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Commodity Market News :COPPER & CRUDE OIL

Discussion in 'Stock Market News & Analysis' started by Capitalstars King, Oct 14, 2015.

  1. Capitalstars King

    Capitalstars King New Member

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    Commodity Market News

    COPPER:
    Chinese Inflation Data Weakens Sparking Stimulus Hopes

    Consumer inflation dipped lower than forecast while PPI came in at forecast which was in the negative. PPI was forecast at -5.9%. The low inflation rate has sparked hopes of additional stimulus from the PBOC giving Asian currencies a bump as well as metals.

    CRUDE OIL:

    Crude Oil Traders Shrug Off Bearish IEA Outlook

    Tuesday is shaping up to be a reversal day with several commodity and Forex pairs reversing direction. The moves could represent a clash between oversold technical indicators and ambiguous fundamentals. Or it could be simply trader indecision because of the lack of clarity from the Fed.

    Prices broke after the release of a bearish report from the International Energy Agency (IEA). The IEA said the world oil market would remain oversupplied for at least another year despite falls in output from non-OPEC producers.
     
    #1 Capitalstars King, Oct 14, 2015
    Last edited by a moderator: Oct 15, 2015
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