Commodities and indices outlook: Evidence still favouring the downside



A myriad of stocks and indices were the specialist subjects for Paul Rodriguez, Director of ThinkTrading.com, as well as the Fed rate hike scenario, when he joined Zak Mir and Mike Ingram on the Tip TV Finance Show.

Next non-farm payroll to hold back the Federal Reserve

Rodriguez began by noting that generally the US economy is performing reasonably well and may deem a Fed rate hike, however, he added that the US is not seeing inflation. Rodriguez commented that the next NFP figure, along with a downward revision of the non-farm payroll figure for the previous month, may hold back the Federal Reserve. He also highlighted that even if the Fed do hike in December, they may then be lowered like the situation in Japan.

Deflationary cycle shown in the commodity market

When concerning Copper, Rodriguez expressed that it found no support at 61.8% retracement, and so is likely to fall to the 10% retracement level.

Gold fell through its 2015 low recently, according to Rodriguez, and has failed to rally despite the rising geopolitical events including the Paris terror attacks and the Russian jet shot down over Turkish airspace.

He continued to Tin which is falling as well, and is thus likely to retrace 100% to 2009 lows.

To see views on the FTSE 100 and the S&P 500, plus further insights into commodities and interest rates, check out the video.

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