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MARKET WRAP Oil rose more than 3 percent to above $74 Copper hit its highest in more than four months U.S. manufacturing data pushes base metals higher Aluminium stocks in LME warehouses have also been falling U.S. crude stocks rose 3.43 million barrels
Oil rose more than 3 percent to above $74 a barrel on Wednesday after strong U.S. and Chinese data soothed investor concerns over the pace of economic recovery in the world's top two energy consumers. Gold eased on Wednesday after better-thanexpected U.S. manufacturing data lifted appetite for stocks and other assets seen as higher risk after earlier hitting two-month highs amid concerns over economic recovery.
ECONOMIC CALENDAR Date
Time
Currency
Economic Data
Forecast Previous
Thu 6:00pm Sep 2 6:00pm
USD
Unemployment Claims
476K
473K
USD
Revised Nonfarm Productivity q/q
-1.9%
-0.9%
6:00pm
USD
Revised Unit Labor Costs q/q
1.3%
0.2%
6:30pm
USD
Fed Chairman Bernanke Testifies
7:30pm
USD
Pending Home Sales m/m
-1.3%
-2.6%
7:30pm
USD
Factory Orders m/m
0.4%
-1.2%
8:00pm
USD
Natural Gas Storage
56B
40B
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