Wednesday 6 August 2014

COMMODITY MARKET STRATEGY 07 AUGUST 2014


BASE METAL WRAP:  
Copper prices fell to their lowest level in more than five weeks Wednesday, pressured by a stronger dollar and concerns about growth in China, the world's largest consumer of the metal.

ENERGY WRAP
West Texas Intermediate crude swung between gains and losses near a six-month low before trade data that will signal the strength of the economy in China, the world’s second-biggest oil consumer. Brent was steady.

PRECIOUS METAL WRAP: 
Gold held gains after the biggest advance in three weeks as tensions flared over Ukraine, increasing demand for a haven. Palladium climbed.

GLOBAL EVENTS TO WATCH
Employment Change q/q, Unemployment Rate, Asset Purchase Facility, Official Bank Rate, MPC Rate Statement, Minimum Bid Rate, Building Permits m/m, ECB Press Conference, Unemployment Claims, Ivey PMI, Natural Gas Storage.


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