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Commodities re-cap, oil bouncing back - ANZ

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Feb 25, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    Analysts at ANZ explained the action in the commodities sector, noting that oil prices weakened steadily through most of the session before bouncing sharply in recent hours as the weekly EIA inventory data showed US fuel stocks fell last week.

    Key quotes:

    "Near-dated WTI is up 0.8% at the time of writing.
    In industrial metals, copper, nickel and aluminium fell, but precious metals did better, with spot gold up 1.1% on safe haven demand, despite markedly weakening in recent hours on improved market sentiment and profit-taking. The CRB index is up 0.5% at the time of writing."
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