Wednesday, 20 August 2014
BASE METAL WRAP:
Copper prices are seen rebounding 8.4 percent as demand for the metal
used in pipes and wiring expands amid signs of tightening supplies, Standard
Chartered Plc forecasts.
Aluminum in London retreated from a six-month high as industrial metals
declined after worse-than-expected manufacturing data from China, the biggest
consumer.
ENERGY WRAP:
West Texas
Intermediate swung between gains and losses as U.S. crude stockpiles fell and a
measure of China’s manufacturing missed estimates. Brent was steady in London.
PRECIOUS METAL WRAP:
Gold fell for a fifth
day, poised for the longest slump since June, as minutes of the Federal
Reserve’s last meeting signaled that policy makers may increase borrowing costs
earlier than expected. Platinum headed for the longest losing run in 27 years.
GLOBAL EVENTS TO WATCH:
HSBC
Flash Manufacturing PMI, French Flash Manufacturing PMI, German Flash
Manufacturing PMI, Retail Sales m/m, Unemployment Claims, Flash Manufacturing
PMI, Philly Fed Manufacturing Index, Existing Home Sales, CB Leading Index m/m,
Natural Gas Storage, Jackson Hole Symposium.
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