Tuesday, 12 August 2014
BASE METAL WRAP:
Indonesia’s ban on nickel ore exports is resonating globally as prices
climb to the highest since 2012, prompting companies from Avebury Nickel Mines
Ltd. to Poseidon Nickel Ltd. to restart operations at idled mines.
ENERGY WRAP: West Texas
Intermediate fell for a second day after an industry report showed crude and
gasoline supplies expanded in the U.S., the world’s biggest oil user. Brent
dropped in London.
PRECIOUS METAL WRAP: Gold traded below a
three-week high as investors weighed the prospects for renewed fighting in Gaza
and simmering tension between Ukraine and Russia against the outlook for the
U.S. economy and a stronger dollar. Gold imports by India, the world’s biggest
consumer after China, will probably decline for a third year as the government
keeps curbs on shipments to prevent the current-account deficit from widening
and to support the rupee.
GLOBAL EVENTS TO WATCH: Prelim GDP q/q, New
Loans, M2 Money Supply y/y, Industrial Production y/y, Fixed Asset Investment
ytd/y, Retail Sales y/y, Average Earnings Index 3m/y, Claimant Count Change, BOE
Gov Carney Speaks, BOE Inflation Report, Core Retail Sales m/m, Retail Sales
m/m , FOMC Member Dudley Speaks, Business Inventories m/m, Crude Oil
Inventories, 10-y Bond Auction.
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