Commodities Weekly Outlook: Losses Amid Trade War Escalation

Monday, 16/07/2018 | 11:48 GMT

Disclaimer

Commodities plunged during the week ended July 13, after the 2 world largest commodities’ consumer economies, US and China escalated their tension and rhetoric, threatening to impose new tariffs of $200 billion worth to each other.

In addition, with the Trade war factor, the ongoing strength of the US dollar against all major pairs increased the selling pressure on the Commodity assets which are denominated in US dollar making them expensive for foreign investors.

Crude Oil

Crude Oil had one of the worst weeks since 2016 where the price experienced the largest one-day drop as much as -7% on last Wednesday. WTI started the week near $75 and dropped in the lows of $69.20 before closed at $71 on Friday. Possible escalation of trade war could slowdown the world economic growth and the demand for crude oil products.

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Source: https://www.exclusivecapital.com/commodities-weekly-outlook-losses-amid-trade-war-escalation/

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