SaxoTV

Hansen: Commodities in crisis as prices hit 16-year low

749 views
November 20, 2015 brent, brent crude, brent geo-political, brent price, brent spread, commodities, commodities gold, commodities markets, commodities prices, commodities supply, commodities trading, commodity, commodity corner, commodity gold, commodity index, commodity investing, commodity investments, commodity market, commodity markets, commodity outlook, commodity prices, commodity sector, commodity strategy, commodity trade, commodity trading, commoditymarket, ecb, ecb action, ecb meeting, ecb news, ecb policy, ecb rate, ecb rate decision, ecb rates, economy, fed, fed meeting, fed policy, federal, federal reserve, federal reserve rate hikes, federalreserve, fomc, fomc meeting, fomc minutes, fomcmeeting, gold, gold bullion, gold buy, gold buying, gold commodity, gold demand, gold dollar, gold exchange, gold investing, gold investment, gold levels, gold low, gold market, gold predictions, gold price, gold prices, gold spot, gold support, gold trade, gold trading, goldman sachs, goldprice, investment, oil, oil commodities, oil demand, oil industry, oil market, oil markets, oil price, oil prices, oil production, oil supplies, oil supply, oil trading, opec, opec intervention, opec meeting, opec price, opec production, saxo, saxo bank, saxo tv, trading, tradingfloor.com, wti, wti and oil, wti brent, wti crude, wti crude oil, wti crude prices, wti price, wti supply, wti vs brent
The Baltic Dry Index, a measure of global trade, is at its lowest ever, while the Bloomberg Commodity Index hit a 16-year low this week. Saxo's Ole Hansen explains why China, the strong dollar and uncertainty over December's Federal Reserve meeting continue to affect the markets.

Even though crude oil is oversupplied at the moment, Hansen believes it's looking increasingly oversold. As the OPEC basket price is below USD 40, for the first time since 2009, he says the organisation's meeting in Vienna next month will be particularly interesting.

Gold, meanwhile, has hit a new five-year low as the market focuses on the strengthening dollar and December's Federal Reserve meeting. He explains why is looking for consolidation.