07.10.2008 - US commodity markets battered by credit crisis
From Thepeninsulaqatar.com: Global commodity markets continue to suffer in the wake of the ongoing credit crisis. Despite a yes vote from the US Senate backing the new bail-out bill, the overwhelming fear in the market is that a prolonged slowdown, or even a recession, is going to hit the US economy. Energy - This week has seen a return to the well-established negative trend on Crude Oil November (CLX8). Although we have not seen new lows, the sentiment in the market is still overwhelmingly negative. Several factors determined this. First of all, there was the renewed strength of the dollar on suspicions that the next set of bad news could come out of Europe and second, very high short-term rates have made dollar selling very expensive...... Full Article: Source
Print