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Copper and oil suffering as euro continues to fall and China raises rates
www.tradingfloor.com - A stronger dollar and attempts to rein in the Chinese economy have taken their toll on commodities, according to Saxo Bank's Ole Hansen. Copper has dropped by around 14% over the last week, while oil is looking to test current lows as the US economy continues to recover without significantly increasing oil consumption. Gold, though, is seeing the benefit of uncertainty driven by fear and momentum.
06:42 minutes
Tags: analysis, commodities, copper, crude, currency, eurusd, forex, futures, market, oil, reuterscommodities
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