Fundamentals and weather crucial for direction

by: Casper Burgering , Hans van Cleef

Commodity Update (bi-weekly) 30-October-2013.pdf ()

Later today, the Fed will have its monetary policy meeting. We believe that the Fed will keep its policy unchanged and that it will not start to taper its bond purchases before March 2014. Also the focus will shift towards the release of the PMI data, which will be an important driver for metals. Inventory data and weather related news will remain crucial for oil and gas direction. Please note that we will release our Q4 Quarterly Commodity Outlook tomorrow!