Natural Gas Currently Trades 1.36% Higher
Equities in the Asia Pac region have started mixed this week, the Nikkei is the outperformer up half a percent and this is despite a frosty G7 meeting over the weekend. The ASX traded lower by 0.20% and the Shanghai Comp. was the worst performer down 0.70%.
Natural Gas traded the top of the commodities leaderboard overnight and currently trades 1.36% higher. Oil markets are slightly higher this morning as spot WTI trades at $65.55/bb, 0.09% higher. Although there is still talk of rising Russian production and U.S. drilling rates are creeping to their highest in more than three years
In the precious metals markets there is a clear divergence between silver and gold overnight. Silver prices trade 0.70% higher and gold is flat. This week is a key week as we have the FOMC and ECB meetings so we could see some volatile action in the metals as well as the USD.
In the industrial metals complex, copper has pulled back from its lofty levels this morning as profit taking and value come into focus. Last week copper rose nearly 7% as issues at the world's largest copper mine (Escondida) and a softer USD sent prices soaring....