Today morning Nickel and Aluminum is trading slightly positive by 0.13 to 0.3 percent while other metals have retreated at LME electronic platform. The Asian equities are trading mixed while the equities might pair in slightly after better banking and economic outlook. However, the Chinese inflation release early morning came out inline with expectation and may indicate some easing in near term restricting downside of metals pack. Brazilian miner Vale, the second largest producer of Nickel declared force majeure at its New Caledonia Goro HPAL Nickel operation due to acid leakage and may support price gain of the metal for the day. From the economic data front, Chinese Industrial production may increase slightly after in-line PMI release while the retail sales may decline slightly after lower imports and may restrict fall of metals during the Asian session.
Commodity Highlights -
- Gold struggles as investors fret over greek chaos, spanish banks.
- Oil eases further on weak chinese data.
- Copper off 3- week lows ; euro zone woes cap gains.
- Domestic oil and oilseed trade up on short covering.
| Date | Time | Currency | Economic Data | Forecast | Previous |
| FRI 11TH MAY 2012 | 6:00pm | USD | PPI m/m | 0.0% | 0.0% |
| 6:00pm | USD | Core PPI m/m | 0.2% | 0.3% | |
| 7:25pm | USD | Prelim UoM Consumer Sentiment | 76.4 | 76.4 | |
| 7:25pm | USD | Prelim UoM Inflation Expectations | | 3.2% |
