Oil prices have continued to fall on fears that the OPEC supply cuts will not be sufficient to clear the excess in the market. In addition, a weak May unofficial PMI reading out of China on Thursday depressed sentiment towards most industrial commodities. Meanwhile, US non-farm payrolls came in lower-than expected on Friday, but the drop in the unemployment rate to a 17-year low means that we continue to expect a rate hike this month.
Subscriber content
Read this in full, free
Start a free trial and use one of your 10 free starter credits to unlock this piece.