BASE METAL WRAP:
Copper dropped to its lowest in three weeks on Wednesday as the U.S. fiscal deadlock eroded appetite for risk-associated assets, though the dollar found some relief in Janet Yellen's nomination as head of the U.S. Federal Reserve.
ENERGY WRAP:
West Texas Intermediate traded near the lowest price in three months after a government report showed U.S. crude inventories surged the most in a year.
PRECIOUS METAL WRAP:
Gold fell nearly 1 percent on Wednesday, as the dollar rose while investors digested news that Federal Reserve Vice Chair Janet Yellen will be nominated as the next chief of the U.S. central bank. Bullion stayed lower after news the Fed's shock decision last month not to reduce its support for the U.S. economy was a "relatively close call" for policymakers, according to minutes of the meeting that also suggested there was still broad support to trim bond-buying this year.
GLOBAL EVENTS TO WATCH:
President Obama Speaks, ECB President Draghi Speaks, Employment Change, Unemployment Rate, Asset Purchase Facility, Official Bank Rate, MPC Rate Statement, Unemployment Claims, FOMC Member Bullard Speaks, Natural Gas Storage, BOJ Gov Kuroda Speaks, ECB President Draghi Speaks, 30-y Bond Auction, FOMC Member Tarullo Speaks.
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