An improvement in US and European manufacturing activity as well as news that the “official” Chinese PMI number climbed back into expansion territory for the first time in 8 months bodes well for a more sustainable global recovery effort.
The Chinese economy continues to be a weight around the neck of many commodities, but another weight, in the form of the US Fed, comes into focus for the coming week.
The Indonesian rupiah edged down on Wednesday after an official with the central bank said intervention with the currency will help exports, according to Bloomberg.
Confidence about economy-spurring measures in the world’s largest consumer prompted copper futures to increase in value on Tuesday as the reddish metal touched its top value since the middle of March, according to Bloomberg.
Confidence about increased purchases prompted copper futures to achieve gains on Thursday, according to Bloomberg.
Imports of sugar are forecast to climb as high as 16 percent this year in the globe’s top buyer of the soft commodity, according to Bloomberg.
Coffee futures on Thursday marked a fifth consecutive trading session of losses, tugged down by dryer weather helping to fortify the harvest of the soft commodity in Indonesia while rain strengthens the development of crops, according to Bloomberg.
Coffee futures on Wednesday were slipping as one of the soft commodity’s main growing region is set to see rain slow down, according to Bloomberg.
The prospect of smaller supplies pushed copper futures to their sharpest increase in more than one week on Tuesday, according to Bloomberg.
Strong economic data released by the globe’s largest user prompted copper futures to demonstrate their biggest gains in nearly 14 days on the first trading session of the final month of the second quarter of 2013, according to Bloomberg.