BASE METAL
WRAP:
Copper
futures rose for the second straight session on signs that demand will pick up
as economies gain in China, the world’s top consumer of industrial metals, and
the U.S. manufacturing output and factory data, the second-biggest.
ENERGY WRAP:
West
Texas Intermediate fell as a technical indicator shows last week’s increase to
the highest price in nine months was excessive. Brent in London dropped amid
speculation Iraqi forces will slow the advance of insurgents. U.S. crude
inventories probably shrank by 750,000 barrels in the week ended June 13.
PRECIOUS
METAL WRAP:
Gold
extended a decline from the highest level in three weeks before the U.S.
Federal Reserve begins a two-day policy meeting today and as investors assessed
the tension in Iraq and Ukraine. Silver for immediate delivery decreased 0.4
percent to $19.5828 an ounce. Silver is taking its cues from gold but also
being weighed down by the IMF downgrade of US growth and disappointing data
from China.
GLOBAL
EVENTS TO WATCH:
Monetary
Policy Meeting Minutes, CPI y/y, German ZEW Economic Sentiment, Building
Permits, Core CPI m/m, CPI m/m, Housing Starts.
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