The report weekly of the Bank «Saxo» that the financial pressures in the global markets are still without a controlling officer, and the longer it takes to reach a solution to the crisis of European debt, with increased risk of another global recession. This has led to the emergence of expectations about the decline in demand for commodities in the near term and the suffering of prices as a result.
The first Q. Hansen, senior director of team trading advisory, and goods in the Saxo Bank: Many traders began to actually reduce their trades in early for reasons attributable to the approach of the end of the fiscal year, investment funds have worked to reduce the indebtedness of speculative positions against the background of the banks to cut credit lines. And on this basis can not be excluded headwinds in the coming weeks and, when taking into account also the continuing rise in the dollar, which would reduce the subsidy to goods traded in dollars.
And indicate global purchasing managers on manufacturing, which is a good proactive measure of economic activity to the weak conditions in the near term, especially in light of the receipt of less data unit from China last week, which adds more uncertainty about future prospects.
The trading fund major commodities GSCI S & P and UBS DJ within the negative territory for the year, and applies a rate of more on the latest cycling has much more to agriculture and metals (both the two exposed to the suffering of the largest compared to other sectors during the last few months).
The index lost Reuters Jefferies CRB CRB 2.7% over the past week on the back of the sale of large-scale damaged goods are mainly sensitive to the dollar such as corn and soybeans. U.S. exporters are struggling at the moment to compete with cheaper products coming from other regions, especially South America, where he suffered from the weakness of the Brazilian real by more than 15% during the past six months. And continue buying the dollar and the large-scale with the rise of the dollar by 1.9% against a basket of major currencies in the world.