Aneeka Gupta, Equity & Commodities Strategist, ETF Securities, comments on recent market volatility and the movement of oil and gold overnight.
07.02.2018 | 13:00 Uhr
"The spike in volatility across financial markets exhibited over the past few days have ratcheted over concerns that interest rates could move even higher. The price action overnight as US stocks staged a late rebound helped equity markets worldwide recover the global three-day rout. The US dollar remained flat and commodities have staged a comeback. Gold recovered 0.5% after posting its biggest drop in two months as investors guard against wider market fluctuations. Meanwhile oil prices rose higher as US crude oil stocks unexpectedly fell by a 1 million barrels last week, reported by the API. However, oil prices are likely to come under considerable pressure as the Energy Information Administration (EIA) estimates US crude oil production to rise this year to 10.6 million barrels per day (mbd), higher than previously expected."