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BASE METAL WRAP: Copper fell to the lowest level in almost a week as investors awaited the outcome of the U.S. Federal Reserve’s meeting next week. Nickel also dropped.
ENERGY WRAP: West Texas Intermediate crude traded little changed after rising for the first time in three days yesterday as stockpiles at the largest U.S. oil hub shrank. Saudi Arabia’s petroleum minister said the global market is well-supplied.
PRECIOUS METAL WRAP: Gold retreated to near a three-week low, heading for a third weekly decline, on speculation that the U.S. Federal Reserve will commit to reducing stimulus within days. Silver fell.
GLOBAL EVENTS TO WATCH: Official Cash Rate, RBNZ Press Conference, RBNZ Rate Statement, RBNZ Gov Wheeler Speaks, Employment Change, Unemployment Rate, Inflation Report Hearings, ECB President Draghi Speaks, Unemployment Claims, Import Prices m/m, FOMC Member Dudley Speaks, Natural Gas Storage, 30-y Bond Auction, Federal Budget Balance.
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