Analysis and Recommendations: Copper dipped 10 points to trade at 2.324 as the US dollar gained momentum weighing on metals. Palladium added $5.70 to
Copper dipped 10 points to trade at 2.324 as the US dollar gained momentum weighing on metals. Palladium added $5.70 to 574.30. Base metals closed lower in London Wednesday as risk-averse market participants sold down their positions, worried about the prospects for China despite Tuesday’s attempt by the country’s central bank to stimulate the economy of the world’s biggest buyer of metals.
Copper futures slid again in London on Friday after rising sharply in the previous session, as persistent worries about demand in China returned to weigh on investors.
The red metal started the session higher, supported by Chinese equities which stayed in positive territory. Analysts said the relief rally lost momentum as short-covering fizzled out and market attention drifted back to concerns around the underlying supply and demand picture.
“The recovery in commodity prices looks fragile with concerns over China’s growth still weighing on market activity,” said ANZ Research.
FxEmpire provides in-depth analysis for each currency and commodity we review. Fundamental analysis is provided in three components. We provide a detailed monthly analysis and forecast at the beginning of each month. Then we provide more recent analysis and information in our weekly reports.
Today’s economic releases:
Cur. |
Event |
Actual |
Forecast |
Previous |
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JPY |
Household Spending (YoY) (Jul) |
-0.2% |
1.3% |
-2.0% |
|
||
JPY |
Household Spending (MoM) (Jul) |
0.6% |
2.2% |
-3.0% |
|
||
JPY |
Jobs/applications ratio (Jul) |
1.21 |
1.19 |
1.19 |
|
||
JPY |
National Core CPI (YoY) (Jul) |
0.0% |
-0.2% |
0.1% |
|
||
JPY |
Tokyo Core CPI (YoY) (Aug) |
-0.1% |
-0.2% |
-0.1% |
|
||
JPY |
Retail Sales (YoY) (Jul) |
1.6% |
1.1% |
0.9% |
|
||
CHF |
GDP (YoY) (Q2) |
1.2% |
0.9% |
1.2% |
|||
CHF |
GDP (QoQ) (Q2) |
0.2% |
-0.1% |
-0.2% |
|
||
EUR |
Spanish CPI (YoY) (Aug) |
-0.4% |
-0.1% |
0.1% |
|
||
EUR |
Spanish HICP (YoY) (Aug) |
-0.5% |
-0.2% |
0.0% |
|
||
GBP |
Business Investment (QoQ) (Q2) |
2.9% |
1.7% |
2.0% |
|
||
GBP |
GDP (YoY) (Q2) |
2.6% |
2.6% |
2.6% |
|
||
GBP |
GDP (QoQ) (Q2) |
0.7% |
0.7% |
0.7% |
|
||
EUR |
German CPI (MoM) (Aug) |
0.0% |
-0.1% |
0.2% |
|
||
USD |
Core PCE Price Index (YoY) (Jul) |
1.2% |
1.3% |
1.3% |
|
||
USD |
Core PCE Price Index (MoM) (Jul) |
0.1% |
0.1% |
0.1% |
|
||
USD |
Goods Trade Balance (Jul) |
-59.12B |
|
-62.26B |
|
||
USD |
Personal Spending (MoM) (Jul) |
0.3% |
0.4% |
0.3% |
|||
CAD |
RMPI (MoM) (Jul) |
-5.9% |
-4.0% |
0.2% |
Upcoming Economic Events that you should be monitoring:
Monday, August 31, 2015
Cur. |
Event |
Actual |
Forecast |
Previous |
|
||
|
United Kingdom – Summer Bank Holiday |
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NZD |
Building Consents (MoM) (Jul) |
|
|
-4.1% |
|
||
JPY |
Industrial Production (MoM) (Jul) |
|
|
1.1% |
|
||
AUD |
HIA New Home Sales (MoM) (Jul) |
|
|
|
|
||
AUD |
Company Gross Operating Profits |
|
|
0.2% |
|
||
AUD |
Private Sector Credit (MoM) (Jul) |
|
|
0.4% |
|
||
CHF |
KOF Leading Indicators (Aug) |
|
|
99.8 |
|
||
EUR |
CPI (YoY) (Aug) |
|
0.2% |
0.2% |
|
||
CAD |
Current Account (Q2) |
|
|
-17.5B |
|
||
USD |
Chicago PMI (Aug) |
|
54.5 |
54.7 |
Government Bond Auctions
Date Time Country
Aug 28 11:10 Italy Auctions BTPs/CCTeus
Sep 01 11:15 Austria Holds RAGB bond sale
Sep 01 00:00 UK Announces details of 3.5% 2045 Gilt
Sep 02 11:03 Sweden Holds bond auction
Sep 02 11:30 Germany Eur 4bn 0.25% Oct 2020 Bobl
Sep 02 11:30 UK Auctions new Jan 2021 Gilt
Sep 03 10:30 Spain Auctions Bonos/Obligaciones
Sep 03 11:10 France Auctions OATs
Sep 03 00:00 US Announces details of 3yr note on 08 Sep, 10yr note on 09 Sep
Sep 03 00:00 US Announces details of 10-year note on 09 Sep