Wednesday 2 July 2014

COMMODITY MARKET STRATEGY 03 July 2014

BASE METAL WRAP: Nickel advanced to the highest level in more than a month after an increase in U.S. employment fueled optimism that an economic recovery will boost demand.
ENERGY WRAP: West Texas Intermediate fell for a sixth day, the longest losing streak since May 2012, while Brent slid amid speculation that crude supplies will increase after Libyan rebels agreed to hand over two export terminals.
PRECIOUS METAL WRAP: Gold declined from a three-month high before employment data that may show the U.S. economy is gaining momentum. Platinum fell from the highest in 10 months, while palladium halted an eight-day advance.
GLOBAL EVENTS TO WATCH: Non-Manufacturing PMI, RBA Gov Stevens Speaks, Building Approvals m/m, Building Approvals m/m, Services PMI, Challenger Job Cuts y/y, Minimum Bid Rate, Trade Balance, ECB Press Conference, Non-Farm Employment Change, Trade Balance, Unemployment Claims, Unemployment Rate, Average Hourly Earnings m/m, Final Services PMI, ISM Non-Manufacturing PMI, Natural Gas Storage.
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