Today Commodity Market Trend
BASE METAL WRAP: Aluminum entered a bull market in London and traded near the highest in 16 months on speculation demand will exceed supply for the metal used in everything from cars to packaging.
ENERGY WRAP: West Texas Intermediate rose for a second day before stockpile data that may signal the strength of fuel demand in the U.S., the world’s biggest oil consumer. Brent also increased in London. Natural gas futures slipped in New York to the lowest price in more than seven months as meteorologists predicted mild weather, which would curtail demand from power plants and help narrow a stockpile deficit.
PRECIOUS METAL WRAP: Gold traded below the highest level in more than three months as the dollar strengthened amid the outlook for higher U.S. borrowing costs, countering haven demand fueled by tension in Ukraine and Gaza.
GLOBAL EVENTS TO WATCH: Core CPI m/m, CPI m/m, HPI m/m, Existing Home Sales, Richmond Manufacturing Index, CPI q/q, Trimmed Mean CPI q/q.