Friday 25 July 2014
BASE METAL WRAP: Copper futures rallied to a more than one-week high on Thursday, as investors cheered better than expected manufacturing data out of China, the world’s largest consumer of the red metal.
ENERGY WRAP: West Texas Intermediate headed for the third weekly decline this month amid speculation that rising U.S. gasoline stockpiles signal reduced demand in the world’s biggest oil consumer. Brent was steady in London.
PRECIOUS METAL WRAP: Gold headed for its second straight weekly decline as the outlook for improving economic growth curbed demand for the precious metal as a haven.
GLOBAL EVENTS TO WATCH: ANZ Business Confidence, German Ifo Business Climate, Prelim GDP q/q, Core Durable Goods Orders m/m, Durable Goods Orders m/m.
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