10 August 2010

Financial Market Team update (English)

Commodities are falling. Gold prices fell for the second straight day. Copper prices are down, reaching a one-week low. Russia's drought has affected beet production and beets are used to make sugar, so sugar prices are rising. However, wheat and corn prices are down about 1.5%. A wheat producing region in Australia, the world's fifth exporter of wheat, is forecast to receive much needed rains. Read about Australia's wheat situation, in this FT article ($).

WTI prices fell the most in five weeks, despite a storm forming in the Gulf of Mexico which made drilling on a BP relief well stop.

The dollar is rallying against the euro and the pound, although it is weaker against the yen.

Fixed income and credit
5-year and 10-year Treasuries are reaching their lowest yields for the year.

(Read more about today's financial data in this FT$ article, and in this Bloomberg webpage)

Patrick Signoret and Georgina Lara

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