Tuesday 8 July 2014

COMMODITY MARKET STRATEGY 09 July 2014

BASE METAL WRAP:

Zinc prices rose to a 35-month high as inventories dwindled amid speculation that increasing auto sales in China and the U.S. will boost metal use.

ENERGY WRAP:

West Texas Intermediate crude traded near the lowest price in more than a month before inventory data that may signal the strength of fuel demand in the U.S., the world’s biggest oil consumer. Brent was steady in London.

PRECIOUS METAL WRAP:

Gold rose as a decline in equities and the dollar spurred demand for an alternative investment amid increased holdings in the largest exchange-traded fund. Palladium headed for the longest rally in 14 years.

GLOBAL EVENTS TO WATCH:

CPI y/y, PPI y/y, Crude Oil Inventories, 10-y Bond Auction, FOMC Meeting Minutes.
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