BASE METAL WRAP: Copper fell for the first time in four days before U.S. data forecast to show consumer confidence fell to a five-month low and retail sales stalled as the Federal Reserve starts a two-day meeting today.
ENERGY WRAP: West Texas Intermediate fell from the highest level in a week before U.S. government data forecast to show crude inventories rose to the most in four months in the country, the world’s biggest oil consumer.
PRECIOUS METAL WRAP: Gold reached fresh five-week highs on Monday on growing confidence the U.S. Federal Reserve would stick with its bullion-friendly stimulus at a policy meeting later this week. The Federal Reserve starts its two-day meeting on Tuesday and is widely expected to keep its bond-buying stimulus unchanged at $85 billion per month. Most expect the central bank to delay withdrawing stimulus until March 2014.
GLOBAL EVENTS TO WATCH: RBA Gov Stevens Speaks, Core Retail Sales m/m, PPI m/m, Retail Sales m/m, Core PPI m/m, S&P/CS Composite-20 HPI y/y, CB Consumer Confidence, Business Inventories m/m, BOC Gov Poloz Speaks.
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