 22 July 2014
BASE METAL WRAP:
Zinc and aluminium
prices hit their highest in more than a year as investors sought exposure to
commodities with improved fundamentals, but copper's gains were curbed by worries
over China's property sector and over a build-up of stocks.
ENERGY WRAP:
West Texas
Intermediate crude fell for a second day after an industry report showed
gasoline supplies expanded in the U.S., the world’s biggest oil consumer. Brent
was steady in London.
PRECIOUS METAL WRAP:
Gold traded below the
highest level in more than three months as investors assessed U.S. economic
data that strengthened the dollar and boosted equities, damping demand for an
alternative investment.
GLOBAL EVENTS TO WATCH:
CPI q/q, MPC Asset Purchase Facility Votes, MPC
Official Bank Rate Votes, BOE Gov Carney Speaks, Core Retail Sales m/m, Crude
Oil Inventories.
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