BASE METAL WRAP: Copper prices edged lower on Wednesday, amid ongoing concerns over the health of China’s economy. Data released earlier showed that China’s HSBC Services Purchasing Managers Index ticked down to 51.4 in April from 51.9 in March, underlining concerns that an economic slowdown in the world’s second-largest economy is deepening.
ENERGY WRAP: West Texas Intermediate traded near the highest price in a week after crude inventories shrank for the first time since March in the U.S., the world’s biggest oil consumer. Brent was steady in London.
PRECIOUS METAL WRAP: Gold held below $1,300 an ounce after the biggest one-day drop in three weeks on speculation that the U.S. Federal Reserve will further reduce monetary stimulus as the economy recovers.
GLOBAL EVENTS TO WATCH: Employment Change, Unemployment Rate, Asset Purchase Facility, Official Bank Rate, MPC Rate Statement, Minimum Bid Rate, ECB Press Conference, Unemployment Claims, Fed Chair Yellen Testifies, FOMC Member Tarullo Speaks, Natural Gas Storage, 30-y Bond Auction.
ENERGY WRAP: West Texas Intermediate traded near the highest price in a week after crude inventories shrank for the first time since March in the U.S., the world’s biggest oil consumer. Brent was steady in London.
PRECIOUS METAL WRAP: Gold held below $1,300 an ounce after the biggest one-day drop in three weeks on speculation that the U.S. Federal Reserve will further reduce monetary stimulus as the economy recovers.
GLOBAL EVENTS TO WATCH: Employment Change, Unemployment Rate, Asset Purchase Facility, Official Bank Rate, MPC Rate Statement, Minimum Bid Rate, ECB Press Conference, Unemployment Claims, Fed Chair Yellen Testifies, FOMC Member Tarullo Speaks, Natural Gas Storage, 30-y Bond Auction.
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