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Research Report

Commodity Research Report: Weekly Report :Metals & Energy

Metals and Energy Weekly Report (January 19- 23, 2015)
19 Jan 2015 | 05:41 PM

  • The Swiss National Bank unexpectedly abolished the three-year-old 1.20 ceiling on the franc against the euro, fuelling at one point a rally of up 40 percent in the Swiss currency that sent some currency trading platforms bust.
  • The move, made only days after the Swiss central bank had reiterated its commitment to the peg, was ahead of a key ECB meeting on Thursday that could see it approve a bond-buying scheme to fight deflation and revive growth in the euro zone.
  • The China Securities Regulatory Commission said that it was imposing the curbs on margin financing, or borrowing to purchase stocks, following an investigation of the industry. This sent Chinese equities tumbling by more than 7 percent.
  • In a report, the U.S. Department of Labor said the number of individuals filing for initial jobless benefits in the week ending January 9 increased by 19,000 to a seasonally adjusted 316,000 from the previous week's total of 297,000.
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