Tuesday 22 April 2014

COMMODITY MARKET TRENDS 23 April 2014

BASE METAL WRAP: 
Nickel climbed to a 14-month high on concern the collapse of an accord to ease tension between Ukraine and Russia may lead to disruptions in global supply that was already curbed by an Indonesia export ban.

ENERGY WRAP: 
West Texas Intermediate traded near a two-week low as a manufacturing gauge signaled a fourth month of contraction in China, the world’s second-biggest oil user. Brent was steady in London.

PRECIOUS METAL WRAP: 
Gold traded above a 10-week low as improvements in the U.S. economy were weighed against tension in Ukraine and signs of higher demand in China. Assets in the largest exchange-traded product held at the lowest in 12 weeks.

GLOBAL EVENTS TO WATCH: 
CPI q/q, HSBC Flash Manufacturing PMI, French Flash Manufacturing PMI, German Flash Manufacturing PMI, MPC Asset Purchase Facility Votes, MPC Official Bank Rate Votes, Core Retail Sales m/m, Flash Manufacturing PMI, New Home Sales, Crude Oil Inventories.


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