Commodities eased in Asian session on Monday as last week’s rallies after Fed’s new QE measures triggered profit-taking. While further downsides cannot be ruled, we believe the retreats are temporary and do not affect the long-term uptrend for commodities. The front-month contract for WTI crude oil climbed to as high as 87.49 earlier in the day before slipping to 86.8. The black gold has risen more than +6% last week. Precious metals also dropped as USD recovered.
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Financial Markets Consolidate after Strong Rallies
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