New 6-Year Low for Copper, FOMC Minutes Due This Evening
November 18, 2015 7:24 am
There was muted movement on Wall Street yesterday, with the tech heavy Nasdaq remained fairly flat, up only 0.03%, while the Dow Jones ended up 0.04% and the S&P finished 0.13% lower.
USD/YEN is currently around 123.308 and is down on the day approximately 0.11%. EUR/USD is up 0.21% on the day, trading in the region of 1.06662.
Overnight the Shanghai Composite felt the sting of falling copper prices, dropping by 1.01%. Meanwhile, the Hang Seng index lost 0.08% whilst the Nikkei gained 0.09%. Copper hit another six-year low yesterday, dropping below $4,600 per tonne, with Chinese demand continuing to slump.
Oil bounced slightly this morning after an unanticipated stockpile draw for last week. West Texas Intermediate crude is at $40.99 per barrel, up on the day 0.8%. Brent Crude is trading around $43.92 per barrel, also up by 0.8%.
Today at 14:30 UK time the US announces their Building permits and Housing starts and later in the afternoon at 16:30 their Crude Oil Inventories. Also, at 19:00 GMT tonight the FOMC meeting minutes will be released.
There was muted movement on Wall Street yesterday, with the tech heavy Nasdaq remained fairly flat, up only 0.03%, while the Dow Jones ended up 0.04% and the S&P finished 0.13% lower.
USD/YEN is currently around 123.308 and is down on the day approximately 0.11%. EUR/USD is up 0.21% on the day, trading in the region of 1.06662.
Overnight the Shanghai Composite felt the sting of falling copper prices, dropping by 1.01%. Meanwhile, the Hang Seng index lost 0.08% whilst the Nikkei gained 0.09%. Copper hit another six-year low yesterday, dropping below $4,600 per tonne, with Chinese demand continuing to slump.
Oil bounced slightly this morning after an unanticipated stockpile draw for last week. West Texas Intermediate crude is at $40.99 per barrel, up on the day 0.8%. Brent Crude is trading around $43.92 per barrel, also up by 0.8%.
Today at 14:30 UK time the US announces their Building permits and Housing starts and later in the afternoon at 16:30 their Crude Oil Inventories. Also, at 19:00 GMT tonight the FOMC meeting minutes will be released.
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