BASE METAL WRAP: Nickel slumped the most
in 31 months as investors judged the metal’s rally this year as overdone. Inventories of refined metal tracked by the LME have risen
6.6 percent in 2014, belying concern that a ban on raw ore exports by Indonesia
would rapidly drain supplies.
ENERGY WRAP: West Texas
Intermediate slid from a three-week high after government data showed crude
inventories expanded as production increased to a 28-year peak in the U.S., the
world’s biggest oil consumer. Brent was steady in London.
PRECIOUS METAL WRAP: Gold traded near a
one-week high as investors weighed the conflict in Ukraine against the outlook
for the U.S. economy and further reductions in stimulus. Palladium dropped from
the highest level since August 2011.
GLOBAL EVENTS TO WATCH: Annual Budget
Release, BOJ Gov Kuroda Speaks, German Prelim GDP q/q, Manufacturing Sales m/m,
Core CPI m/m, Unemployment Claims, CPI m/m, Empire State Manufacturing Index,
Capacity Utilization Rate, TIC Long-Term Purchases, Industrial Production m/m,
Philly Fed Manufacturing Index, Mortgage Delinquencies, NAHB Housing Market
Index, Natural Gas Storage.
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