[ad_1]
The production unit of Goldman Sachs stated that it maintains an optimistic outlook for the commodities and that the current weakness of the sector represents an opportunity d & # 39; purchase.
The investment bank said the outlook is based on solid growth in demand, supply disruptions and a decline in metal and energy markets stocks.
Similarly, Goldman ] maintained his recommendation to overweight the sector in the portfolios and his forecast for 12-month returns of the S & P / Goldman Sachs Commodity Index (GSCI) 10%.
The bank said that it believes that concerns about weakening demand in emerging markets, the trade war and the dismantling of oil cuts by the Organization of Petroleum Exporting Countries (OPEC) and his allies have been overestimated.
"The oil outlook has turned to news of tougher sanctions against Iran and further interruptions in supplies, and in metals, we believe that concerns about the availability of credit in China (…) will reverse given the recent political changes in the country, "said the bank.
Goldman added that he expects the impact on the commodity market of escalating trade tensions to be " very low "except for soya, whose flows can not be redirected given the size of US exports and Chinese imports.
AUTOMOBILE SECTOR
Tariffs applied to the automotive sector, if they were implemented, would represent the greatest risk for global demand for metals.
Goldman says that he expects a weaker US dollar, although a combination of stable demand and easing of Chinese monetary policy should support demand in the second half of 2018.
Oil, meanwhile, would remain in deficit in the second half despite increased production of OPEC.
COPPER IN AUTUMN
It should be noted that today, copper has suffered a 0.92% drop to $ 2.90277 on the London Metal Exchange, adding its ninth consecutive decline, which is its worst series since November 2015.
By the way, the pound has a 6% drop and is about to lose US $ 2.90 – a barrier that no longer crosses since August 2017 – in a context marked by the fear of the trade war and the international rise of the greenback. On the other hand, iron lost 1.36% of its value during today 's session in Singapore, falling for the fourth day in a row to US $ 62.96 per metric ton, according to Bloomberg figures.
Source: Reuters
Source link
