Weekly Fundamentals - Commodities' Outlook Remains Choppy amid Uncertainties in Europe, Korean Tensions

Commodity prices generally strengthened last week, following severe selloff over the past 2 weeks. Reuters/CRB commodity index and GSCI Index climbed +0.75% and +1.54% respectively although the US dollar index rose above 80 for the first time since September 23. We caution that price movements will be volatile in the near-term as market sentiment remains fragile amid lingering concerns over sovereign crisis in the European periphery, acceleration in Chinese tightening and geopolitical tensions on the Korean peninsula.

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Weekly Fundamentals - Commodities' Outlook Remains Choppy amid Uncertainties in Europe, Korean Tensions