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Commodities may fall on euro belt-tightening

Posted on 01 October 2012

Commodities are on the upswing in early trade amid a broad-based advance in risk appetite as traders encouraged by yesterday’s release of an ambitious Spanish budget await a similar result from France. Sentiment-linked crude oil and copper prices are following shares higher while gold and silver are buoyed by ebbing haven demand for the US dollar.
Optimism may be fleeting however. Economists expect Paris will run a deficit equivalent to 4.6% percent of GDP this year, the highest among the core members of the euro zone. This means President Francois Hollande and company may be forced to press on with tax hikes and/or spending cuts, both of which would compound headwinds for already anemic growth………………………………………..Full Article: Source

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