20120815 1631 Global Markets & Commodities Related.

GLOBAL MARKETS: Asian shares fell as investors booked gains from recent rallies after data showing strong U.S. retail sales and Germany and France avoiding a contraction last quarter calmed sentiment, with weak euro zone growth sustaining stimulus hopes. European stock index futures pointed to a dip as shares continue to zig-zag while trading volumes drop, with investors moving to the sidelines and waiting for clear moves by central banks before increasing their exposure to equities. U.S. stocks ended little changed on Tuesday in what investors described as a fatigued market after the S&P 500 rose in seven of the past eight sessions. (Reuters)

FOREX: The dollar held firm near a one-month high against the yen, after surprisingly upbeat U.S. retail sales data the previous day dampened talk of monetary stimulus from the Federal Reserve. (Reuters)

FOREX-Dollar hovers near 1-mth high vs yen after upbeat data
SINGAPORE, Aug 15 (Reuters) - The dollar held firm near a one-month high against the yen, after surprisingly upbeat U.S. retail sales data the previous day dampened talk of monetary stimulus from the Federal Reserve.    
"It wouldn't be a surprise to see the dollar rise to 80 yen by the end of the month," said Masafumi Yamamoto, chief FX strategist Japan for Barclays Capital in Tokyo.

U.S. retail sales gain hints at stronger growth(Reuters)
U.S retail sales rose in July for the first time in four months as demand climbed for goods ranging from cars to electronics, a sign that consumers could drive faster economic growth in the third quarter.

Top U.S. farm lender worried by drought, politics(Reuters)
U.S. agriculture has plenty of financial reserves to get through the worst drought in more than 50 years, the top regulator of U.S. farm banks says.

China growth target at risk unless support stepped up-CCIEE
BEIJING, Aug 15 (Reuters) - China must step up pro-growth policies over the next three months or risk missing its annual growth target of 7.5 percent, a senior official at a top government think-tank told Reuters.
Zheng Xinli, vice chairman of China Centre for International Economic Exchanges (CCIEE), said Beijing must boost investment growth, preferably by raising spending on the country's high-speed rail network, to stop a slide in economic growth that has lasted for six straight quarters and is running into a seventh.

GRAINS: U.S. wheat edged up, after suffering its biggest three-day decline since July last year in a selloff triggered by Russia's exports to Egypt in two tenders this week, which eased concerns over supplies from the Black Sea region. (Reuters)

U.S. crude stocks rise unexpectedly, products mixed-API(Reuters)
U.S. crude oil stocks rose last week against analyst expectations, and refined product stocks were mixed, the American Petroleum Institute said on Tuesday.

North Dakota oil output at record high in June(Reuters)
Oil production in North Dakota hit yet another record high in June, after average production in the first half of the year jumped 67 percent higher than a year earlier.

OIL: Brent crude futures slipped below $114 after settling at a three-month high as supply disruption worries eased after the United States said it did not believe Israel had made a decision whether to attack Iran. (Reuters)

Lonmin halts S.Africa platinum output after violence(Reuters)
The world's no. 3 platinum producer Lonmin has been forced to freeze mining at its South African operations after violence between rival unions killed at least nine people.

Chile cuts its 2012 copper output, global price view
SANTIAGO, Aug 14 (Reuters) - Chile, the world's top copper producer, lowered its 2012 average copper price outlook to $3.52 per pound from a previous estimate of $3.85, and sees prices slipping to $3.48 next year.
"The lower copper price (forecast) is chiefly due to downwardly revised GDP growth and industrial production in the main copper consuming countries, as well as lower demand expectations," state copper commission Cochilco said on Tuesday.

Brazil to regain iron ore top spot from Australia in 2017 -Vale
RIO DE JANEIRO, Aug 14 (Reuters) - Brazil will overtake Australia and regain its position as the world's top iron ore exporter in 2017 after a giant new Amazon mine owned by Vale SA starts operations, Vale's investor relations chief said on Tuesday.
The reversal will be sealed by the addition of new mines in Brazil, including Vale's 90 million-tonne-a-year Serra Sul mine at its Carajas complex in Brazil's northern Amazonian state of Para, investor relations director Roberto Castello Branco told investors in Rio de Janeiro.

BASE METALS: London copper edged up, spurred by hopes for more stimulus measures by China after a government think-tank official said the country must crank up pro-growth policies over the next 3 months or risk missing its annual growth target. (Reuters)

PRECIOUS METALS: Gold edged up,after dropping to a 1-1/2-week low in the previous session on promising U.S. retail sales data that dampened hopes for further stimulus measures from the Federal Reserve. (Reuters)

Paulson adds to gold pile for first time since 2009
NEW YORK, Aug 14 (Reuters) - Prominent hedge fund manager John Paulson raised his stake in gold in the second quarter of 2012, boosting investor confidence that bullion prices have more room to rise this year, a U.S. regulatory filing showed on Tuesday.
It was the first time Paulson & Co had increased its position in the SPDR Gold Trust since the first quarter of 2009, when the investment firm initially acquired 31.5 million shares of the world's No. 1 exchange-traded fund.

METALS-LME copper steady after US data; China eyed
SHANGHAI, Aug 15 (Reuters) - London copper edged up, spurred by hopes for more stimulus measures by China after a government think-tank official said the country must crank up pro-growth policies over the next 3 months or risk missing its annual growth target.
"The markets have been directionless, with most traders I know sticking to strict day trading strategies for the past month. We usually take a position earlier in the day and make sure we get out of it by the close," said a Shanghai-based copper trader, referring to the morning rise in LME copper.

PRECIOUS-Gold inches up after taking a hit from US data
SINGAPORE, Aug 15 (Reuters) - Gold edged up, after dropping to a 1-1/2-week low in the previous session on promising U.S. retail sales data that dampened hopes for further stimulus measures from the Federal Reserve.
"The good news for economy is bad news for gold," said Yuichi Ikemizu, head of commodity trading, Japan, Standard Bank, adding that the lack of clarity on monetary policy direction will keep interest in trading gold muted.
"Gold is unlikely to move out of the current range until end of August or even September."