Oil edged higher to $42 a barrel on Wednesday after hitting its lowest since April the previous day, supported by an
industry report showing a fall in U.S. inventories and a weaker dollar.But prices could struggle to make much headway,
analysts said, as sentiment remains bearish. A supply glut that has weighed on prices could increase if oil exports actually
restart from ports in Libya that have been closed since 2014.
Gold prices held steady below a two-year high in European trade on Wednesday, as investors looked ahead to key U.S.
data later in the session to gauge the health of the world's largest economy and whether it is strong enough to warrant
an interest rate hike later this year.The U.S. is due to release the ADP jobs report for July at 12:15GMT, or 8:15AM ET,
with market analysts expecting a gain of 170,000 private sector payrolls.
Nickel futures rose during evening trade in the domestic market on Wednesday as investors and speculators booked
fresh positions in the industrial metal amid a pickup in physical demand for nickel from alloy-makers in the spot market.A
pickup in the 19-member Euro Area economy also bolstered the demand outlook for the metal as a combined
gauge measuring manufacturing and services in the Euro area climbed to 53.2 in July from 53.1 in June with a reading
above 50 signaling expansion.
Bank of Japan Deputy Governor Kikuo Iwata said on Thursday that a comprehensive review of the central bank's monetary
policy due next month would focus on the transmission mechanism and obstacles to its monetary policy.The review
is not meant to transmit a specific direction for future monetary policy, Iwata said, according to the text of a
speech.
A constitutional amendment proposed by interim President Michel Temer to put a ceiling on Brazil's public spending
will pass the lower house this year but not the Senate until 2017, lower chamber Speaker Rodrigo Maia said on
Wednesday.The proposed cap is the cornerstone of Temer's strategy to plug a bulging deficit inherited from the Workers
Party government of suspended President Dilma Rousseff, yet its impact on fiscal accounts will be delayed until it
wins Senate approval next year.
The Bank of England is poised to cut interest rates for the first time since 2009 later on Thursday, as Britain's economy
teeters on the brink of recession after June's vote to leave the European Union.Although the BoE wrong-footed financial
experts three weeks ago by leaving rates unchanged, the central bank said most of its policymakers were likely to
support action in August as post-referendum uncertainty depressed the economy.
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