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Bloomberg commodity index gains 3.9%

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Oct 9, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    FXStreet (Mumbai) - Commodity prices are on track for their best week since 2012 on the back of a rise in oil prices and the resulting risk-on in the financial markets.

    Oil/commodity driven risk-on

    The Bloomberg Commodities Index advanced 3.9%, mainly on account of an almost 10% rise in Zinc price after the mining giant Glencore announced a cut in the production. The index has recovered sharply this week from the 16-year low seen in August.

    This has also resulted in the risk-on in equities as the uptick in the raw material prices has triggered a rally in the energy and mining shares across the globe. European stocks have rallied for the sixth consecutive session, with FTSE 350 mining index rallying 18% this week.
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