Why is the Aussie dollar dropping like a stone at the moment, page-3

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ozexplorer

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24/01/15

10:21

Post #: 14635099
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Originally posted by grandcaruso ↑

probably due to the rout in commodity prices last nite. many commodities namely metals are in the hot zone now where technically their prices are at levels where selling can accelerate and further price falls can be expected. RIO and BHP both down close to 4% in NY after getting a strong lead from us.

Article from Reuters :- I left the bit about precious metals out, all positive there.

Jan 23 (Reuters) - Goldman Sachs Group Inc on Friday slashed its 2015 price forecasts for several base metals including copper and aluminium while raising its estimate for gold by $62 per ounce.
"The primary reason for the changes to our forecasts is cost deflation - driven by a combination of actual and anticipated U.S. dollar strength, cheaper energy and other input costs, and our expectation of an improvement in mining productivity," Goldman Sachs said.
Weaker-than-expected Chinese and European demand has also contributed to the deflationary environment, it added.

BASE
Goldman cut its 2015 average copper price forecast to $5,542 per tonne from $6,400, and aluminium to $1,788 per tonne from $2,075.
The bank slashed its 2015 average price view for lead to $1,838 per tonne from $2,350, nickel to $16,550 a tonne from $17,500, and zinc to $2,138 per tonne from $2,425.
The investment bank expects nickel, zinc and palladium to substantially outperform copper in 2015.

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Do you believe there will be a interest rate cut at the next meeting. Or will it remain on hold, due to the effect of a lower dollar and cheaper fuel prices-

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