The Us Government’s Consumer Price Index (CPI) rose 0.4% in July ,in line with analysts expectations, and up from a rise in June of 0.2%.
US House Market
The National Association of Homebuliders index of sentiment fell seven points to 23 in July, it’s lowest level since February 1991.
Commodities
Oil - prices edged lower in cautious trade ahead of the release of the latest US weekly inventories data which is expected to show a fall in crude and gasoline stocks.
Metals
Nickel continued to trade just below record levels of $27,700 a tonne where global inventories have shrunk to crucial levels of less than one day’s worth of world consumption
Copper trading at $7,695 with strike action ongoing at Escondida, world’s largest mine in Chile.
Gold traded at $626/ounce. Gold has been under pressure recently from the easing of tensions in the Middle East with the ceasefire betwen Israel and Hezbollah holding for a third day.
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