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August 4, 2020

  • Weekly Market Report

This Morning

The Bloomberg Commodity Index was little changed in early trading this morning (+0.11%), however year-to-date the index is down 14.03%.
  • In London, LME 3-mo. copper and aluminum closed yesterday at $6,435/mt and $1,718.50/mt, respectively, while 3-mo. nickel was recently trading up around $13,734/mt. All three commodities higher than the prior week.
  • In New York, NYMEX crude oil futures dipped to $40.19 per barrel pre-opening and then rose nearly $1 during early trading.
  • On Wall Street, the major U.S. stock indexes opened higher following modest gains as did the Asian exchanges. European exchanges were mixed, with France and Germany slightly down.
  • In foreign exchange trading, the dollar showed a mixed strength against most major trading rivals, but increased against the euro to $1.1742 and the British pound was buying $1.3033.
ThisMorning080420

Have Questions?

Joe Pickard
Chief Economist
Director, Commodities

JoePickard@isri.org
(202) 662-8542
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