Wednesday, 2 July 2014
BASE METAL WRAP: Copper prices climbed
to a 16-week high in London as manufacturing expanded at the fastest pace this
year in China, the world’s largest user of the metal used in pipes and wires.
ENERGY WRAP: West Texas
Intermediate crude traded near the lowest price in almost three weeks before
stockpile 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 traded below a
three-month high on signs that the rally damped physical demand and as
investors assessed the outlook for U.S. borrowing costs before Federal Reserve
Chair Janet Yellen speaks today. Platinum fell from the highest since September
and palladium snapped a seven-day rally.
GLOBAL EVENTS TO WATCH: Trade Balance,
Construction PMI, Challenger Job Cuts y/y, ADP Non-Farm Employment Change,
Factory Orders m/m, Crude Oil Inventories, Fed Chair Yellen Speaks.
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