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10 Dec 2016 | 5:05 PM
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Commodity Research Report: Metals and Energy Weekly Report

U.S. Federal Reserve Chairman Ben Bernanke affirmed the central bank would start later this year to clip its $85-billion-a-month bond-buying programme, which has been supporting financial markets.
22 Jul 2013 | 05:00 PM

Untitled Document

Highlights:

  • U.S. Federal Reserve Chairman Ben Bernanke affirmed the central bank would start later this year to clip its $85-billion-a-month bond-buying programme, which has been supporting financial markets.
  • He also sounded a dovish tone, leaving open the option of changing that plan if the economic outlook shifted.
  • US retail sales grew in June, but at a slower rate than was expected by many analysts. Sales were up by a seasonally-adjusted 0.4%, half the 0.8% rate expected by the markets.
  • The consumer-price index in the U.S increased 0.5 percent after a 0.1 percent gain the prior month, Labor Department figures showed.
  • US industrial production picked up in June after flat-lining in May, helped by improved manufacturing output and a jump in mining, the Federal Reserve reported. The production of the nation's manufacturers, mines and utilities rose 0.3 per cent in June, in line with analyst expectations.
  • The U.S. Energy Information Administration said in its weekly report that natural gas storage in the U.S. in the week ended July 12 rose by 58 billion cubic feet, way below market expectations.
  • Initial jobless claims in the U.S dropped by 24,000 to 334,000 in the week ended July 13, the fewest since early May, from a revised 358,000 the prior period, Labor Department figures showed.
 
Week ahead: Nickel (Buy)

  • U.S initial jobless claims plunged 24000 to reach 334000 in the last week. This may underpin nickel prices in short term.
  • Inflation in the U.S surged last week. US' CPI rose to 1.8% y/y in June from 1.4% a month ago. This is expected to support metals’ prices in the coming week.
  • Moody’s raised the outlook of US’ triple A credit rating to stable from negative, citing the country’s healthier recovery.
  • Industrial production gained 0.3% m/m in June, following a flat reading a month ago. Positive industrial production figures may support metals’ prices.
 
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