MTECHTIPS

MTECHTIPS COMMODITY MARKET NEWS 1

MTECHTIPS:-GLOBAL HAPPENINGS

ECB seen desisting from further rate cuts until 2015. This based on the assumption of analysts that inflation will move up to 2 percent by the end of t his year and modest economic growth will be witnessed by in the second half of this year. This rate is the comfort level for the Central Bank.The Bank of England left its stimulus program unchanged as officials assess recent signs of strength in the economy after it returned to growth in the first quarter. Also the UK Industrial Output rose more than the forecast by economists in March to 0.7 percent.

MTECHTIPS:-GOLD

Gold capped the biggest drop in more than three weeks in international market as a stronger dollar curbed demand for the metal as an alternative investment. The dollar reached a five-week high versus six major currencies after data showed claims for U.S. jobless benefits unexpectedly dropped to the lowest in more than five years. However rising physical demand of gold in Asia expected to be act as a support for the gold. Dollar index movement will be watched 

MTECHTIPS:-SILVER

Silver also dropped in the international market as a stronger dollar curbed demand for the metal as an alternative investment. The dollar reached a five-week high versus six major currencies after data showed claims for U.S. jobless benefits unexpectedly dropped to the lowest in more than five years. Silver futures for July delivery fell 1.1 percent to $23.658 an ounce on the Comex, capping a weekly decline of 1.5 percent. Dollar index movement will be eyed.

MTECHTIPS:-CRUDEOIL

Both West Texas Intermediate crude and Brent has fell as the dollar climbed, reducing the appeal of raw materials priced in the U.S. currency. On the other hand U.S. oil exports are poised to reach the highest level in 28 years as deliveries to Canada more than triple, helping bring down the price of the global benchmark Brent crude relative to U.S. grades. Dollar index movement will be eyed.

MTECHTIPS:-COPPER

Copper prices in international markets were up on improving US jobs data and indications of recovery in Chinese demand. three-month copper in LME stood at $7,375 per metric tonne, The latest US jobless data was at its lowest in years, helping copper prices. Chinese industrial production data will be eyed.

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