Last week was positive for a number of commodities in the world market with price gains in energy, metals and agriculture sector. The US made a significant contribution to boost positive perception of the global commodity market. The flow of positive macro data together with the Fed's assertion of continuing with the ‘loose money' policy until 2014 buoyed the sentiment. The US GDP growth was reported at 2.8 per cent in Q4 2011 at a seasonally adjusted annualised rate, the strongest gain since Q2 2010. Consumer confidence is seen rising. Inflationary pressures appear to be moderating. As for China, the mover and shaker of the world commodity market, December trade data continued to paint a picture of robust commodity demand.
Source: The Hindu Business line
No comments:
Post a Comment