Industrial and Base Metals Fundamental Analysis – August 5, 2015 – Forecast – Copper, Palladium & More

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Published: Aug 4, 2015, 10:01 UTC

Analysis and Recommendations: Copper fell 30 more points looking to touch a 6 year low at 2.334 after lackluster Chinese data sent the commodities markets

Industrial and Base Metals Fundamental Analysis – August 5, 2015 – Forecast – Copper, Palladium & More

Analysis and Recommendations:

Copper fell 30 more points looking to touch a 6 year low at 2.334 after lackluster Chinese data sent the commodities markets tumbling on Monday. Palladium surprised and gained $1.35 to 612.20 as auto sales posted better sales figures than expected. As copper and aluminum prices sank to six-year lows on the London Metal Exchange, some investors said industrial metals were just starting to catch up with the selloff that has sent other commodities prices sharply lower.

Crude oil prices have fallen by more than half over the last 12 months. Copper is down 27% and aluminum is down 19%. That leaves plenty of room for more falls.

Consumption of industrial metals by the Asian giant fueled a more than decade long rally in prices after the turn of the century. But concern over the nation’s slowing economic growth has caused prices in London, the world’s center for trading in industrial metals, to slide over the past 12 months.

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
AUD	Retail Sales (MoM) (Jun)	0.7%	0.5%	0.4%
AUD	Trade Balance (Jun)	-2.933B	-3.100B	-2.677B
AUD	Interest Rate Decision (Aug)	2.00%	2.00%	2.00%
AUD	RBA Rate Statement
GBP	Nationwide HPI (YoY) (Jul)	3.5%	3.5%	3.3%
GBP	Nationwide HPI (MoM) (Jul)	0.4%	0.4%	-0.2%
EUR	Spanish Unemployment Change	-74.0K	-45.6K	-94.7K
GBP	Construction PMI (Jul)	57.1	58.4	58.1

Upcoming Economic Events that you should be monitoring:

Wednesday, August 5, 2015

Cur.	Event	Actual	Forecast	Previous
GBP	Services PMI (Jul)		58.0	58.5
USD	ADP Nonfarm Employment Change		215K	237K
USD	ISM Non-Manufacturing PMI (Jul)		56.2	56.0