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Commodity Research Report: Weekly Report :Metals & Energy

Metals and Energy Weekly Report (November 03-07, 2014)
03 Nov 2014 | 06:05 PM

  • The Federal Reserve announced the end of its bond purchases program as the central bank mainly hinted in its previous meetings. The Fed also maintained its interest rate unchanged at 0.25%.
  • The statement showed no changes in inflation assessment while the Fed repeated rates to stay lows for 'considerable time'.
  • Bank of Japan surprised market with a stimulus package worth $726 billion. The yen plunged to a six-year low while shares in Tokyo jumped the most in a year after the central bank unexpectedly increased its target for monetary stimulus. The central bank said it will expand annual bond purchases to 80 trillion yen ($726 billion) per year. Previously, the BOJ targeted an annual increase of 60-70 trillion yen.
  • Growth in China's manufacturing sector slowed in October, an official survey suggested, reinforcing concerns about a slowdown in the wider economy. The country's Purchasing Managers Index (PMI) fell to a lower-than-expected 50.8, from 51.1 in the previous month.
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