09.08.2016 - China-driven commodities resurgence continues
US healthcare stocks had the biggest fall with the sector losing 1.1% overnight. But the main global macro story at the moment is the ongoing resurgence in the commodity complex. Despite another 0.2% gain in the DXY US dollar index overnight, commodities as a whole continued to gain with the Bloomberg commodity index closing up 0.6%. News that OPEC would be having a September meeting with certain members keen to push for supply cuts again served as the impetus for oil prices to rally. While a deal is highly unlikely to eventuate, the fact that it is even being mentioned shows how much difficulty the past month’s renewed selloff was causing many struggling OPEC members...............................................Full Article: Source
Print