Commodities slide to 5-year low

[FrieFrench]

Raw materials slumped 7.1 percent this year, headed for a fourth annual decline and the longest slump since at least 1991, amid concern that economic growth is weakening as global equity markets lost $1.5 trillion last week.

Data yesterday showed that U.S. retail sales fell 0.3 percent last month on a broad pullback in consumer spending in the world’s largest economy. The Bloomberg Commodity Index (BCOM) fell as much as 0.2 percent to 116.78, the lowest level since mid-2009, and was at 116.87 at 11:25 a.m. in Singapore.

Via Commodities slide to 5-year low

 

[fxstrategist]

oil

The drop in oil is really hurting commodities and it doesnt seem like there will be a relief soon.

 

[FrieFrench]

The drop in oil is really hurting commodities and it doesnt seem like there will be a relief soon.

Especially since Saudi Arabia seems to be confortable with oil below $90.