Do Buy in Dubai? What about Mumbai?

By Jon Nadler
05 August 2009 @ 11:56 am EDT

The dollar-yen duo made some advances overnight, fueled by concerns that rallies in certain markets were about as overdone as George Hamilton's perennial tan. At the same time, crude oil lost some of its...energy as apprehensions about its own recent moonshot rose ahead of US inventory reports being released. Technical analysts see scope for black gold to reach the $73 level this year, but also expect the commodity to be able to hold above $66 per barrel when/if corrections take their toll. For its part, the dollar's eventual recovery against the euro is now not expected to break above $1.38 according to technicians over at RBC Capital Markets.

IBTimes Commodity Commentaries

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