Commodities Strength

July 2007 | Market Alert

The CRB is exhibiting upside potential, having broken back above the 320.00 resistance point to currently trade at 326.00. The move is being underpinned by strength in oil, gold and copper, in turn boosted by the ongoing strength of the global economy, and China in particular. The appreciation of key commodities is exacerbating US$ woes, with the currency's key trade weighted index having dropped below support at 81.00, en route to historical lows at 78.00. A move lower would be highly negative.

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