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COMMODITY MARKET STRATEGY 03 SEPTEMBER 2014
BASE METAL WRAP: Copper advanced in
London as U.S. manufacturing expanded at the quickest clip in three years and
construction spending rebounded, signaling increased demand.
ENERGY WRAP: Natural gas prices
dropped on Tuesday after weather forecasting models called for falling
temperatures across the U.S., which should cut into the need for air
conditioning and thus reduce demand for the commodity at the nation's thermal
power plants. Oil prices dropped on
Tuesday due to mounting concerns that global supply is far outreaching demand,
while a stronger U.S. dollar also bruised the commodity.
PRECIOUS METAL WRAP: Gold futures extended
losses on Tuesday, slumping to more than two month lows as the broadly stronger
dollar dampened investor demand for the precious metal.
GLOBAL EVENTS TO WATCH: Non-Manufacturing
PMI(CNY), GDP q/q(AUD), HSBC Services PMI(CNY), RBA Gov Stevens Speaks(AUD),
Services PMI(GBP), BOC Rate Statement(CAD), Overnight Rate(CAD), Factory Orders
m/m(USD), Total Vehicle Sales(USD), Beige Book(USD).
COMMODITY MARKET STRATEGY 02 SEPTEMBER 2014
BASE METAL WRAP: Aluminium led most
industrial metals higher as worse-than-expected manufacturing data in China and
the euro area increased speculation of more economic stimulus. Copper fell in
London on signs that factory demand will slow in China, the world’s largest
consumer of the industrial metal.
ENERGY WRAP: West Texas Intermediate
crude fell amid speculation that weakening manufacturing from Germany to China
will cap demand for oil. Brent was steady in London.
PRECIOUS METAL WRAP: Gold extended a
declined from a one-week high, retreating for a third day, as investors weighed
the health of the global economy against tension between Ukraine and Russia.
GLOBAL EVENTS TO WATCH: Building Approvals
m/m(AUD), Cash Rate(AUD), RBA Rate Statement(AUD), Construction PMI(GBP), Final
Manufacturing PMI(USD), ISM Manufacturing PMI(USD), Construction Spending
m/m(USD), IBD/TIPP Economic Optimism(USD), ISM Manufacturing Prices(USD).
INDIAN BENCHMARK open higher levels with upside gains.
INDIAN BENCHMARK open higher levels with upside gains. Auto
stocks will be in focus on the back of robust August sales. Further,
metal and power stocks could extend gains after the Centre requested the
apex court not to cancel permits for 46 blocks.
FURTHER, Cipla
Ltd has launched an anti-asthma inhaler in Germany and Sweden that is a
generic version of GlaxoSmithKline Plc's Advair, a move that will
further dent sales of the British firm's top-selling product. Tata
Motors reported 17.59% decline in total sales at 40,883 units in
August, 2014 as against 49,611 units in the same month last year.
Trend in FII flows: The
FIIs were net buyers of Rs 192cr in the cash segment on Monday while
the DIIs were net sellers of Rs. 561cr, as per the provisional figures
released by the NSE.
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