Monday 14 July 2014

COMMODITY MARKET STRATEGY 15 JULY 2014

BASE METAL WRAP:  
Copper futures ended lower on Monday as steep losses in gold and coming Chinese economic data unnerved some traders. Rising stocks deter investors from betting copper higher.

ENERGY WRAP
West Texas Intermediate crude traded near the lowest price in two months 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. Twelve weeks of above-average gains in U.S. natural gas supply are easing concern over winter fuel shortages and spurring speculators to cut their bets on rising prices.

PRECIOUS METAL WRAP: 
Gold held above a one-month low on speculation the biggest decline this year may spur demand as holdings in the largest exchange-traded product backed by the metal expanded to the highest level since April.

GLOBAL EVENTS TO WATCH
Monetary Policy Meeting Minutes, Foreign Direct Investment ytd/y, New Loans, M2 Money Supply y/y, Monetary Policy Statement, BOJ Press Conference, CPI y/y, German ZEW Economic Sentiment, BOE Gov Carney Speaks, Core Retail Sales m/m, Retail Sales m/m, Empire State Manufacturing Index, Import Prices m/m, Fed Chair Yellen Testifies, Business Inventories m/m.

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