Wednesday 13 November 2013

COMMODITY MARKET TREND - 14 NOVEMBER 2013

BASE METAL WRAP: Copper futures tumbled the most in 15 weeks amid speculation that the Federal Reserve will scale back U.S. monetary stimulus this year, while output of the metal rose to a monthly record in China.

ENERGY WRAP: West Texas Intermediate was little changed after the biggest increase in a week before a report forecast to show crude stockpiles rose to the highest level since June in the U.S., the world’s biggest oil consumer.

PRECIOUS METAL WRAP: Gold climbed for a second day after Federal Reserve Chairman nominee Janet Yellen backed stimulus until the economy and labor market improves, reducing concern the central bank’s bond-buying program will soon be scaled back. Silver rebounded from the lowest level since August.
GLOBAL EVENTS TO WATCH: Federal Budget Balance, Fed Chairman Bernanke Speaks, Retail Sales m/m, Trade Balance, Trade Balance, Unemployment Claims, Prelim Nonfarm Productivity q/q, Prelim Unit Labor Costs q/q, Fed Chairperson-Designate Yellen Testifies, BOC Review, Natural Gas Storage, Crude Oil Inventories, 30-y Bond Auction.



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