04.08.2015 - Commodities and Currencies Take the Spotlight
Commodities and currencies may continue to be in the spotlight for investors this week, as prospects for a Federal Reserve interest rate rise and the Chinese stock market slump work their way around global markets. With most commodities priced in U.S. dollars, the strength of the greenback, and the slowdown in China is leading a rout in commodity markets. U.S. WTI benchmark crude oil prices fell by 20 percent in July, the biggest monthly fall since October 2008, while Brent crude oil prices, the international benchmark, fell by 18 percent, the biggest monthly fall since December last year. Production from Organization of the Petroleum Exporting Countries (OPEC) is up more than 1.5 million barrels per day since the start of the year and the recently announced anti-nuclear deal with Iran will mean more oil on world markets...............................................Full Article: Source
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