Monday 4 August 2014
BASE METAL WRAP:
Copper rose on Monday as a rally in China's stock markets indicated
improving prospects for demand in the world's largest consumer of the
industrial metal, although growing global supplies kept investors cautious.
ENERGY WRAP: West Texas
Intermediate crude traded near the highest price in three days before supply
data that will signal the strength of fuel demand in the U.S., the world’s
biggest oil consumer. Brent in London was steady.
PRECIOUS METAL WRAP: Gold held below $1,300
an ounce as Portugal’s bailout of Banco Espirito Santo SA reduced concern the
lender’s crisis may spread and tension in Gaza eased, damping demand for a
haven. Silver rose from a six-week low.
GLOBAL EVENTS TO WATCH: Trade Balance, HSBC Services PMI, Cash Rate,
RBA Rate Statement, Services PMI, Final Services PMI, ISM Non-Manufacturing
PMI, Factory Orders m/m, IBD/TIPP Economic Optimism.
