Commodity recap: US stocks on slide again | Tradingfloor.com

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By Ole Hansen

US stocks and the dollar are sliding again after a weaker-than-expected Automatic Data Processing (ADP) employment number. This sets the stage for a nervous couple of days, with the European Central Bank (ECB) meeting tomorrow followed by the US jobs report on Friday.

Commodities are generally trading higher, with precious metals, led by silver, finding a bid on the back of the nervousness elsewhere. The agriculture sector is mixed with coffee, rising for a seventh day while corn is seeing some profit-taking after yesterday’s rally. The energy sector is still being driven by the near-term US weather outlook, which continues to support natural gas and today especially, heating oil (NY ULSD) after another draw in inventories.

Source: Bloomberg and Saxo Bank

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Commodity recap: US stocks on slide again | Tradingfloor.com

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