Share

Industrial and Base Metals Weekly Analysis Forecast – June 15-19, 2015 – Forecast – Copper, Palladium & More

Metals Weekly bnsWeekly Analysis and Recommendations (Industrial Forecast):

Copper regained some momentum on Friday recovering 11 points as trades bought up the cheap commodity after it tumbled to a 7 week low on lackluster Chinese data. The price had held out on hopes of stimulus from China which did not materialize last week. Copper ended at 2.6811 not far off its lows. Palladium closed at 736.60 down 1.91% for the week as demand for metals eased.

The price of copper dropped again on Friday despite no major changes to the red metal’s fundamentals.

Goldman Sachs has even gone so far as to call copper one of the most challenged raw materials because of the prospect of a rising US dollar (which will negatively impact on the price) and waning Chinese construction activity.

A 90% rise in the stockpiles of the red metal over the past year at warehouses monitored by the London Metal Exchange triggered the sell-off, which saw copper tumble 2.8% to S2.67 a pound.

Some experts are warning of more pain ahead as supplies are rising at a time when China, the world’s biggest consumer of the metal, is slowing. The Chinese government is already taking steps to stimulate its sagging economy and infrastructure construction is one of the areas that is likely to benefit from the fiscal stimulus.

ForexTraq 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 and we provide daily updates and outlooks.

copper fri

Major Economic Events for the week that you should be monitoring

 

Cur.

 

Event

Actual

Forecast

Previous

 

Monday, June 15, 2015

 

  RUB

 

Interest Rate Decision (Jun)

 

11.50%

12.50%

 

 

Tuesday, June 16, 2015

 

  GBP

 

CPI (YoY) (May)

 

0.1%

-0.1%

 

 

 

  EUR

 

German ZEW Economic

 

37.1

41.9

 

 

 

  USD

 

Building Permits (May)

 

1.100M

1.140M

 

 

Wednesday, June 17, 2015

 

  GBP

 

Claimant Count Change (May)

 

-12.5K

-12.6K

 

 

 

  EUR

 

CPI (YoY) (May)

 

0.3%

0.3%

 

 

 

  USD

 

FOMC Statement  

 

 

 

 

 

 

  USD

 

Fed Interest Rate Decision

 

0.25%

0.25%

 

 

 

  USD

 

Fed Chair Yellen Speaks  

 

 

 

 

 

Thursday, June 18, 2015

 

  NZD

 

GDP (QoQ) (Q1)

 

 

0.8%

 

 

 

  GBP

 

Retail Sales (MoM) (May)

 

0.2%

1.2%

 

 

 

  USD

 

Core CPI (MoM) (May)

 

0.2%

0.3%

 

 

 

  USD

 

Philadelphia Fed

 

8.0

6.7

 

 

Friday, June 19, 2015

 

  CAD

 

Core CPI (MoM) (May)

 

0.3%

0.1%

 

 

 

  CAD

 

Core Retail Sales (MoM) (Apr)

 

0.3%

0.5%

   

Upcoming Government Bond Auctions

Date Time Country 

Jun 15 00:00 UK New 30 year I/L syndicated Gilt auction

Jun 17 11:03 Sweden Holds bond auction

Jun 17 11:30 Germany Eur 3bn Feb 2025 Bund

Jun 18 10:30 Spain Auctions Bonos/Obligations

Jun 18 11:10 France Auctions BTANs

Jun 18 12:10 France Auctions OATi

Jun 18 17:00 US Details 2-year FRNs

Jun 18 17:00 US Announces details of 2/5/7 year notes

Jun 18 18:00 US Auctions 30-year TIPs sale on 24 Jun

 

 

Industrial analysis forecast

Leave a Comment