Wednesday, January 1, 2014

DAILY COMMODITY MARKET STRATEGY





BASE METAL WRAP: Copper was little changed on Monday, trading around its highest since mid-August as signs of global economic recovery and hopes of improving Chinese demand supported prices.
 
ENERGY WRAP: West Texas Intermediate rose for the first time in three days after an industry report showed crude inventories fell in the U.S, the world’s largest oil consumer.
 
PRECIOUS METAL WRAP: Gold rallied from its worst year in more than three decades as a decline to a six-month low was seen spurring physical purchases, potentially prompting some investors to reverse bets on lower prices. Silver jumped.

GLOBAL EVENTS TO WATCH: Manufacturing PMI, Unemployment Claims, Final Manufacturing PMI, ISM Manufacturing PMI, Construction Spending m/m, ISM Manufacturing Prices.

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