Weekly Fundamentals - Commodities Rebounded after Pricing in Uncertainties

Commodities generally rebounded last week as the nuclear crisis in Japan has been eased. While fighting in Libya continued, the market has already priced in a prolonged period of political and economic disruption in the area with significant amount of oil and energy capacity suspended for years. Investors paid more attention macroeconomic events during the week. Data released in the US were mixed. While the surprising drop in initial jobless home sales spurred optimism that the country's job market has been improving gradually, disappointing durable goods orders and falls in both existing home sales and new home sales data indicated consumer spending remained constrained.

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Weekly Fundamentals - Commodities Rebounded after Pricing in Uncertainties