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Angus Walker
As Ukrainian forces retake territory occupied by pro-Russian militias, the crisis is heating up. Russia could retaliate by cutting off gas supplies to Ukraine and Europe. Around a third of Europe's gas comes from Russia with forty percent pumped through Ukraine.
Article / 10 December 2012 at 12:44 GMT

Commodity momentum: Negative momentum spreads

Ole Hansen Ole Hansen
Head of Commodity Strategy / Saxo Bank
Denmark

Silver has now joined gold in showing negative momentum. This despite a belief that the FOMC meeting on Wednesday will deliver a QE4 as the expiring Operation Twist could be replaced by an outright bond purchase programme. The energy sector is also showing some weakness, as the supplies are abundant and due to speculation that the current US winter could become the warmest on record.

Soybeans maintain positive momentum despite seeing a small correction following a strong rally during the last month. Corn is slowing and could turn negative ahead of the WASDE report from the USDA tomorrow.

Momentum indicator on major commodities

 

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