Macroeconomic developments and related market sentiment continued to dominate the commodity market. Earlier in the week, US Treasury Secretary Timothy Geithner reiterated the ‘strong dollar’ mandate while People’s Bank of China surprisingly raised both the deposit rate and lending rate by +25 bps. The moves pressured commodities. Prices fluctuated throughout the week as speculations for QE remained but some investors, as the November FOMC meeting approaches, worried that easing measures announced by the Fed would be milder than previously expected.
Originally posted here:
Weekly Fundamentals – G-20 Agrees to Refrain from Competitive Devaluation
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