Capital procure

Crudeoil trading range for the day is 1979-2275.Crude oil prices rallied as the dollar weakened and traders ignored record US crude oil stockpiles.Energy Information Administration reported on Wednesday that crude inventories rose by 7.8 million barrels for the week ended Jan. 29.Crude seen support on speculation that an emergency OPEC meeting could be held addressing longstanding concerns related to excessive supply.Morgan Stanley also said that an emerging willingness of producers to forward hedge at prices not much above $40 per barrel was also capping prices.
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Capital Procure

EUR ZONE :Spanish Flash CPI yy-0.3% VS 0.0%Spanish Flash CPI yy0.8% VS 0.8% ===> DATA IS MIXED FOR METALS

EUR ZONE :M3 Money Supply yy4.7% VS 5.1%Private Loans yy1.4% VS 1.4%DATA IS WEAK FOR METALS

Gold trading range for the day is 26310-27028.Gold steadied as investors remained cautious ahead of the Federal Reserves first policy statement of the year, which is expected to give clues on interest rates.Fed policymakers said the economy was still on track for moderate growth and a stronger labour market even with gradual rate increases.New U.S. single-family home sales surged in December to their highest in 10 months, the latest indication that the housing sector remains on a firmer footing.Germanys Bundesbank took more than 200 tonnes of its gold back to Frankfurt from overseas last year, the central bank said.
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