Commodities Decline, Led by Oil, Copper After China Raises Interest Rates for Introducing brokers forex

Written by admin. Posted in Uncategorized

Commodities fell after China, the world’s biggest buyer of energy, industrial metals and soybeans, raised interest rates, crimping raw materials demand for Introducing brokers forex.

The Standard & Poor’s GSCI spot index of 24 raw materials dropped 0.6 percent to 642.22 by 12:02 p.m. in London as crude oil dropped 1.3 percent and wheat declined 0.8 percent. Copper lost 1.2 percent, the biggest decline in two weeks.

China raised interest rates for the third time since mid- October after growth accelerated and inflation stayed above 4 percent for a third month. Wheat has jumped 76 percent in the past month, and global food prices gained to a record last month, according to the United Nations.

Crude oil for March delivery on the New York Mercantile Exchange fell as much as $1.60, or 1.8 percent, to $85.88 a barrel, the lowest price since Jan. 28, and was last at $86.37. Brent crude for March settlement was down $1.10, or 1.1 percent, at $98.15 a barrel on the ICE Futures Europe exchange in London, extending its 2.5 percent drop of the past two days.

Corn fell 0.7 percent to $6.7025 a bushel and soybeans declined 0.3 percent to $14.1975 a bushel.
Precious metals held gains, with gold up 0.2 percent to $1,353.65 an ounce and palladium rising 0.2 percent to $819.50 an ounce.

Leave a comment



There is a risk of loss in trading foreign currencies and it is not suitable for everyone.We are compensated for our services through the bid-ask spread. Copyright© 2012. All rights reserved.

The services and products offered by Tradeview Ltd. are not being offered within Canada or the United States (US) and not being offered to US and Canadian Persons, as defined under US and Canadian law. As such, should you reside in or be a citizen of such a country, any email message received is not intended to serve as a solicitation or inducement on behalf of any of the aforementioned entities. All offices maintained within Canada are administrative offices only. Tradeview is a fully registered Broker/Dealer under the regulations of the Cayman Island Monetary Authority.


Thanks for dropping by! Feel free to join the discussion by leaving comments, and stay updated by subscribing to the RSS feed.