31 Jul 2013
Commodities for Delivery: Metals up ahead of FOMC
FXstreet.com (Barcelona) - With equities and index futures opening lower in Europe following an Asian pull back, and the FX board mainly mixed and devoid any significant moves, commodities look broadly positive this morning ahead of US GDP and the FOMC.
Despite stocks opening lower, they look to have nudged into positive territory following better than expected German Employment data this morning. Presently, EU CPI has registered in line with expectations at 1.6%, while EU Unemployment declined to 12.1% against expectations of 12.2%. Nevertheless, all eyes will remain firmly placed on this afternoon and evenings US Q2 GDP and FOMC.
Metals have led the way this morning, with Gold up 0.51% at 1333.15, Silver up 1.14% at 19.91, Copper up 1.25% at 308 and Platinum 0.40% at 1442.04. In Energies, Crude WTI is up 0.54% at 103.64 and Brent down -0.13% at 106.77. NYMEX Natural Gas is up 0.35% at 3.44. Looking to agriculture, Cotton is down -0.11% at 85.05 while Cocoa is mildly lower -0.09% at 2285.
Despite stocks opening lower, they look to have nudged into positive territory following better than expected German Employment data this morning. Presently, EU CPI has registered in line with expectations at 1.6%, while EU Unemployment declined to 12.1% against expectations of 12.2%. Nevertheless, all eyes will remain firmly placed on this afternoon and evenings US Q2 GDP and FOMC.
Metals have led the way this morning, with Gold up 0.51% at 1333.15, Silver up 1.14% at 19.91, Copper up 1.25% at 308 and Platinum 0.40% at 1442.04. In Energies, Crude WTI is up 0.54% at 103.64 and Brent down -0.13% at 106.77. NYMEX Natural Gas is up 0.35% at 3.44. Looking to agriculture, Cotton is down -0.11% at 85.05 while Cocoa is mildly lower -0.09% at 2285.