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Commodities: Macro data helps not real demand recovery

Posted on 17 September 2013

Commodity prices haven’t responded positively to positive macro data in the absence of real recovery in demand, according to a weeky review by Barclays Research. “Recent price gains this year, in our view, have not been driven by demand at all, but rather by a combination of supply concerns (crude oil,tin) and short covering activity (copper, gold),” Barclays said.
Recent macro data across regions have been positive giving a more encouraging picture of global growth. Economic activity has picked up in China if July and August data is any indication. The Euro area composite PMI index rose to 51.5 in August-the highest in two years………………………………………..Full Article: Source


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