26 Aug 2015
Further weakness lies ahead for commodities – Societe Generale
FXStreet (Edinburgh) - Kit Juckes, Strategist at Societe Generale, sees prices for commodities falling further in the near term.
Key Quotes
“The odds favour another leg down for global commodity prices in due course, further bouts of risk aversion, persistent high levels of volatility, and markets which continue to worry about what both the Fed and PBOC do next”.
“Against that backdrop, I still want to be short CAD, NZD and to a lesser extent AUD and from here, I rank the dollar and yen ahead of the euro and Swiss franc”.
“With oil a bit better, NOK and SEK, as well as sterling, have potential to make some progress against EUR and CHF, for a few days at least”.
Key Quotes
“The odds favour another leg down for global commodity prices in due course, further bouts of risk aversion, persistent high levels of volatility, and markets which continue to worry about what both the Fed and PBOC do next”.
“Against that backdrop, I still want to be short CAD, NZD and to a lesser extent AUD and from here, I rank the dollar and yen ahead of the euro and Swiss franc”.
“With oil a bit better, NOK and SEK, as well as sterling, have potential to make some progress against EUR and CHF, for a few days at least”.