LME Inventory Update

FXStreet (Mumbai) - The warehouse stocks data released daily by the London Metal Exchange (LME) showed a drop in the inventory levels of the base metals viz., Zinc, Lead, and Aluminium. While Nickel stocks witnessed a built-up.

Nickel inventories added 1008 tonnes. On the other hand, Lead and Zinc stocks deducted 75 tonnes and 3675 tonnes respectively. Aluminium inventories subtracted massive 11125 tonnes.

EUR/GBP recovers to 0.7170

EUR/GBP recovered losses and climbed back higher in the European session, extending its see-saw movement, largely as the pound was hammered by the shared after BOE QIR turned out to be dovish with BOE slashing UK’s GDP forecasts.
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Riksbank could ease further on Monday – TDS

Jacqui Douglas, Strategist at TD Securities, sees the Nordic central bank cutting rates 10-15 bp at its meeting on Monday...
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