Commodity prices are on the upswing to start the trading week as risk sentiment mounts a cautious recovery after three consecutive weeks of aggressive selling. In the absence of top-tier economic data or significant Eurozone-linked news flow, the catalyst appears to have come by way of supportive overnight comments from Chinese Premier Wen Jiaobao, who said Beijing will maintain an active fiscal policy focused on stabilizing economic growth. The remarksstoked hopes that China will undertake stimulus measures to boost its own performance and by extension that of the global economy at large.
WTI Crude Oil (NY Close): $91.48 // -1.08 // -1.17% (21 MAY 2012)
