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Tuesday 17 September 2013

TODAY COMMODITY MARKET STRATEGY

Dear All,

BASE METAL WRAP: 


Copper swung between gains and losses before the Federal Reserve concludes a two-day meeting today when policy makers will decide whether to slow its monthly bond-buying program.

ENERGY WRAP: 


West Texas Intermediate swung between gains and losses as Libya moved to restore its oil production and before U.S. government data that may show crude inventories shrank to the lowest level in more than a year.

PRECIOUS METAL WRAP:
Gold dropped below $1,300 an ounce to the lowest level in almost six weeks on speculation the U.S. Federal Reserve will cut its monthly asset purchases at the end of a two-day meeting today. Silver fell for a third day as platinum sank to an almost eight-week low.


GLOBAL EVENTS TO WATCH: 


MPC Asset Purchase Facility Votes, MPC Official Bank Rate Votes, Building Permits,Housing Starts,Crude Oil Inventories, FOMC Economic Projections, FOMC Statement, Federal Funds Rate.


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