SaxoTV

Dovish FOMC boosts oil and gold: Hansen

765 views
March 17, 2016 crude, crude oil, crude oil price, crude oil prices, crude price, crude prices, crude spread, crudeoil, fed, fed meeting, federal policy meeting, federal reserve, federal reserve rate hikes, federalreserve, fomc, fomc meeting, fomc rates, fomcmeeting, fomcstatement, investing, investment, janet yellen, oil, oil and gas, oil commodities, oil demand, oil industry, oil market, oil markets, oil price, oil prices, oil production, oil stocks, oil supplies, oil supply, oil trading, saxo, saxo bank, saxo tv, saxotv, trading, tradingfloor, tradingfloor.com, us dollar, us dollar index, usd, usd index, wti, wti and oil, wti brent, wti brent spread, wti crude, wti crude oil, wti price, wti supply
The Federal Reserve's Janet Yellen has given gold a big boost following the Federal Open Market Committee meeting on Wednesday. That's led to a weaker US dollar and seen gold up USD 35 in just 24 hours. It follows what Saxo's Ole Hansen describes as a 'healthy correction' for the precious metal. 

Meanwhile, Hansen says it's oil that's been the biggest riser in the commodity market.  He says crude received a triple dose of supporting news including improved risk appetite thanks to the weaker US dollar and a slow down in US oil production.