LME Inventory Update

FXStreet (Mumbai) - The warehouse stocks data released daily by the London Metal Exchange (LME) showed a drop in the inventory levels of Lead, Aluminium, Nickel and Zinc. While copper stocks witnessed a built-up.

Copper stocks increased by 4000 tonnes. On the other hand, stock levels of lead declined 1075 tonnes. While, Aluminium stocks fell by 6250 tonnes. Also, stock levels of zinc and nickel witnessed a drawdown of 1200 and 1236 tonnes respectively.

Mar 16, 2015

Renewed slide in the price of crude oil impacting currency market - BTMU

Lee Hardman, Currency Analyst at Bank of Tokyo-Mitsubishi UFJ, comments that the resumption of the slide in oil prices have started to affect the commodity currencies such as CAD, NOK and RUB, with the recent IEA report supporting further weakness for currencies of oil exporters in Q2.

‘The strength of the exchange rate decline is larger than we had expected’ – ECB’s Visco

European Central Bank (ECB) Governing Council member and Bank of Italy Governor Ignazio Visco said over the weekend that the common euro zone currency had weakened faster than expected and there were risks the program could overshoot its goal, as well as cause an excessive rise in the prices of financial and real estate assets.