24 Jul 2015
Commodities remain under pressure – BBH
FXStreet (Edinburgh) - The research team at BBH reviewed the recent developments in the commodities’ space.
Key Quotes
“WTI broke below $50 per barrel for the first time since early April, down about 4.5% this week”.
“Copper reached its lowest level since 2009 while gold reached the lowest level since 2010, both down about 5% this week”.
“Iron ore seemed to have stabilized, up about 2% on net this week”.
“Many agricultural commodities have extended last week’s losses, with soybean futures down nearly 3% and corn futures down 4.5% this week”.
“As reflected in our recent EM sovereign rating model update, lower commodity prices continue to have a negative impact on the ratings of the commodity exporting countries, while benefiting the importing countries”.
Key Quotes
“WTI broke below $50 per barrel for the first time since early April, down about 4.5% this week”.
“Copper reached its lowest level since 2009 while gold reached the lowest level since 2010, both down about 5% this week”.
“Iron ore seemed to have stabilized, up about 2% on net this week”.
“Many agricultural commodities have extended last week’s losses, with soybean futures down nearly 3% and corn futures down 4.5% this week”.
“As reflected in our recent EM sovereign rating model update, lower commodity prices continue to have a negative impact on the ratings of the commodity exporting countries, while benefiting the importing countries”.