18.06.2015 - The falling dollar supported commodities

The price of gold is rising against the weakening US dollar after the deterioration of the economic outlook of the Federal Open Market Committee of the US Federal Reserve. So, in 2015, is projected the growth by 1.8-2.0%. At the same time, 15 of the 17 members of the Fed forecast rise in interest rates this year, which will be negatively displayed on the quotes of the metal. It is worth noting the demand for defensive assets due to the uncertainty on the debt restructuring of Greece. Today in Luxembourg will host the next round of negotiations. The dynamics of trading will also be affected by the data on the consumer price index, the number of initial applications for unemployment benefits and the balance of payments in the US (12:30 GMT). Our medium-term outlook for gold remains positive.

The price of Light Sweet crude oil has shown a strong increase in volatility on the background of the Fed's monetary policy and weak economic outlook for GDP growth in the United States. It is worth noting that the decline in the US dollar has a positive impact on oil futures. In addition, yesterday was published statistics on oil reserves in the US, which declined by 12 June by 2.7 million barrels compared with an expected drop of 1.8 million barrels per day. It is worth recalling that in the near future, investors' attention will be turned to the lifting of sanctions on oil exports against Iran, which will lead to an increase in the excess of oil on the market. Our medium-term outlook for oil remains negative.

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