Risk appetite dipped and profit-taking was seen in commodities, equities and growth currencies. Economic data released during the day were mixed but deficit concerns in peripheral European economies intensified in Portugal, Ireland and Belgium. WTI crude oil initially strengthened to as high as 82.38 before dropping to 81.47, down -0.13%, at close. The benchmark contract slipped for the first time in 4 days. Gold hovered around last Friday’s close but ended the day lower in tandem with the commodity sector. Banking instability in the Eurozone and Fed Chairman Ben Bernanke’s comments about further easing were supportive for gold but comments from non-voting Philly Fed President Charles Plosser was a drag.
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Commodities Lower on Profit-taking, USD’s Rebound
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