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Negative momentum taking hold in key commodities

Posted on 06 November 2013

Commodities in general continue to find little to cheer about at the moment and this is reflected in our momentum indicator with just three out of 16 commodities holding onto positive momentum. Seasonal slow demand for oil, increased supply of agricultural commodities at a time of tepid growth are some of the current negative drivers.
In addition, some renewed dollar strength means that even the metal sector has succumbed to profit taking while we await news from the European Central Bank on Thursday and the US job market on Friday. The metal sector was supported up until last week by speculation that tapering in the US would be further delayed together with the weakening US dollar………………………………………..Full Article: Source


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VRS - who has written 38089 posts on Opalesque Commodities Briefing.


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