Aluminum sank on gloomy US corporate reports

Note: This section contains information in English only.
Source: Dukascopy Bank SA
Industrial metals tumbled on Friday on dismal corporate earnings reports from the US and uncertainty over eurozone's rescue fund. Weighting down on the base metals' pack, US existing home sales fell by 1.7% last month, signaling that US economy is far away from full recovery.

Aluminum lost 2.23% during risk-off trading after the largest US companies reported weaker-than-expected results for Q3. However, slightly better spot market activity limited losses in the light metal.

Copper was the top-loser on weak news from the US. Moreover, the red metal came under additional pressure after Shanghai inventories approached  five-month high last week.

Nickel was bearish as spot demand remained subdued. Disappointing data from the US also weighted down on the metal.

Zinc dropped by 1.87% at the LME on lack of positive results from two-day EU summit.


Back to articles

Actual Topics

Mon, 22 Oct 2012 07:18:36 GMT

Asia stocks mostly decline on Japan trade data

Asian stocks traded under pressure on Monday as exporters tumbled after weaker trade data from Japan. The Nikkei Stock Average was flat, while the Kospi and the S&P/ASX 200 both dropped 0.6%. The Shanghai Composite index deteriorated 0.5%, while the Hang Seng Index added 0.1%. Japan exports slid a more-than-forecast 10.3% on year, led by a heavy fall in sales

Mon, 22 Oct 2012 06:56:39 GMT

Gold shed 1.13% during Friday's risk-off trading

Precious metals dropped on Friday as persistent fears over spreading debt crisis in eurozone and worries over global economic outlook increased safe-haven appeal of the US Dollar. Spain announced that it was not ready to apply for a bailout while two-day EU summit failed to produce positive results. Gold reached one-month low, coming under heavy pressure from strong greenback and

Subscribe to "Fundamental Analysis" feed

Subscribe
Aby dowiedzieć się więcej o handlu Forex/CFD na platformie Dukascopy Banku, rynku SWFX oraz innych rzeczy związanych z handlem,
zadzwoń do nas lub poproś o oddzwonienie.
For further information regarding potential cooperation,
please call us or make callback request.
Aby dowiedzieć się więcej o Opcjach Binarnych w Banku Dukascopy / platformach handlowych Forex, SWFX, oraz innych,
zadzwoń do nas lub pozostaw prośbę o oddzwonienie.
Aby dowiedzieć się więcej o handlu Forex/CFD na platformie Dukascopy Banku, rynku SWFX oraz innych rzeczy związanych z handlem,
zadzwoń do nas lub poproś o oddzwonienie.
To learn more about Crypto Trading / CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Business Introducer and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.