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08 Dec 2016 | 7:04 PM
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Weekly

Commodity Research Report: Metals and Energy Weekly Report

The Fed voted against "tapering" of its quantitative easing program, defying the expectations it had built since April....
23 Sep 2013 | 05:00 PM

Highlights:

  • The Fed voted against "tapering" of its quantitative easing program, defying the expectations it had built since April.
  • China’s flash HSBC Purchasing Managers' Index (PMI) climbed to 51.2 this month from August's 50.1, hitting a high not seen since March. A breakdown of the data showed ten of 11 sub-indices rose in September.
  • U.S Industrial production advanced 0.4 percent in August after having been unchanged in July.
  • The consumer-price index, which measures how much Americans pay for everything from food to medical care, rose 0.1% from the previous month, the Labor Department said.
  • The Commerce Department said single-family starts surged 7.0 percent to an annual rate of 628,000 units last month, the highest level in six months.
  • Groundbreaking for the volatile apartments and condominiums segment, however, tumbled 11.1 percent. That curbed the rise in overall housing starts to an 891,000-unit pace, far less than the 917,000-unit rate economists had expected.
  • Oil stockpiles fell by 4.4 million barrels to 355.6 million barrels for the week ending Sept. 13, according to data from the Energy Information Administration. With the decline, crude stocks fell to their lowest level since March 2012.
  • Initial claims for state unemployment benefits increased 15,000 to a seasonally adjusted 309,000, U.S Labor Department said.

Week ahead: Zinc (Buy)

  • Delay in tapering process by the U.S Fed is expected to support metals at lower levels.
  • China’s flash HSBC Purchasing Managers' Index (PMI) climbed to 51.2 this month from August's 50.1, hitting a high not seen since March.
  • U.S. home resale surged in August to a 6-1/2-year high and factories grew busier in the Mid-Atlantic region.

Weakness in dollar against a basket of currencies may further underpin zinc prices in short term

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