Free MCX Commodity Tips & News Updates 25 SEP 2015

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www.capitalstars.com CapitalStars Research 25/09/2015
DAILY MCX NEWSLETTER

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BULLION
BASE METAL Overnight, LME copper once
dipped to USD 5,013/mt but later rebounded
due to softer dollar, to close up USD 21/mt
at USD 5,080/mt. Safety-seeking sentiment is
boosted in market. Germans auto industry
is attacked and Caterpillar will lay off
workers. European and US stocks all dropped. US
durable goods orders are soft. US dollar index
fell initially but later rallied thanks to the
dovish tone of Yellens speech, weighing
down base metals. Investors will exit market
to seek safety ahead of holiday. LME
copper should move between USD
5,020- hours.
5,120/mt during Asian trading
Gold prices fell in Asia on Friday after Fed
Chair Janet Yellen said that an interest rate
hike this year is still very much on the cards.
Yellen said she anticipates that it will be
appropriate to raise short-term interest rates by
the end of the year. In prepared remarks for a
speech at the University of
Massachussetts-Amherst, Yellen emphasized that
most of her colleagues will likely support
raising the target range for the Federal
Funds Rate at some point this year. FOMC
only disclosed that 13 of 17 of its
members were in favor of raising rates
this year. Yellen had not personally associated
herself with a rate hike since July.
ENERGY
Oil markets remained subdued in early
trading in Asia on Friday after weak data
from Japan reinforced concerns over global
economic growth. Japan's core consumer prices
fell 0.1 percent in August from a year earlier,
government data showed on Friday, marking the
first year-on-year drop since April 2013. The
index includes oil products but excludes fresh
food prices. HSBC cautioned not to over-focus
on weak China data, arguing that fully
developed economies were also slowing. Yet
a global oversupply that analysts estimate at
2.5 million barrels per day remains largely in
place due to high production.
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