Commodities Remain Pressured. European Debt Concerns Cloud Outlooks

15 November 2010 15 November 2010

BonTrade

Commodities continued struggling between gains and losses on Monday. The front month contract for WTI crude oil climbed above 85 as better-than-expected macroeconomic data from New Zealand and Japan came in better than expected. This triggered speculations for better demand growth in Asian markets. However, gains were pared as debt concerns in the Eurozone and rate hike concern in China remained. Gold traded narrowly with a soft bias.