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Chinese flexibility on exchange rates needs patience
http://www.tradingfloor.com - The commodity market kicked off the week on a positive note on news that the Chinese were seeking 'flexibility' in the renminbi exchange rate. The across-the-board boost for commodities on hopes of better exports from US was short-lived according to Saxo Bank's Ole Hansen. Patience will be needed, he says. The energy sector has suffered from a report by the International Energy Agency that demand for oil would slow and that natural gas consumption was at a level last seen in the Seventies.
07:29 minutes
Tags: china, commodities, crude, currency, forex, gas, gold, grains, levels, natural, oil, ole, reuterscommodities, technical, trading
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